My simple calculation: $8 million a quarter EBITDA from Renison. 4x quarters is $32 million
EV is $210 million (i.e. market cap less $40 million in cash and shares and no debt)
So actually EV/EBITDA is well below 10x, which for some reason I think would be reasonable for exposure to tin/copper. Happy to stand corrected - really need to run some numbers against other producers.
MLX Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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