The only new info that should be in this report is that MLX are proceeding with the Rentails project. Given they have no cash, market must be fearing a capital raise.
I still can't figure out why the Renison project has reported such a significant loss, when we have just been told it was cashflow positive in the last two quarters and had positive EBITDA. Renison has just had its best quarter ever and tin prices are so high. The only thing I can think is to do with some accounting issue carried over from pre 30 June, perhaps it was expenses recognised for EBITDA purposes last year but only paid formally this year..
MLX Price at posting:
30.5¢ Sentiment: None Disclosure: Held
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