Have had a closer look at accounts and here is what I have found Copper Due to higher through put the Copper Division mining costs have reduced(cash) from $9118 to $7905 per Ton good saving.We need the price of copper to rise and with better ore mined it might get near break even
Tin This is the strange result going from a $11.55 million profit to a $6.5 million loss, thats a $18 million turn around.They say that that the Tin produced reduced from 1798 to 1707 tons, price about the same but the cash mining costs have soared from $$11000 to $14000 per ton.I would have thought the new ore sorter would have made a difference to the better.Still leaves a big difference to find, perhaps it is in note 5 Inventories where it states that they have been written down by $10 million dollars but would of thought that would be copper not tin.Also see note 4 for $4.7 million write down due to copper price. Hope this helps, please point out wrong assumptions I have made, still a believer in MLX,some explanations would help the cause
MLX Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
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