That'll put Nifty on radar as its just next to Winu discoverd by RIO.
They have an operating cash flow positive business (Tin, double margin ) and an negative Nifty on which a lot of capital has been sunk to turn it around since its acquisition in 16.$10 mill sunk just the last Q.The grade is there i.e the copper is there .Its just working in the necessary infrastructure and legacy issues to get to it. Development rate is above above target to achieve the reset plan.
I would panic and sell only if the DEVELOPMENT RATE dropped .So far this isnt the case , rather they got record development of 567m in June.
Stope dirt will come thru once the ore drive are completed and the slots are in place.
This is a potential $2 stock in 24 mths. They should sort out the credit line with City this month.
MLX Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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