REQUEST TO CALL SHAREHOLDERS MEETING OF METALS X LIMITED, page-27

The open pit is high risk because market cap is circa $75 mill and the cost of getting the open pit moving is circa $50mill. Need someone with deeper pockets for this.
The scoping study has dressed up Nifty a little so potential suitors will have some idea of what they are getting. I doubt anyone would trust MLX to run Nifty given the track record. A JV is an option if the BOD can find a rich patsy!! I get the feeling the BOD have put feelers out for a sale. APAC on the other hand want to control this process.
Technically the stock has been in a base formation since early May. The APAC involvment suggests we will see a move of some sort at some stage.
Currently trading at 20 day lows. Should reach prior 20 day high at 10.5 cents and the 20 week high of 11 cents as initial targets if we see a little action. With luck the SP may overshoot these initial targets.