This, IMO, is an excellent outcome for MLX and hopefully in time, CYM too.
For MLX it provides both the "Bird In The Hand" with $24m in cash which is needed to achieve the plans they have for Renison, but it also retains a low(er) risk Option on Nifty and the price of Cu should CYM be successful in developing the asset and / or the IGO exploration finds a meaningful deposit.
Given that the total transaction value is $60m when the range could have been as low as $1 based on some of the comments here, I am very pleased.
The only thing I am not pleased about is that the GME induced sell off last week led me to trim some of my position. I will be remediating this issue upon the lift of trade restrictions.
Cheers John
MLX Price at posting:
17.0¢ Sentiment: None Disclosure: Held
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