A pretty good read. Profit up 429%!!! to $62 million, this gives it a PE of less than 5. Although a lot of the profit came from one of sales of investments.
They have $97 million in cash and $72 million in other investments and no debt.
A key going forward will be driving the Wingellina Nickel project and they are have agreements in place with Jinchuan (China's larget Nickel minor).
The share price has been floundering in the low 20s for months now, the buy back doesn't seem to be helping. I do think it's undervalued but hesitent to buy more until we see some better global sentiment or some additional news. I very happy holding for long term.
MLX Price at posting:
21.5¢ Sentiment: LT Buy Disclosure: Held
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