The contained Co was no secret, just possibly overshadowed by the demerger. However, Ausbill dares to differ with Mr. Market to the tune of a 5.112% stake. Perhaps they see Co as not being fully valued, or valued at all, in respect to their Sn and Cu assets.
With $112M in cash and $15M in investments, coupled with a team having the skill-sets to explore and build a mine, it is not inconceivable that MLX will be a first mover in the Co race. After all MLX has the offtake contacts, engineering/procurement people at hand from past successes, and positive cash flows that banks adore so very much.
An initial high grade Co mining operation, with Ni credits is what I'd like to see from a capex and time perspective, ie. unlocking the Co bonanza first!
OV
MLX Price at posting:
74.5¢ Sentiment: Buy Disclosure: Held
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