The company is estimating Tin Production of 7500 to 8000T for the 2019 FY. MLX share 3750 to 4000t. If you take the mid point you get 3875t. Production in first half 1707t so second half production estimate is 2168t. This will reduce AISC per tonne. It is worth pointing out that Renison produced 871t of tin in January in spite of losing 1 day because of the bushfires and no doubt a slow start after New Year. This would make production of 5226t of tin for the half if same rate continued. Renison share 2613t so the company estimate of 2168t is looking conservative. Looking forward the mine will be processing the recently discovered high grade zones in 2020. Renison is a gold mine (mining Tin ). Using the companies conservative production numbers I estimate Renison will generate an additional $20m in the second half compared to the first. That is the MLX share. Hartley's estimated today, in a report, that MLX generates $10 m from Renison in January alone. With Nifty shipping a concentrate shipment in early Jan, MLX will not have any cash flow problems.
MLX Price at posting:
25.8¢ Sentiment: Buy Disclosure: Held
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