MLX 1.20% 42.0¢ metals x limited

Ann: Nifty Reset Plan, page-2

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    IMO Phase 1 of the Reset Plan, boils down to:
    Prioritisation of development to new mining areas.
    Key enabler of Phase 2:
    Creation of additional new mining fronts through the planned drilling programs.

    In Table 1 they have Plan Summary with Copper production for 2019/20 of 6,625t Cu per quarter.
    That is a big improvement on:
    Mar 2019 quarter of 3,985t,
    Dec 2018 5,177t and
    Sept 2018 4,678t.
    Forecast of 8,425t Cu per quarter for 2020/21 and 8,675t Cu per quarter for 2021/22.

    Plan ASIC for 2019/20 of $7,200-7,700/t Cu vs
    $9,569/t Cu,
    $10,143/t Cu and
    $9,628/t Cu in the previous quarters.
    Forecast ASIC of $6,500-7,000/t Cu and $6,400-6,900/t Cu in following years.

    It's a big ask and we're not likely to confirm they've hit these numbers until the end of 2019. So buys a lot of time for management.
 
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