Look anyone expecting a turn around this quarter will be disappointed but the management have clearly laid this out in the Nifty reset plan.
Price's have been stabilising since 5 months and neither the shorter nor the sellers have been able to push it further down which suggest a genuine support at these level.Now, all they need to do is show a Q on Q improvement in production with lower cost.The market is valuing Nifty at $0 and if the mgnt. can show that they can get their shit sorted then this is due for a re rate and if they somehow dont need a cap. raise like they mention then the sentiment of MLX will certainly swing to the upside.
personally , moving forward ,i do think fresh blood with higher tolerance to risk has entered the registry and old holders who were sore have mostly liquidated their position.this will be a 12month plus hold for new entrant when the production of 35k comes into play.
gd lk to all and I'm changing my sentiment to BUY & HOLD.
MLX Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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