I'm encouraged by the fact that the mgt. are following short term performance data and matching it to plan. If the plan is not working you need to know early, rather than late. OK, so whas to do? Like Mudguts I think they might need to try to find a few very clued up mining engineers who have familiarity with this kind of ore and the latest available technology. They might be from outside Australia, but WA is loaded with ironstone, being amongst the oldest rocks on earth. Could well be a local. Even CSIRO. But if this is the problem, it will take more than a week or two to get.
They are funded well enough in the short term, but with tin lower and the high grade ore not starting to kick in until next quarter at Renison, the credit from there will be lower this quarter.
Nifty has a lot of high grade ore. The challenge now is to get at it and get it out. No rush, necessarily.
Whatever, there is fear in the air here and it looks to be manipulated, If they fix it or the C&M it will be a better next quarter. Buy time? I don't know. Every time I thought it was I bought more and it went lower, so do the opposite of what I do and you're on a winner. Im indecisive here, so that indicates be decisive. Either bail or load up. I'm roadkill, but you don't have to be.
MLX Price at posting:
12.5¢ Sentiment: None Disclosure: Held
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