The last bell potter report saying they are going need to raise more money
Renison is now the focus, but more funding is likely needed
With the closure of Nifty, the company’s focus is its 50% owned Renison tin operation where work streams continue to advance multiple aspects for the development of new high grade zones at Leatherwood and Area 5. This will give it access to significant amounts of higher grade ore from early 2020 and is expected to lead to higher tin output and operating cash flow. We have assumed Nifty remains shut until June 2021 and, if not sold in that time for close to our revised value of about $40m, we see MLX needing to access additional capital (debt and/or equity) in 2021 to fund its operations.
MLX Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
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