According to the September Quarterly report…since the 31 March 2019 resource update MLX has drilled 220 holes for 20,300m into Nifty. The company has said on the C&M announcement that they will process the drilling data and upgrade the resource base. I’ve had a bit of a look at the drill data which is included in both their June and September quarterly reports. Having looked at the results I can see….
164 of the 220 holes hit significant mineralization
2,852m of the 20,300m was in significant mineralization and the average grade of each hit was 2.3% Cu
The ‘average’ intercept was 11.1m @ 2.3% Cu (252 intercepts)
The best intercepts are below… noting not all are of true width
Given the results I can’t see how a mid-tier (or private equity) with a decent balance sheet can’t make this work…. Nifty sale will be the big rerate…and a resource upgrade in Feb/March should help the process…
MLX Price at posting:
7.7¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)