having always been a fan of MLI and the technology they are using to treat tailings for initially gold but now it looks like they are chasing uranium and sulphur, I used the pause in momentum today to pick up a good holding at 5.3c.
the company was fundamentally undervalued before last night's announcment with cash of $21 million and a market cap of only $29 million as of last night.
having turned cashflow positive over the last couple of months, thanks to their gold production it gives them the opportunity to not only increase production in the short term but chase the massive resources as outlined overnight:
14 million ozs gold 184 million pounds uranium. 12 million tonnes sulphur.
I understand it is only a conceptional target but they have done incredibly well to get hold of substantial tailings that have massive potential upside.
I would expect MLI to be substantially re-rated higher on the back of increasing gold production and the lure of being a back door uranium miner.
