Even if MLX wont need debt by then ,it should still finance the project thru debt.
With the cash reserve ,they need to expand their leasehold and go into accumulating as much lease as possible near the mine. Last time around they went on to do a hostile takeover of Nifty. We are on the same situation here,except we should now expand on the existing cash flow positive asset.
Also ,don't forget we need to pay NICO when it does its debu in ASX next month. And being a major sholder in NICO ,we will no doubt act like APAC for them henceforth. This is a good investment in MLX's part so least worried about that now.
The 2nd leg pilot has broken thru,reaming isn'tmuch far.Once the RAR is established then this will be the catalyst for MLX to fly thru not the tin price as many believe on here. -P
MLX Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
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