Sn down $1500 US/t tonight , so far. Might see a bit of a pullback in the sp, especially with the drop in oilers making them a little more attractive lately...
Normally, traders would worry, however a return to what we might call 'normailty' prices of around 40000, it possibly keeps itchy fingers and idle minds away from the exploration trend announcements, in order to boost ailing share prices. Meanwhile MLX quietly goes about it's business of making money...
I also had another thought about the current cash position, and for shitz n giggles, now I'm calling a share buyback after the half yearly. Dropping the MC [considerably?] makes it very attractive for insto's, especially those seeking a decent return on equity, for the run into EOY commisions.
Tightening the register looks a more attractive proposition , perhaps than any sort of new tpurchase [especially with likely prohibitive interest rates into next year] or new mine/tenement developements. Spend more on exploration and COGS reductions instead, and capitalise on current mineral holdings
Of course, this theory IS as a result of lack of sleep, so let's see how this ever mounting bank balance will be put to work.
By the way, anyone got any spare shares around .50 they no longer need?
MLX Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held
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