I'm talking about money flow and market sentiment. What you're talking about is market efficiency.
For instance MLX's sub-holding NC1 the price is going through the roof. As far as I'm concerned largely on market sentiment or speculation. Couldn't some of that be rubbing off in MLX. I see MLX a far safer way to access that Ni potential.
Futher MLX is spinnig of large wadsof cash. How does one value the optionality of that cash or the ability to earn an above-normal return on it? I suggest with MLX the forward price of Sn was not reflected when it was 8c it is more so at the current price but I'm holding it as part of a portfolio for management's ability to use the optionality.
I'm sorry the answer isn't more cut and dry.
All IMVHO.
MLX Price at posting:
76.0¢ Sentiment: Buy Disclosure: Held
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