Been a very long term holder of MLX and no dividends or share buy back required now.
Sit in cash ,restart the Rentails when the cycle turns around is the best utilisation.
Vent for Area 5 is now raisebored .This is a major win for Bluestone. Nifty was promised to produced 40k copper by the then MLX management and failed due to the orebody underground being ecomocialy unaccessable due to vent constrains.
Electrical infrastructures and paste fill plant project progressing simultaneously.
Start rentails without dilution and double the tin production from tiel 1 mining judictision.
Hong Kong boys still continues to control MLX. APAC is maxed out in their % holding without triggering the compulsory buy offer. Old peak has started to offload just before the recent downfall.MLX is backed by forces unseen. Even the loan payment from Asia Cheer ( subsidiary of APAC) came last minute un conditionally without gaurantee to pay off Morgan Stanley debt after the entired board was cleaned out and Brett Smith took over.The HK boys knows what they are doing. The sp went from 8c to 80c not just because the tin price went up from 20k to 50k but primarly due to the divestment of Nifty Copper, Wingenilla Nickel asset and the entire focus was turned to Tasmania.
Sit back relax and enjoy the show.
MLX Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
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