3day x 7 day moving average, page-3

Doing a few sums, the cash held at about $90m is about 8.5 cents a share, the market value on market value of the Westgold holding about $25m with plenty of scope for improvement, with dual discoveries of Copper gold silver Bismuth and another of Silver Lead Zinc at high grades.
Thats about 11c a share before we add in the Tassie operations which now have the copper circuit available and Ravensthorpe getting up to speed,at time of much improved tin prices. Hard to say what they are worth but the Chinese tin smelters are interested enough to be buying half of it if FIRB approves. $50 million? Thats about 5 c a share taking it to 16 cents or so, then Wingellina.
Wingellina area is free and is expending its JORC all the time. It is developing into a global scale deposit but with one major plus- it is cheap to process due to low impurities, compared to many nickel deposits. It is on the surface with little overburden, an easy opencut proposition.
This will need alot of capital and now Rio is farming in, to part of the MLX area. This would suggest Rio is looking at MLX? Its big, and the exploration risk is over.
If Rio finds more I wouldnt be at all surprised if Rio comes up with some sort of partnership proposal for MLX or a takeover offer down the track. The Wingellina operation with its low acid demand and easy cheap-to-mine ore could be a real money spinner for a major. There arent any nasty chemical problems here. There are major nickel deposits in Australia who do have such problems , as many would be aware, especially Rio and BHP. On a value basis its wayy cheap buying at the current price, especially given that it has decent cash flow now from the Tasmanian holding. Renison is back.

IS MLX gearing up to increase it stake in Westgold? WGR is capitalised at about $90 million and is sitting on $22 million in cash too. Only 227m shares on issue. My guess is Westgold, which shares directors with MLX might tap into MLX for money in exchange for stock. Hmmm...that seems more likely. That would or could deliver MLX control of WGR. Or are they going to start the ball rolling at Wingellina? They are up to something, otherwise they would not be raising cash from positive cash flow asset sell-offs.
Oh yes, that most attractive characteristic of them all ..given all the above,no debt.