Just by way of clarification, I think it is not so much who the partner is, but rather the underlying uncertainty arising from the lack of control and the inability to make unilateral decisions which generates the discount. Certainly there are pros and cons with having an industry super-heavy weight as the partner.
In respect to our major shareholder, as a listed company 50% owned by Allied Group , I would assume that APAC would have a need for cashflow to fund their own dividend program . I didn't think it was a large company, AUD300m market cap. and its cash generating operations I thought were quite modest. So potentially a AUD10m pa divie would be significant. I very much doubt, given Tin's critical mineral status, FIRB would ever allow the acquisition by APAC of MLX, so not sure how APAC can be incentivized to depress the MLX share price..
Without derailing the discussion too much, yeah I know AEP, my wife has shares in a company where Jonathon Law also serves as Chairman.
MLX Price at posting:
71.5¢ Sentiment: Buy Disclosure: Held
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