Interesting that this Ore Reserve does not include a lot of the recent high grade tin discoveries. As a back of the envelope exercise I applied their mine-wide average dilution factor of 13% and 95% mining recovery to the extra high-grade resource (M&I) and got a total of 10 Mt @ 1.2% Sn = 124 kt Sn which is 50% more Sn than the current reserve. Quite a jump. Hopefully by the time the 2020 Resource and reserve updates roll around, with additional discoveries and conversion if Inferred resources MLX will be able to improve on that figure too.
My investment in MLX so far has been a disaster. I loved the tin story but did not look closely enough at the copper My bad.
MLX Price at posting:
17.3¢ Sentiment: Buy Disclosure: Held
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My bad.
(20min delay)