Sales in the last half year were 4532 tonnes. Even taking the lesser interpretation that production will be 10000 tonnes per year once area 5 is finished this implies a 10% rise in output. Prices are currently over $A 60000 per tonne compared with under $A50000 in the December quarter.
That suggests revenue to Metals X (50% of Renison) could rise to close to $A300 million in a full year when Area 5 is completed if current tin prices (and the $A exchange rate) are unchanged. In that case the forward PE would be well below RavingStarcks 5, as this just assumes a doubling of the last half year earnings.
MLX Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
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