Copperroad your reading a lot in to this basic appointment marketing of agent Bigbite Ltd (not heard of them and Google search provides nothing, release says associate? CM Group yes they known) release, my interpretation is that Management have not yet got close to offtake or sales contract themselves to date on what should be easily marketable bauxite ie common and well understood with the 5 or so obvious prime Chinese bauxite import buyers one of which is Xinfa who is a longterm shareholder of MLM and MMI and infact has a solid offtake with MMI on the bauxite hills bauxite similar grade and quality to Urquhart bauxite. I see it as a slight negative.. on falling back with agents they can be good and cost effective but no matter good or bad, there is always, well usually an exclusivity lockin engagement or retainer fee, plus always the obligatory Clip per tonne bauxite sold and to the margins...and in china one never really knows who is working for who, just know who will be paying. Until they get quality offtake contract I still see it as a significant outstanding risk. as for belated ML yes it would be good for certainty and have no doubt coming but think largely factored in already and IMO become academic for 2017.
MLM Price at posting:
6.2¢ Sentiment: None Disclosure: Held
