so L1 is a late entry which has gathered 15% of the company at an average of around 18.5c.
that also explains the 72millon shares traded on 21st Oct.
Chilean unreast & progress in trade talk is supporting Cu price but I dnt think those institution took a position due to that or because of Nifty.
APAC is more inclined to put Nifty to C&M-
"APAC believes there remains tremendous value in MLX, primarily the Renison Tin Mine, but a fresh independent board is required to review the Nifty business case."
Either they have teamed up with L1 or L1 wants a piece of the action itself ? Regardless, sp will appreciate given the current board can prove that production is flat this Q ( too much to ask ?)
On other note, why is that Chinese dude still a director ? Didnt take up rights entitlement and dont seem to add any value to the board ? Maybe before announcing the Brett Smith is unqualified for the position, the current board should have a look at their current sitting members first ?
Anyways , Advance Congratulation to Brett for getting a board seat , he has a tough job ahead , fixing up all the mess created by the incompetent mgmnt.
MLX Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
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