MLX has spent more than $150 mil trying to turn Nifty around in the past 3 yrs with no evidence of success.
The resource ,reserve and the grade is there.With the recent increase in development rate and improvement in paste , electrical and ventilation system , accessing that virgin reserve away from the troublesome central zone is near.
However I believe time has run out and sharks are circling (rightfully ) and soon Nifty will be a takeover target.Change in company name but the asset is solid.
To answer your question , yes shorting now is very risky. Well they have flagged Sept. Q will be flat so there might be an interim drop in sp when they release their Q but 15c for the asset they have is undervalued.Unfortunately with the current mgmt. Even 1c is overvalued.
Damn...maybe i should've applied for APAC's PR company
Ann: Change in substantial holding from MS, page-16
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Last
40.5¢ |
Change
0.005(1.25%) |
Mkt cap ! $367.0M | |||
| Open | High | Low | Value | Volume |
| 40.5¢ | 41.0¢ | 40.0¢ | $506.9K | 1.251M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 117811 | 40.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.0¢ | 177718 | 6 |
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| MLX (ASX) Chart |