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
MLX Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)