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 has spent more than $150 mil trying to turn Nifty around in...
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Last
46.5¢ |
Change
-0.010(2.11%) |
Mkt cap ! $421.3M | |||
| Open | High | Low | Value | Volume |
| 47.5¢ | 48.5¢ | 46.0¢ | $1.295M | 2.740M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 137783 | 46.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 130905 | 12 |
View Market Depth
| Last trade - 14.08pm 31/05/2024 (20 minute delay) ? |
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Last
46.5¢ |
Change
-0.010 ( 1.96 %) |
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| Open | High | Low | Volume | ||
| 47.5¢ | 48.5¢ | 46.0¢ | 892477 | ||
| Last updated 14.18pm 31/05/2024 ? | |||||
| MLX (ASX) Chart |