Hard to see where the bottom is because much of the share price is linked to the tin price. However, if at the end of the quarter we have $130m cash plus CYM convertible notes, plus NC1 shares and options that puts us at around $200m which should be the absolute floor. MLX also has significant tax losses and the Rentails project which should be very valuable with good tin prices.
Area 5 kicks in shortly and the majority of capital spending should be complete at the end of the quarter.
As long as we churn out decent tax free profits we are a bargain at $250m market cap now. at $200m it's a no brainer with the market cap covered by assets. If the tin price gets hammered down then that's the only real danger apart from operational performance.
If the markets take a big tumble then likely MLX follows, but if profits are unchanged then it just makes the company an even better value proposition.
I think most agree here that some sort of capital initiatives such as dividends or buybacks would be the best option to either reward shareholders or increase the share price.
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Last
44.0¢ |
Change
0.010(2.33%) |
Mkt cap ! $394.5M |
Open | High | Low | Value | Volume |
43.0¢ | 44.5¢ | 42.5¢ | $477.5K | 1.095M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 223 | 44.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
44.5¢ | 104353 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 73529 | 0.430 |
2 | 22661 | 0.425 |
6 | 132758 | 0.420 |
2 | 52200 | 0.415 |
3 | 121290 | 0.410 |
Price($) | Vol. | No. |
---|---|---|
0.445 | 64489 | 4 |
0.450 | 20000 | 1 |
0.455 | 150000 | 2 |
0.460 | 290895 | 6 |
0.465 | 1153304 | 3 |
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