The main game being CMP and this will most likely be the major share price catalyst.. delays or blow outs will not look good whereas on schedule on time first production Oct 15 means we can look forward to increased production Fy16 and substantially increased earnings FY17..major re-rate of share price..
The other catalyst of course being the POG which is drifting at the moment and is actually 7-10% lower than their price assumptions in the CMP valuations.. slightly offset by the even lower AUS $ however..
I must admit to being slightly nervous about bad news out of CMP especially after such a good run up in the share price.. curently sitting on a 50% gain..
Upside is the fact that to get to production, funds are secured by cash in the bank..this is a great position to be in but once again, the risk remains that the allocation of those funds must be efficient..MLX board would appear to be capable of achieving this but across such a large project there is always less margin for error..
MLX Price at posting:
$1.29 Sentiment: Hold Disclosure: Held
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