re: Ann: High Grade Tin Results Extend Reniso...
Just came in this annoucement. MLX has been the sleeping elephant ducking under the radar for some time. - TIN prices have already shown technical signs of recovery. Over 24K aus per tonne LME and rising.
- Fully cashed and good quarterlies coming up with improving Tin prices.
- Astute management with some cracking investment decisions (the last two sales of stocks in mining cos. have both been at its peaks, and needless to say, the WGR buy/merger has been gotten at a pittance- sorry WGR holders, but you will get the LT rewards in the climb of the MLX SP). resulting in close to A$90mill in the kitty and a great gold resource)
- Highlight of this drill result for those who cant open the PDF... intercepted significant grades up to 90m along-strike from the current resource boundary, with a best result of 10.53m @ 5.24% Sn in U4639...In the Central Federal Bassett (CFB) area, resource definition drilling continues to return strong results including 4.18m @ 5.26% Sn in U4625....
Not too late to get set at this extremely low prices. Could see this heading back to 22.5c averages from 6months ago, both technically and fundementally on the back of a rising Tin price. It is the only high grade Tin Producer in OZ.
MLX Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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