I am a medium term holder. Good to see buying interest come back into the stock after so long.
Company is well cashed up almost 100Mill AUD, made some brilliant sells (it was the gold holdings) into the more buoyant markets 6 months ago, adding to that cash position. Bodes well- a strong defensive postion for this company in potential market turmoils now. Jichuan retaining holdings a big thumbs up for MLX- speculation about adding to holdings is possible- we'll see soon enough, but since the register is so tight, it is so easy to push this SP up as we see today. PE ratio of 5 is a joke. Its just the lack of a growth story thats hampering this SP- hopefully some chinese buying will change that and bring more buyers back onto what is essentially a very solid co.
MLX Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held
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