Took another bite today. It's beaten up pretty bad (and rightly so) - but if you think it'll turn around, the time to accumulate is when it's down.
Management sounded very knowledgeable on the call, but they weren't arrogant - just told it how it was and said they need another 1-2 Q's working on Nifty, to get over the hump. That's about another $20M in cap. development - but if they're confident in the resource (and they re-iterated they were) and that's what it take to unlock it, so be it. They also re-iterated they were very confident in Renison's future.
May well get cheaper in the next 6 months (who knows?) but I expect that an investment at these levels, will seem pretty wise in a few years.
MLX Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
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