Oh boy, I've owned this one in the past as well. First into it at $3.76 mid 07, then rode it all the way down to 9 cents post GFC. Bought BIG at 11 cents and bailed at a$1:50 odd. Came out the other end with a big return, but it wasn't without heartache. It's been in the pits for the last few years. I've not followed it too closely since. Two copper mines, Mt Gordon and Nifty. But one was sold recently, I think it was Mt Gordon, but a quick check of their website, would seem to suggest they still have it. So not too sure.
It's the Australian arm of an Indian conglomerate. Not too sure how well they manage this end of it. Obviously Cooky sees an opurtunity and is wanting to diversify. But at what cost? from my experience and memory, both their copper mines are marginal at best.
Oh, one of the operations had a geological "event" occur not so long back. A great big sink hole opened up and caused extensive damage. Shut the operation down for a while. Which one I'm not too sure. Like I said, only now take a cursory interest in them. Was glad to see the back of em.
MLX Price at posting:
$1.38 Sentiment: Hold Disclosure: Held
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