Interesting announcement. While the commodity is different it fits MLX's strategy of swooping in on distressed assets. Nifty has had a shite run of late - overstreteched deposit leading to a mine wide geotechnical event (SP tanks, production tanks, DMP issues PIN) then about 6-12months later a fatality underground, garenteed to kill stock price more (DMP investigations, PIN's, distractions). Add to this a falling copper price and its ripe for the picking.
Makes sense to me but the question is....have they gone too big too quick? Investors are a fickle bunch and any missed targets can crumble stock prices even though we all know we should be playing the long game.
MLX Price at posting:
$1.38 Sentiment: None Disclosure: Not Held
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