I think you're dead right CMO. There are reports coming out of Germany that people like Tesla and VW are tooling up to produce EV's. There's no point ripping the internal fibre out of the co. by flogging a dead horse into the ground before it arrive (pardon my metaphors). In fact being rational and shutting down unproductive Cu mines is what will help the Cu price get to where it needs to be. I'm not even sure the $3.50 will eventuate in two years because of the trade wars.
I've been through this post the GFC when the Cu price stayed up for say 2 yrs and BHP was still touting it before we got what we're seeing in MLX. At least now the majors are showing restraint.
Even given all of that the current price is low and it's a buy hold.
MLX Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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