Ann: Pesponse to ASX Price Query, page-72

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17/02/20

14:34

Post #: 42975865
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Originally posted by avtek ↑

from fairfax...

Bell Potter has cut its price target on Metals X slightly but retained its 'buy' rating on the stock, saying it still saw potential in the company's assets.The broker lowered its price target from 16¢ to 15¢, still 55 per cent above the company's 9.7¢ closing price on Friday.Metals X plans to release an updated resource for Nifty which is currently on care and maintenance, as it carries out a strategic review of its copper business.

"The strategic review is exploring all options for the copper assets but we think it unlikely Metals X will get a fair offer for any of them and that it should retain them," said analyst Peter Arden.He was also forecasting improved performance from the miner with tin mining in new high grade areas set to begin in the first half of the 2021 financial year.The broker said the company should look through the short term and exploit more value from its assets rather than sell them.

"Metals X’s inability to achieve forecast outcomes in the past few years has brought discredit on itself but we believe its three assets have greater value than is currently recognised," said Mr Arden."Metals X is unlikely to get a fair price for any part of its copper business in the current environment with concerns over coronavirus and lower global growth and we think it should retain its copper assets and restart Nifty on an appropriate basis in 2021 when copper prices are more likely to reflect the underlying supply shortages."

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Someones confident with a 68c buy pushing the shareprice up a few ticks to .097

MLX Price at posting: 9.7¢ Sentiment: Sell Disclosure: Not Held
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(20min delay)
Last 54.8¢		Change 0.013(2.34%)		Mkt cap ! $485.2M

Open	High	Low	Value	Volume
53.5¢	55.0¢	53.5¢	$2.138M	3.964M

Buyers (Bids)

No.	Vol.	Price($)
9	29069	54.5¢

Sellers (Offers)

Price($)	Vol.	No.
55.0¢	269015	9

View Market Depth

No.	Vol.	Price($)
27	315699	0.540
8	131659	0.535
14	471836	0.530
6	210023	0.525
17	312643	0.520

Price($)	Vol.	No.
0.550	268346	7
0.555	104400	7
0.560	134771	6
0.565	217741	5
0.570	242755	5

Last trade - 11.51am 26/06/2025 (20 minute delay)

MLX (ASX) Chart

Ann: Pesponse to ASX Price Query, page-72

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Ann: Pesponse to ASX Price Query, page-72

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