What Bell Potter doesn't seem to evaluate is the market...

What Bell Potter doesn't seem to evaluate is the market conditions and sentiment for this stock.
MLX has a market cap of less than $100M. Under normal conditions it could sell Nifty for more than this amount.
Due to poor management in the past and the market's faith in the company capacity to deliver results, MLX has put Nifty on the market.
If the company does undertake a capital raise without selling the asset, no one knows what kind of risk this will create for the company (i.e further dilution, offer to acquire the company at a very low price.). A capital raise will also confirm a valuation well below its tangible assets. Because of this I feel they have no choice but to sell the asset, an asset or part of an asset, in order to shore up the books and to give shareholders some respite. We already know that APAC is against another capital raise. Because of this I share the view that the next few months will look very good for MLX.
We have the following news in the near term:
- Potential Asset Sale or JV
- Results from Copper Drilling
- Results from Nickel Drilling
- Commencement of High Grade from Bell 50

I am hoping we stike all 4 so I can sell these shares in 4-6 months at 20 cents plus. Been way to stressful up until now.