Squire - totally agree.
I also find MLX consistent use of 'cash costs' very unwelcome.
As simply put, they are scared to announce to the market what the ASIC costs are...
Also, capex across the board is increasing above their guidance.
Guidance of 300k ounces at a 'cash cost' of AUD $1300 is a terrible figure. I know in 2017 they should be able to get that down, but damn, they are some very average numbers. Of course, if the POG in AUD jumps, MLX will be fine, but right now, they are bleeding cash, and with the T/O of ABY, I actually think they are stretching themselves pretty thin.
Was thinking about taking a small position, but the quarterly has turned me off for at least 6 months.
Good luck to holders.
MLX Price at posting:
$1.03 Sentiment: Hold Disclosure: Not Held
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