IGO does have the advantage of diversified ops focussed on battery metals. Something the mkt is obviously paying a premium for. A fair wack of the mkt cap is a bet that the Greenbushes lithium mine purchase & Kwinana Lithium Hydroxide refinery will deliver. IGO does though have a big spend on exploration (JV's all over the place), a sizeable capex bill to expand Kwinana & also a need to bolster its Nickel capability as Nova ages (hence interest in WSA/PAN). By comparison, MLX is a lean, relatively uncomplicated earning machine with multiple expansion options. Upside attached to CYM & NICO that can be harvested with minimal risk attached. Barring a mine fail event, maybe the only downside is that management is happy to underplay & under-promote the company's success while Smith's APAC is able to take further advantage of the obviously cheap shareprice Raving
MLX Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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