So, tin up/ XMJ is up, but MLX is whacked again.
This has been testing the 25-26 cent level for a while, and may have now penetrated below the 200 period weekly MA.
If it closes below .25 today, and no decent news is forthcoming, then maybe 18-20c could come into play.
The only real support is around.09, which is absolutely preposterous, especially with this company's fundamentals.
Fortunately I found another 50 grand that is put aside or one last hit, but am no longer trying to catch this rapidly falling knife.
The financial and opportunity costs are just too expensive at this point in time.
Something smells about the tin prices of late and also the price action of this company, atm.
Let's hope Bretty has some good answers at the AGM this month, as I will be in the front row.
*Currently, the MLX website has not posted a quarterly since March.
* I have subscribed 3 times, with different email addresses. So far, not one email.
*Will the next stage of Rentails DFS be too cost prohibitive considering the upwards pressure on interest rates?
*Should it be put on hold until there is DEFINITE signs of long term Sn stock shortfalls and if so, is the DFS then redundant??
What then with the current cash at bank?
So, I hope he and his staff are going to give out some decent news, with some (hopefully) green shoots of positivity, because so far, without the non-cash receipts, things are looking a little paler since the March quarterly.
With the economic conditions we are now facing, things don't look so fantastic for the next quarter either, as mentioned by other members of this group.
DEFINITE clarification and shareholder engagement needs to be improved, dramatically.
This company is not simply for the long term benefit of the top echelon of the share register, and those currently benefitting financially from the company's coffers...
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