Mined grades increasing to 1.41 % from 1.23% previous Q shows and proves the Area 5 is the motherload.This is a massive win for Renison.
Wait for the talc & sulphur to reduce and recovery increase. This is common for old underground mines and fully acheiable.
Also,paste pipe burst out and blockages is normal in the commissioning phase. Still poured 3,500 m3 of paste so the stope next to it must have been pretty high grade.Thats the average size of one stope for an mid teir UG operation . I assume,this Q they should fill atleast 10,000 cubes or roughly around 3 stopes .One stope a month( very conservative). Then the high grade stopes next to it will come online.Which is already proven to be a cash cow.
Also,$100 million in 3 month term deposit earning $1 million interest. I love how they are cautious and fully support this rather than buyback or acquisition just for the sake of it. We'll need the $ when Rentails kicks off.
Not to mention tin price improving.
~$125 mil cash ( receivable - outflow) and the company with proven 10 yrs mine life with potential to longer is valued at $250 mil ,go figure ???
So,just sit back relax hold and accumulate.
MLX Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
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