Conservative is good, but likewise hoping for better numbers. Tin price quarterly average will come in at A$37,700 or thereabouts. Just a few more days to go. Won't change much.
Also agreed from 2024 onwards - barring unforeseen circumstances - MLX should be churning out cash reliably. No idea what tin price will do next year but feels like we're near the cyclical lows. So call that A$35,000 base level vs upside scenario of, say, A$45,000.
Lastly, think that Brett & Co will finally make a move on capital allocation around end of Q1. By then they should have enough visibility on what to do in a sensible manner. I'd go for a 5% share buyback as long as we are still dirt cheap ...
MLX Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
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