MLX 1.28% 39.5¢ metals x limited

Ann: Quarterly Activities Report, page-127

  1. 180 Posts.
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    Welcome to MLX. I'm not WB but I've been around here for some time and think I can answer your questions.

    1. It seems they switched from reporting the imputed tin price net of TC/RC (see point 2) to the prevailing (pre TC/RC) tin price.
    2. TC/RC in the mining sense generally refers to treatment and refining charges. Think of it as the tin price achieved after treatment and refining charges have been paid. ie realised tin price.
    3. The reporting is done from a Renison tin operation perspective, and also at 100% of the operation perspective as per the heading. MLX only owns 50% of the operation. Those figures are what are "imputed" to the JV partners. With regards to the second half of your questions, we already determined in the second bullet point that they do not actually receive an average of the LME spot price because of TC/RC charges. They receive the LME spot bid price minus TC/RC costs.
    4. Those selling costs are essentially the TC/RC costs. You'll note that the tin price minus those selling costs are the same as the tin price net of tc/rc (i.e. if we use Dec 22 ($32,149 - $3,838 = $28,311) (Tin price - selling costs = tin price net of TC/RC)).
 
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