Ann: Quarterly Activities Report, page-189

Its not that he doesn't like it, it's that the Rentails Project is a simple retreatment of an existing tailings project, just about the lowest risk and easiest expansion possible, with very very low capital and startup costs. His criticism was coming from the lazy balance sheet thesis that if MLX is hoarding that much cash, then they should stop being lazy and find a use for that mountain of cash in an organic or inorganic growth opportunity, or if they don't want to do that, then return the friggin money to shareholders either by a share buyback or dividends....

Thats why MLX trades at such a discount, the market thinks that shareholders aren't going to be the beneficiaries of the Renison Tin Mine, rising Tin prices. The offtake partners, Yunnan Tin, APEC, and some Hong Kong hookers and dealers might be, but the market is telling us that it thinks that MLX shareholders themselves won't be beneficiaries of this world-class tin deposit.

People have invested in MLX because they have an opinion about Tungsten and the Renison Tin Mine, they don't want to be unsecured creditors in other agendas or the shell games of interests trying to sidestep FIRB approvals.