Poor production report, but tin price is now near $A49000, compared with $A40208 for first quarter.
Worth noting that despite poor production, cash on hand rose rose $A24.45 million (including over $3 million in interest) to $A 167.5 million, with the market cap at $426 million.
If they get production back up above 10000 tonnes pa over the next year then the current prices would raise revenue near 50% on the current quarter.
Tin price outlook and restoring production are the keys. I took some profits on the share price rise, but happy to keep a large holding.
Only 1 million odd shares bought back at 356 cps.
MLX Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
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