Seems to be a very good opportunity for growth here. Production was 1,141 in July but August and September were affected by a shutdown and winds / rain. Of course impossible to tell if it is possible but 3 x 1,141 is a quarter over 3,400 tonnes.
They seem to be spending a huge amount in capital spending at around $20 million a quarter + they have been buying a lot of new equipment from previous reports. While it impacts the cash going to the bank it seems like they are modernising / improving the entire mine / site. Every quarter there seems to be projects completed and others in progress or starting. Seems like a lot of activity for an old mine. At some stage you would have to expect the majority of these projects have been completed and some extra money will flow to the bottom line.
A lower cost Rential project that could come to market quicker is obviously a dual benefit for MLX as well.
Next quarter with no impediments to production potentially should be a cracker.
MLX Price at posting:
42.3¢ Sentiment: Buy Disclosure: Held
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