Not sure how many noticed but MLX are spending plenty of capital upgrades - $21.5m last quarter. I'm assuming the ventilation upgrades are the most expensive and it looks like the majority of this has been completed. Other sitewide improvements ongoing but several were completed last quarter and Q1 2025 looks like other projects will be finished then.
It looks like they have taken the opportunity to upgrade the infrastructure all across the mine. All the work is paying dividends with grade and production up.
I think capital spend might have peaked this quarter. Q1 also looks like it has some activity. It would significantly boost MLX profitability to have capital spending drop from around $20m a quarter to $5-10m.
MLX Price at posting:
45.5¢ Sentiment: Buy Disclosure: Held
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