Think that in order to get the Yunnan smelter and the Thai one to take diverted tin ore, MLX had to finance the ore through smelting. Fair enough deal. Not get paid till a bit later. That's OK, but the Malaysian smelter operators have now paid all money owing, in order to start up Renison concentrate again, and the normal basis was payment on arrival at the smelter with 5% with-held till it is seen how the concentrate pans out. This will be better in that it reduces need for MLX working capital tied up in ore in the smelting processes. Its not a huge thing at the moment, MLX is no doubt very liquid with building cash pile, but it is another positive in the overall picture.
MLX Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
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