The cash tin price averaged $53,200/t for Q4. If we a can get similar type numbers to Q3 wrt grade & recoveries - i suspect another decent cash build ('guess' below). Some expectations:
1. Cash build >$25m to >$50m in bank
2. Production >2,250t and therefore guidance revision (currently 8,500-9,000) to 9,000-9,500
3. Update that the vent work is near done (possibly bar fan installation)
4. Further metallurgical recovery improvements
5. Probably no drilling data but hopefully news it is underway at Hastings
6. Commentary (possible in half year not quarterly) on what they intend to do with surplus cash given current balance and cash flow generation (and given the bulk of capex into Area5 is nearing completion)
I can certainly justify an easy 2x, possibly 3x.... the tin price would have to motor (highly probable) to see a 4x IMO
MLX Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
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