Took a bit of a haircut and sold most of what I had. Very intrigued to see what eventuates but need to move on
The Mt bischoff c&m is not really material - $1.5m pa for six years MLX share..
I can’t understand why the take or pay contracts they have for equipment like the jumbos can’t be shifted to other mines (albeit take a haircut). I can’t understand how C&M should be over $10m pa - they need to review this (and sell nifty).
Renison having geotech issues is the big kicker and the one that probably blind sighted most punters... guess there’s a lesson there and no doubt the piss poor management hasn’t help one bit.
You’ve now got one Renison JV partner trading at A$300m equiv (only asset) and the other trading at A$70m equiv (+ nifty and wingellina)... surely some arbitrage opportunity there
MLX Price at posting:
7.4¢ Sentiment: None Disclosure: Held
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