Well that's completely changed my opinion of MLX Management - what a bunch of clowns!
They were repeatedly touting everything was on track until about a week ago and now they've turned 180. Spent heaps of money developing a resource that we will never recoup and now going to spend another 20-odd million in the next couple months, until they can work out what they want to do with it. If they didn't have the fortitude to stick with the project and see it through, they never should've started it. At the very least, they shouldn't have materially amped-up spending with the "Nifty Reset plan" - they should've put it on C&M earlier this year and shopped around for a potential buyer/additional funding/part owner, etc.
Nothing like spending someone else's money ey!
MLX Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
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