If this goes ahead this should be very good for MLX.Post the...

If this goes ahead this should be very good for MLX.

Post the transaction we could look something like this.

• Debt reduced from $31m to $7m
• $34m interest in any success at Nifty by way of convertible notes
• $10m copper contingent payment coming our way from Capricorn Copper Holdings Pty Ltd
• The Wingellina nickel project with options being explored
• A tin operation likely to start delivering $10m+ a quarter based on:

Tin price of $31,500t
AISC of $20,500t (margin of $11,000t)
Quarterly production of 2,200
Approximate cash flow of 2,200 (production) * $11,000 (margin) = $24.2m MLX 50% share $12.1m.

So, we could see earnings per annum of circa $35-$40m so a PE of say 10 we could justify a market cap of $350m+ or a SP of 38c. If this proceeds once the trading halt is lifted, I strongly believe the MLX SP will skyrocket at least past 25c initially.

All in my opinion of course.