I dont mind softer tin prices during an mlx growth phase as suggested. First tin and or greentech deal if successful plus rentails will be coming online during a projected 60ktpa shortage to 2030. Buy back offers low side protection. Inventories are low and cant go much lower. Scrap is filling the gap but raw material shortages will worsen during a time of tin demand growth through next year and beyond. Smelters out of maintenence phase, how long can they keep up this production?? Solar continues its march as does electrification despite good ol trumpy. if mlx keep a strong balance sheet and position well for growth, keep up the buyback and transition to dividends when appropriate this is a fantstic opportunity. Sure we'd love 50 k tin now but that will happen at 4 percent demand growth yoy with little supply in sight. Those alluvial deposits come and go ( look at thailand in the 70s) so who knows how much reserve is left out of myanmar if and when it comes back. Furthermore indonesia remains an issue environmentally. In summary, patience. Those crypto bros are mighty happy though.
MLX Price at posting:
45.5¢ Sentiment: Buy Disclosure: Held
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