MLX

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44.0¢ metals x limited

Ann: Update - Notification of buy-back - MLX, page-32

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28/08/24

17:15

Post #: 75419718
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Originally posted by RookyKid: ↑

Please go back and have a re-read of all my comments from today.

1) I have not once suggested that MLX is significantly over valued by the market.
2) I hold shares because I'm bullish on tin and have significant confidence in MLX strong balance sheet. I like the cash and no debt aspect, and I like that they're printing cash.
3) I'm very happy with the board as a whole, I think they have made some good decisions in the past such as sell the Copper and Nickel assets, Investment in First tin, progressing studies on Rentails, and spending money on Ringrose exploration, and to date allowing cash to accumulate close to $200m before really investing in a buy back.
4) The ONLY thing I've had a minor whinge about (and probably my first whinge ever on MLX) is the fact that to me (and in my opinion) spending $36 million on a buy back (although not necessarily wasteful) seems (to me) as if it would generate a larger return to me if it were held for a further year or so (till tax losses are utilised) and THEN distributed as a dividend. I would be OKAY with management stopping the buy back tomorrow (so long as the SP doesn't drop much below $0.40). I guess it comes down to the fact that I'm not planning on selling anytime soon, and therefore a capital increase in the share price doesn't offer me much other than paper profits.
5) As stated earlier my biggest concern would be that we spend this money for a short lived increase in tin price. Hypothetical here is that if tin price came back down to $18k USD (as it did less than 2 years ago) or back to $24k USD as it was just 6 months ago, all the share price appreciation would be eroded away.

Anyway now that I've mentioned my point of view on it, and that I'm certainly NOT undervaluing MLX, for the sake of all the other readers, I'll stop arguing on my points of view which is not the same for everyone.

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In defense of your position on the buyback, you said if they bought all their stock back, except for yours, there would be no money left, the mine would be depleted, and the rehabilitation liability would remain. That is saying all future undiscounted cash flows equals the current EV. The rehabilitation liability would be unfunded.

Surely we can agree the stock is overpriced if that is true?

MC is ~360M, cash is ~230M. The H1 NPAT run rate was $30M, so it looks like you're saying there is only 4.3 years of mine life left.

MLX Price at posting: 40.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 44.0¢		Change 0.010(2.33%)		Mkt cap ! $394.5M

Open	High	Low	Value	Volume
43.0¢	44.5¢	42.5¢	$477.5K	1.095M

Buyers (Bids)

No.	Vol.	Price($)
1	223	44.0¢

Sellers (Offers)

Price($)	Vol.	No.
44.5¢	104353	7

View Market Depth

No.	Vol.	Price($)
1	223	0.440
5	286283	0.430
2	22661	0.425
6	132758	0.420
2	52200	0.415

Price($)	Vol.	No.
0.445	104353	7
0.450	31177	2
0.455	171570	5
0.460	290895	6
0.465	1153304	3

Last trade - 16.10pm 04/10/2024 (20 minute delay)

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Ann: Update - Notification of buy-back - MLX, page-32

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Buxton projects new graphite province discovery at WA Narryer play

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Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

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Ann: Update - Notification of buy-back - MLX, page-32

Top Stories

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

BCI reaches close of funding facility for salt-first part of Mardie project

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Buxton projects new graphite province discovery at WA Narryer play

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Featured News

Buyers (Bids)

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