It never ceases to amaze me how much retail shareholders sh!t the bed at the first sign of any profit taking. A little bit of perspective is always nice - this thing was up 75% in the last month and has now pulled back to a 56% gain in a month... are you not entertained? If you want parabolic moves go play in crypto’s. Pull backs and consolidations are part of a healthy market.
I can share some frustrations on the length of time for finalising the copper sale but this is all part of business especially with the challenges of border closures and potential FIRB issues to consider. If you’re desperate for an update reach out to mgmt - they’re very responsive.
As for the pullback - this could be a range of things from hot money that came in on the breakout selling to chase the next hot thing to Argyle Street continuing to sell down as they have been taking profits since taking L1 Capitals stake around April. I’m comfortable they’ll sell nifty and Renison will print.
MLX Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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