Not wanting to sound like our mate ghosta, but I will point out that the price of nickel is going to have no bearing on this stock at the present. That mine is, at best, 4 years and a hell of a lot of work from production.
You really cant put a time frame on when a stock will hit a certain point. As John Meynard Keynes once said, "Markets can stay irrational longer than you can stay solvent".
The company based on its assets and current metal prices is worth north of 50c now on my valuation, but until that potential revenue is actually earned and until this stock is priced efficiently, ie. price determined by institutional investors, it is impossible to say.
We have seen some large buying in the stock of late, some of which has been from JP Morgan, which is a great sign. The wheels are in motion. I think, provided that the price of tin remains at or close to current levels, MLX should see substantially higher levels as production at Renison draws near. And given that is not all that far off, the stock in my opinion remains an outstanding buy.
MLX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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