Broker valuation and further analysis, page-2

Elphamale, good post, however, I think there are two main reasons for MLX tepid share price.
Late last year they used script to purchase to assets, adding 40m shares, which, are clearly being sold on market from time to time (as those who received them needed cash, not shares).
Secondly, just looking through the half year report, their main gold project (for now), Higiensville, is not performing well at all. In fact its barely breaking even. Now if MLX cannot get that project under control, that does not bode well, as they are bring other mines online, with large upfront costs and heavy development. i.e This looks to continue for the next 6-12 months as a minimum.

Now they seemed to have purchased Mt Henry asset because the current mine plan for Higginsville was not working, which is a massive negative, as that means their LOM is a shambles. They are also looking to increase the size of the plant... another flag for me, its not working or making money now, so just upsize it and perhaps that will work. I know MLX seem to have a reputation for bringing projects up well, but I don't see it with Higginsville.

Then you have CMGP, which is running on a campaign basis, as in, they don't have the ore to run it 24/7. Which is def not efficient. Lots of U/G development ongoing, so perhaps another 6 months before the plant will be able to start generating positive cash flow.

The Tin division is cash flow neutral and thats about it.

I totally agree, on paper MLX looks great, but for me, once I start to delve into the detail, I don't like what I see. Hope I am wrong and you make a killing, but I am hoping to stick with known quantities, yes, they may not jump as much as more IMHO, risky stocks, but... if I had only ever stuck with the best run companies, I would have done far better than looking for the unloved stocks.