Respectfully I suggest you read Bell Potter's report again. You assessment is full of error.
eg. Bell potter says -
"MLX has given production guidance for its gold division for 3QFY16 of 58kozs at an average cash cost of sales (approximately equivalent to all in sustaining costs) of A$1,300 per ounce. We regard this cost guidance as being conservative given MLX achieved an average cash cost of sales of A$1,377 per ounce in 2Q FY16 ......................"
Compare with hedge of $1612 and todays spot of $1703 - how the hell do you say that is not profitable NOW.
Second highest resource on the ASX - one of lowest EV per resource oz - proven mining team who are set to turn around the recent low cost acquisitions. What's not to like ??
Well IMO the T/O of ABY is the only downside. The Nifty mine (I fear) may have hidden problems.
Above is IMO - DYOR.
MLX Price at posting:
99.0¢ Sentiment: Hold Disclosure: Held
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