We await the Quarterly Cashflow Report with anticipation.
Whilst it wont be so revealing to those that know and understand the significance of much of what was announced in the activities report, it will serve to lock in the burgeoning rerating.
Alacer's last reported cash costs were $1140 - $1250 per ounce. MLX has brought this down to $812 in its first quarter of operation.
So, how do we move from ACG running a couple of marginally profitable gold operations, selling them for only $40 million, to have them produce EBITDA of $32 million in its first quarter as a stand alone operation?
Whichever set of numbers I run across these results, I find very robust economics showing MLX as one of the most undervalued Australian focused gold miners.
Anyone familiar with the steal NST pulled off when it bought Paulsens for next to nothing from IAU? Sound familiar?
All of that said, purely from a technical perspective, the MLX chart looks crackers. I would be surprised if we weren't testing new highs shortly.
MLX Price at posting:
19.5¢ Sentiment: LT Buy Disclosure: Held
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