IMO a class action will achieve zilch and it is good money after bad. Simply put, MLX is in a very difficult position as mining is a very cost draining exercise when we are talking smallish scale operations, and the drop in production from the 26Nov announcemement is nothing more than "that's business". Whilst i feel sorry for holders, had things gone well here, this would have been a good Christmas, but this is the nature of the risk we take in this field. The difficult question now would be what will Citibank do given this slide once again in SP. Hoping it all works out for holders.
drifta
MLX Price at posting:
7.8¢ Sentiment: None Disclosure: Not Held
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