If you think MLX will be taken over you need to know that management hold a very big stake. Peter Cook and Talky Newton plus Warren Hallam have significant takes. There was a substantial holder statement today where a Chinese lady moved to 26 %. I assume that’s the YTC holding that vended funded the merger of MLX and Bluestone. She/they have board representation.
How this became clear to me was that at the AGM was talking very colloquially. he kept saying if you don’t think we are doing a good job you can fire the management. A dangerous thing to say unless you are . . . the substantial owner and are very secure.
Interestingly both Peter and Warren were goading the insto's effectively saying you wanted cash flow. low debt and a divvy. Why aren’t you buying it? that dovetails with an assessment above.
These boys have plenty of skin in the game and will do the job for us. (perhaps not like we expect though).
As a semi amusing quote Cookie said, "We're miners. If there was a dollar to be made in mining sh_t we'd be sh_t miners".
I kid you not
Cheers
.
MLX Price at posting:
80.0¢ Sentiment: Hold Disclosure: Held
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