There's a lot of moving parts here, but for MLX to be back in the high 30's I estimate you'd need a tin price down around USD$25k and I just can't see it heading that low any time soon. Of course this is only my opinion, but I believe the main driver of the current lower price is not so much the inflation/slowing economy fears of the wider market, but more directly a drop in demand due to China's current COVID lockdowns. Once the lockdowns ease you'll see Tin comfortably above $35k, a price at which MLX is making excellent margin.
At the current price and with MLX cashed up, this is now screaming Buyback!
Discussion on SP, page-351
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Last
44.5¢ |
Change
0.015(3.49%) |
Mkt cap ! $403.2M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 45.5¢ | 44.0¢ | $2.095M | 4.679M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 22727 | 44.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.0¢ | 162042 | 3 |
View Market Depth
| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| MLX (ASX) Chart |