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!
There's a lot of moving parts here, but for MLX to be back in...
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Last
38.0¢ |
Change
0.005(1.33%) |
Mkt cap ! $344.3M | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 38.0¢ | 36.5¢ | $281.0K | 755.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 167465 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.0¢ | 100862 | 5 |
View Market Depth
| Last trade - 16.10pm 07/08/2024 (20 minute delay) ? |
| MLX (ASX) Chart |