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!
MLX Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
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