Thank you to everyone who has commented. Yes, the valuation is far from perfect. It was more created after I saw the fall in SP so I could see if MLX is undervalued over medium-long term, which I believe it is. It began as an evaluation of the production margins and expanded from there, but since I have not yet looked fully into the history of the company, I did not take into account the tax offsets and higher grades coming. The future looks favourable imo.
As to why I chose MLX to do this, I have little interest in PM miners or any of the bigger companies, as well as all of the lithium/rare earth plays that seem to be the talk at the moment. I prefer to look for relatively smaller producers with strong balance sheets, and MLX fits this bill. I found MLX after a momentum play in NC1.
MLX Price at posting:
49.3¢ Sentiment: None Disclosure: Not Held
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