Discussion on SP, page-439

Excellent find! Pity they don't have the following of Ric Rule as well...

After listening to their analysis, my homework into the top shareholders register , now makes far more sense.

Most are HK based [ and incorporated in tax minimisation havens, but that is another discussion altogether], inclusive of APAC, or by divisions of the Chinese govt system.
Some too are literally ghosts, who I can't seem to find a single fact about.
Also, smaller American investment companies, where access to 'local' tin producers is impossible.

As very sophisticated, long term investors, I can see why Chinese based companies have taken positions in MLX tin and also with IGO in Greenbushes, to name a few.
It's both defensive for future supply chains and of course, profitable . JV's mean that they too can probably control output, and in all likeliness, price.

RELATIVE supply elasticity just makes MLX all the more attractive, especially with our all round stability within the region, and the possible growth of resources for little relative CAPEX , with, by the looks, world's best ESG compliance.

I might just be able to trade those second hand Winfield blues I find on the floor at the bus stop, towards a few cheap kmart cigars yet!