Looking at MLX this afternoon I have roughly worked out following.
30 June 2021 MLX was valued at c. $235m MC, was net cash 0, had CYM investments/debt and NC1 probably valued at nothing.
30 June 2022 MLX gonna be $390m MC (as of today), net cash $120-130m, holding $30m of NC1 shares/oppies and still have our CYM debt/investment.
The EV is almost unchanged over the last 12 months.
Despite this MLX have delivered a good year, they have done a stack of capex and we are about to enter the high grade with tin prices picking up again (tin was 33k on 1 July 2021)
I feel like a major baggie after the last couple months but when you look at the above it doesn't make a lot of sense.
MLX Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
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