Probably a bit early to get their ASIC down to $20k/t, will need to be well into to the high grade ore for that. I suspect $23-25k/t is more likely. Assuming a margin of $13k/t and 10ktpa would still put it on an EV/EBITDA of about 3. That is ignoring assets other than cash. Still pretty cheap, but the margin has definitely compressed considerably from the highs.
MLX Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
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