In my opinion what people need to realise is that tin market is probably going to be really volatile. What is important and gives a margin of safety is if they can still eek out profits at low prices. The balance sheet has been hugely improved and Nifty gone.
Tin will have more swings. Its a small market and cyclical end use. I expect a few pulses up and down in price over next 5-10 years.
If we see 6 months of production at US50k and the peso at 60c we would bank $150m in a short time. Things might be lumpy but my take is on a medium term view this thing will gush cash.
MLX Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
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