It's funny to me how much MLX reminds me of GRR, the ASX-listed iron ore company.
Both companies:
- are single-resource producers
- have their mines based in Tasmania
- have a large controlling interest/involvement of Chinese ownership
- don't bother with much marketing/promotion/communication to the retail shareholder market
- are/were operating on incredibly low P/E ratios vs. the rest of their mining industry peers
both were also sitting on large cash piles without much share price movement relative to their fundamentals, that was
until GRR decided to provide a hefty dividend with some of their cash pile in Feb 2022 and the share price immediately took off as a result. It's since plunged back down and hasn't recovered nearly as much as the rest of the profitable ASX iron ore stocks
just shows the power of sentiment/publicity also plays in market performance, as well as the discount that ASX companies that are perceived to have Chinese meddling involved seem to run at as well... as otherwise the fact that MLX trades on such a low ratio looks pretty ridiculous
(20min delay)