MLX bearing brunt of a quadruple whammy 1) Planned increase of tin prod by 25% to 10,000tons/annum. 2) recently increased resources by 61% (after depletion) 3) Tin price rise of 46% in under 4 months. 4) Competitors are declining their prod esp Indonesia traditionally a major producer.
MLX also has over 60m in cash and a 20% share in Jabiru worth another 50m. (see super new release from Jabiru this morning). Also holds 32% of Westgold resources. And ihaven't menbtioned the nickle or the HUGE stkpile of tailings at Renison contaning 0.4% Sn. For comparison average grade of hard rock tin mined across the world is 0.4%. Rension mine (over 100 yrs old) has that SAME content in its tailings just lying on the surface!! Yey 2 26c MLX has mkt cap of 355m. important to remember MLX owns half of renison. Sold other half for a song in heart of GFC.
MLX Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)