The quarterly spells out the capital improvement projects underway, including Area 5 ($60 million), thermal upgrade and rentials study (tailings treatment) which is over $100 million in spending. Plenty of options to use the cash flow on to reduce costs and expand production at low risk.
There are surrounding tin deposits owned by others that might be developed down the track if attractive.
Shareholders have received shares in the copper and nickel floats in the last year. A dividend would be unfranked, so spending on expanding output while tin prices are high seems a better option.
We do need broker coverage as the share price is much too low. I bought more today. Load up while you can.
MLX Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
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