But I agree that some other cobalt plays made more. The "underperformance" might be due to
1. the fact that APAC and Allied Group (both Hong Kong) had a dominant shareholder position in the past. But it seems they want to get out. APAC stated that "We have put our investment in Metals X and Westgold Resources under strategic review and received shareholder approval to dispose of both investments within a 12 month period from January 2017." Perhaps they are selling just now.
2. the eventual financing of the Rentails project, let alone the Wingellina project, will likely mean a substantial cap rise / dilution.
Anyway, MLX ist my largest single investment I have ever made in my life.
I do believe that it is in the right commodities, has good ore bodies, good management, is significantly undervalued and is poised to profit from the EV-boom. But I see it as a long term investment not a trading opportunity.
MLX Price at posting:
$1.03 Sentiment: Buy Disclosure: Held
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