RNI is what 7% of MLXs market cap? If there was enough value there Cookie would be all over it. Every listed company is potentially open to a sale and directors are obligated to consider offers that are in the best interests of shareholders.
John - thanks for the spreadsheet. From an investment perspective MLX is pick of the bunch for me. Diversified asset base (by number of mines), low reserves to resource ratio (ie plenty of upside) with excellent exploration prospects, extremely disciplined approach to deploying capital, relatively high grade and management team that know how to run mines.
CMPG carries risks - no doubt - although Peter Cook has been involved in the area strongly for last 10 years. And even if development/production risks occur to a level where the operation is unprofitable on a risk adjusted basis it will have been worth the punt for the price they paid. The low acquisition costs reduce financial risk. Fact. More upside potential than downside as a consequence.
MLX Price at posting:
$1.21 Sentiment: Buy Disclosure: Held
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