Hi all The stock is breaking out off the back of a robust tin price and a superb MLX quarterly last week. Strong volume today and buyers coming in at 55c now.. when the 55c line goes this will be off to the races. Fundamentally it is so cheap. I am keen to see how this story plays out medium term..
I am liking MLX management's strategy, making a 'hostile' play for Greentech, investing in Aussie metal explorers/producer peers and building a robust balance sheet which provides downside protection and a 2nd income stream of ~$12m per annum in addition to the biannual pmnts from CYM of circa $2.1m. The war chest can be used tactically.
I am keen to see whether they have a crack for Stellar (SRZ), particularly as SRZ is progressing the project to PFS 2nd half of this year and still trades at an EV of circa $25m.. Surely we could offer 4-5c and take it out? A hefty premium to the prevailing SP...
MLX Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
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