Brenden
MLX produced minimal tin last qtr so would not have benefited from hedge at all. The cash cow from the nickel division will also be cut again this qtr. $25M should see them through to March but would not want to see them need a loan due to slower than expected ramp up or other issues.
The main question (and has always been) can MLX get ~550ktpa of dirt through Renison at 2-2.2% Sn at 70-75% recovery to make money?
The sp is not and will not reflect any positive action from the tin market unless they achieve this or be well on the way during the qtr. The hedging would then start to count. Sp will probably remain weak until further production guidence is provided.
Another interesting question is how Renison production will affect the tin market now?
metals are flying , page-18
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Last
43.5¢ |
Change
-0.015(3.33%) |
Mkt cap ! $390.0M | |||
| Open | High | Low | Value | Volume |
| 45.0¢ | 45.5¢ | 43.0¢ | $561.7K | 1.261M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 156720 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 33579 | 4 |
View Market Depth
| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| MLX (ASX) Chart |