AiA, I reckon the issue is not whether MLM is worth 25% of DRX but how well valued is DRX (& VRX, PEC, ASQ etc)
MLM is most probably undervalued but it's likely that DRX, VRX & PEC are also undervalued (Notwithstanding current frustrations regarding approvals). They all have has demonstrated they've got great potential....the offtakes and approvals each of these guys are waiting on will only bouy the whole Silica industry in Australia..Transport costs, although expensive ($25-$30/tonne) have all been costed and they are still indicating profitability, variability in quality and impurities all considered...
They're costed and feasibilities say they're proceeding to the next step in each instance
We don't argue who's better or best of RIO, BHP & FMG and not much about PLL, PLS and GXY
It's certainly not a competition between the local explorers and producers when Singapore alone imports 10 Million tonnes of Silica Sand per year. South Korea over 25million tonnes for glass making.
The holders of VRX, DRX, MLM, ASQ, SUV etc etc are already confident of Silica Sand potential... preaching to the converted?...or arguing who is better and best?
...let's talk up Silica for those who are yet onboard.
MLM Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
