You have a lot of valid points. Regarding whether its truly gone...

You have a lot of valid points.

Regarding whether its truly gone or what value it has - in your post you have already highlighted everything.

I will not advice anything as market is severely down and there are still talks of recession. No one knows what's going to happen from here.

At the end of the day, its individual's risk/reward and expectation of what's going to happen. Each of us need to check for themselves what they have to do. So I am hoping you can make a decision for yourself what to do.

In my weekly report I track 43 stocks. One of the metrics I report is how much it has fallen from its peak. You can have a look and see if there is a pattern or how MLS fares against other stocks.

Also, another thing you can check is how much stocks have recovered from the bottom, just to get an idea of whether we are making progress at this stage or not. Eg MLS made bottom of 4.1c and currently at 5c - so roughly 22%. ESS made bottom of 31.5c and currently at 39c - roughly 24%. AGY from 26c to 32.5c today - roughly 25%. So you can see MLS is trading in a similar range to many stocks after hitting bottom - we still don't know whether that's bottom, but as of now. So at this stage recovery of MLS is similar to many stocks, if that gives any indication.

At this stage I am holding and buying. It may all go kaput from here, as you have pointed out. But in current situation and current sp, I am ready for a punt. It may work or not, I don't know. And I will keep evaluating as future unfolds. I see some value from risk/reward perspective, but that's my individual thinking, which may not turn out to be correct. All the best whatever you do.