Should look at why there is not much interest in MLX.
The current market and performance of the asx and internationally. Most spec resources and small asx producers have corrected and/or trading at near 12 month lows. MLX is no different.
MLX needs to achieve target production and costs from Renison, the previous attempt was not at all a success which will keep some players on the sidelines until at least first results are known. And no, producing the first concentrate in July does not confirm this. See previous post on this.
The tin market is not widely followed or known by funds or market in general. Its also very small and subject to rapid variations in price over recent years. Watch closely LME tin stocks.
When some or all of these factors turn around then will see MLX challenge the 45c level again and become a strong turn around stock. There is very minimal tin exposure on the asx. Right now given tin market not backing off the $22000/t mark and so far successful restart at renison MLX remains a strong potential turn around stock for me.
Wingellina, again, think this is a long term play and unless there is some more early project interest from Jinchuan then will not be a strong sp driver short term, especially while nickel is currently in the dog house.
DYOR
MLX Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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