Latest analysis from NGE values MLX at $1 at current spot tin and FX prices:
"Our investment in Metals X (ASX:MLX) has performed very well, after we acquired ~10.284m shares at an average price of ~A$0.195 in February. Since our initial purchase, the tin price has increased ~60% to ~US$39,900/t as at the time of writing, and the AUDUSD FX rate has decreased ~7% to ~0.715. At spot rates we value MLX’s published mine plan – which is due to be updated – at ~A$1.00. This ignores any potential upside from conversion of further resources to reserves, optionality provided by existing infrastructure to tie in nearby tin deposits, and the impending nickel assets spinoff."
MLX Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
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