As frustrating as it is Brenden, you cant complain to the ASX because you think the sp should be higher. It is a free market and shares are only worth what people are willing to pay for them.
The nickel deposit, until it makes a dollar, will given a value of $0 in this market. And the $100m from the tin revenues is not in the bank yet.
I believe the stock is cheap, but so is everything in this market. There are a lot of things priced for worst case scenarios and worst case scenario for MLX is not good. If, hypothetically speaking, tin prices continue to fall and nickel prices too (to the point where wingellina is not viable) MLX is not worth much at all. And while they may have good strategic assets, none of their assets are making any money yet either. So the market doesnt care.
Dont get me wrong, I am still a big believer in this company, I think tin prices will remain firm, but as I said the market is pricing a lot of things for worst case scenario.
Markets can remain irrational longer than you or I can remain solvent.
MLX Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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