The most logical answer I can come up with is SFR (or whoever) is playing hardball in the nifty negotiations - effectively saying hand it over to us for nothing or it will blow your balance sheet up. The Hong Kong crew (APAC et al) with this announcement have effectively said - the balance sheet is supported by us so that card you thought you could play is now worthless, cough up the cash.
I think it’s a decent move knowing SFR are out of resource end of next year and need to get digging in and around Nifty/the Paterson in order to keep the bulk of their WA workforce (which is decent) employed and customers satisfied.
Either that or they are preparing the market for a cap raise when the Area5 study is released (I’ve got estimates of capex requirements around $30-$50m 100% basis over a 12-18month period for ventilation and development works).
News: MLX Apac Resources Says Wishes To Be Able To Buy Metals X Shares In Potential Equity Raisings, page-24
-
- There are more pages in this discussion • 157 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add MLX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
42.0¢ |
Change
-0.015(3.45%) |
Mkt cap ! $380.6M | |||
| Open | High | Low | Value | Volume |
| 42.5¢ | 43.5¢ | 42.0¢ | $1.533M | 3.581M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3725 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 1372 | 2 |
View Market Depth
| Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
| MLX (ASX) Chart |