nogojo.
NST bought a business i.e. goldmine Paulsens so cheap most on time payment,majority paid for from mining the site.even the vendors shareholders forced a significant rise in price before accepting the faint accompli.
The Vendor having done all the development spending a truckload of money and from memory,NST even began stoping ore before the deal was done from memory,so a very different business scenario.
It was a no lose scenario,Bill Beamont having been the ex mine manager there.No luck involved,just canny buying from someone who wanted to be elsewhere.
As with all NST purchases production rises along with grade or milled volume.
TO MLX not the same-Rising cash in the bank sounds good until you take into account capital recovery from expenditure or purchases of the new businesses,less exploration and capital expenditure requirements.
So far nothing has changed from the vendors allocation of $48 or so million from memory for closing costs for me.
The new sites are running down the grade and per oz profit profile.
Chalice is now Kaput (end of DEC) due to an access collapse with some unplanned ore and ounces being lost.
MLX just confirming there was no extra resource to develop in Chalice.
Poor communication and leaving it to the QTRLY to pass on such information,as they did in a prior period at Rennison when they lost mining equipment,that reduced production,can't reassure holders.
Simply there is a difference between collecting a yard full of just mobile/scrap cars and being a vintage car collector and restorer for a profit.Anyone can buy a waning business CHEAP,but making it pay and turn around is another story
Its called innovation.
I however live in hope MLX shows some positive attributes,then I'll be in like flynn as i was with NST at around 4c.
Their new site purchase as i understand it apparently failed partially for Reid because the old miners prior to Reid cherry picked the resource and back filled the site with tailings/waste,without updating the resource model and Reid found itself mining waste which it couldn't sustain,until new sources were found/secured,before the money ran out.
Again communication-why did I have to read a news report about the extra paid some time ago-yet shareholders had to wait for the QTRLY as far as i can make out to find out about the extra $1.5m? cost.
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Last
57.5¢ |
Change
0.030(5.50%) |
Mkt cap ! $509.6M |
Open | High | Low | Value | Volume |
55.5¢ | 58.3¢ | 54.3¢ | $2.364M | 4.161M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 150518 | 56.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
57.5¢ | 1630 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 118518 | 0.565 |
3 | 155000 | 0.560 |
3 | 13100 | 0.555 |
5 | 88143 | 0.550 |
1 | 77000 | 0.545 |
Price($) | Vol. | No. |
---|---|---|
0.575 | 1630 | 1 |
0.580 | 150000 | 2 |
0.585 | 93609 | 5 |
0.590 | 45000 | 3 |
0.595 | 82000 | 3 |
Last trade - 16.11pm 08/07/2025 (20 minute delay) ? |
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