Call me stupid, but isn't the way MLX has acted at Nifty unusual? From my recollections, a couple of years ago they took over a honeycombed mine - the previous owners had taken what they wanted and left. MLX decided to focus on mining this part of the deposit first, knowing that it had low grade, a short mine life and needed considerable input before it became cashflow-positive. Generally miners do it the other way - look for the best part of the deposit (good grades and easier work) and aim to get quick cashflow in order to pay back debt, etc. Then, when times are good, they can come back to the difficult parts of the orebody. Wouldn't it have been better to ahve completed a targeted drilling program before they reopened the mine? In comparison, the team in Tassie have been much better at extending the tin mine. Yes, tin has a much higher price than copper, so they have less pressure, but is there another factor? I am not trying to downramp, I am concerned at the direction at Nifty, amigos.
MLX Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
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