Just looking over the southern cross equities research for MLX http://metalsx.com.au/investors/research/20070628SCE.pdf and in their valuation matrix on the left hand side of page 1 they have a valuation of 78c for MLX when the tin price is $US8.00/lb. By my calculations, the current spot price of tin per pound is now over $US11.00/lb, which would mean a valuation in excess of $1 per share. Anybody use Southern Cross equities and could get some more info on this???
Has anybody spoken to MLX's management of late in relation to the restart of Renison / tin price? The current price is at astronomical levels and, from what I read, it seems that inventory levels on the LME could slip below 5,000t in the next few months. This is less than 1 days global consumption.
MLX Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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