Hi bvt, while the markets are having a bit of a shakeout and many investors are sitting on the sidelines, most of the stocks which I follow are well off their highs, but as long as the fundamentals of the stocks are sound, I guess we just have to be patient.
Wingellina is obviously going to take time to have a major impact on the SP, but it will be a massive project when it finally gets under way.
The holding in WGR is one of the main attractions for me, as they are sitting on two very big resources, and will become a significant producer of gold and copper.
The Alamar holding also holds great potential, and Mongolia is shaping up as one of the world's best addresses for finding large-scale mineral deposits, including gold, copper, coal and iron ore.
With over $100 million in cash, and good cash flow from the tin (plus silver and copper credits now improving profit margins), MLX is looking like a very good investment. I certainly wouldn't be swapping my MLX shares for shares in a company with no production and an uncertain future.
Cheers, Mike
MLX Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
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