An update from Bell Potter in its stock picks for FY20:
The recently released Nifty Reset Planis a realistic strategy to lift copperoutput and return the company’s copperoperation to profitability and stronglypositive cash flow over the next two yearsin conjunction with an expected firmingin the copper price. The company’s50% owned Renison operation has justentered a new phase of expanded andhighly profitable production from the newore sorter facility with even higher tinoutput at lower unit costs expected to beachieved over the next year as recentlydiscovered very high grade ore near toexisting workings is accessed. The veryattractive Rentails expansion project atRenison also continues to be advanced.
MLX Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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