Why don't you, for instance, go look at BTR. Over 1m Ozs gold - ALREADY PRODUCING, debt free, 1.7c ps (not that share price matters which shows the ignorance of your statements, it is actually MC or even moreso, EV that matters, and BTR MC is below TAM despite already being in production). These guys have a working plant in operation, nothing to spend other than to expand production and resource, all funded from cashflow rather than shareholders. There are many many many examples of similar stories on the ASX, in this commodity and others.
MLX is not a gold explorer or producer though is it? It has nothing to do with our primary business. The only reason we have shares in TAM is because APAC does. And that is the reason for the commentary on how bad this is. And instead of listening to me, why don't you listen to Rusty, a well respected commodities fund manager.
MLX Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
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