The peak price of tin hit $25,500 per tonne in May 2008. Tin has already advanced by over 40% this year being the top gainer of base metals followed by Nickel according to Resource Investing News. These two base metals are what MLX have the most, 8000 - 9000 tpa of Tin being in production at Renison & Mt Bischoff and 40,000 tpa Nickel in development at Wingellina (currently in discussions with APAC and Jinchuan, two of their major shareholders, for funding. They will also have 2000 tpa of Copper from the reprocessing of the tailings along with a further 5000 tpa of tin from their Rentails expansion project. When you multiply the tpa with their EBITDA margins you can only then appreciate the significance of their production and development potential.
MLX Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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