At $18,345usd, tin is handling the price pounding better than the other commodities (gold and silver the exception today of course).
The market will probably be bearish on commodities today but should leave MLX alone. Particularly when the market really digests the recent Wingellina report.
But who said that logic exists in this market...let's wait and see how today unfolds.
BTW...to those who want reassurance about MLX, go study the Southern Cross report of June last year and specifically note their increase in the intrinsic share value as each year ticks towards a full ramp up of Wingellina. The first big tick is now on the board as the company have effectively said "This is a viable project...let's now move on it and talk about funding."
Isn't it good that the two major shareholders are from a country that needs the tin/nickel etc and whilst they've got a currency pegged to the USD, they've got the surplus dough...and it will continue to swell whilst the Yanks buy more stuff from China than the other way around.
Right now its not difficult to assess MLX at around 73 cents and I believe this is a ten bagger at its current price.
MLX Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
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