Yes - even if the price of Tin moonshots then MLX shareholders won't be reaping the benefits, this is an APAC controlled locked box and the only events that unlock this box are s249D's which is difficult because of the locked box nature, a sale process (which is unlikely because this is a long term thing and the Chinese never willingly sell anything ever), and the captive board is a big hurdle. The only other liquidity event would be some sort of regulatory intervention/forced divestment by the Australian Government, which is not enough for a viable long-term or short-term investment thesis because if that happens, then it could only mean that the shooting has started in the Straits of Taiwan, and MLX would be the least of our concerns!
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