i imagine things will settle down. MLX will have a not so great QTR ahead.
Mlx has work to recover from a central pillar collapse that not only destroyed mining equipment,leaving it short,but left it consuming ALL stockpiled surface ore last QTR if you read beyond the headlines.e.g.. mining ceased if I am not wrong as a result for some time to consume those. Does that bring into play-overall tin mine stability going forward?
As for gold the sweetener often left by a vendor(golden egg) of already mined ore at their gold purchase has been consumed and now MLX have to mine for it as well as paying the royalties.That'll alter C1 costs I imagine.
At SKO there is a year of low grade stockpiles that unlike Higginsville don't have excessive royalties due.It'll be a case of reducing grade thru the year as its consumed. Then What?
Plus finding what golds going to be mined next QTR to make a difference going forward.
Yes a challenging QTR we're currently in and unfortunately for me doesn't justify recent share price rises. Rather the opposite.
Time will tell if MLX has bought into another lemon like REID RESOURCES,or actually has made an astute buy. $48m? in plant rehab contingencies allocated by Avoca some time ago for these sites.
DYOR+DYODD Sorry - Not buying the enthusiasm.WA might be slow in approving new mining applications/pit designs adding to ongoing running costs.Lets hope I'm wrong
MLX Price at posting:
20.5¢ Sentiment: None Disclosure: Not Held
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