When the cash comes in from the newly approved part sale of the Tassie tin operation, which seems to be going reasonably well, they will be sitting on a fairly large pile of cash, for a junior. They now have blocking holdings in three very promising other juniors with solid deposits mainly in the copper gold group, plus Wingellina, which Rio is starting to sniff around. If Rio come up with more nickel in the unexplored area farm in, which must be pretty prospective for someone their size and expertise to get involved, it could move up into a global top 10 deposit and if that happened the majors would all want to own it. Interestingly Rio have been prepared to get only 50% for their effort so it must be hot ground. Dont think Rio want the Chinese to control this deposit.
MLX Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
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