There is another way to look at this. If we had another 4 sets of shareholders like Jinchuan we could sell all our shares in Wingellina and recover a total of 176mill *5 ordinary shares .(880 mill shares)
That would leave 1365-880 or 485 million shares .
For this we would have $165 mill in cash and near cash equivalents or 34 c per share.
The tin mine and the tailings would therefore have no value which is patently nonsense.
Jinchuan have been outsmarted before notably by Fox but it was a rare occassion.They are world leaders in the understanding of nickel laterites and their metalurgy. They not only have great metalurgists but understand and have networks in the market. I think the next entrant into Wingellina will have to pay more.
A final point to demonstrate how highly Jinchuan value Wingellina please remember they had 12.5 % of the project before .
Synopsis The sum of the parts is much greater than the market cap.As the values of the individual parts are being verified the market cap will have to go up which is something most of us figured anyway.
Good luck all holders
MLX Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
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