MLX 4.40% 43.5¢ metals x limited

Ann: Quarterly Activities Report, page-70

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  1. 756 Posts.
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    They can sell nifty or shut it down if they can't turn it around. Then you're left with Renison, which as I have shown above appears to justify at least the current SP. Am I being too simplistic? I assume there are some costs associated with a mine in caretaker mode, but I would have thought it had at least a nil value rather than a negative value.

    That's why downside for me is you're left with just Renison, currently valued on a what 6.6x multiple!? Any turnaround at Nifty or even a sale is just a bonus. Also remember they seem to have well advanced plans to expand Renison with the tailings project, which sounds pretty valuable based on the feasibilities.

    Am I missing something? The only thing I keep checking (to make sure I've not screwed something up) is that the $8 million per quarter is MLX's 50% share... that is, the actual EBITDA of Renison 100% is $16 million. If I'm wrong there, then I take back everything!
 
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43.5¢
Change
-0.020(4.40%)
Mkt cap ! $398.7M
Open High Low Value Volume
45.5¢ 45.8¢ 43.0¢ $1.862M 4.217M

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No. Vol. Price($)
2 76054 43.5¢
 

Sellers (Offers)

Price($) Vol. No.
44.0¢ 9761 2
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