MLX 6.38% 25.0¢ metals x limited

Looks like mining will commence in Area 5 in the first quarter...

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    Looks like mining will commence in Area 5 in the first quarter of 2020. The grades here are high, maybe double what has been run of mine to date. This will produce much more tin from the same tonnage mined. costs will be no higher other things being equal, so the extra revenue will mostly go straight to the bottom line. By this time the rejig works at Nifty will be complete or very advanced and a mild profit may be reasonable to expect for a few years at least, from Nifty.

    Lately the A$ has moved lower into the late sixties, which will counteract the slight fall in copper and tin prices just now. I think early next year may see some news on Rentails, which contains a lot of tin and is virtually a foolproof investment.

    About $7 ill is budgeted for regional exploration in the Paterson Province around Nifty, and there are plenty of surface anomalies of copper zinc and gold along the axis of the Nifty line of mineralisation both North and South, which have seen little exploration activity. Something could turn up. This amount of money will buy quite a lot of drilling.

    By early next year the news flowing looks likely to be very positive, and net earnings will almost explode.

    An old investment sage has said the stock market is the means of transferring wealth from the impatient to the patient. My patience has run pretty thin, but when all are gloomy is the time to buy. When the good news starts flowing, it will not be possible to buy in at anywhere approaching the current prices.

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