# MLX - Metals X Limited



## exgeo (10 January 2007)

This following has been copied and pasted from the BTX (Bluestone tin) thread, as the two companies have now merged and re-named as "Metals X".


Metals X. 

The price of Tin is predicted to stay high due to Indonesia having ordered the closure of some illegal tin smelters in that country. At the time of Renison's closure, Tin was about 8000 USD/t, now it's over 10,000.

Collingwood mine is producing now, Renison is still closed but management are looking at the economics of reopening. BTX are doing testwork using hydrocyclones to recover tin from historical tailings at Renison. The same technology could also be used to improve the recoveries of Tin assuming Renison is opened again. Capital costs are already sunk, therefore to reopen will not be too costly.

Post the merger with MTX (Metals exploration) BTX will also own the Wingellina lateritic nickel deposit in the Musgrave of WA/SA. 20km of RC drilling and 15km of RAB drilling are ongoing at Wingellina. MTX is profitable and was trading on a PE of 10 before the merger. They have royalties over some of the Mount Keith nickel tenements (BHP) bringing in 5 or 6m per year (at a much lower nickel price than now). MTX was paying dividends before the merger. Wingellina is a world-class deposit containing 1.78Mt nickel and 109Kt Co (181.5 Mt @ 0.98% Ni and 0.06% Cobalt at 0.5% Ni cutoff). Some back of the envelope calculations will show that at the current nickel price of about 32,000 USD/t there's about, well, quite a lot of value in the ground.

Lateritic nickel deposits are not all the same. Some (such as Wingellina) are amenable to an atmospheric heap-leach process as being used by European Nickel at Caldag in Turkey. This will hopefully avoid nightmares a la Minara/Anaconda nickel etc who used pressure acid leach (pressurised sulphuric acid at 225 centigrade anyone?). Of course, Wingellina is pretty remote, being situated on the WA/SA border, not far from the NT border. In addition to the nickel, some tantalising PGM hits were reported such as 4m @ 1.56g/t PGM (136-140m). Not economic in itself, but it was in the same zone as 50m @ 1.42% Ni & 0.06% Co (92-140m) and could therefore perhaps be co-mined. I emailed the company about the PGM and asked if they were going to re-analyse the samples from the earlier drilling programmes for PGM, but they replied that their focus is on Nickel for now. Presumably the current drilling will be routinely analysed for PGM though. Wingellina remains open along strike and it seems likely that there's more to be found.

The managment (Peter's Cook and Newton) is the same as Hill 50 Gold and Abelle Gold, both of which had tired assets that other companies had discarded (sorry, sold), were turned around and then taken over by majors at large premiums. They are canny mining entrepreneurs and heavily invested in the companies they manage.


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## mmmmining (13 February 2007)

*MLX Metal X Limited*

OK, since Joe is not able to rename the BTX to MLX, I just create one. Here is the last post from old BTX



			
				exgeo said:
			
		

> The price of Tin is predicted to stay high due to Indonesia having ordered the closure of some illegal tin smelters in that country. At the time of Renison's closure, Tin was about 8000 USD/t, now it's over 10,000.
> 
> Collingwood mine is producing now, Renison is still closed. BTX are doing testwork using hydrocyclones to recover tin from historical tailings at Renison. The same technology could also be used to improve the recoveries of Tin assuming Renison is opened again.
> 
> ...


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## mmmmining (13 February 2007)

*Re: MLX Metal X Limited*

The MLX is the merge of MTX and BTX

Overview:
a. 1bn share fully diluted @ $0.245, market cap at $245m.

b. Projected over $10m/yr royalty

c. A tin producer, with tin price is rising, at $12k/t

d. Key nickel asset Wingellina deposit, 177mt ore at 0.98%, half the size of Weda Bay, and twice the size of Ramu. The Weda is located in Indonesia, sold last year at $300m (CA$270m), The infamous Ramu is in PNG (HIG is caught up in Chinese slavery scandal)

e. The in-ground value of Wingellina deposit is about $60bn. I think anyone should be very comfortable to spend 1c to control $2.61 worth of deposit in Australia, a place with little geopolitical risk...

I guess MLX might not be a good candidate for day-trading, but for investment purpose, it might worth a look. 

I like companies with a lot of resources for long term investment. I have used this kind of approach in picking some good stocks such as CMR, HRR, EQN, and MTN at early stage.


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## exgeo (13 February 2007)

WHAAAT??!! A fundamentals-based approach to investing? Squiggly lines is where it's at mate. Head n Shoulders isn't only a shampoo y'know. Get with the times.


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## kransky (13 February 2007)

Do I sense a "little" sarcasm there exgeo?

LOL


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## mmmmining (13 February 2007)

exgeo said:
			
		

> WHAAAT??!! A fundamentals-based approach to investing? Squiggly lines is where it's at mate. Head n Shoulders isn't only a shampoo y'know. Get with the times.



Things never changed over the times, mate. I can still use shampoo to predict everything up to this minute.


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## exgeo (15 February 2007)

A couple of developments on the tin market. The first will not directly affect tin prices presumably, but won't ease the nerves of market participants (unless you're long of MTX of course!).

*Bolivia Seeks More Revenue From Glencore After Nationalization*
Feb. 14 (Bloomberg) -- Bolivia will seek to keep half of Glencore International AG's profit from two mines in the South American country. The government, which last week seized control of the Swiss commodities trader's tin smelter, plans to rewrite contracts with Glencore to get a larger slice of the profits from the Colquiri and Porco mines, Mining Vice Minister Luis Alberto Echazu said today in a telephone interview. Full article HERE

*Commodities: Indonesian smelter's cutoff sends tin prices soaring*
By Brett Foley Bloomberg NewsPublished: February 13, 2007
LONDON: The price of tin rose Monday to its highest level in at least 17 years after an Indonesian producer stopped receiving ore from suppliers. Adding to the upward price pressure, a forecast said that Chinese exports of tin would drop 10 percent this year. Malaysia Smelting said that its Koba Tin unit, one of the top two tin miners and smelters in Indonesia, had stopped collecting ore from small miners amid a police investigation into whether it bought ore from unauthorized miners. Full article HERE


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## mmmmining (15 February 2007)

If you think you have missed out on WLF today, you should take a serious study at this Tin producer, real production, not greenfield, brownfield or whatever colorfield explorer.


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## exgeo (8 March 2007)

Stockpiles of nickel monitored by the LME dropped 4.3 percent to 3,648 metric tons, the LME said today in a daily report. "The cupboard is bare," Nick Moore, a metals analyst at ABN Amro Holding NV in London, said in a telephone interview. Nickel is "immune" to declines of the magnitude metals such as copper and zinc have registered in the past year, he added. 

Tin rose after Indonesia, the world's second-largest producer of the metal, said it may impose a quota on exports to keep prices above $12,000. The proposal would keep the global market from being oversupplied, Mangantar Marpaung, the director for coal and geothermal development at the energy and mineral resources ministry, said in Jakarta today. The nation is trying to curb illegal tin mining. China is the largest producer of the metal. Full article:HERE


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## danc (8 March 2007)

What great posts. Been looking at the week and mth chart for more than a while but didnt know what this co/s back ground was. After seeing the posts this morning and reading in detail I went straight out and bought at market. Look at the buys under the bid in comparison with the sells. One to add to on pull backs.inmopn.


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## mmmmining (8 March 2007)

danc said:
			
		

> What great posts. Been looking at the week and mth chart for more than a while but didnt know what this co/s back ground was. After seeing the posts this morning and reading in detail I went straight out and bought at market. Look at the buys under the bid in comparison with the sells. One to add to on pull backs.inmopn.




Why take you so long? You could have look at it a month ago. Seeing you are so excited, and wish you have verified the facts posted. Nothing suggest anything wrong, but ASF is always the secondary sources of info (except some creative ideas)


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## petervan (16 March 2007)

Up nearly 20% on very positive news.Looking very good


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## exgeo (16 March 2007)

> The total Identified Mineral Resource estimate contains over 2 million tonnes in contained nickel metal and over 150,000 tonnes in contained cobalt. As big as it currently stands, we are yet to realise the full potential of the project area which we believe it still holds potential for the resource to grow significantly larger. In addition, our growing understanding of potential sulphide genesis models and make-up of the large Wingellina layered intrusive complex continues to excite us about the potential for a nickel sulphide discovery, akin to the Nebo and Babel discoveries (WMC now BHP) within a similar geological environment in the nearby West Musgrave Ranges.



 Restart of tin mining at Renison is scheduled for the end of 2007. Currently producing tin from Collingwood, QLD.


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## mmmmining (16 March 2007)

With my limited knowledge in geology, I am fancying about the Wingellina deposit is a great hedging against the rising nickel price because of the Mickel Limonite deposit (High iron, low magnesium). It is reported that such ore can be sold to steel mill at US$18-20. Wingelina has 213.2Mt.

Not saying it is economic to do so, but definitely it is an alternative way to realize the asset value.


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## exgeo (20 March 2007)

*Wingellina Attracts China’s Largest Nickel Producer*


> Metals X’s Managing Director, Peter Cook said “this is a major endorsement of the potential of the Central Musgrave Project which includes the Wingellina Nickel Limonite deposit. It is a significant step forward for both the Company and the State of Western Australia. The Jinchuan Group is a world leader in both the nickel industry and the construction of, and operation of High Pressure Acid Leach plants.” Wingellina today is estimated to be the 16th largest undeveloped Nickel Oxide deposit in the world and preliminary scoping study works suggest that it may progress into a mining operation producing approximately 40,000 tonnes of Nickel in metal hydroxide complexes also containing approximately 2000 tonnes of recoverable Cobalt metal as a co-product. “The future of Metals X looks bright. Our strategic positioning in both the nickel and tin industries has placed us into the two hottest metals in the base metal market. Through Jinchuan, we will have a strategic partner who has both the financial capacity and technical capability to assist us with the process of turning Wingellina into one of the Country’s largest and long life nickel producers.”
> *Nickel Royalty* Metals X also has a strong nickel royalty portfolio which earns annual royalty income as a percentage of totals sales from the Mt Keith mine and Kambalda (East Location 48 only) mines. In the last quarter receipts from these royalties totalled $2.85 million and these royalties are without exposure to capital and operating risk and provide uncapped exposure to higher nickel prices.
> *Tin * In parallel with its Nickel business, Metals X continues to advance its tin assets. Metals X is currently Australia’s largest tin producer from our newly developed Collingwood Tin Project, albeit at a modest 3500-4000 tonnes per annum. In response to stronger tin prices, Metals X has plans to recommence its Renison Project in the current year. The Rentails tailings re-treatment and tin fumer project has achieved its technical objectives and we are planning to commence pilot testing as a final step before completion of a bankable feasibility study. Collectively, these projects can elevate the Company to be a top 10 global producer of tin


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## mmmmining (20 March 2007)

It looks like a bad news for MLX for Chinese invasion. After hitting 38.5c, and then retreated to 35.5c

The placement to Jinchuan is a bit low at 28c, but you can get it at 26c just 2.5 weeks ago.Jinchuan will not selling any of them for a quick profit. They want to hold it so they can have influence on the nickel deposit develop. 

13% interest for $32.76m, MLX will have enough money to speed up the project.

As indicated on the ann, JinChuan is particularly interested in the nickel limonite deposit, and in Australia, and with over US$100b in ground value of nickel, cobalt, and Fe.

Anyway, it is very interesting that$ Jinchaun get 28c options from AGM about  a year ago,  today AGM's SP is 68.5c. This time, it is not option, it is Share, and they paid it outright! How urgent JinChuan is!

Jinchuan like 28, We like 68 (or 69?). A year long is about right to me.


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## exgeo (12 April 2007)

*Wingellina scoping study results*

*Mining-Production* The study considered two scenarios of mine life, the first being 46 years, effectively mining out the Measured and Indicated resources and the second being limited to a 20 year term, mining approximately half the known resource, to produce 36-38Kt Nickel/pa. and 2600-2800t Cobal/pa.


*Financial-Sensitivity Analysis* The Scoping study has been performed at a flat nickel price of US$20,000 per tonne and a flat Cobalt price of US$ 15 per pound. These prices are only 40% of the current spot metal prices but are considered to be more appropriate long-term prices for the metal given the long project life and gestation period of up to 4 years before production could occur. To understand the upside impact, at the current spot price of US$50,000 the NPV (8% nominal) – Pre-Tax is A$21.5 Billion with an IRR of 94.8%. On the downside scenario, a similar estimate of these financial measures at US$15,000 per tonne for Nickel gives an NPV of A$2.6 Billion with an IRR of 22.2%.


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## chicken (13 April 2007)

exgeo said:


> *Wingellina scoping study results*
> 
> *Mining-Production* The study considered two scenarios of mine life, the first being 46 years, effectively mining out the Measured and Indicated resources and the second being limited to a 20 year term, mining approximately half the known resource, to produce 36-38Kt Nickel/pa. and 2600-2800t Cobal/pa.
> 
> ...




I bought in at 34cents....I think the market is just starting to realise the value here.....production will take a while but the potential is dynamic...bought my 1st 100k shares....for the bottom draw...comments


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## wolf (13 April 2007)

Chicken, this one is a winner. I agree with Mmmining that in about a year a share price around 60 - 70 cents is likely, given the company's plans and chinese interests.


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## chicken (17 April 2007)

wolf said:


> Chicken, this one is a winner. I agree with Mmmining that in about a year a share price around 60 - 70 cents is likely, given the company's plans and chinese interests.




Looking in doing better...MLX put on 6c to 42cents yesterday....Tin prices rising and with their Nickel of 2.5 million tons or at say $4ok per ton makes this stock very appealing...$100 billion of Nickel in the ground...go figure?


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## chicken (18 April 2007)

PJ MORGAN....bought 50million shares...wonder why??? maybe they see what I see...DYOR


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## beerbelly (19 April 2007)

Hi Chicken,

I am also a Metals X fan and just purchased in at .42c
How did you find out about the JP Morgan 50mill share buy ? I couldn't see these volumes. Were they purchased outside of the market ?


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## chicken (20 April 2007)

beerbelly said:


> Hi Chicken,
> 
> I am also a Metals X fan and just purchased in at .42c
> How did you find out about the JP Morgan 50mill share buy ? I couldn't see these volumes. Were they purchased outside of the market ?



This news was published 3 days ago on the ASX.....read it....


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## ta2693 (3 June 2007)

What make the mlx fall back to 34c range? Who was the seller in the market recently? Are you still holding MLX, chicken?


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## ta2693 (7 June 2007)

Is anyone here know who are selling and why they are selling MLX? I feel it is very strange for a share like this fall around 25%  

It is backed up by JP morgan and Chinese investor.
It has large resource underground. 
It has Ni and AL which is very hot commodity this year.
It is current producer of AL, the profit of this year could be astonishing. 

I just do not get why ppl sell it. 
I think the answer could be one or several of the following, not sure which one is the main reason.
1 better opportunity of other investment in the market 
2 profit taking
3 market manipulating by JP morgan and they actually want more
4 some bad news approaching
5 seller is stupid


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## HRL (20 June 2007)

Still a baby... however, there might be something coming up.  No news for a while but the buy depth has been quietly increasing (currently 1.5 times sell vol) and sp pulling up a smidge.


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## Ken (18 July 2007)

ARTICLE in todays finreviews has MLX an aggressive buy below 50 cents.

The author has them as a real bargain at current prices with a target price of 60 cents, but a real chance of doubling in the short term.

Page 32.


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## Ken (18 July 2007)

I have had a crack at drawing a chart.  To me it looks good.  I dont really know much about charting but I have had a crack, because I think i am not far off the mark. I reckon we may have an opportunity to purchase in the high 30's for a short period of time, but I dont think 50 cents is to far away.

I can see MLX setting a new 52 week high, and we know that can spur on an extended run. Who knows?


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## spottygoose (18 July 2007)

Thanks Ken.

Here is the gist of the Financial Review article today:

It is Southern Cross Equities director's top pick among the mid to small cap resource plays. MLX's assests include the Wingellina Prospect (N.T) & royalties payable by BHP from Kamgalda & Mount Keith (W.A) nickel fields. It also owns the Collingwood Tin project (Qld) & Renison Tin project (Tas).

According to AFR Aitken is extremely bullish on the SP prospects saying it looks cheap. He says the SP should double over the short to medium term & recommends "buying it aggressively under 50c".

Key to his strong outlook is the potential for Wingellina to drive MLX's longer-term eearnings & valuation, while the restart of the Renison Tin project is expected to have a significant impact on earnings.

Current SP is .425.


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## mick2006 (19 July 2007)

Hey guys this one is well worth a look into major tin/nickel play very good institutional/chinese backers and well set to benefit from the surge in Tin prices.  Also receiving large royalty from Kambalda/Bhp nickel operations already over $10.5 million this financial year and growing.


Really not surprising the strength of MLX today given the huge run up in Tin last night up $589 or 4.1%, with supply issues globally, MLX is very well placed to benefit from the rise in prices due to their current operations and by next year will be in the top 5 Tin producers worldwide.

With available shares drying up media starting to take a liking to the company, will not be surprised if it breaks the 50c barrier very shortly.


Good presentation with link below.

http://metalsx.com.au/investors/presentations/20070515Presentation.html


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## Pat (19 July 2007)

mick2006 said:


> Hey guys this one is well worth a look into major tin/nickel play very good institutional/chinese backers and well set to benefit from the surge in Tin prices.  Also receiving large royalty from Kambalda/Bhp nickel operations already over $10.5 million this financial year and growing.
> 
> 
> Really not surprising the strength of MLX today given the huge run up in Tin last night up $589 or 4.1%, with supply issues globally, MLX is very well placed to benefit from the rise in prices due to their current operations and by next year will be in the top 5 Tin producers worldwide.
> ...




Agree Mick, I like the look of MLX too. May of missed a good buying op in the low 30's though. Seems to of found some strength in the depth.


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## Sean K (19 July 2007)

Potential breakout here and with general momentum and trending up, will have to happen some time sooner or later. Maybe most resistance at 44 cents, and a bit at all time intraday high at 45, so not much further to go. Should be pretty good support around 40 ish, possibly more at 37.5 ish worst case, which isn't too much downside.


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## mick2006 (19 July 2007)

Thanks to both Ken and Kennas on the charts and the info, I have been watching MLX for a while and jumped aboard with a large stake yesterday.
Will post more indepth research over the weekend, but the main things that attracted me to the stock were.

1. The royalty received on the Kambalda/BHP nickel operations which is around $15 million per year with more deposits still to come online.

2. The fact they will be Australia's largest independent Tin producer with 1 operation already and 2 to come online shortly. Which will put them in the worlds top 6 producers.

3. They also control the worlds 16th largest undeveloped Nickel deposit which has attracted significant funds from China's largest Nickel producer and several large institutional investors. (with the Jinchuan Group aboard it is only a matter of time before the project is given the green light) 

4. It is approaching the resistance at the 44c level with a massive increase in volume and if this was to break could quickly go on a bit of a run.(chart view kindly provided by Kennas)


Would be interested to hear peoples thoughts on the long term outlook for MLX


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## mick2006 (19 July 2007)

interesting article I found on basemetals.com today pretty well sums up why TIN and inturn MLX has further upside from these levels.

Noticed it just hit 44.5c if we see some more buying this afternoon there is a real chance for a technical breakout on top of the fundamentals that are at play.



DJ BASE METALS: LME Tin Jumps On Technical Breakout 
Wed, Jul 18 2007, 17:25 GMT
http://www.osterdowjones.com/ 

London Metal Exchange tin blitzed the rest of the complexWednesday as funds leaped at a technical play that market participants seedriving it higher. 

LME tin jumped almost 5% Wednesday, to end just shy of $15,000/ton, short ofits $15,100/ton April high. 

The metal has been traded around $14,000/ton since mid-May, traders said,which added fuel to the breakout, as buy stops were triggered at key technicallevels all the way up. 

*Already, analysts have warned of a "new nickel or lead" in the making, withtechnical indicators for the metal pointing as high as $16,000/ton, said UBSanalyst Robin Bhar*. 

Like the lead and nickel markets, the tin market is relatively small, withsupply side stresses, and dominated by one or two "very, very large funds,"analysts said. 

In the coming days, LME tin is set to challenge$15,100/ton hit in April when Indonesian supply problems kicked in, market players said. 

Indonesian authorities cracked down on dozens of small smelters last October,forcing them to close up shop due to environmental and tax code breaches,although some larger smelters have gradually come back on line. 

Mostly due to these problems, reported tin production from January to May was down 2,900 tons on the year, the World Bureau of Metal Statistics said Wednesday.


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## mick2006 (19 July 2007)

well guys with the current focus on the LME on Lead/Tin prices what better time to have a closer look at MLX, Australia's largest Tin producer and as of 2008 the worlds 6th largest Tin producer.

Also they control the enormous Wingellina Nickel Deposit which is larger and higher grade than BHP's Ravensthorpe Nickel Project.


*Now a closer looks at MLX*

Shares                                  915,335,378
Options 20c                           110,495,600

Current undiluted market cap    $402 million


*Reason to buy into the MLX story*

*-Current Nickel royalty from Mt Keith/Kambalda $16-20 million per year(at no cost to MLX)*
-Currently producing Tin from Collingwood Project (exposure to rising tin prices)
-Production at Renison/Mt Bischoff Tin Projects late 2007
-Feasability Study underway Rentails Tin Project production early 2009
-Strong Cash Position
-Strong Institutional Support
-Top 6 Shareholder control 50% of company
*-Massive upside through Wingellina Nickel Deposit (value aud $100 billion)*
*-Projected EBITDA 2008 $100 million or PE 4.4*


*A closer look at MLX Projects*

*Collingwood Tin*

The Collingwood mineralisation is greisen style within granites. The mineralisation occurs as a series of close spaced sub parallel siliceous-sheeted greisen lodes that trend north-south and dip steeply east. Tin occurs within the lodes as granular, sub-spherical grains of cassiterite between 0.5mm and 2mm in diameter. Reserves estimates as of 30 June 2006 total 953,900 tonnes at 1.19% Sn with a larger resource base of 1,280,900t at 1.27% Sn.

*Yearly Production 3500 tonnes Tin
Projected Earnings of $15-20 million per year (with upside due to tin price)*


*Renison/Mt Bischoff Tin*

Renison Resources       6.61 MT @ 1.6% SN
Mt Bischoff Resources  1.90 MT @ 0.96% SN 

It is MLX intention to restart the Renison Tin Concentrator and treat ore from both deposits from late 2007

*Yearly Production  8500 tonnes Tin
Projected Earnings of  $60 million per year (with upside due to tin price)*


*Rentails Project*

The Rentails Project is based on the re-treatment of historic tailings from over 40 years of mining at the Renison Bell Mine. Metals X is completing a feasibility study into the extraction of tin using a combination of ultrafine gravity and floatation techniques to produce a low grade concentrate for fuming and generation of a higher grade and sale-able tin concentrate.


Rentails Tin Project - 17.9 MT @ 0.42% Sn

Due to commence production in 2009 at a rate of 6000 tonnes of tin per year



*Wingellina Nickel*

The monster project of MLX at an inground resource of over $100 billion it is no wonder that the Jinchuan Group of China (China's largest Nickel Producer) has taken a 13% stake in the company, and has first rights for any offtake agreement)

*With a current resource of 213 mt @0.95% nickel and 0.074% Cobalt*

A recent scoping study found that at commodity prices

$20,000 tonnes nickel
$15lb cobalt

*Wingellina would have a NPV (8%) of $5.3 billion or $5.30 per share

And a yearly profit of around $330 million which is almost equal to MLX current market cap.*

http://metalsx.com.au/pdf/1176344469.pdf


*Current Nickel Royalty*

Metals X has significant assets in the form of production royalty streams, payable by Australia's premier nickel producer BHP Billiton and sourced from two of the world's largest and most productive nickel fields being Kambalda and Mount Keith. In addition Metals X owns royalties over significant land positions in the Mt Keith district and covering large tracts of highly prospective nickel tenements (Kingston Royalty).




With the increase in volume over the last couple of weeks, I have no doubt that we have started to see a major re-rating of the stock, which is being driven by institutional buying and an increased focus due to the increased price of Tin (remember MLX is Australia's largest Tin producer), also the massive value of the Wingellina Nickel Deposit (bigger than BHP's Ravensthorpe)


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## mick2006 (19 July 2007)

looks like the price of Tin is surging again overnight, smashing through the previous record high.  Could be a really huge day for MLX tomorrow.

*Shanghai copper rises 2.3 pct, tin soars*
Thu 19 Jul 2007, 6:49 GMT

[-] Text [+] By Richard Dobson

TAIPEI (Reuters) - Shanghai copper rose more than 2 percent on Thursday, buoyed by demand for physical material and industrial action at key mines in Latin America amid an already tight market and strong Chinese economic growth data.

*Three-month tin on the London Metal Exchange hit an all-time high of $15,530 on the electronic Select trading system, extending gains the previous day as supply shortfalls spurred fund buying.*
 On the Shanghai Futures Exchange, the most active September copper futures contract rose 1,470 yuan or 2.3 percent to 65,940 yuan a tonne.

"London prices rose a little from yesterday, while it seems there is some demand for material in the spot market," said a Shanghai-based trader.

"But demand from consumers is not strong around these price levels. If London rises much further, Shanghai probably won't follow."

Shanghai spot copper prices ranged between 64,550 yuan and 64,800 yuan, up 900 yuan from the previous day, indicating increasing demand for physical material.

Copper for delivery in three months on the London Metal Exchange was at $7,835, rising from $7,825 at the close on Wednesday, when it gained $60.

Copper prices remain supported by continuing industrial action in key suppliers Chile and Peru, compounding an already tight market.

The World Bureau of Metal Statistics research group said on Wednesday that the global copper market was in deficit by 144,000 tonnes between January and May this year, reflecting lower supplies.

This compared with a revised surplus of 182,000 tonnes for the whole of 2006, the British-based analyst said in a monthly report.

According to the International Copper Study Group, world refined copper consumption outpaced production by 267,000 tonnes in the first four months of the year, compared with a surplus of 35,000 tonnes in the year-ago period.

LME stocks reversed a moderate two-day rise, falling 775 tonnes to 98,625 tonnes on Wednesday.

On the industrial action front, workers at Southern Copper's Peruvian operations may go on strike again after unions failed to reach an agreement over demands for better salaries, a union leader said on Wednesday.

Chilean copper giant Codelco said all operations at its Salvador division remained on hold on Wednesday due to a strike by workers who have surrounded the plant and are refusing to let people enter.

CHINA GROWTH

Also boosting sentiment was the announcement by China, the world's largest copper consumer, that annual GDP growth surged to 11.9 percent in the second quarter from 11.1 percent in the first three months, beating forecasts.

The data kept China's economy firmly on course for the fifth straight year of double-digit expansion, while consumer prices rose 4.4 percent in the 12 months to June, also exceeding forecasts and reinforcing expectations of further monetary tightening.

"Some investors are worried that the central government will release more measures to cool the economy," said analyst Pang Ying at a trading house Shenzhen Rongtop.

Beijing in recent years has implemented a series of measures to stem growth in overheated and energy-intensive sectors such as copper smelting.

*In other metals, tin added over 3 percent to trade at $15,400 by 0701 GMT, fuelled by concerns about a shortfall in output from Indonesia, which accounts for one-third of the world's tin output.*

In other metals, nickel added almost 2 percent to trade at $33,400, while lead was steady at $3,235 after hitting a new record of $3,260 a tonne on Wednesday on news of an explosion at a U.S. refinery last week


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## Pat (19 July 2007)

Thanks mick for you research. I've held off buying MLX for a while now, was very tempted to at 35 cents . If it breaks 44 cents and the resistance dissapears, i'll take the plunge. Hope i'm not too late.


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## mick2006 (19 July 2007)

hi Pat, according to the Southern Cross Equities team there is plenty of upside left, they have rated it their most outstanding buy, with plenty of upside left.

It gets better everytime I check kitcometals.com or basemetals.com there is another article about how tin is surging to record highs.

*It is just a matter of time before investors put two and two together and realise MLX is the best Tin leveraged stock on the ASX.*


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## Pat (19 July 2007)

mick2006 said:


> hi Pat, according to the Southern Cross Equities team there is plenty of upside left, they have rated it their most outstanding buy, with plenty of upside left.
> 
> It gets better everytime I check kitcometals.com or basemetals.com there is another article about how tin is surging to record highs.
> 
> *It is just a matter of time before investors put two and two together and realise MLX is the best Tin leveraged stock on the ASX.*



I just feel that i've missed out on 20%, I've had MLX on my watchlist for some time and new it was a buy at 35 cents. Hindsight for you. 
There's so much resistance on depth i'll wait for a better opportunity.


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## Ken (19 July 2007)

I think investors have put 2 and 2 together.

MLX is flying. I reckon 46 cents is highly likely but with the article tonight about tin prices soaring it could really run.

Will wait and see what happens. Could be a very good Friday, lets hope the US market goes well.


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## mick2006 (20 July 2007)

With supply worries and increased demand, the price of Tin again surged overnight on the LME to record highs. With some analysts now talking about a price around $17000 usd a tonne.

With MLX Australia's Number 1 Tin producer and the Worlds 6th largest it is the best leverage on the ASX to rising Tin prices.

With a sustained increase in buying volume over the last couple of weeks and a reduction of the number of shares available on the sell side it looks like MLX will continue its march higher with the 50c mark looking very likely in the very near future.

With all the added media exposure about the rise in Tin prices it won't take long before investors start to jump aboard the MLX story.

With buyers lining up now 2.65 million above the 40c mark compared to just 1.2 million on the entire sell side, putting upward pressure on the shareprice as investors scramble to get in.


*Metals - Tin surges to new record high as supply worries fuel spec buying*


LONDON (Thomson Financial) - Tin surged to a fresh record high as ongoing supply worries in key producer Indonesia and a break of key technical levels fuelled buying amongst speculative traders.

At 9.42 am, LME tin for three-month delivery was trading up at 15,675 usd a tonne against 14,950 usd at the close yesterday. Earlier, tin rose to 15,700 usd, its highest point since the new contract started trading in 1989.

'I think tin is mainly being driven by investment demand and technical factors... having broken above 15,100 usd that's given it upside. I don't think anything has changed in the market ... production from Indonesia is much lower and that's the main thing,' said Peter Kettle of the Tin Council.

Indonesia, the world's second largest producer after China, has been engaged in a crackdown on illegal tin mining and smelting that has crimped output in the country for much of this year.

Elsewhere, lead surged to another all time record high of 3,310 usd a tonne, before dipping slightly to 3,300 usd against 3,231 usd at the close yesterday.

The heavy metal has rocketed to a series of record highs in recent months as supplies from Australia remain restricted and lead exports from China continue to fall.

These worries have been exacerbated this week by news that an explosion at Doe Run's Herculaneum refinery in Missouri last Friday will see modest disruptions to supply of lead and lead alloys.

Copper was up at 7,855 usd a tonne against 7,825 usd at the close yesterday, as traders took the view strong Chinese economic growth will fuel demand at a time when supply remains crimped by labour unrest in the Americas.

In other metals traded, ali was up at 2,810 usd a tonne against 2,787 usd at the close yesterday, nickel was up at 33,550 usd a tonne against 32,700 usd, while zinc was up at 3,565 usd a tonne against 3,505 usd


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## UPKA (20 July 2007)

Hi Mick, personally I think the rise in Tin price is only temporary, mainly because of the shut down of illegal mines in Indonesia. The authority in the country is cracking down on it, bt I see these mines running again in a few weeks, either with the government taking over the mines, or the dodgy mine operators paying their way out or some sort. many of the surrounding villages there depending on the mines as their only source of income, so i cant see the government shutting them down for too long. 

As for tin, I have read it somewhere saying its the metal of the 21st century, mixed with alloy its light weight n strong, and there will be strong demand for it in coming yrs, i'll try to find the article again... 

and looking at MLX, it is certainly overlooked, with all the hypes on Iron ore, not many investors looked at Tin producers. look at YTC its backed by one of China's largest tin producers, with no drill results out yet and very lil project and is already valued at $50-60m. MLX has the backing of JinChuan Group, and is already earning royalties abt $10m a yr, and various LARGE projects coming online, its $450m mkt cap is definately undervalued. I still need to put some figures together, will probably do so this weekend. bt as Aust biggest tin producer, with the rising tin price, I can see this one also becoming a take over target in the near future.

PS i DONT hold MLX


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## Lounge Lizard (20 July 2007)

Hi folks, 
I'm pretty new to posting on this forum.  I have been looking at MLX and have purchased shares @43c.  The report from SCE basically says that most of the illegal miners are restricted to the tailings left by the alluvial mining of PT Koba and PT Tima.  Koba and Tima are now mostly mining offshore as the alluvial land deposits are depleted.  It is thought that the tailings are pretty much depleted also and that any new mining on land will require a hard rock approach ( at least 5 years away). 
cheers


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## mick2006 (20 July 2007)

thanks for the input guys, good to have some discussion on MLX, it seems with the supply problems in Indonesia and Bolivia it has got some investors worried about the long term supplies thus driving prices much higher.

The Southern Cross Equities report highlighted the point that the increase in production coming from MLX is much needed by the market as it is one of the only near term production increases.

As for trading today it is looking very positive with a likely open of 45c, this is the last major resistance going forward if this was to break it may quickly run to higher levels.

Also good to see the the buy side is filling nicely all the way down to the 34.5c level.

If we get another 5 million plus day volume it will be very interesting to see where the SP ends up because there seems to be a distinct drop off in the sell volume at present compared to the last couple of weeks.

*It is interesting to note that the top 6 shareholders account for 50% of available shares.  Have requested top 20 will post when received.  It could turn out to be the case that the top 20 hold more than 70% of the company, meaning the available number shares available isn't that huge.*


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## UPKA (20 July 2007)

good opening today, got myself a small parcel of the options, which expires in dec 08, excellent value compared to the heads.


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## Lachlan6 (20 July 2007)

What brought my attention to (MLX) was the fundamental story. Again some great post's regarding this and much appreciated. The fundamentals it seems cannot be ignored for this stock and the supportive chart says to me all lights are green at this stage. Looks like it will break into new highs today and from here I am projecting an initial target of 59c. Great support with the OBV steadily trending up meaning insto's are well and truly on board, fundamental to any long term price rise. I will jump on board today if it can stay above 46c.


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## spottygoose (30 July 2007)

*Unfashionable metals back in vogue *
Trevor Hoey, July 30 2007

Excerpt:
_
Humble tin makes a charge _

Metals X is also worth looking at. It is another company that is involved in the production of a less fashionable resource. Tin might not have the allure of uranium or nickel, but for Metal X it represents a very profitable resource in a supply constrained market where sharp increases in the price of the commodity appear to have gone unnoticed. 

Since June 2006 the price of tin has nearly doubled, increasing from less than $US8000 per tonne to about $US15 500 per tonne. In the last month the price of tin has risen by more than 10 per cent, outpacing the more closely followed base metals such as nickel, copper and zinc. In fact as huge declines in overseas markets haunted investors on Friday, tin was the only bright spot. While nickel, copper, zinc, lead, aluminium, gold and silver all suffered declines, tin gained another 1.5 per cent. 

_P/E belies Metal X’s growth profile _

Though Metals X’s share price has increased significantly in the last 6 months, it could be argued that the company remains undervalued. Metal X is forecast to deliver a net profit of $21.6 million in 2007-08, increasing by nearly 200 per cent to $63.9 million in 2008-09. This represents earnings per share of 6.1 cents, indicating that Metal X’s 2008-09 forecasts reflect a P/E ratio of 7.

These forecasts were released in June, and while it is from the most recent independent research available it was compiled prior to the recent spike in the price of tin. Furthermore, the forecasts are calculated using a long term tin price that is about 30 per cent below the current spot price. 

_Long-term earnings outlook_ 

Metal X’s Renison and Mt Bischoff mines have a resource of about 6.6 million tonnes, but analysts believe that further underground mining at Renison could result in resource upgrades and potentially extend the company’s production capacity well beyond the eight years that is currently estimated. 

In this regard it should be noted that Renison is the largest hard rock tin mine in the world, and based on current production estimates for 2009 Metal X is ranked the sixth largest tin producer in the world. Metal X also owns the Collingwood tin mine in North Queensland that has a smaller resource and a mine life of three to five years. 

_Nickel assets offer diversification _

Metal X’s other assets include interests in nickel operations at Mt Keith, Kambalda and Kingston. These assets produce revenue in the form of royalties – related earnings are expected to be in the vicinity of $8 million for the six months to June 2007. But in terms of Metal X’s nickel interests, its Wingellina resource that has 2 million tonnes of contained nickel is where the blue sky lies. 

In May 2007 China’s largest nickel producer, Jinchuan Group made an investment of nearly $33 million in Metal X, making it the largest shareholder with a stake of about 13 per cent. The funds will be used to assist in progressing the Wingellina project and Jinchuan has the right to negotiate an offtake arrangement. Analysts estimate that the Wingellina resource could support a strong level of production over a period of 25 years.


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## UPKA (30 July 2007)

hey spottygoose, where was this article found? MLX has been a bit of consolidation stage of late, may be a bit of publicity in the financial reviews will do it good!


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## spottygoose (31 July 2007)

It was from a newsletter I subscibe to called "CompareShares". 

http://www.compareshares.com.au/

There was a bit about MLX in the AFR a couple of weeks back re it being Southern Cross Equities director's top pick among the mid to small cap resource plays. According to AFR he was extremely bullish on the SP prospects saying it looks cheap. He says the SP should double over the short to medium term & recommends "buying it aggressively under 50c".

Key to his strong outlook is the potential for Wingellina to drive MLX's longer-term earnings & valuation, while the restart of the Renison Tin project is expected to have a significant impact on earnings.

Cheers.


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## rico01 (20 September 2007)

No announcement but MLX is up like a rocket today with huge volume.


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## michael_selway (20 September 2007)

rico01 said:


> No announcement but MLX is up like a rocket today with huge volume.




Any ideas why?

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 -- 
EPS -6.7 -0.8 2.4 0.0 
DPS 0.0 0.0 0.0 0.0 *

thx

MS


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## imaginator (19 October 2007)

What's up with MLX? 

I think good news? 

ANyone buying?

...............................................................................................................................................................................................................


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## spottygoose (19 October 2007)

JP Morgan just upped their stake at 43c - notice received this morning. Then there is the approval to re-open the mine at Renison.


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## saichuen (19 October 2007)

imaginator said:


> What's up with MLX?
> 
> I think good news?
> 
> ...




Did you mean JPMorgan Chase adding to its substantial holding? I would imagine that to be an encouraging news indeed. 

Happy trading!


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## ta2693 (14 January 2008)

I can not believe MLX's price is only 30.5c now.

The demand of tin is solid. The production is for sure. I can not see any reason why ppl so worried about MLX in? 

I topped up today and I think I have done a right thing. If any mate here know why MLX should fall below 30c, please make some  of your comments.


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## Real1ty (14 January 2008)

ta2693 said:


> I can not believe MLX's price is only 30.5c now.
> 
> The demand of tin is solid. The production is for sure. I can not see any reason why ppl so worried about MLX in?
> 
> I topped up today and I think I have done a right thing. If any mate here know why MLX should fall below 30c, please make some  of your comments.




There are 2 reasons i could think of.

1: They have just announced a capital raising, with shares placed at .30
2: We are in very volitile times with a lot of uncertainty atm, with markets going through a big correction, and the resources sector hasn't been spared.


I don't hold atm and won't be buying in unless the economic outlook somehow does a massive about turn, but i recently researched this company and like the look of it.
The Tassie restart, Renison, is good move and with the removal of Copper now, will see a very good price achieved.
Copper is virtually for free now while achieving a higher Tin price as their will be no more smelter penalties.


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## Aargh! (26 February 2008)

ANN just out. Metals X move into Phosphate. On fire and up 21%! 

http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=MLX

Was just about to sell this morning as well!


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## Aargh! (27 February 2008)

_See ANN for full details.... Aargh_
*Metals X – Tin Strategy Update*

*Highlights*

• World Tin prices hit all time highs on LME, reaching a high of US$17,870/
tonne.
• Renison re-start underway and on track with tin concentrate production
anticipated to commence this June.
• Open Pit Mining has commenced at Mt Bischoff.
• Renison expected to produce approximately 8500tpa tin metal and 1500tpa
of copper co-product at an operating cost of approximately A$8000/t.
• Rentails pilot fuming tests underway and feasibility targeted to be
completed late in 2008.
• Rentails expected to produce 5,500 tpa of Sn and 1500 tpa of copper in
matte for 9 years at an estimated operating cost of A$7000/t.
• Metals X advises planned closure of Collingwood tin mine with tin
production focus moving to its Tasmanian Tin Strategy.
• Metals X has sold its Gillian exploration project in Far North Queensland for
A$250,000 in cash and a 1.5% NSR royalty.
• Metals X carries no corporate debt and has available working capital in
excess of A$60m for its project developments.

*World Tin Market Dynamics and Pricing*

World tin prices have revived strongly in recent years, as a result of improved demand and supply
uncertainties.

Price reaction has been strongly positive and it is considered that the strong consumption demand driven
mainly by Chinese industrial growth and, environmental pressure to substitute toxic metals in order to improve
recycling rates. Consumption demand for tin is expected to be strong for many years into the future.
Supply-side reaction to higher prices has been typically elastic with initial oversupply and more recently a
waning in production as is typical of a market where almost a half of world production comes from nonconventional
production and cottage industry. This sector is struggling to expand at rates required to meet
consumption demand and the longer-term picture is supply shortage unless significant production increases
can be achieved.

The latest spot tin price close on the LME was US$17,870/tonne (~A$19,280/t) having reached its highest
level since the heady days of the International Tin Cartel in the late 1970s.

Tin has achieved an annual growth rate of 4% pa over the past decade and maintains a strongly positive
'intensity of use curve' suggesting continued consumption demand and higher prices.

Metals X dominates the Australian tin sector with the largest tin inventory and the only serious production of
the metal. Metals X has implemented a strategy that will see significant growth in its tin production in the
ensuing years.

Metals X owns the dominant mines in Australia's most prolific tin fields and the only significant infrastructure in
Australia's tin industry at its wholly owned Renison Bell Mine and Tin concentrator.

*Tasmanian Tin Strategy*

Metals X, through its wholly owned subsidiary, Bluestone Mines (Tasmania) Pty Ltd owns the Renison, Mt
Bischoff and Rentails tin projects on the West coast of Tasmania. The Renison and Mt Bischoff mines have
been two of the largest tin producers in Australias tin industry of the past century. In particular, the Renison
Bell mine has a production history spanning almost half a century at annualised production rates ranking it as
one of the largest single tin mines in the world.

The foundation of the Renison Project and the key defining feature of this project in this time of higher
commodity prices is the substantial infrastructure already in place at Renison and the related short-fuse to
commercialisation at a world-ranking scale. Metals X believes this infrastructure has a replacement costs
today of in excess of A$200million and a 2-year time benefit to production.

*Renison Project*

Metals X has previously announced to ASX on 17 October 2007 its intent to re-open the Renison Project as a
Tin and Copper producer

Metals X (formerly Bluestone Tin Ltd) invested over A$50m in capital to revive the Renison Project only to
place it on care & maintenance in October 2005 as tin prices collapsed to under US$6000/t in response to an
explosion in small scale and illegal production in Indonesia. Metals X believes that the threat of supply from
illegal mining has now passed and stronger tin prices are sustainable into the future and this is integral in the
decision to re-start.

Renison is a large old underground mine having produced over 200,000 tonnes of tin metal in its history.
Remaining total Identified Mineral Resource estimates for Renison stand at 4.37 million tonnes at 2.01% Sn
containing 88,075 tonnes of tin metal. The mineralised ore systems at Renison remain open at depth and in
places along strike.

The Renison tin concentrator has a nominal capacity of 700,000tpa. Having operated for over 40 years
continuously, there have been several phases of new technology integrated into the plant, usually as add-ons
and process revisions modified on the run. In the two years that Metals X has held the project on care &
maintenance there has been for the first time, a significant review of the entire metallurgical process and an
opportunity to redefine the flowsheet and improve efficiency and ore recoveries without operational pressures.

Metals X will re-start the project with a flowsheet that maximises the efficiency of the plant and incorporates
additional new technology and advances in process control and ultra-fine gravity concentration technology. In
addition, in recent years, coincident with increasing depth, particularly in the southern part of the mine,
significant copper mineralisation occurs on its own and co-incident with the tin lodes. In response to this, and
with cognisance of significantly higher copper prices which are at an all time high, Metals X will operate a
copper concentrator sub-circuit within the plant to recover a copper concentrate as a co-product.

Metals X intends to re-build the Renison underground mine to its former glory over the next 3 years, the time
period it believes will be required to undertake a level of capital development to develop sufficent ore to
enable the plant to be fed from the underground mine in its own right. In the meantime, the underground ore
will be supplemented with open-pit mining from Mt Bischoff at a rate of approximately 250,000 tonnes per
annum.

Metals X has commenced open-pit mining at Mt Bischoff and will stockpile ores at both Mt Bischoff and
Renison, prior to the re-commissioning of the plant. Underground mining will recommence in early May 2008.
A new fleet of specialist underground equipment, predominantly Atlas Copco has been on order for some time
with the first arrivals having landed in Tasmania over the past few weeks.

Metals X expects to begin re-commissioning of the tin concentrator in mid June 2008.

Metals X has devised a detailed 3 year production plan for its Renison Operation as summarised below: (_see ann, couldn't fig how to attach image_)

*Rentails Project*

The Rentails Project is built around the re-processing to a concentrate of the historic tailings (18.2Mt @ 0.42%
Sn) that are stored at the Renison site. The re-processing will generate a low-grade tin and copper
concentrate (10-15% tin and 10-15% copper) which will be fumed using Ausmelt top lance furnance
technology to produce a high grade tin fume product and a copper matte. The technology is proven and in
wide use in the minerals processing industry.

Expected production is 5,500 tpa of tin metal and 1500 tpa of copper in matte at an estimated cash operating
cost of approximately A$7000/t tin metal (after copper credits). The project has undergone several iterations
over the past few years and the process route and methodologies are now selected and the project has
commenced feasibility with an intent to construct in 2009.

Pilot scale tin fuming works have commenced with Ausmelt Ltd and will culminate in final design of fumer, gas
train and bag house units.

*Far North Queensland Tin Strategy*

Metals X has decided to wind down its Far North Queensland Tin Strategy in favour of a greater commitment
and focus on its Tasmanian operations.

*Collingwood Project*

Metals X commenced the small Collingwood Tin project in late 2005 with a planned 3 year mine life and a
desire to expand project life with extensions to known mineralisation and additional regional tin resource
acquisitions.

The Collingwood mine has encountered many challenges in its production since inception with the tin lodes
showing far greater variability than predicted by pre-development drilling. The greisen lodes although well
developed are erratic in shape and anastimose in dip and strike which makes them difficult to drive and stope.
As a consequence, Metals X has not been able to achieve its predicted grades from the mine. This has been
further exacerbated by issues with overbreak during stoping and productivity issues due to skilled labour
shortages and equipment availability.

Metals X intends to mine out the remainder of its fully developed lodes and expects to cease operations at the
end of the current economic mine life, late in the first half of this year. Metals X will close the operation with
significant remaining tin resources and is yet undecided on whether it will hold the project on care &
maintenance for a future restart or permanently close the operation.


----------



## vince (1 May 2008)

figures projected for 2008/9 fin. year also MLX appears to have many irons in the fire ............................ The revised Renison Tin Concentrator flow-sheet has been upgraded to include new technology and the
flow-sheet customised to the planned blended ore types. In addition a copper circuit has been added to
enable the generation of a copper co-product.
The Renison Project is expected to produce approximately 8,500 tonnes of tin and 1,200 tonnes of copper
metal in the 2008-2009 financial year at a cash operating costs (after copper credits) of A$8,500 per tonne of
tin and is expected to operate near these parameters on a steady state basis going forward. At the current
spot tin price (A$25,000) a margin of A$16,500 above operating costs exists.
The re-commencement of production is on-track to commence with a re-commissioning phase in mid-June
and a build up to full capacity in the first quarter of the 2008-2009 financial year. Further it comes with a
backdrop of unprecedented tin consumption growth and supply-side uncertainty that has seen the
benchmark LME spot cash tin price recently reached a peak of US$24,600 per tonne (approx. A$26,000).
Spot Tin prices have now averaged above US$17,000/t (A$19,600) for the last six months compared to a low
of US$5850/t when Renison was placed on care & maintenance in October 2005.----------------------------------------------------------------------------------------TIN which has been the market darling for many weeks due to supply concerns born
from Indonesia, lost $598 to rest at $23,300/t. Still, the price remained firm underpinned by
an illiquid market and tight supply. Tin stocks dropped a further 20 mt Wednesday to settle at 7805 mt.


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## mfunksta (9 May 2008)

*Tin Prices Will Go Thru The Roof...*

Since the previous post, Tin stockpiles are down to 7585.  This trend shows no sign of abating in the near future.  It also tested the all time high overnight.
This could just be the tip of the iceberg for tin prices...  Talk about good timing for MLX...


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## mfunksta (9 May 2008)

*Barclays see tin at 27000 in 1 month*

The headline says it all. 
At these prices, MLX would see $200m pa from Renison, and $350m pa from rentails.  Market cap is only about $450m .$78m in the bank 
Do the maths.  Anyone got access to the full report?


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## mfunksta (14 May 2008)

Ha, I'm settled.  Just surprised that there are so few ppl on this forum with an interest in a company with possibly one of the best profit making potential on the entire ASX in the next few years...


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## alwaysactive (21 May 2008)

mfunksta said:


> Ha, I'm settled.  Just surprised that there are so few ppl on this forum with an interest in a company with possibly one of the best profit making potential on the entire ASX in the next few years...



Hi mfunksta,
Hi. My first post here. 
Yes I've been loading up on MLX for over 12 months now.
They look like doing well given the current and forecast price of humble old tin.
Cheers.


----------



## alwaysactive (22 May 2008)

mfunksta said:


> Ha, I'm settled.  Just surprised that there are so few ppl on this forum with an interest in a company with possibly one of the best profit making potential on the entire ASX in the next few years...




Some news out today on Renison -

''Our aim when we bring Renison back into production in the next few weeks is to restore Renison’s reputation as one of Australia’s great mines, 
not only from a production sense, but as a benchmark for mining, geological and technical standards.''

Peter Cook
Managing Director
Metals X Limited


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## mfunksta (23 May 2008)

But at the end of the day, it's production that boosts the shareprice...  They are using some interesting techniques to get the most out of it...


----------



## mfunksta (23 May 2008)

Fortis Report from Basemetals.com
News

• May 8th: Indonesia’s refined tin exports bounced back in the first four months of 2008 to more than 33,800t, against more than 16,500t in the same period of 2007, according to the country’s trade ministry.
• Apr 24th: Russia’s ministry of economic development and trade is considering removing a 5% import tariff on tin to facilitate greater production of tinplate.
• Apr 14th: Miners at Bolivia’s Huanuni tin mine returned to work after a 12
day strike over pay. 

Analysis
• Fresh record price, more to come
With tin stocks on the LME again very low (now at less than one day’s global consumption at 7,565t by 9th May, against 12,150t at the start of the year), strong Chinese demand and shrinking Chinese exports, political ructions in Bolivia, and a propensity by the Indonesian authorities to confuse the market with regard to their precise intentions for its tin industry, it is little wonder that tin prices are at record levels and are more than 45% up since the beginning of 2008. Chinese demand is certainly growing strongly. Antaike, China’s leading non-ferrous metals research organisation, estimated in April that the country’s refined tin usage would rise by 10.4% year-on-year to 146,000t in 2008 and continue at a similar pace for a few more years to come, driven by two sectors, electronics and tinplating. Antaike also expects that a lack of major new mining projects and increased competition for scrap will mean a tigher supply-demand future. It forecasts a fall in China’s net refined tin exports to 6,000t in 2008, from 10,588t in 2007. In Indonesia the central government plans to issue new regulations for mining by July this year, and early reports suggest that they will place a ceiling on the country’s tin production at 100,000t/year, which would be slightly less than a third of global output. Indonesia’s tin production – which in the past has been dominated by a handful of large, regulated companies, with a rash of smaller unlicensed smelters – could fall well below that figure this year, while its exports, which were almost 119,000t in 2006 (the last year before the state authorities started clamping down on smaller unlicenced smelters), may struggle to get to 100,000t. From July, Indonesian exports of all minerals – not just tin – will have to be verified by government auditors before being loaded onto ships leaving the country.

Outlook
The Antaike forecast for China’s tin exports in 2008 looks rather generous, given that domestic demand is running very strongly and customs data published in April showed China was a net importer of more than 3,600t of refined tin in Q1 2008, with more than a third of that coming from Indonesia. The country’s tin producers have faced a 10% export tax on refined tin since the start of this year and with high domestic prices have little incentive to export. Moreover, China’s tin production in Q1 2008 was 13% lower when compared with Q1 2007, at 31,300t. This is a recipe not just for much higher prices, but for prices to remain high for some time to come. LME 3-month short-term: $22,000/t-$25,000/t.


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## alwaysactive (23 May 2008)

''This is a recipe not just for much higher prices, but for prices to remain high for some time to come. LME 3-month short-term: $22,000/t-$25,000/t.''

I like that bit most of all. MLX up again today on huge volume. 43 mill.
2nd half 08 should be very interesting.
Cheers.


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## ShareDevil (2 June 2009)

wow, obviously no-one just noticed the 14million traded today and a nice little bounce of an 11c floor. Not a bad change from the last 3 months.

Tin's just hit $14,800. All looking promising me thinks, does anyone else rate this stock?

I got in at 0.075 so still happy on this one!


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## Aargh! (3 June 2009)

I haven't looked at MLX for some time. Currently my June stock tipping choice and close to the pointy end. I will get back to researching it again as soon as I have time....


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## McNovice (3 June 2009)

I did jump in on this one last week at .11c as I thought it had potential. Don't know much about Tin, but I do follow Nickel which I believe they explore for  also. Nickel has been at 5 year lows and has been on the rise in the past month, so keeping fingers crossed this will continue and take this share with them.

MRE is a Nickel player which has gone up approx 50% in the past 5 days, hopefully this will follow suit


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## ShareDevil (23 July 2009)

Tassie Tin miner went into Trading Halt today...

I have some MLX so I wait with baited breath...


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## ShareDevil (21 January 2010)

60 odd million trades today, up from open closed on high. 9.6 to 11c

By far the most trades in a single day in the last 3 years. Tin price seems steady as far as my limited knowledge stretches, any clues? Did someone make a tin powered car?


----------



## Idiode (27 January 2010)

And it's still happening today...

Someone knows something for this number of trades to be continuing unabated..


----------



## prakashd3000 (20 February 2012)

MLX stuck at 22 cents. Anyone know whats going on?


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## notting (5 March 2012)

Westgold Resources increased it's holing in MLX from 26.59% to 27.17% which may have been what caused it to wake up and bounce up to .25 with good volume last week. It Slipped back down to .23 today.  
It hasn't been performing even whilst doing a buy back, a few brokers rate it alot higher.
Just thought I'd mention this.


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## prakashd3000 (6 March 2012)

notting said:


> Westgold Resources increased it's holing in MLX from 26.59% to 27.17% which may have been what caused it to wake up and bounce up to .25 with good volume last week. It Slipped back down to .23 today.
> It hasn't been performing even whilst doing a buy back, a few brokers rate it alot higher.
> Just thought I'd mention this.




Thanks for that.


----------



## Aargh! (21 June 2012)

Anyone know why the SP has been punished so much since the WGR-MLX merger announcement?


----------



## piggybank (26 November 2013)

Broke through and closed (18.5c) above a strong resistance level of 17c today on increasing volume.


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## piggybank (5 February 2014)

P&F DAILY UPDATE


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## groundhog (20 April 2014)

Does anyone have any thoughts on how the news that MLX are locked into paying CWE, royalties from the Higginsville Gold Operation?

http://www.carnegiewave.com/files/asx-announcements/2014/140414_Royalty payment ASX announcement.pdf


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## greggles (19 April 2018)

After an ugly few months Metals X appears to have bottomed out at 70c and is rebounding now on good volume after the release of its Quarterly Activities Report on Tuesday. It gapped up today and finished near its high, so the bulls are clearly back in charge.


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## Miner (27 February 2019)

Good morning all
Metal X has surprised the market far and beyond of any one's expectation. With the levelof losses, the price drop however IMO , is so far been very kindly .
Just quitted my holding only on 15th Feb @36 cents and was contemplating to return as a holder but today's report does not give me the warm and comfortable feel now. Its Tin business is doing very well but the copper is the killer. Nifty never made any good money and plant used to have  so many problems, any appropriate level  due diligence by a maintenance engineer,  would have discovered them before Metal X bought it.


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## Miner (12 March 2019)

Good morning MLX enthusiasts
MLX has resolved the power crisis and hopefully, the market will receive the good news of plant start and bad news of the 'disappointing quarter performance; published today.
Nifty mines traditionally have very poor maintenance regime, an unacceptable condition of equipment and questionable maintenance strategies as I learnt from many sources since Birla Nifty era. 
To turnaround that condition by new management requires a good amount of capital investment and ironically shutdown as well. Watch MLX .
https://www.asx.com.au/asxpdf/20190312/pdf/443d6v1xncggsk.pdf


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## Ann (12 March 2019)

Miner, this one may have a bit of a battle on its hands. Looking at the six months daily chart I can see the Twiggs Money Flow Indicator is in very negative territory, it has a falling overhead resistance line, it is under the 21dsma as well as the 200dsma.






Then when I look at the EqiVolume chart I can see a huge amount of selling pressure and a gap it needs to rise above. There are large blocks of selling pressure pretty much all the way up to 50c
Sorry I can't see anything more positive but just calling the charts as I see them.


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## Miner (12 March 2019)

Ann said:


> Miner, this one may have a bit of a battle on its hands. Looking at the six months daily chart I can see the Twiggs Money Flow Indicator is in very negative territory, it has a falling overhead resistance line, it is under the 21dsma as well as the 200dsma.
> 
> View attachment 92832
> 
> ...



Thanks Ann for undertaking the analysis on MLX. So in this instance chart and technical are basically saying the same thing - MLX is having far more worry. It is only 11 AM in Sydney and MLX transaction volume has surpassed yesterday's full transaction volume.
One thing however on your comment - selling pressure all the way upto 50 cents considering today's price is only 28.5 cents.


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## Ann (12 March 2019)

Miner said:


> One thing however on your comment - selling pressure all the way upto 50 cents considering today's price is only 28.5 cents.




Yes, if it begins to rise in price, it has a gap to fill and all the wide areas are big volumes where people may be selling into a rising price to recoup their original investment. I can see selling pressure from its current level upwards to 50c...potentially. If it continues to fall I can see a double bottom  happening at around 18c coming from 2013. Hope that makes sense!


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## greggles (15 April 2019)

It could finally be turnaround time for MLX following the release of their Quarterly Activities Report.

$74.3 million cash in the bank, record production of 2,061 tonnes of tin, EBITDA of $12.9 million and net cash flow of $10.1 million (previous quarter $8.1 million and $5.2 million respectively).

The market had taken a fairly dim view of MLX's future prospects over the last 12 months but today's report may have had an impact on sentiment. The coming days and weeks will determine whether Metals X can break its year long downtrend.

MLX up 17.78% to 26.5c so far today.


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## Miner (15 April 2019)

greggles said:


> It could finally be turnaround time for MLX following the release of their Quarterly Activities Report.
> 
> $74.3 million cash in the bank, record production of 2,061 tonnes of tin, EBITDA of $12.9 million and net cash flow of $10.1 million (previous quarter $8.1 million and $5.2 million respectively).
> 
> ...



Nifty is the key bottleneck. As cost cutting is under active implementation by 30 June MLX  is ready to ripe for a possible take over imo. Copper is hot. Who knows. Speculative thought with an understanding the technical strengths. Disclosure I am a holder so DYOR.


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## Miner (15 April 2019)

greggles said:


> After an ugly few months Metals X appears to have bottomed out at 70c and is rebounding now on good volume after the release of its Quarterly Activities Report on Tuesday. It gapped up today and finished near its high, so the bulls are clearly back in charge.
> 
> View attachment 87036



Ironically MLX repeating the story after one year again . Is it a cyclic ?/


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## aus_trader (16 April 2019)

Miner said:


> Nifty mines traditionally have very poor maintenance regime, an unacceptable condition of equipment and questionable maintenance strategies as I learnt from many sources since Birla Nifty era.
> To turnaround that condition by new management requires a good amount of capital investment and ironically shutdown as well. Watch MLX



Thanks for this info Miner, I've been keeping an eye on this stock too, it's been stock I've held in the past and one that I have liked within the plethora of mining stocks.

I guess they must have miscalculated when buying Nifty. But since Tin business is profitable (It's been profitable for decades as I have been following the stock), could they just admit to the mistake and get rid of Nifty by any chance or do they have too much pride to admit ?

If the company just had the profitable Tin business and the 74m cash on hand I'll buy it back straight away given it won't be draining it's cash on Nifty Quarter after Quarter.

Am I simplifying this too much (I like simplicity, I don't like headaches), your thoughts would be appreciated, Miner.


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## Miner (16 April 2019)

aus_trader said:


> Thanks for this info Miner, I've been keeping an eye on this stock too, it's been stock I've held in the past and one that I have liked within the plethora of mining stocks.
> 
> 
> I guess they must have miscalculated when buying Nifty. But since Tin business is profitable (It's been profitable for decades as I have been following the stock), could they just admit to the mistake and get rid of Nifty by any chance or do they have too much pride to admit ?
> ...



@aus_trader  ! Market will probably adjust yesterday's gain too. Gave good opportunities for traders as well as some hope and  relief for long term . holders. However demonstrated sustainability for the copper plant is the key challenge. With plant condition they need massive cash injection on plant replacement. Otherwise do incremental changes, get market excited and with rising copper some one bails them out by buying Nifty. I will watch today and tomorrow. 
You were right on apparent cheap buy of Nifty without analyzing the asset conditions. Excellent ore body with poor plant availability does not equate to good return.
I have to dig more now my faith is returning too.


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## aus_trader (16 April 2019)

Miner said:


> @aus_trader  ! Market will probably adjust yesterday's gain too. Gave good opportunities for traders as well as some hope and  relief for long term . holders. However demonstrated sustainability for the copper plant is the key challenge. With plant condition they need massive cash injection on plant replacement. Otherwise do incremental changes, get market excited and with rising copper some one bails them out by buying Nifty. I will watch today and tomorrow.
> You were right on apparent cheap buy of Nifty without analyzing the asset conditions. Excellent ore body with poor plant availability does not equate to good return.
> I have to dig more now my faith is returning too.



Thanks Miner, your hands on mining background is good to have when looking deeper into mining stocks.

I will certainly be watching MLX, as I have been for years. Any concrete evidence of Nifty turnaround would prompt me to get back into the stock. Interesting to note the price is staying strong today after yesterday's spike...


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## Miner (1 May 2019)

Good morning all
Hopefully, this reset plan will be well received in the short and long term.
https://www.asx.com.au/asxpdf/20190501/pdf/444qx3wp4sklg0.pdf


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## Miner (1 May 2019)

Miner said:


> Good morning all
> Hopefully, this reset plan will be well received in the short and long term.
> https://www.asx.com.au/asxpdf/20190501/pdf/444qx3wp4sklg0.pdf



Hmm!
Market did not like the reset plan today.  Interesting however


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## aus_trader (1 May 2019)

Miner said:


> Hmm!
> Market did not like the reset plan today.  Interesting however



Some of the brokers reckon this stock is undervalued but then again it's the overall market participants that drive the stock price...


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## Miner (1 May 2019)

aus_trader said:


> Some of the brokers reckon this stock is undervalued but then again it's the overall market participants that drive the stock price...
> View attachment 94250



Thanks
Stock Analysis also recommends it strongly. Thanks mate


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## Ann (27 May 2019)

I can see a floor for this at .17c it is still traveling under the falling overhead resistance line coming from January 2018. This is a 10 year daily chart...






This is the current price of refined tin shown on a five year daily chart, it appears to be traveling in a sideways price range between $18500/$19,000 and $22,000. The Fibonacci shows it sitting above the 38.2% line. I wouldn't like to call either a rise toward 22 or fall toward 18.5/19, it could go either way in the short term as I see it, but I feel it will honour this range for the foreseeable future.


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## Miner (31 July 2019)

The last posting was on this by @Ann on May 27, 2019. So breaking the silence with a posting to support my second choice tip for August .
First of all disclaimer - still holding and looking for an exit. But every time I think the share price trickles up giving me some hope to get water on Miraj.
Some good update excited the SP today otherwise I could have started a lower price 
https://www.asx.com.au/asxpdf/20190731/pdf/447231dskt1yzk.pdf good report for the time being
But this mob just sold out on 29th July- two days before the update posting on ASX - speculatively it could mean the real news is camouflaged with the report or the company who exited is not well trained to sniff market d https://www.asx.com.au/asxpdf/20190729/pdf/446yz7hnjwmmyl.pdf


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## brty (4 August 2019)

I started to watch this a while back when there was a fair bit of director buying but there is no reason to buy yet.
With both tin and copper down heavily I would expect this to make new multi year lows in the coming days.
It almost seems that whatever can go wrong here has gone wrong.


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## Miner (4 August 2019)

brty said:


> I started to watch this a while back when there was a fair bit of director buying but there is no reason to buy yet.
> With both tin and copper down heavily I would expect this to make new multi year lows in the coming days.
> It almost seems that whatever can go wrong here has gone wrong.



@brty  and @greggles 
Are you folks or any one's chart / calculation  is predicting enough is enough for MLX  and the bottom is there ??
I am having a paper loss of 37% so far but don't like the paper loss to become after selling out only to find MLX has trended up ☹


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## brty (4 August 2019)

I have sold at the absolute bottom on quite a few occasions, only to see the stock turn around and go higher.
However on many more occasions I have watched the price go much lower.
I always have an 'uncle' point on my stocks when I enter.

A couple of years ago I sold the exact bottom of the same stock on 3 separate occasions, all within a 6 month period!!!

If something is making multi year lows, that by itself tells you a lot. Management have obviously got things wrong!! Now whether that was buying the nifty mine in the first place or something else, it really doesn't matter.

We could be near the bottom here, or it could go all the way to zero, none of us know, but for my money I would not be long on this yet. Like I said earlier, I've been watching this one for a long signal and it just has not given one. I'd want to see a new swing high before looking for a buy signal, or a short term capitulative bottom for a short term trade.


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## Miner (4 August 2019)

brty said:


> I have sold at the absolute bottom on quite a few occasions, only to see the stock turn around and go higher.
> However on many more occasions I have watched the price go much lower.
> I always have an 'uncle' point on my stocks when I enter.
> 
> ...



Thanks @brty
Good thoughts and perspective.
Yes I can take the credit to have forcefully sold out at the bottomest level of AGO, BRiERTY,  GID HWK. .
So looks like my learning curve is not matching with actions for sure.


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## brty (4 August 2019)

Sometimes nothing will work in your favour on an investment. For example that stock that my stop was hit 3 times on the exact bottom of the move, on another occasion, same stock, I missed the buy by 1 tick. I was the next in the queue when the stock went into a trading halt during the middle of the day. It opened up 50-60% higher on some good news.

The market teaches bad habits that make you break rules if you are not disciplined. The best example being averaging down on something going against you. Most of the time the strategy will work until it doesn't, but by then the investor thinks they are a genius because the strategy worked the previous 10 times they used it, so a person goes in heavily in averaging down on a supposedly 'good' stock. It eventually goes bust and takes the investor out of the game. I've seen this happen too many times.

Back to MLX where it 'looks' like the bottom. Exactly the same thing  could have been said when it was at 40c for a while, and 50c for a while and at 70-90c before that.

I'll probably buy in at some point when a trigger is set and be highly  bullish on it, until a week later when the price goes against me and I quickly sell.
I get a lot wrong in the market but I'm still here playing and making money because I cut those losses quickly but every now and then get a huge winner that I pony up on. I use TA in an unorthodox manner, in that 99% of TA is bunk, 99% of the time, but I've found some of my own stuff that works a goodly percentage of the time, until circumstances change and it doesn't. (I hope that makes sense)


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## Miner (4 August 2019)

brty said:


> Sometimes nothing will work in your favour on an investment. For example that stock that my stop was hit 3 times on the exact bottom of the move, on another occasion, same stock, I missed the buy by 1 tick. I was the next in the queue when the stock went into a trading halt during the middle of the day. It opened up 50-60% higher on some good news.
> 
> The market teaches bad habits that make you break rules if you are not disciplined. The best example being averaging down on something going against you. Most of the time the strategy will work until it doesn't, but by then the investor thinks they are a genius because the strategy worked the previous 10 times they used it, so a person goes in heavily in averaging down on a supposedly 'good' stock. It eventually goes bust and takes the investor out of the game. I've seen this happen too many times.
> 
> ...




Preeti well said


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## aus_trader (6 August 2019)

Hi brty, I have read some of your posts on ASF in many threads and from what I can gather, you are an experienced campaigner when it comes to share investing/trading. I have also had an utter frustration with the Gold miners Gold Road Resources Ltd (GOR) and Silver Lake Resources Limited (SLR). After kicking me out on several attempts they just took off without me. Look at them now ! I am envious, but thank god at least one Gold miner Perseus Mining Limited (PRU) latched on and still holding.

With regards to what you said:



brty said:


> I'd want to see a new swing high before looking for a buy signal, or a short term capitulative bottom for a short term trade.




I understood most of what you said such as waiting for a 'new swing high', but could you go into detail about "short term capitulative bottom for a short term trade" ? What do you look for ?


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## brty (18 August 2019)

aus_trader said:


> Hi brty, I have read some of your posts on ASF in many threads and from what I can gather, you are an experienced campaigner when it comes to share investing/trading. I have also had an utter frustration with the Gold miners Gold Road Resources Ltd (GOR) and Silver Lake Resources Limited (SLR). After kicking me out on several attempts they just took off without me. Look at them now ! I am envious, but thank god at least one Gold miner Perseus Mining Limited (PRU) latched on and still holding.
> 
> With regards to what you said:
> 
> ...




Hi Austrader, sorry to take so long to get back to you, it doesn't matter in this case as the price slowly goes down.

A capitulative bottom for me is when there has been massive decline in SP over a relatively short time period, on increasing volume that leads to a gap down (often on bad news the market was expecting), price decrease by another 10% plus, massive volume, but price stops falling and starts to rise. You have to be watching the event when it happens.

Using MLX as a possible candidate, a lot of the bad news has probably been factored in, but more bad news, could see the price plummet by another 30-50% on great volume. This tends to set off a lot of stop losses from traders, which accelerates the down trend. At some point the new buying outweighs the selling and the price starts to rise, often rapidly as selling is exhausted.

Of course it doesn't have to happen this way, (a capitulative bottom), but it might. If the bottom tends to be something different, then so be it, and try to work out what is happening. 

There is nothing on the MLX that indicates to me it is time to buy, even though it looked cheap at 40c, 30c and 20c.


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## aus_trader (19 August 2019)

brty said:


> Hi Austrader, sorry to take so long to get back to you, it doesn't matter in this case as the price slowly goes down.
> 
> A capitulative bottom for me is when there has been massive decline in SP over a relatively short time period, on increasing volume that leads to a gap down (often on bad news the market was expecting), price decrease by another 10% plus, massive volume, but price stops falling and starts to rise. You have to be watching the event when it happens.
> 
> ...



Thanks for explaining what you meant by 'capitulative bottom'. I have seen this type of reversals especially if it is accompanied by a pin bar or long-handle hammer formation as shown in the example below using a different stock. It might not be a complete trend reversal in each situation but there is at least a short term bounce that usually follows.


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## Miner (19 September 2019)

Metal X 
Trading halt. A capital raise. Lots of reset plans. Lots of funding requirements. Nifty is a problem child for sure from Birla time. 
With hay days for copper and Tin, they relied on Tin and Renison  but could not turn around nifty copper. 
With desperation of fund one dies need to be an Archimedes  to find Eureka after the trading halt is over. Further depressed price. Another take over then ? Who buys a car beyond easy fix?
Thankfully sold out with lesser losses compared to what is today. 
Will wait aside to get a relief


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## Smurf1976 (21 October 2019)

Up 18.92% today to a close at 22 cents.

An announcement after the close of a change in a major holder, L1 Capital, now holding 15.05% up from 9.93%.


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## Smurf1976 (21 November 2019)

From the announcement on 15 November:



> Company has made positive progress on each of the Nifty work streams underlying the key lead indicators for the targeted increase in mining production rate to 2 Mtpa. These key lead indicators are: confidence in the resources and reserves, development of mining stocks, progress on ventilation issues and resolution of paste delivery systems.




Work streams?

Key lead indicators?

To me it reads like the sort of thing that comes from a bureaucracy aiming to confuse rather than to inform and I note the approximate 40% drop in the share price over the last 5 days....


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## Smurf1976 (21 November 2019)

brty said:


> There is nothing on the MLX that indicates to me it is time to buy, even though it looked cheap at 40c, 30c and 20c.



And now at 12c

Looking at the chart though, that's not far from the low about 10c a decade ago so I'm wondering if it might actually be near a bottom at this point?

Or alternatively, it's pretty much stuffed?

The recent trend can't continue that's for sure, it would soon be at zero if it did.


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## Miner (26 November 2019)

At last after lots of hocus poccus, strategy development etc - MLX called the shot - loss making drain Nifty is closed.
Hopefully market will react positively (guessing) to have a stop loss situation and making money on TIN . DNH
https://www.asx.com.au/asxpdf/20191126/pdf/44by5bh710058v.pdf

https://www.asx.com.au/asxpdf/20191115/pdf/44blqzdtvp9rwk.pdf
Good luck holders - your good days should return. Problem Child has been quarantined.  DNH.
But will look into market reaction shortly


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## aus_trader (26 November 2019)

Miner said:


> At last after lots of hocus poccus, strategy development etc - MLX called the shot - loss making drain Nifty is closed.
> Hopefully market will react positively (guessing) to have a stop loss situation and making money on TIN . DNH
> https://www.asx.com.au/asxpdf/20191126/pdf/44by5bh710058v.pdf
> 
> ...



It's unfortunate for the loss of 290 jobs but I think the Nifty operation was struggling all along and losing money for MLX, even Nifty 'Reset' initiative couldn't turn it around.


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## Miner (26 November 2019)

Miner said:


> At last after lots of hocus poccus, strategy development etc - MLX called the shot - loss making drain Nifty is closed.
> Hopefully market will react positively (guessing) to have a stop loss situation and making money on TIN . DNH
> https://www.asx.com.au/asxpdf/20191126/pdf/44by5bh710058v.pdf
> 
> ...



Market received the MLX announcement with a big thud contrary to what I expected. I believe the reaction was on a short term outlook.
The loss of jobs is most unfortunate but that was inevitable. Nifty has been operated by previous owner Aditya Birla group very poorly without replacing the aged equipment. 
Question would be who would buy the junl copper portfolio? 
Let's wait and see.


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## barney (26 November 2019)

Miner said:


> . Problem Child has been quarantined.




Given the costs involved to put Nifty into care and maintenance, it must have been losing bucket loads to make that the best option

Up front costs for the first 2 months of shut down $19 million … then $1.4 million per month.

They also have to pay out current creditors but the Final ore shipment looks like covering most of that.

So effectively, to shut this down and "keep an eye" on it for the next 12 months will cost the Company $34 million ….. then $15 million per year after.

Was it losing that much while it was operating?  Looks a tough road back at the moment.


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## Miner (26 November 2019)

barney said:


> Given the costs involved to put Nifty into care and maintenance, it must have been losing bucket loads to make that the best option
> 
> Up front costs for the first 2 months of shut down $19 million … then $1.4 million per month.
> 
> ...



Good stats and analysis. Hope the board and the CEO have done their sums on the same line.
Market returned to same level. 
From my own experience, Nifty plant unless thoroughly upgraded by some one or acquired by an   investor ( paying $2 / hr rate to imported  nationals and ignoring our rules and ethics), will be a no win business.


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## aus_trader (26 November 2019)

barney said:


> So effectively, to shut this down and "keep an eye" on it for the next 12 months will cost the Company $34 million ….. then $15 million per year after.




I was also surprised to see the cost of halting this mining operation and ongoing costs. It's as bad as continuing to operate the mine at a loss !

Otherwise the share price would have had a boost today to see MLX finally pulling the plug on Nifty I reckon, even I might have been tempted to have a nibble. But not so sure anymore since it'll be using profits from Tasmanian Tin operations to look after Nifty on care and maintenance. If not enough they may raise capital from shareholders to look after Nifty


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## debtfree (3 January 2021)

I have chosen MLX as my top pick in the Tipping Competition for Full CY 2021, only looked at the charts for my picks.

 Last 5 weeks price has had good momentum, much stronger than XAO and with good volume. This has finally moved the Short term MA above the Long term MA, 1st time in nearly 3 years.

Can it get back to towards the $1.00 level by the end of the year? I don't know but if it does it will be a great return and it's heading in the right direction at the moment.


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## Dona Ferentes (25 February 2021)

Tin metal prices close to breaking through $US30,000 per tonne (A$37,300/tonne) barrier for first time since 2011
'*Demand for tin has accelerated in recent months*' – International Tin Association
Shipping delays, rains in Indonesia, accelerating demand from chemical and electronics sectors, all drive up tin's price
Australia has only one major tin-producing mine, Renison Bell in Tasmania, and its production goes to export customers as domestic consumption is quite low.


> "All of the tin mined there is exported to smelters in Asia; there is no smelting capacity in Australia," said Willoughby. "Domestic demand for tin is relatively small – around 250-350 tonnes per year. If there was a smelter in Australia, mining at Renison would be more than adequate for Australian demand," he said.



Renison Bell's operator and 50 per cent owner Metals X (ASX:MLX) said the mine produced 2,000 tonnes of tin-in-concentrate in the December-ended quarter, down 14 per cent on the September-ended quarter.  All in sustaining cash costs for the Renison mine were $US20,978 per tonne in the December quarter, and the mine has a production target of 8,200 to 8,500 tonnes for the 2021FY.


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## Sean K (10 March 2021)

Dona Ferentes said:


> Tin metal prices close to breaking through $US30,000 per tonne (A$37,300/tonne) barrier for first time since 2011
> '*Demand for tin has accelerated in recent months*' – International Tin Association
> Shipping delays, rains in Indonesia, accelerating demand from chemical and electronics sectors, all drive up tin's price



Is this all about tin? Part of the EV/RE fad? Tin looks to have come off quite a bit, is there anymore upside or has it run its course?


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## Wilham (1 April 2021)

Pick for the April comp. Multi-year down trend bottomed out and recent upswing. Last few weeks price has been consolidating on reducing volume, looking for a pump higher out of consolidation


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## Joules MM1 (29 April 2021)

MLX 13 week money (in)flow riding high and consistent last 4 months, 
light volume influences which works both ways in the pro/con, clearly tho the buying that is being done is trouncing the selling
cup n handle thingy with (squinting) bull flag thingy
#IDHTS but it's worth following for the ASF comp


			https://www.tradingview.com/x/sNwstwg9/


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## Sean K (29 April 2021)

Joules MM1 said:


> cup n handle thingy with (squinting) bull flag thingy




I agree, bull flag thingy.


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## aus_trader (4 May 2021)

Bought some MLX shares today. Details and reasons are explained in Speculative Stock Portfolio.


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## finicky (4 May 2021)

Very encouraging monthly chart suggesting a completed base to me. Recent strong postive volume bars are placed pefectly on the upswing with small bodied candles giving way to large bodied.


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## aus_trader (4 May 2021)

finicky said:


> Very encouraging monthly chart suggesting a completed base to me. Recent strong postive volume bars are placed pefectly on the upswing with small bodied candles giving way to large bodied.
> 
> View attachment 123721



Great longer term chart @finicky which probably shows that MLX could have a longer term price rise, even if it looks like the stock has had a good run in the short term.

In it's pure play Tin mining days, it was a high yield dividend paying market darling before the collapse with the Copper affair. Now that it has severed the ties with loss making Copper assets it could be heading back to the glory days and rewards for the shareholders could be on the cards down the track...  🤞


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## TechnoCap (4 May 2021)

a nice entry into MLX at 21.5c


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## TechnoCap (5 May 2021)

I might be a bit bullish with the next stop being 32c
nothing suggesting this isn't highly likely


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## Sean K (5 May 2021)

TechnoCap said:


> a nice entry into MLX at 21.5c




That's a very good entry into MLX at 21.5 yesterday.


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## TechnoCap (5 May 2021)

entry 28/4


kennas said:


> That's a very good entry into MLX at 21.5 yesterday.


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## Joules MM1 (13 May 2021)

https://www.tradingview.com/x/AsBL9vqM/
		


merely adjustments to the uptrend


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## TechnoCap (14 May 2021)

another entry at 22.5c today on the pullback


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## Joules MM1 (26 May 2021)

more transactions at the offer, print displays all the bull qualities required for continuation

get em up, pig


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## Dona Ferentes (26 May 2021)

Metals X Limited has signed a binding terms sheet with *NICO Resources Limited (NICO) *for the sale and spin out of its Nickel asset portfolio, including the Wingellina Nickel-Cobalt Project located in Western Australia and the Claude Hills Project located in South Australia.

The Terms Sheet provides for the sale of all of the shares in Metals Exploration Pty Ltd, currently a 100%-owned subsidiary of Metals X, to NICO with eligible Metals X shareholders to receive a direct holding in NICO shares so as to spin out the Nickel Assets from Metals X.  Metals Exploration holds the Nickel Assets through Metex Nickel Pty Ltd.  The registered holders of the tenements that comprise the Nickel Assets are two 100%-owned subsidiaries of Metex Nickel, being Hinckley Range Pty Ltd and Austral Nickel Pty Ltd.  

In conjunction with the Transaction, *NICO proposes to undertake an initial public offering* of its shares (IPO) and apply for listing on the ASX.  Under the Terms Sheet, NICO proposes to raise at least $8 million by the issue of: 
(a) approximately 20,000,000 fully paid ordinary shares at $0.20 per share to Metals X; and 
(b) at least 20,000,000 fully paid ordinary shares at $0.20 per share under the IPO. 

In addition to receiving the MLX IPO Shares, the consideration payable by NICO to Metals X for the purchase of the Nickel Assets will be $5,000,000, to be satisfied by the issue to Metals X of: 
(a) 25,000,000 shares in NICO at a deemed issue price of $0.20 per share; and 
(b) 25,000,000 options to subscribe for shares in NICO, exercisable at $0.25 each, expiring 3 years after grant.


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## bux2000 (26 May 2021)

Dona Ferentes said:


> with eligible Metals X shareholders to receive a direct holding in NICO shares so as to spin out the Nickel Assets from Metals X.



Sorry to be a little dim but may I ask how could you be an eligible Shareholder. I have a small holding bought back in February.

Thanks
bux


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## Dona Ferentes (26 May 2021)

bux2000 said:


> Sorry to be a little dim but may I ask how could you be an eligible Shareholder. I have a small holding bought back in February.
> 
> Thanks
> bux



Non Aust/ NZ as a rule. Too many legals.

But basically, being on the books on Record Date


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## bux2000 (26 May 2021)

Thank you for your time Dona ......makes sense.

bux


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## qldfrog (27 May 2021)

Dona Ferentes said:


> Non Aust/ NZ as a rule. Too many legals.
> 
> But basically, being on the books on Record Date



Don't you mean : must be australian or nz citizen ,and holding by the time of the press release to apply?


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## Dona Ferentes (27 May 2021)

qldfrog said:


> Don't you mean : must be australian or nz citizen ,and holding by the time of the press release to apply?



Yes. That's probably untangling it. But receive, not apply.


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## qldfrog (27 May 2021)

Dona Ferentes said:


> Yes. That's probably untangling it. But receive, not apply.



yes, and there is sometimes a future date whatever but usually, as you said, these deals by asx listed companies are restricted to Oz and sometimes NZ holders to avoid SEC /European regulation fillings etc


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## bux2000 (27 May 2021)

qldfrog said:


> and sometimes NZ holders



Blatant Separatism   ....the way things are going ewe's fella's will be teaching it in schools next
Never mind your Scomo's comin over this weekend perhaps our Jacinda will whisper in his ear. 🇦🇺🛬

bux


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## aus_trader (28 May 2021)

Who knows, if the deal goes ahead it might actually unlock some of the hidden value of the MLX Wingellina Nickel asset, it's supposed to be a sleeping giant which I read somewhere as the largest undeveloped Ni deposit. Actually comes up in Google search:






Development could be high though, it's a laterite deposit not a sulfide deposit like most of the Ni miners in Aus like Mincor, Western Areas etc.

I saw a similar thing happen when Alkane (ALK) spun out it's Rare Earth assets to ASM. I received the free ASM shares which I sold soon after only to discover they have quadrupled in value if I held today, hitting over stinky six badgers at peak. Sad story but true as evidenced by the journaling in the Speculative Stock Portfolio


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## Joules MM1 (2 June 2021)

https://www.tradingview.com/x/uHOvu4xQ/ MLXEF (US OTC) 
more of the right print


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## aus_trader (2 June 2021)

I think the local asx chart looks better for MLX.


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## Joules MM1 (7 June 2021)

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good dogs









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## Joules MM1 (28 June 2021)

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.205 would be nice, a boot filler, channel sez what!?!


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## Joules MM1 (30 June 2021)

lobsided DOM has been this way for a few weeks, price still slumping, .205 is my bootfilla level


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## Joules MM1 (14 July 2021)

if you were a seller, seeing this DOM, have to suspect there's a  better price coming .....
(commsec)





giddyup pig


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## Joules MM1 (30 July 2021)

the sell side suddenly looks heavy until sell orders thin out without making a sale, 
chart looks nice








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## divs4ever (6 August 2021)

CHIEF EXECUTIVE OFFICER RESIGNATION Metals X Limited (ASX:MLX) (Metals X or the Company) announces that Michael Spreadborough will step down from the role of Chief Executive Officer, effective Monday, 9 August 2021. Given the change in the strategic direction of the Company following the divestment of its Copper and Nickel assets, the role will not be replaced at this time. Metals X Executive Director Brett Smith commented “On behalf of the Board I would like to sincerely thank Mr Spreadborough for his contribution to Metals X and its turnaround. We wish Michael every success in his future endeavours.” This announcement has been authorised by the board of directors of Metals X Limited

 DYOR

  and i thank the board for reducing my holding to an unmarketable parcel , and compulsorily acquiring it  , so kind 

 don't call me the phone slam might damage you hearing 

 ( more directors added to my black book )

 can't mine copper  can't mine nickel  , thank goodness they spun-off WGX  who can actually dig a little


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## aus_trader (6 August 2021)

divs4ever said:


> CHIEF EXECUTIVE OFFICER RESIGNATION Metals X Limited (ASX:MLX) (Metals X or the Company) announces that Michael Spreadborough will step down from the role of Chief Executive Officer, effective Monday, 9 August 2021. Given the change in the strategic direction of the Company following the divestment of its Copper and Nickel assets, the role will not be replaced at this time. Metals X Executive Director Brett Smith commented “On behalf of the Board I would like to sincerely thank Mr Spreadborough for his contribution to Metals X and its turnaround. We wish Michael every success in his future endeavours.” This announcement has been authorised by the board of directors of Metals X Limited
> 
> DYOR
> 
> ...



Yeah, was once a great dividend paying company as we've discussed in this thread over the years with it's Tin operations before making blunders and losing so much money trying to mine other commodities as you've mentioned.


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## Joules MM1 (6 August 2021)

as you'd expect when a very ordinary "yeah, righto, cya mate!" prints yet the reaction is inline with a healthy trend: not a lot


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## aus_trader (6 August 2021)

Purely from a shorter to medium term chart point of view, MLX looks fine.

However if anyone has followed this company over the years, it's a good story of a great profitable company that was paying regular and dividends was slowly mismanaged at the expense of shareholder capital losses while company funded loss making ventures via capital raises etc.


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## divs4ever (6 August 2021)

i guess those Indian copper miners weren't so inept after all

 moral of the story .. not all new acquisitions are bargains


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## aus_trader (6 August 2021)

They've come full circle... back to being a Tin miner.

So all that money and years of time wasted going on Copper/Nickel/Gold adventures could've been used to just run a profitable Tin operation and rewarding shareholders with years of consistent dividends.


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## divs4ever (6 August 2021)

the gold mining ( WGX ) MIGHT go somewhere in the long haul ( but no promises on that from me )

 but yes i bought in happy it was mining tin  but all it seemed to mine was my pocket


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## aus_trader (6 August 2021)

divs4ever said:


> the gold mining ( WGX ) MIGHT go somewhere in the long haul ( but no promises on that from me )
> 
> but yes i bought in happy it was mining tin  but all it seemed to mine was my pocket



I've got WGX in a watchlist with a whole lot of other Goldies being monitored.


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## qldfrog (6 August 2021)

aus_trader said:


> I've got WGX in a watchlist with a whole lot of other Goldies being monitored.



did I just see the CFO resigning or something of the sort today?


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## aus_trader (6 August 2021)

qldfrog said:


> did I just see the CFO resigning or something of the sort today?



Yep, gone.





Could actually be a good thing actually @Joules MM1 , perhaps the company could be run better without too much excitement on wild rides.

If we are talking long term, as Warren Buffet would have it less exciting boring businesses that make profits year in, year out (like MLX used to and pay part of those profits as dividends) would be more appealing than wild goose chases...











Please don't confuse my long term comments about the company that we've followed for years with short/mid term trading which I also do from time to time with stocks.


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## divs4ever (6 August 2021)

i liked the little tidbit that the CEO will not be replaced 

 so have they given up mining completely  ??

 or do the still operate  the tin project  ??

RENISON TIN OPERATION (MLX 50%)

Metals X Limited (Metals X) is pleased to announce that the work on the Renison Tailings Retreatment Project (Rentails) will recommence with the expected completion of an updated Definitive Feasibility Study (2022 DFS Update) in 2023. The project involves the retreatment of tailings at the Renison Tin Operation (Renison), in which Metals X holds a 50% equity interest. Renison is managed by Bluestone Mines Tasmania Joint Venture Pty Ltd (BMT or the Manager) on behalf of the joint venture owners. 

 DYOR


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## Joules MM1 (16 August 2021)

pacman trend build








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...which is nice


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## aus_trader (31 August 2021)

Looks to be setting up for a breakout higher...


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## Joules MM1 (31 August 2021)

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softly softly ^


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## aus_trader (31 August 2021)

Recent price action on MLX looks encouraging stair stepping up for a breakout, I'll put on a trade to buy the breakout and follow trend with a trailing stop.

Tin price is looking very positive, which adds more evidence to validate the trade setup for MLX:


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## Joules MM1 (1 September 2021)

and things i like to see on my credit card "Interest Bearing Liabilities  -43.65%"


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## aus_trader (1 September 2021)

MLX was bought as it was breaking out to the upside and is back in the Speculative Stock Portfolio.


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## Joules MM1 (17 September 2021)

Apac fills the tank  almost 20% of MLX

news that fits the trend and not a reason to sell the strength


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## Sean K (24 September 2021)

aus_trader said:


> MLX was bought as it was breaking out to the upside and is back in the Speculative Stock Portfolio.




Gotta be happy with this one.  Buy and hold or trade plan?


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## aus_trader (25 September 2021)

kennas said:


> Gotta be happy with this one.  Buy and hold or trade plan?
> 
> View attachment 130677




In speculative portfolio, every stock is traded. Proof is we sold out of this stock recently only to buy the breakout once again as the company fundamentals didn't change when the original trade didn't work out. 

It looks like a profitable trade at the moment buying the breakout, this time around


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## Joules MM1 (25 September 2021)

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relatively speaking (above)
$JJT (CBOE)
$XJO
$XGD

very likeable (below)








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## Sean K (14 October 2021)

This has been fantastic to watch, just wish I was on board. Not sure why I didn't jump on, maybe preserving cash for a breakdown and saw better value elsewhere. But, I've been wrong. This has been a champ. Nice and steady, nothing crazy, just onward and upward...Great pick @aus_trader


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## aus_trader (14 October 2021)

kennas said:


> This has been fantastic to watch, just wish I was on board. Not sure why I didn't jump on, maybe preserving cash for a breakdown and saw better value elsewhere. But, I've been wrong. This has been a champ. Nice and steady, nothing crazy, just onward and upward...Great pick @aus_trader
> 
> View attachment 131517



Thanks @kennas 

Could have easily sat on the sidelines because the first attempt in the speculative portfolio earlier got stopped out. The turn-around in the company fundamentals provided sufficient conviction to dust off the losses and have another go.


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## Sean K (15 October 2021)

aus_trader said:


> Thanks @kennas
> 
> Could have easily sat on the sidelines because the first attempt in the speculative portfolio earlier got stopped out. The turn-around in the company fundamentals provided sufficient conviction to dust off the losses and have another go.




I wonder if anything else contributed to MLX going up like that? 🤔

🙂


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## Joules MM1 (27 October 2021)

even with $xjo in sell mode, $MLX should keep its upwards trajectory, until the value has been squeezed out








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## Joules MM1 (29 October 2021)

Joules MM1 said:


> even with $xjo in sell mode, $MLX should keep its upwards trajectory, until the value has been squeezed out
> 
> 
> 
> ...




the 0.345 level is a ratio and structural level, its a normal retracement,  a 1 to 1 (simple abc)
snapping 345's would be critical for the upside, out at .340's for mine if that prints (excluding the SPA)

todays a no-window-dressing end of month sell across the board locally, 
i suspect we'll see some support come in for mlx on monday 1st

the CRB is about to hit a standard 38.2% retrace level 244 (Reuters) and has been in a very tight channel
with TIN being on a high and sentiment for TIN and MLX on a general high it is important to stick to a trading plan

so long as the .345 soldifies nothing to do

gold is clearly in a funk, so too palladium, the rocketing of TIN has been stellar in comparison but it commods come completely off the boil thru the CRB lens then its smart to trim/pare/scale/exit to lock in profits

#idea


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## Joules MM1 (14 November 2021)

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construct, levels and channel says more upside


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## Joules MM1 (26 November 2021)

$major indexes are in bale mode, decent stocks will pare backa few % as managers rebalance/adjust (some on margin)
if the construct of a trend is good it should afford the range to pare and then eventually value take it back on course


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## Joules MM1 (1 December 2021)

most holders have rec'd the proxy forms and necessary updates etc
technically the generic indicia suggest a weaker higher high weekly basis
... if we look at the structure pov it belies data based on volume alone








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## Joules MM1 (7 December 2021)

$mlx price may want to take some time to track sideways as expansion taps the roof of the channel, structure says we have a few more shekels to go, if we close above the channel we can expand x 2


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## Joules MM1 (20 December 2021)

the sideways move has a wide zone to play in, if the daily summation can keep the longtails the higher vpoc will dominate
and allow quicker price discovery as sellers accept higher prices and buyers chase, regardless the fundamental outlook


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## Sean K (19 January 2022)

Doesn't look to be any change to tin been in short supply with the price continuing to go. Same story with Ni and Cu. MLX paused a little the past month, but still overall tracking the POT.


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## Sean K (3 February 2022)

Tin still heading up by the looks with MLX continuing to pause for the moment. I wonder how much longer the tin supply v demand issue will go on driving up the price of both tin and MLX? I'm not sure if anyone would have predicted this only a couple of years ago. 

But, what's the outlook? Here's one opinion.

*Tin price outlook dims in 2022 – report*​


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## Sean K (8 February 2022)

Tin up 10% so far this year. MLX breaking up, again...


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## Sean K (16 February 2022)

Unusual for an announcement like this to come out at the end of the day. Maybe there's something in here that's not that good. Finished up 5% so must be OK.


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## Tropico (3 March 2022)

Makes a new high for the last few years, but it is around very long term resistance.


			https://invst.ly/xjrpv


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## Sean K (3 March 2022)

Tropico said:


> Makes a new high for the last few years, but it is around very long term resistance.
> 
> 
> https://invst.ly/xjrpv
> ...




Yes, but completely different narrative with the price of tin just running and running.


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## Tropico (4 March 2022)

Sean K said:


> Yes, but completely different narrative with the price of tin just running and running.





TIN certainly has had a great run from the low in March 2020, almost too good to be true. MLX has enjoyed an incredible run as well.
Coincidently the two having a low at the same time (for MLX much to do with the companies own  woes).

MLX v TIN 2 year






Even the 1 year comparison is impressive

TIN v MLX 1 year




It's around 2 months since the completion of the sale and spin out of MLX nickel assets to NC1, which MLX held 23.19%, issued @$0.20, last $0.645, but that doesn't seem to have had an impact on MLX price since then. Disclosure doesn't seem to be an issue here, but if I was asked, then I wouldn't truthfully be able to say I didn't (at this time).

Let us hope the TIN price (and MLX) continue to rally.


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## Knobby22 (31 March 2022)

MLX, tin isn't cool but it is profitable.


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## tookie (20 June 2022)

My pick for the July comp  – reason: noticed the price fall rapidly within a short space of time… also expected that tin should remain elevated (in my opinion anyway) especially with continued growth in the electronics industry...


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## Sean K (24 June 2022)

tookie said:


> My pick for the July comp  – reason: noticed the price fall rapidly within a short space of time… also expected that tin should remain elevated (in my opinion anyway) especially with continued growth in the electronics industry...




Good luck. Hopefully there's at least a dead cat somewhere soon.

Tin's increadible run (bubble) over the past 2 years popped in April, along with some other metals. Pretty nasty fall and it's hard to see what's going to halt it and turn it around in the short term. Nasty stuff. Perhaps a lot of fear is factored in and it's oversold?


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## frugal.rock (30 August 2022)

I was disappointed that I missed it's runup. 
It's back in my thoughts.


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## rcw1 (29 December 2022)

Good morning
MLX making a run of it today (29/12/22)
Surprised rcw1 
Price of tin and copper improved past  week 

Holding … just 

Kind regards
rcw1


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## rcw1 (30 December 2022)

nice strong buying ... trying to work out why??  any number of possibilities really.

holding
rcw


rcw1 said:


> Good morning
> MLX making a run of it today (29/12/22)
> Surprised rcw1
> Price of tin and copper improved past  week
> ...


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## aus_trader (30 December 2022)

Looking good...


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## rcw1 (30 December 2022)

rcw1 said:


> nice strong buying ... trying to work out why??  any number of possibilities really.
> 
> holding
> rcw



Oh rcw1 gets it, they have worked out how to turn tin in gold ha ha ha ha haha 

and piggies fly backwards toooo


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## debtfree (3 January 2023)

I have selected MLX in the 2023 CY Tipping Comp.

2021 was a great run up and into April last year before lots of the commodities stocks fell back in price. December's price movement caught my eye and gave me hope that it might find it's way back to higher prices over this year. Once again only time will tell.


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