MLX - Metals X Limited

[Wilham]

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

 

[Joules MM1]

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/

 

[Sean K]

cup n handle thingy with (squinting) bull flag thingy

I agree, bull flag thingy.

 

[aus_trader]

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

 

[finicky]

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.

 

[aus_trader]

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... ?

 

[TechnoCap]

a nice entry into MLX at 21.5c

 

[TechnoCap]

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

 

[Sean K]

a nice entry into MLX at 21.5c

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

 

[TechnoCap]

entry 28/4

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

 

[Joules MM1]

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

merely adjustments to the uptrend

 

[TechnoCap]

another entry at 22.5c today on the pullback

 

[Joules MM1]

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

get em up, pig

 

[Dona Ferentes]

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.

 

[bux2000]

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

 

[Dona Ferentes]

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

 

[bux2000]

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

bux

 

[qldfrog]

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?

 

[Dona Ferentes]

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.

 

[qldfrog]

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