Australian (ASX) Stock Market Forum

MLX - Metals X Limited

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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:
1622127955052.png


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
 
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
 
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

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
Click to expand...
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.
 
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
 
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.
 
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.
 
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
 
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
Click to expand...
I've got WGX in a watchlist with a whole lot of other Goldies being monitored.
 
qldfrog said:
did I just see the CFO resigning or something of the sort today?
Click to expand...
Yep, gone.
1628239856582.png


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...

1628239678957.png


1628239805009.png


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.
 
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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