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Business Description: Metals X Limited (MLX) is a diversified resource group with a portfolio of assets from exploration to production. MLX has interests in projects in Australia as well as having investment holdings across the mining industry with global reach from Madagascar to Mongolia.
Strategy Analysis: When attractive opportunities emerge MLX's strategy is to invest directly in the entity which owns the assets. MLX looks to take significant shareholdings and Board representation. MLX's nickel strategy is built around the Central Musgrave Project and includes the Wingellina Nickel Project. The current strategy for the Mount Bischoff project is for it to remain on care and maintenance in the short term whilst options for further underground and open pit mining are evaluated in conjunction with a tenement scale geophysical review to generate further exploration targets..
Metals X reported positive cash flow of $24.62m for quarter ended 31 December 2012. Operating cash flow for the period was $(6.52m). Payments for exploration and evaluation were $(352,000). Investing cash flow was $32.02m. Financing cash flow was $(885,000). Cash in hand at the end of the quarter was $74.34m. During the quarter, the Company completed the merger by scheme of arrangement with Westgold Resources; total operating performance from the 50% owned Renison JV continued to improve during the quarter - key outputs for the project included tonnes mined increased 4% to 162,820t @ 1.64% Sn; and the Central Murchison Gold Project definitive feasibility study was completed and concluded that a gold project development was achievable.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
‚ÄúAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier you‚Äôll be with the outcome.‚ÄĚ
William H. Gross, Janus Capital Group 16/10/2014 |
‚ÄúFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding ‚Äúminus‚ÄĚ 10 basis points.‚ÄĚ
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, it‚Äôs clear that a time factor is in play. Simply put, many investors ‚Äúfeel‚ÄĚ a correction is overdue. How low could it go?
The Age 19/12/2013 |
Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.
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