GREY:MLKKF - Post by User
Comment by
24~Karaton Jan 03, 2007 12:05pm
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Post# 11948630
RE: Copper Down -- ML is Up
RE: Copper Down -- ML is Updanross70,
In answer to your question as to why ML is largely perceived as primarily a copper play, instead of the more obvious choice that it is premier Molybdenum play.
ML has the unusual good fortune of having substantial current net income from its current SW EX copper oxide production. ($8,996,778, before non-cash items, for the first 9 months of this year.) The practical effect of this production is that is will help eliminate any need for ML to sustain any substantial dilution to finance the production from the sulfide portion of the deposit, which is where the treasure trove of moly production is contained. The perceived effect of this copper oxide production is that ML is still widely thought of as primarily a copper producer.
But that marketplace perception is gradually changing. Those who already have taken proper recognition of this fact will reap the best rewards.