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General Information

Metals X Limited
MLX
http://www.metalsx.com.au
Diversified Metals & Mining
578
416

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$1.35 $1.34 $1.37 $1.33 $1.39 98147 $0.04 ( 3.24% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Strong Buy
06/07/2015
1

Company Overview

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.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 0.0 10.3 8.9% 13.5 3.2 2.3% 0.0%
2015 F 0.0 9.5 0.2% 14.7 3.0 2.2% 0.0%
2014 A 39.1 9.5 136.3% 7.4 2.7 3.9% 0.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
BHP Billiton (BHP) $83,536M 0.1223 -0.2501 -0.3978 10.7364 14.3180 23.7773 4.47% 6.16% 6.16%
Iluka Resources (ILU) $3,061M -0.5350 1.4453 0.6616 51.2623 20.9636 12.6165 2.60% 3.96% 5.25%
Metals X (MLX) $576M 1.3625 0.0021 0.0887 14.6561 14.6251 13.4336 1.96% 2.17% 2.29%
Rio Tinto (RIO) $21,702M -0.1938 -0.4311 0.0823 8.2645 14.5267 13.4222 5.12% 5.73% 6.04%
South32 (S32) $9,476M 0.0000 0.0000 -0.0759 0.0000 10.3188 11.1669 0.00% 0.00% 4.35%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.59 14.70 1.85 3.30
Market 0.91 15.90 1.33 1.27
Sector 0.72 11.80 0.67 0.35

Directors

Name Position Start Date
Mr Yimin Zhang Alternate Director 03/10/2007
Mr Peter Gerard Cook Chief Executive Officer, Executive Director 23/07/2004
Mr Warren (Wayne) Shaye Hallam Executive Director 01/03/2005
Mr Peter John Newton Non-Executive Chairman 14/12/2012
Mr Xie Penggen Non-Executive Director 09/02/2012
Mr Paul Mathew Cmrlec Non-Executive Director 24/07/2013
Mr Simon Heggen Non-Executive Director 25/10/2012
Mr Andrew Ferguson Non-Executive Director 10/05/2012

Management

Name Position
JW Russell Chief Geologist
MP Poepjes Chief Mining Engineer
PD Hucker Chief Operating Officer
Fiona Jayne Van Maanen Company Secretary,Chief Financial Officer
AH King General Manager - Tin Operations

Substantial Shareholders

Holding Name
397,630,281 (23.99%) APAC Resources Ltd
176,000,000 (10.63%) Jinchuan Group Limited

Calendar of Events

Date Event
22 April 2016 Report (Quarterly)
18 February 2016 Report (Interim)
29 January 2016 Report (Quarterly)
14 December 2015 Report (Annual)
26 October 2015 Report (Quarterly)
23 October 2015 Report (Annual)
25 August 2015 Report (Prelim)
22 July 2015 Report (Quarterly)
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