This article in the Financial Review caught my eye, and there is no MLX thread so I thought I'd start one. I bought some after surfing their website. There are a number of research reports on there that are all positive.

"METALS X
Metals X is Australia’s largest tin producer – one of the few listed examples – and, thanks to recent savvy acquisitions, will significantly expand its gold production.

The ramp-up in precious metal mining, alongside a large undeveloped nickel and cobalt Wingellina project in Western Australia, means the company, which has a market cap of $265 million, promises to become a mid-cap diversified mining house over the coming few years, says Hartleys analyst Scott Williamson.

Metals X has operating gold mines at its Higginsvile and nearby South Kalgoorlie operations; it bought both from Alacer Gold in October for about $40 million out of cash reserves.

Management was able to recoup that initial investment in a mere six months as it lowered the average cost of production by focusing on higher quality deposits. More recently, the company spent $10 million acquiring the undeveloped Meekatharra Gold Operations, which included a fully refurbished gold plant.

“The market hasn’t realised how important this fall in the Australian dollar has been for the gold producers,” Williamson notes. “The Aussie gold producers are making some good money.”

The company produces tin from its Renison Bell underground mine in Tasmania, but Williamson says the Wingellina project is the “sleeping giant if we see nickel prices improve as forecast”.

Metals X in October announced its inaugural dividend, equivalent to a fully franked 2.715˘ per share after a four-for-one share consolidation that was completed early in December. At the current price of about 84˘, the shares yield 4.94 per cent. Company management declared plans to distribute at least 30 per cent of annual net profits to shareholders.

The company is sitting on about $100 million in cash with no debt. Its shares trade at six times forecasts earnings per share in this financial year. Global fund manager BlackRock holds 6 per cent of the company, mostly through its World Mining Fund, while a large Asian investment house, APAC Resources, holds 24 per cent. Both are long-term holders, Williamson says."

They are up to 95 cts now.