Metals X is Australia’s largest tin producer and holds a portfolio of investments and assets from exploration to development including the world-class Wingellina Nickel-Cobalt Project. Michael gives his reasons why he thinks MLX is a buy.

“Metals X is involved in the operation of tin and copper mines in Australia, along with exploration and development of base metals projects in Australia.

“The market cap is only $500 million, which is a bit smaller than the businesses that we have recently looked at, but the chart looks very attractive here.

“MLX has been in a nice steady uptrend over the past several months.

“Most recently it formed a very clear resistance line just under 60 cents.

“When I see this, I know that it provides traders with a very clear trigger on when to buy.

“A break above this line would be a buy signal and traders can then place a tight stop under the breakout.

“We saw that breakout occur this week which means that MLX is likely to resume its uptrend.

“Current levels are therefore a buying opportunity and traders are able to run a tight stop,” Michael said.

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