MLS

About MLS

Metals Australia Ltd (MLS) is an Australian exploration company listed on the Australian Securities Exchange under the symbol MLS. Metals Australia operates in the mineral resource sector, with its focus on exploration for graphite and gold in Canada, and lithium, zinc and other base metals in Western Australia.

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What does Metals Australia Ltd (MLS) do?

It's not hard to guess. Metals Australia Ltd is a minerals exploration company. They focus on sourcing zinc, gold, silver, copper, lithium, graphite, nickel, and other base metal deposits throughout Australia and Canada.

Based in Perth, Metals Australia is currently focused on five projects:

• Manindi Lithium & Zinc Project — Located in the Murchison District of Western Australia, approximately 20 kilometres southwest of the Youanmi gold mine, this project is comprised of three mining leases and host to an undeveloped zinc deposit. Assay results have also found lithium, rubidium and tantalum.

• Lac Rainy Graphite Project — Located 22 kilometres southwest of the historic mining town of Fermont in Quebec, Canada, Lac Rainy covers an area of approximately 45.5 square kilometres and consists of 92 mineral claims. Metals has been carrying out metallurgical testwork and is close to completion.

• Eade Copper-Gold Project — Approximately 120 kilometres east of Radisson in Quebec, Canada, this project is made of two distinct domains: West Eade and East Eade. Each domain is 12 kilometres apart and both are considered to be highly prospective for gold, copper and silver.

• Lac du Marcheur Copper-Cobalt Project — Covering an area of 17.8 square kilometres, the project represents 35 active mineral claims. An airborne magnetics and electromagnetic (EM) program was completed in January 2022. Further exploration is being planned.

• Nepean South Nickel Project — Located south of and along strike of the historic Nepean nickel sulphide mine and considered highly prospective for gold and nickel. Metals acquired a 100% interest in the project in March 2021 from Auroch Minerals (AOU). To stay focused on Manindi and Lac Rainy, Metals has outsourced the project to Sabre Resources (SBR).

Is Metals Australia a profitable company?

No. Metals have recorded zero revenue and net losses since FY2012. The company’s net losses came in at A$1.8m, A$587k and A$785k in FY2019, FY2020 and FY2021, respectively.

To continue its operations, Metals raised a total of A$1.69m by issuing shares throughout FY2021. In a “heavily oversubscribed” capital raising in March 2022, Metals raised another A$7.8m from investors.

As of April 2022, Metals Australia has no debt.

Is MLS stock a buy?

Some investors are bullish. 

On 2 March 2022, Metals announced high-grade lithium, rubidium and tantalum assay results from their rock chip sampling program at their Manindi Lithium & Zinc Project. On 7 March 2022, Metals raised another A$7.8m from investors by issuing 100 million more MLS shares. The placement was “heavily oversubscribed”.

By 21 March 2022, the company had completed half their drilling program testing at Manindi to discover “thick intersections of lithium bearing pegmatite.”

Off this wave of good news, investors had driven the MLS stock price up almost 350% from A$0.053 all the way to A$0.185 by 13 April 2022.

How do I buy MLS stock?

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Does MLS stock pay dividends?

No, Metals Australia has no history of paying dividends and has not made any announcements to pay them in the future.

Who owns MLS stock?

MLS stock’s biggest owners include Nguyen Phung (58.6%), Thi Thu Nguyen (13.96%), Parrac Pty Ltd (1.61%), Everbright Accounting Services Pty Ltd (1.14%), Corporate Resource Services (1.02%), Niu Chunyan (0.83%), N Go Azure Pty Ltd (0.74%) Metals Non-Executive Director Gino D’Anna (0.69%) and Kovig Investments Pty Ltd (0.65%).