Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
On LiveWire, MMI has been suggested as a potentially undervalued stock by Katana (x2), Seneca and Shaw. With all the focus on gold, silver, copper and others, do you see value in MMI and bauxite/aluminium. It does seem to have a very low PE. I appreciate it may be quite speculative. Thanks for all the excellent work. Best regards, Mark
Hi Mark,
For subscribers not familiar with MMI it’s a $555mn Australian company that produces and exports bauxite from its Bauxite Hills Mine in Cape York, Queensland, primarily supplying Asian markets. Its operations focus on low-cost, direct shipping ore (DSO) with seasonal mining and marine-based transshipment logistics.
The company delivered a significant turnaround in 1H of FY25:
At the end of June 2025, Metro Mining reported a net debt of approximately $44mn, down from $75.2mn in December 2024. The stock has tripled accordingly, over the last 12-months, but while it’s clearly a “specie” we still think it looks good value ~9c. Harry (who was with MM for a long time / now overseas) is a big believer in MMI!
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