Re: MPJ - Mining Projects Group
Hey Crombo,
I picked up heaps of heads, will look to buy options soon too, the thing with the options is they can be the real big winners,
I bought a heap of CFRO 2.5c options for 2c when the SP was 1c-1.5c and recently sold heaps at 1c so that was a 500% return, high risk but high reward,
MPJO are far less risky because they have until July 09 as opposed to CFRO's Nov 08, also MPJO are 0.009c exercise vs an Share price of 0.006 so much more closer to being in the money than CFR 1c-1.5c and exercise at 2.5c
But opies are higher risk, the heads are really no risk as they are trading well below NTA (then again in these mkts alot of things are) and I guess there is an opportunity cost,
I have held a few MPJ for ages and have traded a much larger parcel in and out a few times,
This time what got my interest was the fact that next door MOL found huge hits of Fe from surface on the Western part of Spinifex Ridge which if you look at the map is proximate to MPJ'S Talga Peak
MPJ have recently completed some sampling and chip surveys from I think the Southern portion of their lease, given MOL's find next door and the fact that Talga Peak is a large tennement in the Pilbara rea of W.A. I'd say there may be a fair chance of some Fe possibly being present?
In any event given the fact we're below NTA I see little risk and am willing to roll the dice like I did with CFR