Australian (ASX) Stock Market Forum

MIN - Mineral Resources

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Out Too Soon said:
Damn! looked at these in Nov, wish I'd bought some. ~7.40 to peak 9.40 in a month :banghead:
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I bought some more down at $6.22 after getting in a while ago at $10.20. A good stock that got totally oversold, Im sure some people on this board may disagree with me but I think some really good mining service companies were sold off like MND, FWD, FGE and of course MIN.
 
Quite a plunge recently - today in line with pure miners allthough MIN is more diversified.

MIN been a strong stock with low debt and good dividends. However the buyers today were few. Is fear ruling or just common sense?

I hold the stock and am well in front. Interesting times that test patience - amidst a number of other factors.
 
Muschu said:
How low can it go? Rhetorical question ...... But getting tempting imo.
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my online broker has a technical target of 6.80 to 7.20

Mineral Resources Ltd forms bearish "Head and Shoulders Top" chart pattern
May 16, 2013

Recognia has detected a "Head and Shoulders Top" chart pattern formed on Mineral Resources Ltd (MIN:ASX). This bearish signal indicates that the stock price may fall from the close of 9.23 to the range of 6.80 - 7.20. The pattern formed over 100 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The price seems to have reached the end of a period of "distribution" at the top of a major uptrend; the break down through support signals a reversal to a new downtrend. The Head and Shoulders Top is created by three successive rallies in the price following a significant uptrend. The highest high (head) is in the middle, flanked by two lower highs (shoulders) at roughly the same level. Volume is highest as the price makes the first two rallies, then diminishes through the right shoulder. Finally volume surges as the price closes below the neckline (drawn between the two lows) to confirm the reversal.
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I sold out around 10.70 but if I could pick this back up down there I'd be happy, MIN is a excellent company.
 
I chose to sell as well at about an 8% profit. Did this with reluctance, and may have been an error, but plan to watch for another opportunity.
 
The half year results came out last week and it appears the market liked them!!

140219 - MINNs.gif​

The rest of the report can be read here:- http://stocknessmonster.com/news-item?S=MIN&E=ASX&N=667519

And the Daily P&F Chart

140219 - MINs.gif​
 
MIN having a rough day at the office.... Any thoughts as to why?

Thanks for any comments.
 
Muschu said:
MIN having a rough day at the office.... Any thoughts as to why?

Thanks for any comments.
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Iron Ore price - since the FMG crushing contract was cancelled, MIN are now more directly exposed to pricing to make up profit.
 
MIN posted 28% profit increase and the share market punished it by 5.9% share price reduction.
What could be the reason ?
 
Miner said:
MIN posted 28% profit increase and the share market punished it by 5.9% share price reduction.
What could be the reason ?
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The results were padded by one-off's so it actually missed guidance by a fair bit. The outlook for iron ore is not awesome and they are a pretty major producer. Compare their shareprice performance with other iron ore plays and you'd see plenty of potential downside.

IMO their foray into AQA was a great way to waste $18m... they played the game before without adequately / correctly assessing their chance of winning so it's a negative for me as well.
 
Are these the guys who crush ore for miners? Or am I thinking of someone else and if so who? I've read too many reports this week and my brain is a bit fried.:D
 
skc said:
The results were padded by one-off's so it actually missed guidance by a fair bit. The outlook for iron ore is not awesome and they are a pretty major producer. Compare their shareprice performance with other iron ore plays and you'd see plenty of potential downside.

IMO their foray into AQA was a great way to waste $18m... they played the game before without adequately / correctly assessing their chance of winning so it's a negative for me as well.
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And what's funny is that $18m they blew up was exactly what was needed to meet their earning estimate, opps.

What they have on offer would surely interest Baosteel if it was presented properly, as the Chinese probably don't like the idea of repeating the cost blowouts that Citic had.
 
McLovin said:
Are these the guys who crush ore for miners? Or am I thinking of someone else and if so who? I've read too many reports this week and my brain is a bit fried.:D
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Yes. That's what they do. Crush stuff. They also dig a fair bit of the stuff out of the ground.

It's only week 1 of the reporting season you weakling!

SilverRanger said:
And what's funny is that $18m they blew up was exactly what was needed to meet their earning estimate, opps.

What they have on offer would surely interest Baosteel if it was presented properly, as the Chinese probably don't like the idea of repeating the cost blowouts that Citic had.
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Yes... and they didn't need to go and buy that AQA stake to get a seat on the table. They could have just presened themselves as a service provider / partner and earn fee without bearing actual project risk.

Anyhow... a re-short for me if they get back up towards $10.50 mark.
 
Contrarian to the recent discusion I bought today some MIN shares, as it seems that from the 18 Jun bottom at 9.15 MIN has sported 5 Waves up. Though it is early to say whether a 3 Wave correction is over, some important points were reached at this stage-a fib 61,8% level and the runaway gap (10 Jul) was closed too.

It could move a bit more down but there is not much room for that-the ascending trend line support is at 9.5-9.6 area depending on time frame. Only if this level is breached it immediately jeopardise a bullish case.



min1.jpg



In the big picture I expect MIN to rise to 13-14 area in an Impulsive manner over the coming months as it looks like some sort of sideways correction is developing from Feb 2011 Top , or maybe it was over at Sep 2012 as MIN took a dive only in three waves and you can see that a pattern very similar to Leading Diagonal has formed from 6.20 bottom, it has been corrected in 3 waves down and just recently MIN sported 5 waves up, which is a trend change sign.

min2.jpg
 
I called their foray into AQA an act of madness at the moment I heard of it and it has played out.
I heard all these F#$%ing analysts talking about it as a shrewd leverage up to a seat at the table in order to secure or gain crushing contracts etc.
How the f@#$ was behaving like that going to endear them with Biosteel exactly? Oh Attack, disrupt and then ask for contracts? I just don't get it. How can such stupidity not be lampooned and called for what it is. They just through 18 million dollars out a f&*#ing window and made complete dicks of themselves to all involved. :dunno:
 
Updating recent 1H chart development...

Looks like MIN started to rise Impulsively but to confirm an uptrend we must have a 5 Waves up, so one more subdivision is missing. In the last couple trading sessions MIN started to move in "threes" witch I suppose could be a fourth wave Triangle in progress. With RSI already in un uptrend mode there is a good chance for MIN to rise further.
If it jumps on Monday to new highs the Impulse Wave would be complete. Then I expect a Correction into an ex dividend date. If Monday is down day(with no new highs), it leaves 3 waves up and the immediate bullish case is off the table. Let's see what happens.

I present a Chart with most likely scenario.

min3.jpg
 
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