MLS - Metals Australia

[Caliente]

lol at Mandini!

Hopefully the great Mandini doesnt do a disappearing act on us


(obtuse Houdini Reference)

 

[sleeper88]

..running hot it is, witt the market down approx 1%..mls held up well in early trading and now it's pushing up against 10c, if it was a up day today..then i can bet my bottom dollar that mls would be past 10c by now.

 

[Caliente]

given the state of the market today - MLS performance has been nothing short of stunning with heavy volume.

Obviously the magic 0.10 aka the 52 week high is the barrier here.

But I'm predicting that a late afternoon surge will take us there or just past it.

Best of luck to all holders/.
- Cali aka MLS two timer.

 

[Caliente]

about 5 minutes after my post, 10 cents has been reached!

Now things will start to get really interesting... although it would be right to expect a pregnant pause at this stage.

 

[hitmanlam]

hmmm. Who's willing to take the plunged @ 10.5c. Volume will stall for now...... I'm not holding.

 

[hitmanlam]

Someone took some profit @ 10c. Big chunk of shares sold. Trying to create resistance @ 10c maybe?

 

[Caliente]

hey hitmanlam! so I take it you chose AUZ then?

Good luck with your hold - but my theory at this novice stage of my trading remains that volume is king.

PS - i agree with you that things will stall as we move to 0.5 increments, has happened with every stock I've seen passing through this barrier. But the good ones DO make it, and on a positive note, someone has purchased at 10.5 so we'll see...

 

[sleeper88]

It needs to hold at 10c, then we're in business..impressive day..lets hope the afternoon doesn't disappoint

 

[hitmanlam]

Lol. Actually got it a minute ago @ 10c. A decent size parcel too! Thought id be the last chance to get in before it goes up in increments of 0.5c. Didn't want to chase it @ 10.5c. Rule number 1, never chase! Hopefully support will form @ 10c. 2 reasons i bought

1) Technically looking good
2) Involved in the u sector.

Lets see where this one goes.

 

[Caliente]

awesome - great to have you on board.

Looks like you were the last one to get in at 10!

Although the sell side looks ominous, for a volume hitter like MLS it really can disappear in a blink.

btw - what trading plan are you going to use for this one? I might try the double/free carry for the first time if things go well.

 

[hitmanlam]

And look whats happening right now. Looks like resistance is now becoming support. Buyers queing up @ 10c. Ppl will have to forced to buy at 10.5c now if they want to get the stock. Wasn't surprised really after seeing stocks like WMT & AUZ.

 

[Gundini]

Very impressive, locked in with support @ 10 cents...

Has been a long wait but worthwhile, and on a down day...

 

[borat]

Got in on MLS 6mths ago and have been patiently waiting and it's been well worth it for the last few days I could feel it coming...
Looking at the chart history I can see a resistance point between 15-16c going back as far as 2000... Would you think being so far back that this has any relevance???

 

[hitmanlam]

awesome - great to have you on board.

Looks like you were the last one to get in at 10!

Although the sell side looks ominous, for a volume hitter like MLS it really can disappear in a blink.

btw - what trading plan are you going to use for this one? I might try the double/free carry for the first time if things go well.

Like you, i would probably hold until at least high teens ish. Main thing is probably look for indicators suggesting overbought and sell half my parcel. Might accumulate more if its oversold. Don't have a price target cause it limits the profit i can make. I like to just let my profits run these days. (Sold WMT @ 22.5c & look at where it is right now.) But yea, looking for overbought or oversold indicators & taking profits/accumulating at various points.

btw Cal. AUZ is a quality stock. What tipped me over to MLS was that it was involved in the U sector.

 

[zt3000]

How significant are the Uranium results they released. I know they only released 8 drill holes, so obviously they have more work to do.

When compaing to Paladin's mine, correct me if i'm wrong, feasibility had a cut off at 0.03% or 300 ppm for mining uranium oxide.

Most of the results MLS handed out were over 300ppm, and one was as high as 2819ppm ....

Does this mean MLS could potentially be onto a significant resource?

 

[Gundini]

Not much depth on the Buy side this morning. If the 5 Mil parcel gets taken out there is bugger all proping it up!

 

[Wysiwyg]

Not much depth on the Buy side this morning. If the 5 Mil parcel gets taken out there is bugger all proping it up!

The sellers created a huge resistance after the first rally. Price could only hold or retreat, so effectively the resistance was effective.

 

[Povesa]

I've sold my parcel today on open. Too many sellers. Will watch it closely and probably get back in when it takes off as WMT did

 

[Caliente]

yup - its taking a beating. But when you've got a;

- proven high grade zinc project

- promising U projects in Namibia that is showing good grades

- 30% free carry into a proven 100000t Nickel Project (Sherlock Bay) see

http://files.aussiehome.com/493/MLS Sherlock Bay Project 3.07.pdf

>>>I didn't know much about the nickel, so just running some quick calcs;

At an EV of 1% for the nickel x .30 (for MLS's carry), you still have a value of

0.01x0.03x100000x53100(current nickel LME cash buy) = $16m.

I consider 1% EV to be reasonable for in-ground metals.
>>>

I believe a significant appreciation is still on the cards for MLS.

 

[hitmanlam]

Price should hold around the high 9's to 10c. Will need another announcment to break though resistance of 12c. Dissapointing really. Will continue to hold though.