Flesh wound lol... courtesy of BESBS players and MEO IMO. Positions now taken and with the spud today, on with the show.
Good luck all Peppies!
MMR - MEC Resources
- Thread starter moneymajix
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Flesh wound lol... courtesy of BESBS players and MEO IMO. Positions now taken and with the spud today, on with the show.
Good luck all Peppies!
- Joined
- 27 November 2006
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On the face of it MMR seems to have ticked all the right boxes for more stellar gains during this week based upon the following.
We closed at the day's high +39% at 16c with the options (20c maturity 4th July 2013) up 65% at 5.8c
Volume at 3.8mn is the highest since back in February when MMR was still trending downwards.
At the close there were 1.6mn shares in the bid queue above yesterday's close - which with the close at the day's high would indicate there are a lot of unfilled orders out there.
The offer side is tiny compared to the bid side especially nearer to the market price.
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In addition to the above casual observations I also like the following:
The independent report prepared by the consultancy firm RISC gives the Weaber Field 13.9 bcf of 2C reserves which to me sounds like a lot even if, at 2C, the provenance is not 100% - which is why it is 2C. A compelling farmin project perhaps?
The half yearly report gives the asset backing per share of 32.1c against an SP of 16c today.
It is worth listening to the BRR presentation from 11th April as it potentially gives some clues as to future developments which as it was recorded 3 months ago could easily relate to early July. especially with regard to RL1 & EP 386.
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I have taken a punt by buying 50k options and 50k heads today - it is unlikely I will buy any more.
Any unexpected ANNs such as a farmins or other corporate developments would have to be seen as a bonus.
Still there was a lot of buying today there has to be a reason behind it all - after all MMR has been a bit leaky in the past so let's hope it is again.
With options not due until mid 2013 then the undiluted mkt cap based upon 16c and 156mn shares is still only around $25mn.
Cash is around $12mn.
I am suprised we did not get a speeding ticket today - not to worry imo some sort of ANN must be due to justify today's action on the screen.
Any comments or other MMR goodies I have missed?
EB
We closed at the day's high +39% at 16c with the options (20c maturity 4th July 2013) up 65% at 5.8c
Volume at 3.8mn is the highest since back in February when MMR was still trending downwards.
At the close there were 1.6mn shares in the bid queue above yesterday's close - which with the close at the day's high would indicate there are a lot of unfilled orders out there.
The offer side is tiny compared to the bid side especially nearer to the market price.
--
In addition to the above casual observations I also like the following:
The independent report prepared by the consultancy firm RISC gives the Weaber Field 13.9 bcf of 2C reserves which to me sounds like a lot even if, at 2C, the provenance is not 100% - which is why it is 2C. A compelling farmin project perhaps?
The half yearly report gives the asset backing per share of 32.1c against an SP of 16c today.
It is worth listening to the BRR presentation from 11th April as it potentially gives some clues as to future developments which as it was recorded 3 months ago could easily relate to early July. especially with regard to RL1 & EP 386.
--
I have taken a punt by buying 50k options and 50k heads today - it is unlikely I will buy any more.
Any unexpected ANNs such as a farmins or other corporate developments would have to be seen as a bonus.
Still there was a lot of buying today there has to be a reason behind it all - after all MMR has been a bit leaky in the past so let's hope it is again.
With options not due until mid 2013 then the undiluted mkt cap based upon 16c and 156mn shares is still only around $25mn.
Cash is around $12mn.
I am suprised we did not get a speeding ticket today - not to worry imo some sort of ANN must be due to justify today's action on the screen.
Any comments or other MMR goodies I have missed?
EB
- Joined
- 27 November 2006
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- 5
Up from 11c to 20c this week.
Closed with hardly any offered and a hugely increased bid side.
9mn shares traded durng the week.
Bid strength would indicate it will go much higher next week.
1 year high is over $1 so I guess they are still a bargain at 20c.
I hold both heads and options -
Worth keeping on the watchlist early next week imo
EB
Closed with hardly any offered and a hugely increased bid side.
9mn shares traded durng the week.
Bid strength would indicate it will go much higher next week.
1 year high is over $1 so I guess they are still a bargain at 20c.
I hold both heads and options -
Worth keeping on the watchlist early next week imo
EB