Australian (ASX) Stock Market Forum

MMX - Murchison Metals

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MMX up 45 cents for the day (12.68%

Code Last -Move % Move -Buy -Sell -Open High Low Volume --Value ------Last Traded
MMX 4.00 0.450 12.68% 3.94 4.00 3.63 4.00 3.60 3,686,202 14,063,740 17-May 04:10:19 PM

The SP increases have been brilliant recently
Date ---- Close Volume
16-May-07 3.55 1,796,683
15-May-07 3.47 8,055,543
14-May-07 3.44 2,439,969
11-May-07 3.25 2,055,421
10-May-07 3.05 1,615,484
09-May-07 2.84 721,164
08-May-07 2.96 1,769,432
07-May-07 3.03 2,524,255
04-May-07 2.79 1,206,750
03-May-07 2.79 2,254,660
02-May-07 2.48 1,220,900
01-May-07 2.32 2,813,683
30-Apr-07 2.38 2,254,714
27-Apr-07 2.30 2,623,558
26-Apr-07 2.05 2,723,246
24-Apr-07 2.14 623,329
23-Apr-07 2.18 781,102
20-Apr-07 2.10 776,042
19-Apr-07 2.08 2,811,048
18-Apr-07 2.12 2,141,082
17-Apr-07 2.28 560,836
 
Well today MMX closed up a total of 12.7% at $4.00 exactly.

I had MMX on my to watch list portfolio and now im kicking myself that i didnt jump on board even only 2 weeks ago..

Im really surprised at how well MMX is going, Its climbing really nicely.

Looks to be a bit of resistance at the $4.0 level though with 6 sellers of 230 000+ units. I think after that there looks to be a nice climb to $5.0.

Looking at the previous dollar barrier of $3.00 the price did dip slightly under $3 immediately after reaching it but then shot back up again.

The Graph indicates that the MACD is very positive while the RSI indicates that it is approaching the overbrought area.

The 2mnth graph can be found here with corresponding MACD and RSI

http://markets.smh.com.au/apps/qt/q...&section=charts&sortBy=null#topOfChartsAnchor

Would anyone please like to critique what I have just said, im new and i would appreciate any feedback (negative or positive) in your own opinions ofcourse.:cool:
 
The volume has been solid all week now......interested in peoples opinions about the sellers, is this long term holders taking profit? i think the fundamentals of MMX are excellent. will be holding this one for a while.
 
Bit of profit taking today.. about time really

Still didn't dip below yesterday's low..

monday should be interesting..
 
just entered into a trading halt.

anyone out there know why? or have any theories?

hopefully something big :)
 
I'm interested to know as well..

the sp has been staying in the high territory.. so I would expect good news..

could be the announcement with the railway? I have no idea..
 
My guess - from Myrill lynch report is resources update for stage 2 due by end of june 2007 qtr. Will be 1st step as wont be JORC.

Go you good thing :):2twocents:p::D:eek:
 
mmx and fmg are both in halts now.
is this just pure coincidence? or could a t/o be on the cards?

this is just rampant speculation by the way
 
prawn_86 said:
mmx and fmg are both in halts now.
is this just pure coincidence? or could a t/o be on the cards?

this is just rampant speculation by the way
Click to expand...

Time to start rumors my friends!!!

Is it coincidence or something fishy. FMG also on trade holt. Also due back on Tuesday.

Could this be linked?

Could be takeover?

Could be that FMG might replace MIS in infrastructure deal now that MIS have pissed off to go work with yilgarn?

Take your pick. Whats everyone's preferred.

I definately dont wont take over. Were to good for that.
 
takeover would be alright in my eyes if they offered about 150% premium to the current price.

is very interesting indeed. at least we dont have long to wait
 
Just saw this..

http://www.abc.net.au/news/items/200706/1952408.htm?northwestwa

Murchison Metals in trading halt pending announcement
Friday, 15 June 2007. 13:31 (AEST)Friday, 15 June 2007. 13:31 (ACST)Friday, 15 June 2007. 10:31 (AWST)

Murchison Metals has been placed in a trading halt, pending an announcement on Monday which is expected to relate to the development of infrastructure in the mid-west.

The emerging iron ore producer owns the key Jack Hills deposit, 380 kilometres north-east of Geraldton.

The company will not say what the announcement is, but there is speculation it may relate to the resolution of an ongoing dispute with Midwest Corporation over infrastructure.

Midwest Corporation last week scrapped plans to build the Oakajee port and a rail line with Murchison in favour of Yilgarn Infrastructure group.

Midwest said it would consider allowing Murchison to join the alliance.
 
TOKYO, June 18 (Reuters) - Mitsubishi Corp. <8058.T>, Japan's
largest trading house, said on Monday it would announce details
of an investment in an iron ore development project in Australia
at 0630 GMT.
The Nikkei business daily reported in its evening edition
that Mitsubishi would invest about 300 billion yen ($2.43
billion) in the project, which will be handled by a joint venture
with a local firm.

i believe this is the related story for MMX
 
This announcement is on the bloody front page of ninemsn.com.au ! talk about publicity!!! bloody hell! i think MMX could end up like fortescue!
 
aaronphetamine said:
This announcement is on the bloody front page of ninemsn.com.au ! talk about publicity!!! bloody hell! i think MMX could end up like fortescue!
Click to expand...
Aaron, why could this be like FMG? Can you compare their resources, stage of development, management, location, market caps, charts, etc etc. Thanks.
 
MMX up 20% today.. with a peak so far of 5.20..

Does anyone have thoughts on any further upside for this stock?
 

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