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I was thinking about by some MMX today however reading that last post has left me unsure.. taking into account the thoughts of an unamed trader..
MMX - Murchison Metals
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lamot1
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Couple of questions, who is this 'unnamed trader' anyway and what is the basis for his statement? How is MMX's project 'unviable' when the company is already producing? Granted the MMX resource reserve is currently smaller than that of MIS but I don't think MMX will completely fall over if they can't get MIS. They do have substantial financial backing from Mitsubishi, who must have seen significant potential to invest so heavily.
I think most agree that a combined MMX and MIS would provide large infrastructure cost savings. From what I can glean it appears that only one of the two companies will be awarded the right to construct port and rail infrastructure. If that goes to MMX then it may be that MIS is the one who needs the other more. In regards to this does anyone know when the rail tender process is likely to be be completed?
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As a new comer on Murchison metals what are peoples thought who have been holding for a while on the current share price ? Do they consider it a good entry point .. What was MMX worth prior to the MIS merger idead ?? Do people expect MMX to tank if MIS goes the other way .. ?
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Okay thanks for the feedback guys !!
Well I have taken the plunge and am in today at avg $3.56 .. lets see what happens ..
Well I have taken the plunge and am in today at avg $3.56 .. lets see what happens ..
Struggling boys & girls.
Update today only 1.6 million shares issues in mis t/o out of 206 million. That is very poor. we are already past first cut off & close to second.
When not if do you think the increased offer will come & for how much?
who thinks sinosteel gueniue & you thinks it was an attempt to get mmx to show its cards.
Shorely we must issue a cash incentive due to our falling share price.
Emailed MMX re chameloen & they dont have a time table yet. it has not gone as far as the court offering an itinial advice & they dont have a timetable for it either. With that response shorely we are looking at at least two months before we even know where we are headed. That is going to cause great pain in our t/o attempt.
Do you agree with me that chameloen is holding back ou share price.
Love to hear some thoughts
Update today only 1.6 million shares issues in mis t/o out of 206 million. That is very poor. we are already past first cut off & close to second.
When not if do you think the increased offer will come & for how much?
who thinks sinosteel gueniue & you thinks it was an attempt to get mmx to show its cards.
Shorely we must issue a cash incentive due to our falling share price.
Emailed MMX re chameloen & they dont have a time table yet. it has not gone as far as the court offering an itinial advice & they dont have a timetable for it either. With that response shorely we are looking at at least two months before we even know where we are headed. That is going to cause great pain in our t/o attempt.
Do you agree with me that chameloen is holding back ou share price.
Love to hear some thoughts
MMX was high $4 prior T/o was $6 prior july crash. After july also went into the $3 mark but not for long.
current problem apart from market jitters are chameleon legal claim & expected competition for mis (In my opinion).
Each time chameleon has come out with a quote mmx hit hard & for a little while until board says dont woory about it there full of it. Well chameleon has put there money where there mouth is. So even know we have great trust in mmx board there are no guarantees they are correct until the court makes a decision. Provided it gets that far (huge possibilitty).
The other issue is how greedy will MIS get. Profits over potential? MMX have indicated they wont pay overs but this could be a bluff in it self.
Goodluck but just decide if you in for the long haul or quick buck. If its quick buck then it will defianetly hit $4 again.
Goodluck - ive been in since 50 cents (april 06)
miller
forever learning
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G'day all, happy new year.
Sorry I'm newer to this than I bet most of you all are, but just wondering what everyones thoughts are on MMX's current P/E Ratio? It's at 140.65 at the moment which is quite astronomical when compared to the sector's average of 15.41 (as quoted by Comsec). Does this worry anyone who currently holds MMX?
My understanding of this figure is that it shows investors are quite confident in the future prospects of the company, but the figures themselves say the stock is way overpriced for what the company is actually expected to earn?
What are all your views?
Cheers.
Sorry I'm newer to this than I bet most of you all are, but just wondering what everyones thoughts are on MMX's current P/E Ratio? It's at 140.65 at the moment which is quite astronomical when compared to the sector's average of 15.41 (as quoted by Comsec). Does this worry anyone who currently holds MMX?
My understanding of this figure is that it shows investors are quite confident in the future prospects of the company, but the figures themselves say the stock is way overpriced for what the company is actually expected to earn?
What are all your views?
Cheers.
prawn_86
Mod: Call me Dendrobranchiata
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Miller,
a PE ratio is based on current, not expected earnings.
So what the 140 is saying is that MMX currently have a very small cash inflow. Look at forward PE to see what it is anticipated to be when production is in full swing.
Also, companies with no cash inflow (ie explorers) will have a 0 PE ratio
a PE ratio is based on current, not expected earnings.
So what the 140 is saying is that MMX currently have a very small cash inflow. Look at forward PE to see what it is anticipated to be when production is in full swing.
Also, companies with no cash inflow (ie explorers) will have a 0 PE ratio
mmx has a solid ore body.. jack hils.. and is producing.. just needs infrastructure to produce faster.. the small cashflow from shipping ore by trucks is good for the company as the cashflow can be used to build infrastructure..
mmx is still very undervalued imo..
brokers are rating it at $7 conservatively.. see prev posts.
mmx is still very undervalued imo..
brokers are rating it at $7 conservatively.. see prev posts.
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The 64k question Thierry is "when on earth it is ever going to start approaching the $7 mark?"
Will it require the succesful aquisition of MIS, and what will happen if it doesn't?
Ever since the proposed takeover the SP has stagnated whereas MIS has soared.
I have been in and out of MMX (once with profit, once with a frustrating b/even) and am now going to wait until something is confirmed re the t/over, or hop back in when it strokes the $3 mark again during the next (mini) correction.
Believe me I do want it to hit $7 and I want to be there when it does, it's just frustrating in the meantime considering the growth & promise of the last 12 months.
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Does anyone have any thoughts or updates on the MIS takeover, or general thoughts on MMX at the moment?
It looks as tho this one is being well and truly sold down. I was toying with buying back in but am worried about the southerly direction it keeps heading.
It looks as tho this one is being well and truly sold down. I was toying with buying back in but am worried about the southerly direction it keeps heading.
MIS T/o - Can't see anything developing until sinosteel either makes there offer official or rudd governemt says no to sinosteel & effictively chinese T/o's.
MMX will wait till sinosteel makes a move. Looks like they have what there going to get in way of acceptances until they up there offer. Take up has been absimal.
IMO - Can't see share moving north until camelott settled or increased offer to MIS of note.
Other players like MGX have been resonably solid in these turbulant times. MIS as well but they have T/o offers so probably a bit amune. GWR prob similar to MIS.
GBG also getting smacked so hard to say where turn will come.
MMX did make announcement at end Dec hoping to address all these issues with positive results in the new year. But your & my idea of new year is now theres could be months a way who knows. Plus chameloot has lot to do with lawyers & courts now so could take a long time or short time depends on people MMX have no control over.
Hit 3.04 today & seemed to bounce back.
Plus are all investors back from holidays or playing waiting game with economy's.
Lets hope for a recovery v/soon.
http://business.smh.com.au/sinosteel-dithers-on-midwest/20080114-1lye.html
Checkout this report - All you interested in MIS T/O.
MIS - State only problem with MMX was offer price. There lawyers checking over chamelot to see if claim legit & if sinosteel dont hurry up & sign disclosure statement could be to late as MMX may then dictate terms. MMX & MIS directors to possibly catch up this week.
IMO - If chamelot has no basis in MIS eyes then T/O or Merger on the cards v/soon.
Seems like MIS has had there christmas lunch & is aloud out to play.
Checkout this report - All you interested in MIS T/O.
MIS - State only problem with MMX was offer price. There lawyers checking over chamelot to see if claim legit & if sinosteel dont hurry up & sign disclosure statement could be to late as MMX may then dictate terms. MMX & MIS directors to possibly catch up this week.
IMO - If chamelot has no basis in MIS eyes then T/O or Merger on the cards v/soon.
Seems like MIS has had there christmas lunch & is aloud out to play.
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I am hoping that the current market run will end and the current MMX price is at the lower end. Consequesntly I am back in at 2.81 and everything is crossed.
I was happy to hear that the MMX & MIS team have been having discussions and that Sinosteel is playing silly buggers with confidentiality clauses and "what-not".
Does anyone have anything to add or update on this saga?
I was happy to hear that the MMX & MIS team have been having discussions and that Sinosteel is playing silly buggers with confidentiality clauses and "what-not".
Does anyone have anything to add or update on this saga?
http://www.scmp.com/portal/site/SCM...RCRD&vgnextfmt=teaser&ss=Companies&s=Business
Midwest shareholder blocks Sinosteel deal
Negotiations follow demand for higher price
Tim LeeMaster and Carol Chan
Jan 21, 2008
Sinosteel's US$1.2 billion offer for Australian Midwest has been blocked by a major shareholder of Midwest seeking a higher price, leaving Sinosteel, which has picked up an about 4 per cent stake in Midwest in the open market, to look for ways around the problem, market sources said....
Midwest shareholder blocks Sinosteel deal
Negotiations follow demand for higher price
Tim LeeMaster and Carol Chan
Jan 21, 2008
Sinosteel's US$1.2 billion offer for Australian Midwest has been blocked by a major shareholder of Midwest seeking a higher price, leaving Sinosteel, which has picked up an about 4 per cent stake in Midwest in the open market, to look for ways around the problem, market sources said....
