MRE - Minara Resources

[Miner]

I believe MRE has bottomed now .

Why : Look at Barclay's investment recently on average price of $3.2 or so
At least they are supposed to know more with research : Not universal true considering ANZ and NAB slump. Still considering on face value

I think Monday market will bounce back

Let us wait and see

 

[salpal]

Nickel has fallen again over night so I don't think there will too much change in the price for Minara shares for a while - Mincor also had a slump yesteday.

 

[Miner]

I believe MRE has bottomed now .

Why : Look at Barclay's investment recently on average price of $3.2 or so
At least they are supposed to know more with research : Not universal true considering ANZ and NAB slump. Still considering on face value

I think Monday market will bounce back

Let us wait and see

How wrong I was looking at MRE crash today at 10% and there are more sellers at teh end of day to sell at a lower price than the buyers are prepared to pay. Must be some bad news coming soon

 

[tulasi74]

I chose today of all days to start buying MRE. Oh boy! Bought at the open and kept buying up thinking they were a strong buy. Sold some at a loss at the end. Average cost still about 1.90 so hoping it will bounce back up soon.

 

[JTLP]

MRE fall = Nickel got smashed to lowest prices in a long time on Friday night.

Seems the old nickel can't take a trick at the moment...hence MRE's considerable downtrend.

 

[oldblue]

I chose today of all days to start buying MRE. Oh boy! Bought at the open and kept buying up thinking they were a strong buy. Sold some at a loss at the end. Average cost still about 1.90 so hoping it will bounce back up soon.

MRE has been in a consistent downtrend since early May. Definitely not a Buy yet in my book, however attractive the company may appear to be.

 

[McNovice]

Well I am still a novice, but since my first post on here a few months ago have been doing a lot of reading and research, especially into MRE as I bought a few at some high prices.

Best thing I have learnt and it has been enforced in this postings is DON'T buy on the downward spiral just thinking these prices can't get any lower. I thought that when I bought at $3.50 and $4.00. Call me a sucker but I do want to get some more of this share as I do think mid next year it may push the 5-6 figure. As mentioned Sulphur prices which they use to mine the Nickel is about 8 times the price it was last year. They expect these prices to drop next year and by December the Gas issues will have sorted them selves out.

I am still a complete Novice, but as said will wait for it to rise as I would prefer to but 5% higher than the bottom than 50% higher than the bottom when hoping it will stabilise.

Have also been using SMA charting on Yahoo interactive to give an indication when to get in.

1 thing I am looking for guys- Can anyone recommend good software for tracking your shares? I have just entered the amounts on an EXCEL sheet, but I'm not the best with EXCEL, so it's very basic.

As Paladin said something like- I am very happy to have found this forum, I have been given some very good tips and advice off folk here.

My portfolio is still very down since the Gas explosion, but I am confident it will come good in just over 6 months.

Call me McNovicehopeful

 

[So_Cynical]

How wrong I was looking at MRE crash today at 10% and there are more sellers at teh end of day to sell at a lower price than the buyers are prepared to pay. Must be some bad news coming soon

Ok so i wont even look at where MRE ended today.

Of all the stocks i was watching MRE is the 1 i brought and its the only one to fall.

 

[roland]

mmm, I am really having trouble here why anyone would consider buying into MRE - just look at the chart.....

Personally, I think, that unless your are knife catching, then MRE's trend line should tell all.

Why must we try and get the absolute bottom when the bottom is so uncertain?

 

[subaru69]

mmm, I am really having trouble here why anyone would consider buying into MRE - just look at the chart.....

Personally, I think, that unless your are knife catching, then MRE's trend line should tell all.

Why must we try and get the absolute bottom when the bottom is so uncertain?

I've watched the price dropping too, so I thought I should look up the fundamentals.

Nickel price has halved this year but has a P/E of ~4 and dividend of ~10% and compared to peers doing OK; so seems like IF it can find a bottom then MIGHT be good.

http://www.investsmart.com.au/company_profile/summary/default.asp?SecurityID=MRE&ExchangeID=ASX

Peer Comparison
P/E (x) EPS Change (%) Dividend Yield (%)
Company Code Last Price Mkt Cap 06A 07F 06A 07F 06A 07F
BHP Billiton Limited BHP $36.92 $208,007M 12.2361 7.7258 4.8539 58.3796 2.2075 3.4921
Rio Tinto RIO $113.80 $146,317M 10.8894 8.9751 54.9274 21.3286 2.2988 2.7832
Fortescue Metals FMG $8.10 $23,653M -43.8174 11.3606 n/a n/a 0.3086 2.6543
OZ Minerals Limited OZL $1.97 $6,524M 11.7224 6.1763 -12.4897 89.7977 4.0609 4.0609
Minara Resources MRE $1.93 $957M 4.6299 4.3064 -33.9245 7.5126 10.9091 11.6883

 

[roland]

I've watched the price dropping too, so I thought I should look up the fundamentals.

Nickel price has halved this year but has a P/E of ~4 and dividend of ~10% and compared to peers doing OK; so seems like IF it can find a bottom then MIGHT be good.

http://www.investsmart.com.au/company_profile/summary/default.asp?SecurityID=MRE&ExchangeID=ASX

Peer Comparison
P/E (x) EPS Change (%) Dividend Yield (%)
Company Code Last Price Mkt Cap 06A 07F 06A 07F 06A 07F
BHP Billiton Limited BHP $36.92 $208,007M 12.2361 7.7258 4.8539 58.3796 2.2075 3.4921
Rio Tinto RIO $113.80 $146,317M 10.8894 8.9751 54.9274 21.3286 2.2988 2.7832
Fortescue Metals FMG $8.10 $23,653M -43.8174 11.3606 n/a n/a 0.3086 2.6543
OZ Minerals Limited OZL $1.97 $6,524M 11.7224 6.1763 -12.4897 89.7977 4.0609 4.0609
Minara Resources MRE $1.93 $957M 4.6299 4.3064 -33.9245 7.5126 10.9091 11.6883

The problem is that the fundamentals are based on historic returns and SP values. I wouldn't read too much into the % dividend return since it is extrapolated from a higher SP value - i.e. the last dividend price as a percentage of a historic and much higher SP.

To preserve capital MRE may not even pay a dividend the next go around.

 

[nick2fish]

Peer Comparison
P/E (x) EPS Change (%) Dividend Yield (%)
Company Code Last Price Mkt Cap 06A 07F 06A 07F 06A 07F
BHP Billiton Limited BHP $36.92 $208,007M 12.2361 7.7258 4.8539 58.3796 2.2075 3.4921
Rio Tinto RIO $113.80 $146,317M 10.8894 8.9751 54.9274 21.3286 2.2988 2.7832
Fortescue Metals FMG $8.10 $23,653M -43.8174 11.3606 n/a n/a 0.3086 2.6543
OZ Minerals Limited OZL $1.97 $6,524M 11.7224 6.1763 -12.4897 89.7977 4.0609 4.0609
Minara Resources MRE $1.93 $957M 4.6299 4.3064 -33.9245 7.5126 10.9091 11.6883

All except FMG are diversified miners and FMG is selling the flavour of the month/year. Perhaps a better comparison would be looking at other sole nickel producing companies such as IGO or MCR.
IGO has dropped 64% since FEB and still tanking

 

[So_Cynical]

mmm, I am really having trouble here why anyone would consider buying into MRE - just look at the chart.....

Personally, I think, that unless your are knife catching, then MRE's trend line should tell all.

Why must we try and get the absolute bottom when the bottom is so uncertain?

And i can post 4 charts that look similar and yet they all bounced.

Why is the MRE bottom so uncertain..im certain we are alot closer to the bottom now than we are to the old top.

 

[jman2007]

Murrin Murrin laid off about 400 people on or about the 18th of July. They were mostly contractors, and two charter flights were arranged to fly them out almost immediately. This probably corresponds to the MRE release on the 18th re scaled back operations due to gas supply constraints and the potential difficulty(?) in ordering in sufficient quantities of sulfur.

Beyond this I'm unsure what's happening up there atm, although they sound confident in returning to full production after securing addtional gas supplies.

jman

 

[Miner]

thanks folks for your recent touch on MRE. Probably we have to wait and see and as Alan Kohler said in Eureka report that it is market for bears. One needs high cash volume to make the right killing - who gets killed who bought the overpriced shares like me

In compare shares this mob after few glasses of 40% scotch wrote this

"STEVEN HING
NOVUS CAPITALBUY RECOMMENDATION

Minara Resources (MRE)

The nickel miner has fallen from $6.57 in March to around $2 on July 25. It appears to have been over-sold in the current market despite the switch away from resources in recent weeks. The moving averages on the chart suggest a potential bottoming out, with a move back to $4 a strong possibility."

Bottomed out - when ? I am sure tomorrow the same mob will write another article in his magazine MRE Hold and then after 6 months depending on how market is going he will have head he wins, tail you loose = I TOLD YOU

Any way, probably I am dishing out my frustration thinking I made a killing in MRE Ha Ha .

 

[tech/a]

Talusi has requested this wave count from another thread.

This is an AGET or Algorithmic count.
While it doesnt conform to a classic count it certainly shows this is in a long term bear trend.
I agree difficult to count--there would be many variations.
Even so correctness of count isnt as important as where the stock is in this move.

 

[Miner]

Talusi has requested this wave count from another thread.

This is an AGET or Algorithmic count.
While it doesnt conform to a classic count it certainly shows this is in a long term bear trend.
I agree difficult to count--there would be many variations.
Even so correctness of count isnt as important as where the stock is in this move.

HI Tech A
Thanks for posting it

Could you please enlighten the chart so that non chartists like me probably understand what are you trying to convey ?

Are you saying MRE will fall further - Gosh it (and my investment in shares and super) is only following Newton''s law of moment of intertia then

 

[eskimo2708]

Hey Miner,

Thanks for your posting.
I assume you are a guru and get none of your trades wrong.
Whilst the price has gone down since I posted the particular recommendation on compare shares, I still think that the company has something.
I am happy to be proved wrong, but I am also happy to stick my neck on the chopping block.
I gave no timeframes on compare shares and i am not asked to.In the current market volatility you are right for about 5 minutes. I am sure that even you would not have predicted the banks to fall this sharply and would have tried to have picked the bottom at much higher levels.
Good luck making money, but next time keep the criticisms to yourself.

 

[Sean K]

Hey Miner,

Thanks for your posting.
I assume you are a guru and get none of your trades wrong.
Whilst the price has gone down since I posted the particular recommendation on compare shares, I still think that the company has something.
I am happy to be proved wrong, but I am also happy to stick my neck on the chopping block.
I gave no timeframes on compare shares and i am not asked to.In the current market volatility you are right for about 5 minutes. I am sure that even you would not have predicted the banks to fall this sharply and would have tried to have picked the bottom at much higher levels.
Good luck making money, but next time keep the criticisms to yourself.

Criticism is part of the game here when it's fair and warranted. Miner may have been venting some frustration, but if you get something wrong you have to accept it, or return fire with your justification.

Anyone who makes a call puts their reputation on the line.

If you can't accept that, then don't make any recommendations.

If it turns around at some point, you can say I told you so.

Hard to call a true bottom on a lot of stocks but technically this is hitting some very long term support. But S&R hasn't helped a lot of stocks recently.

 

[Miner]

Hey Miner,

Thanks for your posting.
I assume you are a guru and get none of your trades wrong.
Whilst the price has gone down since I posted the particular recommendation on compare shares, I still think that the company has something.
I am happy to be proved wrong, but I am also happy to stick my neck on the chopping block.
I gave no timeframes on compare shares and i am not asked to.In the current market volatility you are right for about 5 minutes. I am sure that even you would not have predicted the banks to fall this sharply and would have tried to have picked the bottom at much higher levels.
Good luck making money, but next time keep the criticisms to yourself.

Hi Eskimo

First of all I am not a guru in finance and never can be. I do have lot of deficiencies and lot to learn. Honestly I am learning as fast I can from this forum and own research. I respect most of the postings from many knowledgable personalities like Hangseng, YT, Jman, Kennas, Grace, MS, and many more.

I have been more wrong in my speculations than right so still in RED in my portfolio.

So with this back ground I can not criticise any one because I am not competent to pretend as an expert with my shallow knowledge in stock market and security analysis. So I am unsure how you picked up that I was criticising some one.


What Kennas has rightly said I was trying to vent my frustration on myself.

Truly after having invested on MRE twice at $2.82 and then $2.50 thinking it was very cheap to see the SP is going south indefinitely. I personally thought MRE was good and still think so. But there is no market support and it is okay in this game.

This is a forum shared by people of different knowledge base and that is acceptable (by me at least).

I do however try to post common sense knowledge and information available from public forums to share with others considering I have worked in gold, iron ore, alumina, steel and coal for a large number of years with some of the big producers and consultants. At least by doing that I do not become a passive participant making this forum one way traffic.

I hope to have explained my stand clearly and let us move on doing business.