MRE - Minara Resources

[roofa]

And at 30 odd cents a share at the minute i would say it's got to be worth a punt! [/QUOTE]

Yes Swanny,

I'm with you in regards to the punt, any feel for Glencores 70% stake in the company? Will they want 100%?
Monday trade will be intereting to watch after the rise in commodity price.

 

[roofa]

Up 10% in early trade, fair volume traded. More than 2x buyer v sellers so may stay on the up for a little bit.

 

[Swanny2705]

Minara's CEO has said that Glencore has backed Minara above and beyond what could be reasonably expected, so they may well make a move to take over in the future. I certainly can't see them pulling out after supporting them thus far.
This will be of little consolation to those who bought in at several dollars a share but for those looking to buy in now they could be onto a bargain.

From what I hear, the plant up at Murrin Murrin has been ticking over nicely for the last month or two and costs alone are down by several million dollars a month.

Also, unlike BHP at Ravensthorpe they refine and package the nickel briquettes in-house whereas ( correct me if I'm wrong ) I believe BHP ship the unrefined nickel to Queensland to be processed. That along with all the other teething problems has BHP only dreaming of producing a tonne of nickel at the price Minara does.

 

[roofa]

Thanks for the update Swanny,

I liked what I read about Glencore with its hands on approach when I did a little research of Minara.

I got a couple of parcels in the last week of November with a medium - long term view. Nickel price up by 40 odd % so I assume this may be what is pushing the price up along with inventory starting to lower in China.

Stock looks to open at least 5% higher again this morning.

 

[kirtdog]

would you still consider it a good punt at 0.4?? i do not see how it could go from $90 to 40 cents was there a split or something????? just looking for an easy answer but will do my own research..

 

[roofa]

would you still consider it a good punt at 0.4?? i do not see how it could go from $90 to 40 cents was there a split or something????? just looking for an easy answer but will do my own research..

Too my knowledge is has had a high of $6-7 in the last 52 weeks.

If the damand for product comes through then they could earn 7-8 cents per share based on new total of shares, 700mil new shares have been added.

 

[kirtdog]

ohk thanks mate i just read a bit of the thread just then... well all ive looked at is what minara looks like on paper and with 156 mil cash, no long term debt and a previous year high of $9, I dont see how a company with a SP of $9 A year ago can stay at 30 cents.. I will definately watch this one for the punt..

 

[So_Cynical]

i do not see how it could go from $90 to 40 cents was there a split or something?????
just looking for an easy answer but will do my own research..

Minara started life as the Infamous Anaconda nickel...here's a little history.

http://www.smh.com.au/articles/2003/09/18/1063625155101.html

Anaconda Nickel is seeking to put its 2002-03 annus horribilus behind with moves
to change its name and consolidate its massive number of shares on issue.

The Perth nickel miner is looking to rename the company Minara Resources and would
also be seeking shareholder approval for a 15-to-one share consolidation.

Such a consolidation will reduce the number of shares on issue to 461.5 million from
almost seven billion.

 

[roofa]

Minara started life as the Infamous Anaconda nickel...here's a little history.

http://www.smh.com.au/articles/2003/09/18/1063625155101.html

Thanks for that info, I remember anaconda, certainly a lot different today.
Was Glencore involved with anaconda do you know?

 

[roofa]

Also, unlike BHP at Ravensthorpe they refine and package the nickel briquettes in-house whereas ( correct me if I'm wrong ) I believe BHP ship the unrefined nickel to Queensland to be processed. That along with all the other teething problems has BHP only dreaming of producing a tonne of nickel at the price Minara does.

Well done Swanny, todays announcement by BHP with regards to Ravensthorpe backs up your last post. I wonder if that also helped Minara up 15% today?

 

[So_Cynical]

Well done Swanny, todays announcement by BHP with regards to Ravensthorpe backs up your last post. I wonder if that also helped Minara up 15% today?

That was a big part of it im sure...also the PON holding up well, im quessing that
the Ravensthorpe closure would represent a 1 or 2 % reduction in global production.

 

[roofa]

That was a big part of it im sure...also the PON holding up well, im quessing that
the Ravensthorpe closure would represent a 1 or 2 % reduction in global production.

What is the PON? Program on Negotiation? Plus Over Normal (marketing/promotion) Purchase Order Number? (needed to add the rest to make the 100.

 

[JTLP]

Price Of Nickel.

MRE up down and around like the rest of them...when is this bloody market going to bottom...

DNH

 

[So_Cynical]

Price Of Nickel.

MRE up down and around like the rest of them...when is this bloody market going to bottom...

DNH

In a couple of months i feel we will look back and see that many stocks have
bottomed....the ones that survive and come out the other side of this, will be
dominant and in a very strong position going forward.

 

[J.B.Nimble]

That was a big part of it im sure...also the PON holding up well, im quessing that
the Ravensthorpe closure would represent a 1 or 2 % reduction in global production.

That would be about right - 1,660,000T estimated global mine production in 2007. Ravensthorpe estimated to be running at 35% of 50,000t/yr capacity several months ago. Nett impact - more than 1, less than 2...

 

[McNovice]

Is there light at the end of this Nickel tunnel?

It's been quiet on here for some time guys. I think the share price today fell below the share issue price for the first time since the share issue. I also noticed that the damn Nickel wharehouse levels seem to be at a record high I had already decided to sit back and wait, but can anyone provide any positives on this share or is it all doom and gloom?

 

[oldblue]

If you're not holding MRE but looking at nickel I reckon MCR are a better prospect.
Have a look at the Open Briefing on their website.
Still cash positive, even at current Ni prices, and ready to step up production when conditions improve.


Disc: Holding MCR.

 

[enigmatic]

Hey I have been doing some research on the Fundies of this Share and have yet to see anything which would indicate the share price will reverse anytime soon...

with a Total share holder avg return of -20% for the last 10 years
and current earnings per share in the Negative and staying in the negative till atleast 2011 at the current prices.

What plus side does this stock have which would improve the current dissmal share price

Check MCR out aswell OldBlue not bad just not in my risk\reward profile.

 

[So_Cynical]

Hey I have been doing some research on the Fundies of this Share and have yet to see anything which would indicate the share price will reverse anytime soon...

Fundies - shmundies :sheep:

If the PON don't get back above 11K nothings going anywhere.

MRE still have heaps of cash to burn before they go under.

 

[roofa]

In the Herald Sun on Sunday 22nd one of the so called “expert” brokers recommendation was to sell MRE.
Price was 29.5 cents, 1 week later closed at .42, currently at .47.
Any-one got this guy number as I wouldn’t mind a few more tips?