MRE - Minara Resources

[prana]

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?

Totally, I picked some up at 35c. If you get more SELL recommendations, let me know too please.

 

[roofa]

Totally, I picked some up at 35c. If you get more SELL recommendations, let me know too please.

You should be fairly happy with your entry price, MRE up another 35% today.

VBA was another in last week-ends edition as a sell recommendation at 26.5 cents, finished the week up 25%.

 

[prana]

Cheers, hope you had some too - yeah pretty happy but as always I like to know the reason for the upside as opposed to just being up - can't celebrate until the eggs hatch, and still have not found a reason yet to exit. Maybe when the mob at the Herald say to buy, it will be time :

 

[roofa]

Yeh Prana,

Back in late November for 30 cents. I wouldn't mind knowing myself why the reasonably high volume the last 3 days.

 

[Family_Guy]

I should start a new thread of stocks i should have held. Got this in the late 20's i think just a week ago, maybe 2. Sold at 40c. I SO hate that. And no reason why at all, just heaps of volume and lots of buyers and no info from the company. Insiders???

 

[roofa]

Nothing wrong with taking a 35% profit if your a trader, I'm looking to hold for the longer term with a view to dividends.

 

[prana]

Not sure, I get the feeling it may be a move against the big guns BHP. Last time, they announced the closure of their nickel mine, MRE rallied I am guessing from the supply side fundamentals affecting prices. Today again, the same news that BHP was under investigation against their nickel facilities sackings and a sharp rise. Supply side story? I don't know, just taking a poke.

 

[CanOz]

Nothing wrong with taking a 35% profit if your a trader, I'm looking to hold for the longer term with a view to dividends.

OR you can trail a stop behind and try to stay with it as long as possible. Thats what trailing stops are for guys.

CanOz

 

[Matty D]

with Glencore's input last year, the gas explosion sorted out, sulphur prices returning to reasonable levels, minara's restructuring, BHP mothballing their plant, maybe they have turned this thing around.

I know there was talk a while ago whether they were making any profit at all, but it seems alot of things have changed and investors are maybe just now realising that 30c doesn't justify the true value.

I originally bought in at 6.40 then averaged down at 1.50 and finally 30c with an average of 80c.... And I wasn't the only one buying at these prices.

The only downside i can see at this point is the price of nickel, and its general over supply.

I am interested to see how it performs over this reporting season and whether i can get back in the green. looking good at the moment tho.

 

[McNovice]

I basically bought at same price as you Matty and have averaged down, not quite as good as yourself and am just over a $1.

My biggest worry is also the stock levels, which is 10 times more than what they were 2 years ago. They had a big early start again this morning and was at 22% at one point, are back at around 6% at the mo.

Fingers crossed it keeps recovering

 

[roofa]

I basically bought at same price as you Matty and have averaged down, not quite as good as yourself and am just over a $1.

My biggest worry is also the stock levels, which is 10 times more than what they were 2 years ago. They had a big early start again this morning and was at 22% at one point, are back at around 6% at the mo.

Fingers crossed it keeps recovering

What's your plan, get out if it gets back to what it owes you or are you in for the longer term and hopefully a return to dividends down the track?

 

[McNovice]

What's your plan, get out if it gets back to what it owes you or are you in for the longer term and hopefully a return to dividends down the track?

Hi roofa,

I am in for the longer term, I believe this can get back to somewhere near it's old prices when Nickel starts to rise and stock levels fall. I have set myself about an 18 month wait.

Maybe being the Novice I am I should jump out when I get my money back, but if it does get anywhere near last years prices, it would be a nice return.

 

[roofa]

Hi roofa,

I am in for the longer term, I believe this can get back to somewhere near it's old prices when Nickel starts to rise and stock levels fall. I have set myself about an 18 month wait.

Maybe being the Novice I am I should jump out when I get my money back, but if it does get anywhere near last years prices, it would be a nice return.

I’m with you Mac, but might be a little optimistic with a return to previous SP highs.
I think we should be fairly happy if it got back to anywhere near 35-40% of it over the next few of years.

 

[roofa]

Response to a speeding ticket and bang, down we go.
Wouldn't be to happy if you paid todays high of .78, SP just hit .56 a minute ago.

 

[prana]

yeah this is why I rather not celebrate before understanding what is behind the price rise. Kinda like counting chickens before they hatch, but I'm definitely long Nickel prices for the long haul so will need to look pass these bumps. Speeding ticket again? There may be a lot more to come in the resource sector.

 

[So_Cynical]

I originally bought in at 6.40 then averaged down at 1.50 and finally 30c with an average of 80c.... And I wasn't the only one buying at these prices.

For me it was

• $2.53
• $0.83
• $0.30

I really just need to forget i have this holding and come back in 12 months.

 

[CanOz]

Response to a speeding ticket and bang, down we go.
Wouldn't be to happy if you paid todays high of .78, SP just hit .56 a minute ago.

This is one i should have sold at the high today when the volume was rocketing up with the price....doh!

As it is i'll stick to the plan move the stop back to BE and see what happens.

I think i actually held this back in 2006 sometime??? Quite happy to have had a short love affair with it back then.

Cheers,


CanOz

 

[So_Cynical]

I took a bit of an average down today @ 83 cents...and thus lowered my
average cost per share by about 40%...there's just so much value around.

MRE trading above 90 cents today for the first time since October 08...and Jesus H Christ
its good to be in (partial) profit at last....who says averaging down don't work.
a few more months of this and my whole MRE position will be positive. :alcohol:

 

[So_Cynical]

MRE trading above 90 cents today for the first time since October 08...and Jesus H Christ
its good to be in (partial) profit at last....who says averaging down don't work.
a few more months of this and my whole MRE position will be positive. :alcohol:

Well 7 months later and the MRE SP is back down around 81 cents i reckon it cant last, according to there quarterly report released today, MRE have achieved record levels of production in both Nickel and Cobalt, and are sitting on 247 million in cash, up from 202 million last quarter...so there cash positive approximately 15 million per month.

http://www.minara.com.au/files/docs/252_December_Quarterly_2009.pdf

How long till we get a dividend and the share price gets a healthy re-rating. :dunno: a lousy 3 cent dividend would only cost them around 35 mill.

 

[wintermute]

oooo that's the sort of situation that got me into MRE originally... time to do some digging me thinks... I originally bought in at $2.55 sold half at $5.25 and the rest at $6.27. Haven't really looked at it since as I didn't think that the nickel situation had improved... If things look good, buying before the yearly report comes out might be a wise move...

Only damper for me at the moment is I'm worried we are headed for a correction.

Tony.