MRE - Minara Resources
- Thread starter Gordon Gecko
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............in which case you might quite reasonably expect to have seen more than zero HCY shares traded today. 
Ed
Ed
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Agree Ed.eddievanhalen said:............in which case you might quite reasonably expect to have seen more than zero HCY shares traded today.
Ed
Petee is speculating here and although he may be right, my view is that it remains the "fundamentals" that will keep MRE trending north.
I am a big fan of unhedged producers, and MRE (as stated earlier) will be reaping massive profits on their current production.
Elsewhere noted, SMY is 60% hedged at $12k/tonne, ie about 40% of present prices received by Minara.
Although I hold both equities in large quantity, I have a partial sell order for my SMY shares and am looking at transferring the profits into MRE should nickel prices hold in coming weeks.
hmmm speculating maybe but we will see.. the MMI results will be very favourable and a second large long term nickel mine at bardoc will continue to bring a strong bottom line to Minara not to mention Halcyon which is only exploration status but will move to producer as well...all infrastructure is in place at bardoc to transport ore by rail to murrin murrin plant
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peteepetee said:
I mean "speculating" in the sense that whatever you know has not been made public.
I would love to hear more of what you know or what is rumoured.
Rumours seem to get a good run in a market driven world.
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Thanks peteepetee said:
I will, but don't forget to let us know if you hear more first, ok!
Ahhh, things become a little clearer. MRE's Friday action was probably because of this:
http://www.smh.com.au/news/Business/CVRD-bids-A23b-for-Canadas-Inco/2006/08/12/1154803131034.html
http://www.smh.com.au/news/Business/CVRD-bids-A23b-for-Canadas-Inco/2006/08/12/1154803131034.html
Realist
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$3.04 now, up 25% in less than a month.
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Let's go for 50% in 2 months!Realist said:$3.04 now, up 25% in less than a month.
12.5 cents dividend coming up - record date 8 September.
LME 3 month nickel tracking near $30k/tonne and continuing to rise.
Nickel's backwardation is holding over $4k and very little "new" metal is finding its way into warehouses: This tells us that high prices are here to stay for at least a fortnight.
But I only really came back to say that cobalt is the new black in metals.
Cobalt is up 50% in a month and moving rapidly higher by the week.
It's a thinly traded metal, in incredible demand, and in very short supply.
I anticipate cobalt will add at least $10m extra to MRE's bottom line in 2007 - it's not a lot, but I think it's also a conservative number that puts a few extra cents onto the next dividend.
Realist
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rederob said:
You are about right.
It is $3.46 now. It was $2.40 6 weeks ago.
It is up 44% and 12.5c dividends are a week away. wow!!
CanOz
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After today, it has produced a textbook Doji, which usually (but not always) results in a reversal of the current trend. So we can look for confirmation of that tomorrow and possibly a buying opportunity prior to the stock moving higher....i would be interested in any other technical perspectives on this....as well of course a comment from Realist.
Cheers,
Cheers,
Realist
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CanOz said:
Canuck, I bought MRE based on their low PER, the great financial situation, and they are a miner who pays good dividends.
They've more than exceeded my expectations, but quite simply they are still undervalued, and I suspect they will diversify and/or take over other companies.
They are still a BUY in my eyes based on their financial situation and excellent overperforming recent profits. However as they have soared so much so quickly they may fall down again before going up.
We'll wait and see....
Realist
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$3.72 now, my god it is up over 55% where I bought it.
Dividends to come.
Why is it up so much - nickle price alone?
Dividends to come.
Why is it up so much - nickle price alone?
Sean K
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Realist said:$3.72 now, my god it is up over 55% where I bought it.
Dividends to come.
Why is it up so much - nickle price alone?
Must be tempting to take some profits Realist? Can Nickle stay at all time highs for ever?
Realist
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kennas said:
True, but you know my philosophy, I'll hold.
A 60% gain now after tax and brokerage is a 29% gain in reality.
In 10 months time (I've owned 2 already) A 60% gain is a 45% gain after tax. And I get dividends over the year.
So if it drops 20% from here to this time next year and I hold I'm about equal to if I sold now. Of course it can go up more, so the benefits of holding are significant I feel.
The financial fundamentals of MRE are still incredibly strong, PE of 10. I have no idea about Nickle prices and don't really care which I know has you mining experts laughing. But I bought MRE cause it has alot of cash, makes huge profits and was significantly undervalued. I didn't really care what industry it was in to be honest. Which is not that silly as they have alot of cash chances are they'll be diversifying soon anyway. They can afford to buy other companies.
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Not entirely.Realist said:$3.72 now, my god it is up over 55% where I bought it.
Dividends to come.
Why is it up so much - nickle price alone?
MRE produce cobalt as well: Cobalt is up 30% over its month-ago price and I think it will go from $20 at present to near $30 by year's end based on market tight supply.
On the nickel front, high backwardation is eking out more inventory so stockpiles rose slightly overnight.
I suspect there is not a lot more "loose" nickel around as we have had a month of $4k backwardations.
All this tells us is that the move from excess demand to balance is going to take at least another month. Although any sharp resupply of metal into LME warehouses can spill spot prices from over $30k to near $20k in a matter of days.
Realist
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Thanks rederob,
You hold MRE, you'll continue to hold I take it?
I will....
You hold MRE, you'll continue to hold I take it?
I will....
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I had a sell order in at $3.75 from last week - wound it up to $3.95 after your morning post: I owe you realist!!!Realist said:Thanks rederob,
You hold MRE, you'll continue to hold I take it?
I will....
Just wound it up to $4.20 and might have to review that figure early next week at this rate.
Hard to believe this stock closed at $2.96 6 trading days ago.
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rederob said:
Not sure at the moment with MRE, way extended on my chart with MACD well extended and defying all the T/A. Momentum just going to neverland
Seems exactly like ZFX in March, just keeps on going up without taking a hit, leaving you wondering when to sell?.
