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MRU - Mantra Resources

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I thought that it was absolutely amazing that they were able to raise $7m+ at 80c, thats just unbelievable,

If you look at the chart the share price had only been tradinG above 80c for 7 DAYS! AND YET THEY WERE ABLE TO DO A PLACEMENT AT 80c :eek:

Instos love this stock, I don't know why but they do, they really really do, It won't hang around 80c for too long and now 80c will be the lowest price floor, I'd expect any selling at or near 80c to be mopped up quickly.

How far can this baby run?
 
I know and yet Insto AGP was buying up to 50c,

Then JP Morgan started buying from 50c up to 80c level

Now a placement at 80c!

I can't believe I didn't buy more options on the open they were only 8c :banghead:

But I bought some more on Friday at 65c, better late than never :eek:
 
YOUNG_TRADER said:
Having now well and truly broken out from 74c, this will provide support,

It appears that 90c will act as the new SHORT TERM resistance

So expcet to see 74c - 90c channel

Once 90c broken and confirmed will form support before moving higher,

I don't get why the Insto's love MRU so much, do they know something I don't?

Anyway will be interesting to see if JP Morgan have still been buying at these levels ie 85c-90c, if so :eek:
Click to expand...


74c - 90c channel Break Out!

Now 90c will become support as every previous resistance level has done so before it,

I reckon 90c - $1 channel, judging by previos channel timing may only take 1 week to break upward from

I just can't believe how hard this one has run, just like BMN which is loved backed and practically owned by Macquarie, when the Insto's get behind a U play, watch out!
 
YOUNG_TRADER said:
I just can't believe how hard this one has run, just like BMN which is loved backed and practically owned by Macquarie, when the Insto's get behind a U play, watch out!
Click to expand...


I wonder how long $1 will hold as cap?
 
It may just be me, but it seems as if someone is trying to Cap MRU at $1 to encourage selling

I don't believe that the 100,000 order at $1 and 250,000 at 98.5c are genuine,

If someone genuinely wanted to get out at those levels they'd have an off screen open order for that total volume, with only say 25k on screen

Looks much more like capping orders to me, guess stock was just running away way to fast!
 
YT do you think it is being done for a reason ie to allow an entry before release of news or is there some other reason to do this
 
alankew said:
YT do you think it is being done for a reason ie to allow an entry before release of news or is there some other reason to do this
Click to expand...

Gives the Insto's who HAVE been buying this stock up crazily a chance to do some more buying without paying 20% more each week, can't imagine Cap lasting for too long 2 weeks max
 
There is some huge accumulating going on at 85c, has to be an Insto buying in $300k + chunks,

They've done well to cap it and accumulate, hats off to them
 
I'm waiting for a "Change in substantial holding notice"

To see who has been manipulating the SP to acquire more shares, my gut tells me its JP Morgan and I doubt its AGP as they have done most if not all of their buying, I'd love it if itwas a 3rd new Insto say UBS or Goldmansachs or even Macquarie, 3 Insto's supporting a company are better than 2, will have to wait and see :)
 
Well looks like the Insto capping/accumulation is almost over,

Watch for a surge over $1 for a continuation of uptrend, once over $1 I expect a NTU type run
 
As YT said looks loike one to watch,options up 9%.Solid foundation at 80c for heads due to recent placing to institutional investors based in London.Projects are based in Tanzania so no Aussie goverment issues to overcome.
 
Pretty impressive chart for something that hasn't dug a hole yet? Or have they some results to release?
 

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Hm..

Sellers are drying up on this one. Looks like this stock could break through the $1 mark very soon. Hopefully tomorrow!

From Kenna's chart we see the MACD just turned up today which is a great sign. but how far can we expect this one to go??

Here is the selling side that is visibe.. the highest is only $1.05 cents

Price Quantity Number
0.975 2427 1
0.985 10000 1
0.990 49413 2
1.000 50000 1
1.050 19000 1

However we do have a big gap in the buyers side we need that to be filled up to make a strong base for this share.. we might see some profit taking at $1.05 before seeing this baby shooting off again. This is only what i feel will happen, please dont take it for advice as always do your own research.

What does everyone think about this one?

Hypnotic
 
YOUNG_TRADER said:
I'm waiting for a "Change in substantial holding notice"

To see who has been manipulating the SP to acquire more shares, my gut tells me its JP Morgan and I doubt its AGP as they have done most if not all of their buying, I'd love it if itwas a 3rd new Insto say UBS or Goldmansachs or even Macquarie, 3 Insto's supporting a company are better than 2, will have to wait and see :)
Click to expand...

Sometimes I scare myself (re timing), at 12.45pm today I posted it looked like the Insto was finished capping/accumulating, I also posted earlier this would be accompanied by a change in substantial holding notice,

Well it looks like the Insto is a London/Euro based on FirstRand Ireland who have bought 1.7m@ 80c-90c = 5% of the company


Insto Registry so far
Anglo Pacific Group 5.8m = 18.13%
JPMorgan Chase 2m = 6%
FirstRand Ireland 1.7m = 5%


OMC didn't keep much if any of MRU spin-off,
 
I got in at 85c YT. The Institutional interest in the stock makes it an attractive play.

So what are we in for in the short term???

Benwex
 

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