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MRX - Matrix Metals

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Can't believe no one has started talking about this stock again. Closed at 11 cents yesturday and 11.5 cents today. A typical ascending triangle at a break of 11 cents. My target is 15 cents and a possible 18 cents at a furher darvas break of 13 cents. OBV looks good, and the fundamentals are excellent as this company actualy makes money. I was wondering if any one has a valuation on the company based on the minerals they have in production.
kind regards
angelo
 

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They would seem to be well positioned to take advantage of the current cooper price with a production stream coming on.
 
Bought a parcel of these in early september last year. With the Leichardt mine production now underway hopefully my patience will be rewarded.
 
Surprised that no one has been talking about this one. Up again today on awesome volume, ticked over 0.13 cents to 0.135.
 
The Buy side on this stock is very strong indeed, and atm there is alot of seller resistance at the 13.5c level, will be intereesting to see how this all pans out, It looks like in the long run however due to good fundatmentals (Have a read of some recent comapny announcements) this stock will go up.

Im wondering if right now is a good chance to jump on and hope that the SP in the next few days continues to jump higher to at least 15c or wait a week or 2 for this stock to cool down back to around 10-10.5c, god knows i wish id jumped on, only 1 week ago ! oh well cest la vie

Aaron.
 
It probably will come down a little as it did today, but I would be surprised if it came down to the 10-10.5 cent range again. It would seem that with this stock there is a small downside risk with a strong short to medium term upside and a potential for a very large gains due to expoloration potential.
 
Second highest volume on entire ASX today. SP rose significantly on a bad day. The chart looks great. Production is not even in full swing yet!
 
You little beauty!

I have been expecting this stock to start climbing. Copper is rumoured by many to be the next to benefit from the resources boom and I bought MRX with this in mind. I think today's favourable announcement combined with the stirring interest in copper stocks will now start to push MRX along.

One of the reasons I selected MRX over other copper companies was that I saw room for upward movement. This is a company which is both producing and selling with a healthy base for growth. When you compare it some of the other copper producers who have already experienced rapid growth (in share price), it looked to me to be one I could buy and enjoy the upcoming ride. If you look at the charts for copper companies EQN, ABY, CUO, AVM and SRL, they have all experienced significant gains. In my opinion, MRX has slipped under the radar and will enjoy similar gains in the near future.
 
watsonc said:
Second highest volume on entire ASX today. SP rose significantly on a bad day. The chart looks great. Production is not even in full swing yet!
Click to expand...

I am kicking myself over this one. Sold at 10.5 last month because I was abit short of cash and I thought that MRX was the least likely out of my portfolio to do anything in the short term... oh well, atleast it wasn't a loss.

Congratulations to the holders... please don't gloat too loudly
 
Not much movement since... Last announcement may have DYL buying more rights, which in turn could have Matrix in a position to double it's processing capacity by utilising those funds ($3 mil if it happens)
 
That's a bit better, I wondered how long it would be until people started to see the value. I guesss todays report added to the spec value in DYLs ann a few days ago...
 
Scuba said:
That's a bit better, I wondered how long it would be until people started to see the value. I guesss todays report added to the spec value in DYLs ann a few days ago...
Click to expand...

Do you know what the expected mine life of this one is?

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -2.7 2.0 3.3 --
DPS 0.0 0.0 0.0 --

thx

MS
 
They have a number of tenements which they are working. DYL have farmed in as have XStrata into some of those. If you are referring to Leichart specifically then maybe have a quick look at their website matrixmetals
 
I see someone reported on another forum that there is a "Quarterly report due out at latest on Wednesday". If that's true then does that mean that today's highs, lows and volume could suggest the report is OK but not brilliant (as the post which followed) said?

Trading the rumour?
 
Comments all but dried up here. I still have this stock, whats the feeling going forward? I have held them for a while and messed up my stop loss when they were up at 17 or so! DOH!
 
Hmmmm Trading Halt. I suspect nothing great, maybe just results from AGM.

Any thoughts on this one?
 
watsonc said:
Hmmmm Trading Halt. I suspect nothing great, maybe just results from AGM.

Any thoughts on this one?
Click to expand...

At present there are quite a few things happening with this company. Hartley's valuation is 0.20 - 0.29 cents per share - double what it has been trading at for some time. The report is a good start http://www.matrixmetals.com.au/research_frame.html

Some current happenings ...

Current study to almost double production at Leichhardt.

Current study to drill/assess Mount Watson Ore body with aim to extend life of the project.

Two JVs with Deep Yellow and Xstrata. Encouraging uranium samples from DYL. Xstrata drilling in coming quarter.

Several new targets with 100% MRX interest at Prospector – sulphide copper, iron oxide copper gold.

Last trade was 0.12. Some small buy orders filtering in up to 0.18. We'll see on Monday. Fingers crossed!
 
It was very much a surprise to see Hartleys research and pricing to go by un-noticed cmh888, but maybe that is a result of the sub-prime/U.S jitters... Last time Hartleys revalued MRX, it was %33 over their valuation (around 20c when H's valued at 15c) within the month... High around 25th July if I remember correctly(?)
As you might see by the number of times I've posted, I am still holding and would love to see this one travel well for the holders, I was very happy they let go of the Uranium part of the prospect and stuck to what they knew...
 
Yes, I agree. I would have expected the Hartley's valuation to push the sp along.

Good announcement today confirming immediate increase in production at Leichhardt to almost double current production. Came with the release of more shares, but proportionately fine - the value of the increase in production far outweighs the dilution/impact the new shares issue will have.

So happy days ahead I hope ???
 
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