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In reply to: Jay on Monday 09/06/08 08:25pm

Some nice bullish candles on 6-6 and 11-6, with good volume.

 

Chart looks very much like a short or medium term bounce.

 

With 10% divi at this share price level, it is very attractive.

 

The Inside Trader is recommending it.

 

Also, it was in the top 10 most actively traded stocks this week.

 

"After a significant sell off due to the impact of the WA gas outage, traders got on the front foot and bought the stock after BHPÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s move to shut down one of its Nickel plants." Comments by Anthony Anderson, Senior CFD broker.

 

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So Minara are going to submit an insurance claim as a result of the recent gas shortage in WA. Wonder how many other insustries will do the same and as a result I wonder if the insurance companies will raise their premiums on the average person. Won't be long now to see the knee jerk reaction I bet. http://www.sharescene.com/html/emoticons/thumbdown.gif

 

 

Wags

 

 

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In reply to: mogul on Monday 07/07/08 09:20pm

Looking this morning too, Etrade has a $4.85 valuation on the stock even after all of the WA gas events. You would think that Glencore are a possibility to launch a bid for the remaining shares if it stays around these levels too...

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QUOTE (mogul @ Tuesday 08/07/08 10:14am)

Current PE probbably does not reflect loss of earnings - Forward PE would be a better guide. However, the chart does not lie and is showing what it is worth today. Not for me.

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Guest mogul

In reply to: Nkosi on Tuesday 08/07/08 11:10am

The way I see it, less than a full month of actual production was lost, so at the most would dilute previous PE by only 8.33%, which is still @5. @ current prices.

However, there seems to be some pretty determined selling across the board on quality stocks.

Some so called investment company must be marginalised...

Compare MRE.s PE to say AWC, which has also fallen by more than 36% from recent levels of $6.45+,

I know which I'd rather own/buy.

 

 

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In reply to: mogul on Tuesday 08/07/08 10:26pm

The trouble is with the plunging nickel price & the high price of sulphur, analysts are now predicting MRE will only make $50 million in the current year 08/09 so they're actually on a forward P/E of over 20.

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