This is a screaming buy. The companies profit making business is being valued at approx $210M(310M - 100M cash) Crazy. At these prices MCR is making money. They could easily make 30-40million over the year which would give its business a P/E of 6.
I know that LME stock piles are still high, however as the global economy begins to grow over the next several years -----the stockpiles will dwindle quickly.
This curtailment in lending (china) is but another temporary glitch and won't affect the longterm growth of the country or its demand for our resources.
put my money where my mouth is and topped up today. Will add again tomorrow.
MCR should pay a dividend too.
take this latest correction as a great buying opportunity.
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