NP UP
MCR DOWN, yep, same pattern since mid April
a red flag
means market doesnt believe the story of higher production, higher margins or lower capex but expecting capex blowouts, production crimping and more delays on top of the other prior delays.
When you have to get $100M for a staff camp built and have NO MILL of your own totally dependent on BHP for ALL revenue at exorbitant tolling rates, the INSTOs and SHORTs will be all over you here.
Where it bottoms is the issue now, my call 100-120-140 SPOT on already at 135,
may be there soon again.
rounding top pattern completes at 120c, thats the SHORTS target imho.
Shoulda taken the money toombs, like I told ya at 200-260.
Now its SHORTING heaven and knife catch hunting whilst fighting with UBSs daily $500k sells.
MCR Price at posting:
$1.50 Sentiment: Sell Disclosure: Not Held
