Below is from Intelligent Investor April update. Now chairman has been appointed and looks like no CR and onslow progressing well. If all goes well at onslow share price may double from here.
Company updates Mineral Resources’ quarterly operational update triggered some short covering as it confirmed it wasn’t considering a capital raising. Its highly publicized Mt Onslow haul road has handled around 40k deliveries, and its final transhipper is imminent. If the company can avoid a capital raising over the next four months as it announces a new chair, increases iron ore deliveries from Mt Onslow to 35mmt and begins reducing debt, the stock could increase three to four times. The situation is reminiscent of Fortescue a decade ago, though it didn’t have the luxury of assets to sell that MinRes does.
MIN Price at posting:
$24.08 Sentiment: Buy Disclosure: Held
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