Heres a great phrase reported in todays AFR
IGO CEO Peter Bradford
"if you want quality you have to pay....if you want to transact youre better off doing that at the low point of the cycle".
Now we hear today that chinese buyers are circling FMG with FIRB applications to buy cheap shares following in Hunan Valin "best ever" move into cheap FMG stock years ago.
So for MBN, this is the low point of the cycle and MBNs quality will have to be paid up for sooner or later. At $120M MC its very cheap right now. With value buyers circling many prey right now, MBN may be a target.
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