Good macro indicators for MCP and recent announcement shows good times ahead for MCP with (IMO, based on recent announcement) minimum 41.6c per share earnings for FY10.
Ocker, the way I see it is that PPT sold large holding down to 30c a few months ago, of which Grandelodge bought a truckload. Grandelodge then realised a good proportion of this for a ST profit just weeks later selling large parcels back to PPT at around $1 mark. PPT is now selling this stake, again on market, and taking profit at around the $1.70 mark.
Once all trading is out of the way, I agree that it will continue onwards and upwards. Simply because of great ~6-fold increase I am now well and truly over-weight in MCP but loath to sell...
Cheers John
MCP Price at posting:
$1.73 Sentiment: Hold Disclosure: Held
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