a nice start to the day opens at 2.5 rises to 2.7buy side is...

a nice start to the day opens at 2.5 rises to 2.7
buy side is strong sell side is weak 90.9 K v 25.9 k
small retraces as normally expected
Brokers recognising that MMI is undervalued...
Guinea coup has de stabilised bauxite and iron ore supplies from Guinea.

African alliance of Nations threatening a boycot of Guinea.
The situation is in flux and like most coups there will be longer term disruption to their economy.....
I'd expect considerable disrupion in the near term with considerable resistance to come...
The bauxite deposis are in the west of Guinea ,not near sea ports,this will enable opposing factions to block all exports....

This has also opened the doors for terrorists to infiltrate Guinea...so expect more trouble in the country.

Investing is any African state is always fraught with severe soverign risk..
corrupion is and has always been a major problem.
Brazil is in a similar situation...corruption and massive spread of Covid with rising infection and death approx over half a million deaths, as I recall , and no sign of decreasing....

Sources of Bauxite supplies are now decreasing
China and Russia have Bauxite supplies but China still buys from overseas.....the quality of bauxite is the main problem.

One well known broker is predicing ,at present, that MMI is worth 7c....they are normally conservative......and most times the share price does over shoot conservative valuations..

EXPECT more BROKERS to update their coverage on MMI

There is going to be considerable weeding out of shere holders ...but i anticipate a short term rise to 3.1 before moving higher....
SHAW STOCKBROKING EMAIL THAT IS POSTED ON HC
7C PRICE TARGET
https://clients.newslettermarketing.com.au/t/ViewEmail/j/5C199360A9FB82052540EF23F30FEDED/9EC4876F8E6E8F484936C359EC0425C0

BUY LOW SELL HIGHER.....