Der very low volume means no one is selling, can manipulate SP up or down easy, when it went 88-98c in 1 day it was on 1M volume only. Wit 1M volume can spike dis up to $1 easy before anyone notices.
I buy in twice in MCR already, pick 75-80 low but range was 80-98 for last few months, cannot pass 98c ceiling three times.
Der latest AR14 is wunderbar more dan expected wit larger increase in margins up 36% and sales up $11M up11% and EBITDA up 259% close to triple last year is very strong, wit reduced cash cost down 7% and i see NI grade up to 3.2% much higher than SIR POS and MBN. Dis is upper medium grade NI ore. Dividend and outlook guidance same as last year not rising is disappointing but dis set up beat of guidance easily next QTR
a few QTRs of dis at current NP and EBITDA go from $31M to $90M and net profit to $35M talked about wit cash flowing into to cash at bank.
Macquarie will be correct on TP of $1.55. My outlook wit NP 45% higher than Jan14 is dat der sales/profit next QTR will be 40%/800% higher and market not understand dis except Macquarie. SP still too low and must be at 90c soon. Note "expanding ore reserves" from dominant land position wit "high quality targets", der lava flow is everywhere dey want to find it and at better grades and cheaper to dig...WUNDERBAR
MCR Price at posting:
78.0¢ Sentiment: Buy Disclosure: Held
