at these levels is oversold somewhat, page-11

re: mre to reach $2.30 before close? Subject re: mre to reach $2.30 before close?
Posted 25/11/04 22:15 - 16 reads
Posted by arhidas
Post #432049 - in reply to msg. #431675 - splitview

Tom924


And why do you think the current boom is not reflected in Minara's share price?


Arhidas
PSSS| READ THE IMPORTANT LINE BELOW
Wrong as many times as correct. This one can go either way.

*********
Good question.

check out the forward P/E ratio

Forecast Earnings Trends
30-06-05 30-06-06
EPS(c) PE Growth EPS(c) PE Growth
Median 35.3 6.3 83.2% 41.3 5.4 17.0%
High 48.9 4.6 153.8% 51.7 4.3 5.7%
Low 27.0 8.3 40.1% 16.6 13.4 -38.5%

If the highest forecasters are correct a P/E of 4.6 is very low.

MRE is also a potential/likely takeover target.

1st offers would most likely come in around $3.20 per share.

Also I think Nickel prices will go much higher, for longer, than what everybody expects.

MRE being unhedged provides excellent leverage to rising Nickel prices.

The Nickel sector with the exception of WMR is hardly flavour of the month at the moment.

If prices spike above Jan 2004 highs watch everybody get back into Nickel stocks, shareprices will sky rocket.

cheers.