The only thing i'm concerned about is the diesel price and the falling Aus $. Any reductions in the oil price are being offset at the moment by the falling dollar. That will not provide much of a cost saving to mrx, and with the copper price falling this will shorten their margins. Might even be worth their while slowing production for six months or so to see how the market reacts down the track.
I'm happy to recommend a Hold at this stage. I picked up a few more at .044 last week to average down.
Cheers, Mac
MRX Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
