I am still a little uncertain how the share will weather the half year result. It may pause or come off slightly.
After the mid-year has been fully digested by the market, I do expect the stock to continue moving up.
On 7 July, I made the call of $3.60 precipitating a takeover by Glencore in the low $4 range.
While this may seem low now (certainly by global benchmarks), it would hardly be a bad result. However, the top price could be a lot higher. I have seen some cases put for the $6-7 range.
Regards Eos
MRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
