Good on you Splashy....as i have traded this stock for around 2 years and had a 70% success rate I almost know within .5c (half a cent ) where the retracements are...however it took me by surprise when 10c fell so i had to buy big at 10c for obvious reasons....with the expected margins available to MRX I firmly believe the fall through 10.5c support would be more likely to do with the DOW Jones daily swings than MRX operations....also the 100 million shares placed recently diluted the issued capital by 14%....eg if the shareprice b4 placement was 12c we get rougly 10.3c /share from the dilution effect of 14%
once the december quarter is released it should move to around 14c purely based on a positive cashflow position....and if not then i would have to ask what went wrong with the operating margin of approx $1.50 /lb copper....cheers and good luck for the quarterly announcmeent ....cheers JAM
MRX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
