mre management presented to insto's in london last week during LME week ,i hear all went really well funds very impressed with mre's cash position and cash generation and with a pe under 7 want some of the action, considering xstrata paid for falconbridge on a pe of 17 and CVRD paying 18 for inco they realise MRE is cheap!!!! i suspect that it was european funds who were buyers today. also hearing production having no problems and they are aiming for another good qtr, cash position should be huge come end of year so final dividend could be a whopper!!! seems all the talk at LMR week was about shortfall of supply for nickel and zinc talk is Ni and zinc prices to go higher and stay high.
MRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
