If I didn't know any better I would guess that MNM is being held back among fears from those in the greater investment community. Typically there is an air of uncertainty for the push to progress a sharp increase in the brown coal and black coal industry in Australia at the moment. The current federal government is pushing wildly toward a "greener" future as it seems, although I dont know anybody who actually voted for them to do it, and by assuring that they ruin the growth of businesses like MNM they think that they will save the planet somehow. The public obviously see this as a smoke screen so that they can implement the use of 'carbon credits' to claw back losses from wasting a shipload of hard working Australians tax dollars. I seem to be rambling so to the point; If as suggested today by Tony Abbott on 2gb radio that Coal fired power in Australia may be on the brink of extinction due to current government policy, I believe the coal industry in Australia will also suffer. Hence the stall in share price. However I also believe that in the mid to long term, there will be significant opportunities for MNM to exploit the brown coal sector worldwide and also do very well with the other ventures in its portfolio. Brown coal has the potential to turn MNM into the next Fortescue.
MNM Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
