I don't feel confident on the opening, the macro data was against us, iron ore down, aus $ up, BHP and FMG closed slightly down on Aus closing price.
But i have no idea on the daily stuff; TB is your man. My trading model says it opens $21, and i'll be buying there as the long term trend will smash the shorts. You now have 3 of the top investment banks, Mac Bank, Morgan and Royal Bank all valuing at +$35, Mainly on the mining services business which is quite easy to value.
No chance of a cap raise now with Onslow proven to work at Nameplate, so game is up for the shorts; They can carry on with as much piss & wind that they want eg ASIC investigation etc, its all irrelevant to the value of MIns, and the shorts now have nothing other than a large future loss on the mark to market with their current short position as they cover a lot higher up. It will be fun to watch. Enjoy it.
MIN Price at posting:
$21.46 Sentiment: Buy Disclosure: Held
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