Can anyone explain why MRE is languishing around $2.20 when JBM (even after its post-dividend slump) is valued at $4.22 per share? This morning MRE promised a special 20 cps divvy - subject to shareholder and ASIC approval - so even JBM's competitive advantage on that score has effectively been nullified.
I know the history of the old Anaconda and the costs involved in getting a poorly built plant up to scratch; I'm just surprised that the market still seems to nurse a grudge given the excellent turnaround represented by today's figures. The company is awash with cash and facing a nickel environment that remains bullish for the next 18 months at least. In addition, MRE owns one of the few truly world-class nickel resources with a very long mine life.
Is it just residual negative sentiment or does something else dog this company? Is it expectations that a rising A$ will undermine profits going forward? Or a slump in Chinese demand for stainless steel? Any thoughts?
I hold.
Gupper
Can anyone explain why MRE is languishing around $2.20 when JBM...
Add MRE (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.99 |
Change
0.000(0.00%) |
Mkt cap ! $301.3M | |||
| Open | High | Low | Value | Volume |
| $1.99 | $1.99 | $1.99 | $373.3K | 187.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3530 | $1.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.99 | 184311 | 4 |
View Market Depth
| Last trade - 15.43pm 08/11/2024 (20 minute delay) ? |
| MRE (ASX) Chart |