DJ MARKET TALK: Minemakers Up 13% As Upsurge Continues
0215 GMT [Dow Jones] Minemakers (MAK.AU) up 13% at A$1.97, hit record high of A$2.09, as price surge continues. While stock market has headed south this year, MAK has surged 10-fold since January. Wonarah rock phosphate project and 4-fold price increase in rock phosphate price have triggered recent gains. Company has said US$100/ton rock phosphate price needed for Wonarah economic viability, whereas prices currently above US$200/ton from US$50/ton a year ago. In its January investor presentation, Minemakers saw strong medium-term potential for Wonarah, with initial target of 2-3 million tons a year (2% of world production). Traders should beware profit-taking likely at some stage and market likes round numbers like A$2.00. But assuming A$100/ton profit on 3 million tons a year, MAK is trading on a minuscule p/e ratio of about 0.3x. And Wonarah is only one of many potential developments that cover iron ore, tin & tungsten, fluorite. In longer-term, Minemakers has scope to get much bigger. (DWR)
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(END) Dow Jones Newswires
February 26, 2008 21:15 ET (02:15 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.
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Mkt cap ! $11.74M |
Open | High | Low | Value | Volume |
0.5¢ | 0.5¢ | 0.5¢ | $4.468K | 893.6K |
Buyers (Bids)
No. | Vol. | Price($) |
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21 | 14032390 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.5¢ | 1778954 | 3 |
View Market Depth
No. | Vol. | Price($) |
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21 | 14032390 | 0.004 |
12 | 10603333 | 0.003 |
5 | 4100000 | 0.002 |
6 | 9499950 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.005 | 1778954 | 3 |
0.006 | 4379835 | 9 |
0.007 | 5273803 | 10 |
0.008 | 5284822 | 8 |
0.009 | 881000 | 4 |
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