Why mmm Here some reasons 1. strong volume Today 22,904,987 Friday 36,121,945 Thursday 13,185,565 Wednesday 48,148,669 Tuesday 16,886,769 Total about 127,244,000 in 5 days
2.Nickel on a 2 month high and still moving up
3. There is 212 buyers for 21,259,802 and 86 sellers for 8,063,882 units sellers are going
4.Short seller getting there finger burnt There must buy back in to cover there position
5.Citi rates MBN as Buy Target 30 cents The positive in this is that if prices do turn, Citi notes MBN offers strong leverage to the upside. The broker continues to see valuation support based on a premise of stronger nickel prices in the medium term, but a cautious approach is taken given Citi has some concerns about the operational outlook and the long-term viability of the asset. Neutral call and 30c price target maintained.
6.Macquarie rates MBN as Neutral Target 60 cents the Neutral call is otherwise maintained, the broker believing current work to lower mining costs and to improve plant throughput and recoveries should start bearing fruit in the second half of the year, which in turn should see the company cash flow positive again in FY14. In the meantime, leverage to a rising nickel price is significant.
IMO I don't see a CR at all
IMO I can see a TAKEOVER BID coming
MBN Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
