mmx has been oversold 50 cents was ridiculous and is now catching up base metals in general have been rising due to china stockpiling netals like copper zinc and nickel
chinas industrial output rose to 8 per cent in march compared to 3 for jan and feb
the market has been cooking these past few weeks and needs a retrace what id like to see is mmx test 95 cents and then form another 6 month high 45 per cent last week rsi is of the hook
mmx anywhere near 95 to a dollar is top up and ave up levels
imo sino will not make a takeover for 49.99 per cent they just want seats on the board they wil buy on market as they have been why would they pay 3 dollars when they can currently get for around one dollar and why didnt they attack at fifty cents i hope im wrong but its a fantasy sino will pay 3 dollars now for half the coy that makes a 6 dollar value or 6-1 ration wont happen enjoy the ride buy the dips hard mmx will worth a lot in no time sino or not fundamentals say anyone with a medium long term outlook will do very very well from mmx
mmx happy to see a retrace so we can push higher
mmx is a winner absolutely in its own right and buisness model oversold to the max
jack hills billion tons bear in mind 90 per cent of that is low grade ore its the port and rail that will be the value in mmx and solid offtakes with posco
harbinger capital know a winner when they see it and mmx is that a winner buy on the dip and get rewarded
MMX Price at posting:
$1.09 Sentiment: Buy Disclosure: Held
