MRE suffered a pretty big fall at the start of December Along with the Nickel price.
MRE dug up the Nickel but due to processing problems did not sell it.
MRE will sell that extra Nickel this quarter(It's actually works out greatly in MRE's favour).
Also During Mid December an Aboriginal group made a $20 million compensation claim against MRE. That promptly wiped about $120 million off MRE's Market capitalisation(the mathematics do not add up:).
MRE, 20 year mine life, costs going down, output increasing & Consolidation of the Nickel industry equals good short term trade & quality longer term investment.
I haven't owned shares in this company for about 10 months(got out a reasonable profit) but love the Call Warrants.
Last weeks rises netted me my 2nd 300%+ profit over 6 months in MRE.
I'm still holding Call warrants in MRE(though i did take some profits too early) because it is just too cheap & sentiment is now only starting to return to the sector & the company MRE.
MRE is still dirt cheap & unwarrantedly as far as I am concerned:)
MRE was trading at ~$2.25 when WMR was trading under $5 the day before the Xstrata bid.
Swiss people are smart!
Aussies???????
lol, some of us :)
hehehe.
Cheers.
MRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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