Moondoong, MMX is a tiny fraction of my portfolio and I bought in Feb 2009 (still in the black but not by a long shot). Given the battered sp, in dollar value terms, it's now < 1%.
The OPR story was the thing that always held in back in check from buying big (I never believed in it). As far as teh mid-west, I bought big in MGX instead because of haematite and the Chinese saved it from insolvency (the collapse of OZL and Copperco around that period really hammered MGX sp).
I am optimistic MMX will be revalued as derisking occurs for JHEP after it divests OPR and any concesisonary benefits it may bring.
I think a $3+ sp in a couple of years time is certaintly feasible. If the market go all forthy again in a few years time co-inciding with synchronized global growth and the market overshoots on the way up (as happens in every bull cycle), then it could be even higher. (It all very much depends on China and India - indirectly as export to China will cease).
BTW, BIS Shrapel came out with a reports that reads "Housing Crash Unlikely". OMG ! Coming from this mob, did you expect something so limp ?? Unlikely....WT ?
Enjoy the Housing Crash Moonndoong !
MMX Price at posting:
76.5¢ Sentiment: Buy Disclosure: Held
