I actually bought more when the merger was announced, but seeing that has been canned I decided to offload some really long holds.
Also Metro coal mine/s is now even further off in the distance for my liking. And it still has so much to overcome (rail and coal prices).
QLD government clearly have shown their hand as non mining friendly. Cape York announcement was a shocker, considering that only recently branded Cape Alumina's mine as a significant project.
However based on those negativities, MTE at 7.0mil MC is plain stupid. Any thawing out in coal pricing over the next 12 months, imo will easily see a MC at 20mil to 25mil.
Poor old CBX is dead in the water, with no cash and is currently at $9mil MC.
MTE Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
