Everyone has their PRICE... there will always be a seller for every buyer. In this case... we as individuals will either value future prospects too low or too high. Most never get it exactually right, not even insiders.
LTers have an advantage as we have become intimate with the valuation calculations. Yet now we will be in uncharted waters as we look in detail through the ---lets face it 'Alcoa deal'- Lol--- I will be highly shocked by the info i have been given if it is not Alcoa, as some seem to think it will not be... They are in bed with these guys- come on.
Anyway so this means Option 1- Alcoa deal. Devil is obviously in the details and I suspect Alcoa will have played hard ball. Yet it was faster ANN than expected and ANNed that the potential for a deal was on the table weeks ago. I suspect the deal was conditionally made before Alcoa Exec's got here- many many many moons ago...
Upon the successful completion of Plant 1 then Alcoa had some contractual rights to expand OS... back when contracts were signed early 2009. It was all confidential and conditional so did not need to be released to us.
I have no doubt, so I feel little was actually negoitated. Simply the fact that Alcoa needed to come to sign off on the go ahead OS with this Coy.
From here those wishing to get in at current levels will be very dissappointed I feel. As many have waited for this day for a long time. Major and minor profit takers on the way up will kick themselves- as I sold approx. 30% to free trade. Yet such is life... As i figured 60c was also priced into a deal coming out soon and I thought it would take longer. So i had hoped to buy more under $1.
It is hard to see any detail in the contract that will send the price not flying past $2, maybe $3... yet I would have preferred a steady climb. As need time to digest the contents of the expansion contract or Alcoa offer, etc. Looks like expansion contract now from the wording of the halt.
We will all forget about the other assets, as they worth nothing compared to the recycling deal. The completion of the Plant will be ANNed in conjunction with deal IMO. As the deal has been around probably for a long time, yet conditional on upgrade completion.
Ohhh boy would it have been nice to be an insider on this one. Regardless those not taking any profits from 20c only a few short weeks ago. Will 10-20 bag this baby now.
Opening in a very short time will be interesting- if many analysts not given enough time to review the devils in the details- then it will either open far too short or far too high for the long ran.
Without seeing the deal- I will pay up to $2 as a punt to double up again...
I only profit took some due to thinking this was all too good to be true in such a short time- yet it has nearly been 2 years in the making... And many more years of strategic planning. Plus pissing me off and not letting me take a trip around the plant for security reasons. As a larger holder. The last sale being only 10%- yet annoyed to hold approx. 65% of original. But still a dream stock that comes around once every couple of years for the small cap player. How you play it- determines your skill.
Pyramid players may have really earned some bucks on this one- especially if all loaded up before this ANN...
Sometimes the too good to be true deals are actually fact- not often however. Thus i am sure most of us took some profits before the ANN...just in case of NO DEAL.
Anyway except at looking how much we lost profit taking- appreciate we may have found a TOP 5 play in all the market in this year.
Well done to those who held throughout.
Well Insiders do have an advantage as you can see below...
Frank Rogers gets a ten bagger in 6 weeks- Oh Frank what can we say- Greed rules.... Frank older than others so not concerned to risk career IMO...compared to the others.
Lets fact it- if we were Frank we probably would sell all assets to purchase far more than 51K worth- more like 500K would have sailed us into the sunset. I am surprised no other Directors took the gamble with ASX and ASIC...
Date Ticker Director Volume Price Value Action 07-09-2010 MHM Frank Rogers 220,000 0.233 AUD51,301 BUY Director Activity Chart 22-05-2009 MHM Peter Robertson 100,000 0.060 AUD6,000 BUY Director Activity Chart 21-02-2008 MHM Basil Conti 50,000 0.120 AUD6,000 BUY Director Activity Chart
MHM Price at posting:
$1.21 Sentiment: LT Buy Disclosure: Held
(20min delay)