Interesting buying and selling today...and nice to finish in the green for a change.
My mail (subjective that it is) has been ALDP/ERF type news has been aiming for end of Oct/early Nov.
The fact that we are seeing more media talk about "direct action" rather than CT indicates that even the pollies are becoming aligned with the concept that ERF may be here to stay and CT is out the backdoor...
...and quite frankly, it should be...it was never about climate change for mine...just another excuse for yet another tax.
Anyhow, Greg Hunt has been making some big claims...and he wouldn't be making promises of 5% national emissions reductions targets and 50% reductions in LV unless he was pretty certain that these were indeed achievable...
...and he has been talking about DICE.
Anyway, irrespective of which tech gets the ALDP/ERF nod(s), MNM stands to profit long term as it has 600 sq km of LV dirt of which 289 million are S7 quality JORC'ed.
I've said it before, IK pegging out all those BC tenements since 2008 will be either a stroke of genius or pure madness...but for a guy that was heavily involved in the development of the CHTD BCE tech for many years, you'd think he have some idea.
We can assume who are drip feeding the 75k and 100K parcels, but there was some consistent buying today and it could very well be an or more astute investor(s) realising that if GH's ERF comes to fruition...MNM could be sitting on a virtual BC gold mine.
Well the boys on EL5210 getting $5 million or 80c per tonne of "clean coal sold" certainly think so.
My view, November will be a very interesting month for MNM...
...and hopefully the "longs" patience will be finally rewarded...
...as for the OA's...that's touch and go or touched and gonski!
Cheers K
MNM Price at posting:
3.3¢ Sentiment: LT Buy Disclosure: Held
