The thing is, this is still below the pre-sub-prime price, and has only just got back up to the recent placement price. That's probably where MMB will start copping a bit of headwind as the punters who were stuck in for so long through sub-prime sweating their rings out looking at 38c paper they'd shelled out 38c for trading at 24c.
Also, remember that nickel has spiked back up recently, and MMB didn't respond to that, nor the recovery in the ASX after sub-prime faded.
Now is getting back up to the 38c mark, people might be more comfy with their investment. But knowing brokers as I do, the first time it gaps up to 43c again, there'll be people all over it like fleas on a dog.
As for fundamental reasons? Well, drilling, drilling, drilling, and a JORC out later this year. Two JORCs, one at Green Dam and the other at GSP. People are probably looking at this and rubbing their hands together. Others are, too, if only to get out.
MMB Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
