1. Most Discussed
  2. Gainers & Losers
MBN 8.3¢

Another 4c to 44c Run?

  1. tomboy

    3,322 Posts.

    I am a long suffering holder of my remaining 1.5% of MBN.

    I saw it go from 1.6c last TH to 44c then back to 3c fighting all the way down. At 13c i called it to drop to 3c which i was then laughed at over, but proven correct in the end. This latest TH was a surprise to most holders as the question was is MBN going under or surviving and going UP. Answer... its going up.

    So now the question is where will it go to from here... another 4c to 44c move like last time end 2014 or back down... with this sort of momentum there clearly are traders and large sellers...11% of stock sold in 1 day, but the buyers were there, maybe the old holders like me are going to try to spike it again to recover their 98.5% losses.

    With lower costs, higher production, 90% offtake agreed, large cash burn ...there is only 1 missing ingredient...a higher NP. I cant see this stopping here at 5c, But will it run to 44c or to 7c and drop back to 3c??? Thats the $64M question

    ....so the valuers and market traders look to comparable size producers ie MCR or even Glencores low grade murrin murrin in WA. $50M MC seems low for a surviving MBN but it seems a run is on here, the buyers at 5c want it to go higher and with volume can do this. The old holders like me are sitting on it hoping for 44c or to go in and trade it to get back what i lost before.

    We cant let the yanks have all the cream can we?

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.