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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?

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