MIM - a safe long term buy

  1. 9,081 Posts.
    At current levels MIM has to be a strong long term buy

    In 6 yrs time coal output will be doubled to around 38 million tonnes when the new underground mine at the Newlands is operational and when the expansion of the open pit at Rolleston takes place.

    A large lift in copper reserves at Mt Isa was announced in the latest quarterly report.

    Conservative valuation of MIM is around $1.60 a share.

    Given the resource cycle trend beginning a new protracted up cycle (see August Shares Magazine) MIM has to be a low risk standout long term buy.

    And there is always that takeover possibility. (watch out for a possible RIO bid)

    Cheers, X
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