MRL 1.28% 7.9¢ mayur resources limited

mrl - looking cheap?, page-2

  1. 10,373 Posts.
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    SSB upgraded to MRL "buy" 2 mths ago when it was trading at $2.57 - so much for that upgrade!

    For the past 6 weeks or so some insto has been offloading a heap without consideration as to what they are doing to the price - and the value of their remaining holding.

    ING came out a week ago and said they had reduced their holding (from 19.8mio to 18mio shares).

    Don't know if it is still ING offloading, or CBA who also holds a bucketload of MRL.

    Bottom line is the insto concerned is still selling - typically letting the bid side build and then dumping 15,000 or so. Going into the closing auction they will typically post an offer of 60-80,000 shares at the last pre 4.00pm sale. After the auction the offer is removed and carried into the market enxt day.

    Whenever the insto finishes MRL may well be a good buy, meantime I would stand aside.
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7.9¢ 7.9¢ 7.9¢ $395 5K

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