Market will do the talking. Actually T+1 on s/t breakout atm already IMO and early next week shld tell the story re how much loose stock left. Where are the sellers ? Reckon there are a few more buyers in the shadows looking for them now.
V good Q report. Reading the GBG report same time, they reckon they start shipping out DSO to PRC from next year. At 600+ mill market cap and 300+ mill committed by their sino mates with ROY DSO JV in the corridor, reckon we might wake up to a trading halt and Borg announcement some time next year to relieve the anguish of the L/T faithful. I'm only a newbie faithful wary of the broader markets, espesh the financial markets, and looking for REAL assets to convert my considered increasingly risky paper into, taking the lead from the Chinese ... they aint stupid.
Chart looks a MORAL for near term action and since base is so long with 5 waver down from highs complete and already showing signs of life, shouldnt be too hard to see this forming some kinda cup with rims at 11.5 and 24 or so later. L/T evolution is usually stepwise but at least this baby has the FUNDAMENTALS to support the TA.
If the bridge is inept, they should be replaced. Top 20 shareholders own 38% so wouldnt be too hard to do so if they dont perform from here. The fact they have chosen to focus on the next major boom sector ... Uranium (IMO)... means they are on the ball with finger on the market pulse for mine.
Nothing more they can do about the iron ore but its there and they own 40% of it and its got REAL VALUE. And doubt GBG will want any minorities around once they get their cashflow coming in from next year.
Looks too logical to pass by Mr Spock. I'm in with early tranche water testers looking for more SMSF core on opportunity ... and leaving enough space for multiples more in case we get another firesale come October ahead of the inevitable paper burn later.
Its all a balancing act aint it.
IMBOOC
MFE Price at posting:
4.3¢ Sentiment: LT Buy Disclosure: Held
