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3.17%

6.1¢ mrl corporation ltd

I will stand corrected. Meanwhile, I will be buying more, as...

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Fitza

3,089 Posts.

02/09/15

01:55

Post #: 15916775
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Originally posted by insaf ↑

Fitza, in all honesty do you understand the concept of day trading? A lack of interest is the cause for the lack of progress. Which day trader would deal with under a million share turnover at 6 c? It is illiquid. Maybe you meant to say instos, but in reality no interest at all. 10 million and the DTers will arrive. Otherwise it is transient holders trading in and out losing patience then getting re-invigorated.
The reason for a lack of movement is 2:
1.No real substance in the announcement - the devil is always in the detail and none of it at the moment. It is an alliance with potential but it is no offtake or sales.
2. delay in licences - July, the announcement said in August the license was due. April they said in 6 weeks. Now shortly? I know Sri Lanka processes are very slow post election (I warned about the timing issues so no big deal). However, markets look for excuses and this is an excuse to keep the SP in limbo. We get the licenses and we should get momentum in the SP. Then off to production and sales.

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I will stand corrected. Meanwhile, I will be buying more, as funds become available.

MRF Price at posting: 6.0¢ Sentiment: Buy Disclosure: Held
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