Certainly is undervalued provided the copper production gets underway in July as anticipated. Hartley's valuation was 15 cents in a recent report with upside to 50 cents if the copper price was $3.35/lb which it remains (and provided stage 1 and 2 of Leichardt happens and White Range is developed). So they expect a significant rerating in the second half. I think that 20-30 cents is achieveable by year's end and higher next year if all goes well. You would have to think that MRX will move towards 15-20 if production expectatioons are met in the september quarter.
H
MRX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
