MRM 0.00% 33.0¢ mma offshore limited

Re buying I think MRMs price is still too high at the moment and...

  1. 896 Posts.
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    Re buying I think MRMs price is still too high at the moment and in the short to medium term I can't see it going up. As V_H pointed out, seems pretty likely they are not going to make enough earnings to pay even their interest next year. That will hit home at some stage.

    My own take prior to yesterday's trading update re a trading uptick was kind of inline with the update. In a nutshell I think:
    - In calendar year 2018 we might start to see some work coming though, demonstrated by a fair reduction in the stacked OSV fleet
    - In calendar year 2019 we might start to see some (relative to now) more favourable trading conditions.

    I note we saw similar predictions from US Rig operator Transocean a month or more ago.

    Re brokers I know a few through in the towel last time but I'd expect a few still to cover. I'd expect Hartley and Morgan's at the least.

    Re CDD I agree it's a good buy (now). As I've said on that forum I've got a few shares (not enough to get super stressed about) and am gently accumulating on the dip days.
 
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Currently unlisted public company.

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