MRX has been guilty of bfs delays hence the non-movement in the price.
However in defence of MRX management, the massive resource boom over the last couple years has stretched the resources of consultants used in BFSs to the limits.
In fact, 2004 was a graveyard of BFS delays eg, Gunson, my own Herald, BTV, JML (again another of mine), and the list goes on.
Those that announced delays early in 2004 (or in 2003)got absolutely walloped...then the market cottoned that it was out of many miner's controls and due to the short supply of consultants...much like with drilling where there was a short supply of drill rigs. Although shareprices weren't smacked around, a delay did cause a lull in shareprice.
admittedly I had never been a fan of MRX given its history with Mt Cuthbert...however the MUCH higher copper price, the fact that IGO took 20% and my discussions with IGO about MRX (nothing insider just sensible questions) influenced my decision to take a relatively small position in it at 11.5c.
Cheers
Cdchi1
MRX Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
