MRX is unhedged which can be negative and positive....my view is that it is a positive with srong copper prices to continue for rest of 2007 and beyond......MRX break even point is US$1.60/lb...current spot price double their breakeven so they are in good stead....the other thing to factor in is Stage 2 of Leichhardt will improve economies of scale and provide better profit margins.....this coupled with their exposure to Mt Isa uranium via DYL , the future looks good.....not long till production .....Hartleys report valuation of 15c is very conservative....as their valuation ranges from 5c to 50c (based on spot prices of US$3.35/LB) so what i read here is that Hartleys say at a spot price of 3.35/lb their valuation is 50c...mmm
MRX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
