The problem we have at present is that there are many MRE shareholders who bought in at 26 - 30 cents and are locking in profits. Whilst, I also averaged down buying at 26 cents, I'm also a long time MRE shareholder who realises that when nickel is above US$8.00/lb Minara is making serious money at this level. Unfortunately many shareholders do not realise this. I spoke to a couple of MRE shareholders today and asked did they realise what the nickel price was. The answer was NO, they didn't know, in fact they didn't know that the nickel price had gone from US$5-6/lb to US$8-9/lb over the last few weeks. They had thought that the shareprice had gone up because the market had gone up. Unfortunately this is what we are dealing with, very few shareholders have a clue in what they are investing in. One shareholder told me that he sold just because he had made a 50% profit. That was his only criteria. Fact is, with the nickel price at US$9.00+/lb then MRE has to be worth $2.50/share.
What are your thoughts?
MRE Price at posting:
$1.16 Sentiment: Buy Disclosure: Held