MRX 0.00% 0.7¢ matrix metals limited

WesthxThere could be something to it. I was always wondering why...

  1. 18 Posts.
    Westhx

    There could be something to it. I was always wondering why Glencore put some money into a small copper miner in Oz. Glencore is a huge metals trader and clearly they could have bought some copper mine in south america that produces at half the costs then what MRX does. I sort of have the feeling they were in there because they expected something from the exploration activity. Don't forget Glencore and Xstrada are the essentially the same thing. Now either there is nothing in the ground at all and Glencore gets out while they can still recover their investment or there is something else we don't know. I wonder what happens next. But the way I expect this to pan out is that Glencore will now walk away a virtually 'free' mine. (4.4 million + write down on share - profits on their cut of sale of copper, which was probably quite good). This is simply no amount of money for them .....

    Don't forget ... this has happened before. Annaconda nickel had huge problems at the time. Everybody lost their money ... everybody but one.

    This is not a conspiracy or illegal... this is just very tough and ruthless business.
 
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