MMX - Murchison Metals

[wahoo]

Well, some pretty insane volume (by MMX standards) today 12.5Mil ($16.8Mil) - usually averages around 600k - so its definitely on the radar - there's still good divergence on the MACD and the fast stochastic has just crossed over the slow, this is the 4th day in a row with a decent tail, so the engines startin 2 roar for takeoff!!!

 

[surfie]

MY SPECULATION
POSCO have about 12% after exercise of options last week.
POSCO need 20% to get a director and if they were the buyer of 11 million shares (3.7%) yesterday at $1.35, then they would have about 15%.
So they still need to buy about 5% (15 million ) on market.
If there is no large crossing then they will have to buy up like we all do. IF that happens we could see the $2.00+ very soon. But this just my speculation/wishful thinking.

 

[wahoo]

I hope ur right surfie - but personally if they really wanted that at this stage, I think they would have accumulated enuff b4 they excercised their options (which remember they did early) so they could have done the deed in one fell swoop. I think they want to have MMX up and running solidly b4 they're worried about gettin a director on the board. Theyre not short of a $ so paying to get in when its politically correct is no issue.

I hold. I'd prefer we stick to the consistent gradual floating upwards in the sp - and not get too excited and make it burst.

 

[wahoo]

Bull at a gate this morning and gapped up a little - but it spent the day convincingly at $1.60 with good volume >2m (not as wild as yesterday though - checkout that hit late afternoon over 10mil shares in one blip!)

The days' firm consolidation should be a good platform for the next leg up - because the 'Delray' kicks off tomorrow at 2.00pm with the very first shipment

(check for yourself - http://www.gpa.wa.gov.au/uploaddocs/trans/shiplist.htm)

 

[imajica]

New Merril Lynch research is very encouraging news for MMX holders!

have a read: http://www.mml.net.au/images/murchison-34--theeg.pdf

they have a conservative price target of $5 per share

if conservative assumptions arre removed the NPV rises to $13.20

estimated reserves:

1. Jack Hills resource estimate is 380 million tonnes
2. Weld Range resource potential is 300-400 million tonnes.
3. In 2013-2014 proposed production rises to 50 mtpa.

OPTIMISTIC CONCLUSION: 800 MILLION TONNES of iron ore


we could have another FMG on our hands given enough time

MMX market cap: 763 million (share price $2.79)

FMG market cap: 5.953 billion (share price $24.10)


and MMX is already producing and shipping ore!

worth researching this one!!

 

[imajica]

a nice looking chart!!

could someone please provide some sort of technical analysis?

thanks in advance

 

[ta2693]

If Merrillynch is really that confident, why they sell on 08-09-06, if I am the investo and I will let not my information out unless I want to sell.

Too suspicious, from my point of view. That is not my game. Good luck with the holder.

 

[imajica]

Merrill Lynch had 20.72 million shares , after sale they stilll have 20.523 million shares

I would hardly even rate this at all - let's try and keep the posts constructive and well researched,

And please, let's not torture the English language - your grammar is appalling

Let's face it, a Korean powerhouse like POSCO wouldn't invest so much time and money in MMX if it didn't think it was on a defnite winner

 

[sweetbarrister]

Look at MMX. Look at FMG. Go to MMX website. Look at stage one and stage two. Put some money in and watch it grow. Posco Steel the largest steel company on Korea did. Warren Buffett bought a stake in Posco.

 

[imajica]

the MMX story is just unfolding with regular shipments from stage 1 showing excellent grades and quality.

sound management and the close relationship with Korean powerhouse, POSCO, should be enough to inspire widespread investor confidence.

 

[ValleyAnt]

Got excited and broke out early! Well done to all those that have been following this one, I have been for over 12 months now

Cheers Alex

 

[imajica]

yet another unbelievable day for MMX - closing on the day's high on solid volume - this one is looking very bullish indeed

 

[heads up]

its an interesting story and im along for the ride. reading the web site, and regarding the planned deep water port at Oakajee, who will pay for this?
state government and MMX or WA plus MMX and POSCO?

 

[imajica]

a little bit of profit taking today with sellers spoiling the party - this seems to be a predictable trend with MMX - a massive jump in share price and then a consoldiating period before a large jump again

with FMG capitalised at over 7 billion - its not hard to see where MMX is headed in the future

 

[imajica]

yesterday was a healthy period of consolidation for MMX

up 4.5% again today - I'm really liking the look of this one

 

[thierry]

The volumes were low when it dropped yesterday 9 May..

Let see what happens at the close of today.

 

[imajica]

new drill results just released from Jack Hills

have intersected high grade wide lenses of massive iron ore

excellent grades

market hasn't caught on yet.

 

[imajica]

ASX Announcement ASX Code: MMX, MMXO 11 May 2007 JACK HILLS IRON ORE PROJECT * DRILLING RESULTS


Murchison Metals Ltd is progressing with a drilling programme to define the extent of mineralisation for Stage 2 of the Jack Hills Project. The drilling programme is designed to target extensions to mineralisation below and along strike of the Stage 1 Reserve. The drilling programme continues to intersect wide, high grade lenses of massive iron ore.
The results reported are predominantly strike extension and depth extension drilling. Zones of high grade iron ore mineralisation have been intersected below areas of little or no iron ore outcrop and adjacent to known ore lenses. Drill holes MHRC272 & 273 fall into this category. After all of the data has been received and analysed, it is expected that follow up holes will be required to identify the full extent of this new zone. The intersections reported confirm the continuity of mineralisation and the potential of the project to host large tonnages of high grade mineralisation. Drilling has commenced on the Brindal lens and a second special purpose RC rig will be mobilised to site this week to assist with the drilling programme. The results from drill holes 170 to 289 (120 holes) have been finalised and are tabulated below. These results represent a further 24,565m of drilling. The results of eight drill holes (2,288m indicated in the table) are currently unavailable. As reported on 10 April 2007, within the deeper zones of the H4 lens, carbonate veining and cavity filling associated with the iron mineralisation has been identified. Murchison is completing a metallurgical testwork
programme designed to remove this material.

Significant Intersections from recent drilling include:

MHRC187 18m @ 61.8% Fe
MHRC196 14m @ 61.0% Fe
MHRC199 24m @ 63.3% Fe
MHRD202 36m @ 61.5% Fe
MHRD222 3.7m @ 68.5% Fe & 34.2m @ 67.4% Fe
MHRC230 16m @ 63.1% Fe
MHRC234 6m @ 61.1% Fe
MHDD246 8.4m @ 67.7% Fe
MHRC247 26m @ 62.7% Fe & 14m @ 64.5 % Fe
MHRC253 48m @ 62.3% Fe
MHRC254 34m @ 65.3% Fe
MHRC263 52m @ 66.2% Fe
MHRC269 16m @ 59.9% Fe & 18m @ 61.7 % Fe
& 24m @ 66.1 % Fe
MHRC272 18m @ 64.3% Fe
MHRC273 52m @ 64.5% Fe
MHRC276 30m @ 60.5% Fe
MHRC277 26m @ 60.2% Fe
MHRC282 48m @ 65.8% Fe
MHRC287 72m @ 61.4% Fe
MHRC289 54m @ 61.8% Fe & 42m @ 60.2 % F

 

[imajica]

another chart for MMX - displaying the meteoric rise over the last few weeks - looks bullish to me, any T.A. would be appreciated

 

[thierry]

Up another 5% today..

There doesn't seem to be an end in sight.. any reasons for todays upward movement?

Many shares traded on 14/05 for not much movement as well.. not sure why.