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Anybody Else Riding PAM?

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YNWA
Super Contributor
Anybody else been courting PAM?? Has been showing an enormous amount of leg since mid Feb when it bounced off support of 46.50 for the 3rd time....15 day crossed the 65 day on 6/3 ...... PAMIDA .....PAMIDB were the main plays....see previous post.
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9 REPLIES 9
john_1
Super Contributor
No Hombre. Only you had the brains to go with this one. boys at investec are punting metorex what you think, another copper play
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YNWA
Super Contributor
Ahoy Johno....have been holding since the 1100 mark.....on the weekly's has bounced off the 15 week ave, but MACD is showing divergence....but on the daily's it has broken back thru the 15 day ave and the MACD is positive again with rising volumes....today has seen a good spurt & volumes double the previous 2 days....highest vol in 3 months.....I am staying in for the long haul.....China ain't done yet! Try buying copper tubing locally...agree with Investec, maybe 2800 on the horizon?? MTXIDA?
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john_1
Super Contributor
Do you have any research on iether all I know is one is a zambian copper miner and the other is in bed with Kabila in the Kongo
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Wizard
Super Contributor
Flying high on the back of PAN AM!
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YNWA
Super Contributor
Johno....PAM: Rio Tinto Group 72.90% Anglo American Corporation 16.79% Oasis Asset Management 4.89% .....MTX: Allan Gray Asset Management 19.30% Rand Merchant Bank Ltd 10.20% Sepiol SA 5.60% Metallica Trust 5.00% ....MTX: As a percentage of EBITDA: Coal 33.10% Copper 20.50% Gold 18.00% Antimony 17.60% Fluorspar 10.80% As a percentage of Revenue: Gold 31.00% Coal 30.90% Copper 14.80% Antimony 12.70% Fluorspar 10.60% ...my 1c worth....PAM (Palabora)returned to profit 467m vs -93m, higher prices certainly helped but overhauled smelter returning much improved efficiencies with continuing high prices bodes well for the near term whilst prices remaining above $5000/ton.....MTX: Whilst copper not the main contributor it is a generator of solid earnings whilst gold is the drag....while copper, coal & antimony prop up the gold business in terms of ratio's, if gold price starts to climb significantly then MTX will bolt. MTX involvement with Gecamines (Congo)involves lots of smoke & mirrors...OMO
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john_1
Super Contributor
Is there some new mine about to come on stream soon for Metorex
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DST
Super Contributor
I think Copper is getting far bigger for MTX as they develop/expand up in the Congo; and they have sold some coal assets in Mpumaland - -- somewhere on the way to Barry.
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kr_pto
Super Contributor
anybody else think this is THE best subject line of the day?
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DST
Super Contributor
Been tp Palabora? Apparently they scrapped a beauty contest there - Miss Big Hole?
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