Not too sure why. Cannot find any fresh news pertaining to further disposal of non-core assets either. They're still trading under cautionary, maybe someone know things we don't, or maybe someone is just taking their "farm" to another bet...
I also see that the share indicators still say hold? If this slide is going to continue I think we are all in for a beating. Does anybody besides the CEO believe that this share is going to bounce back?
Look guys, when you invest in loss making companies, the share price will be driven by sentiment, not fundamentals. Now copper is declining, rand is weakening and these guys are still not disclosing how they are going to fund their expansion. That means that fundamentally, speculators have nothing to go on. Institutions won't touch anything this risky. It is going to take some seriously positive news to get MTX to move again. For what it is worth though, kitco metals report puts forward a pretty convincing argument why copper can't fall below $4500 pt. That would be useful information, except that MTX is hedged at $3600 pt. IF they can't bring their RUSHDI project on line, then there is nothing to go on here.
Still going down, the only price that I can say it will eventually stop is 1c, dame did not see such a big pull back, has to look at a small recovery to 350 but from where ??????? I saw from TA about 290
And there I was - tossing between Merafe and Metorex a few months ago and true to form I picked the wrong horse! Through stop losses and speeding up my decision to get out of trading for good... OR is someone buying in the hope of a major recovery on the back of future, improved copper price?
I don't know anymore . I took a fat one on the lip here and the tears are streaming down my face. I will now hold ad infinitum. or till I break even.so by the way thing are looking now the administrator of my estate will be dishing out MTX to my poor heirs one day!