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Online Share Trading

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MTX

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Contributor
I have some of these shares and am thrilled with there continued rise but dont really understand it so I am a bit nervous. Should I buy more before they go up more or sit tight and watch
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22 REPLIES 22
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I thought I was being smart with a stop loss- damn thing kicked me out on about R4.78ish, then continued to go up a bit. Live and learn. lost out a bit there but made a quick 12% on SOL warrants.
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Super Contributor
Hang on before buying more. MTX has run hard and now needs to consolidate a bit. It has hit resistence at these levels and needs to break R5 before the next resistence at around R6 kicks into place.
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Contributor
Thanks chaps I see it has dropped a bit
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Regular Contributor
and i lost a packet on these when they hit R2.90 -
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Super Contributor
Oh for those halcyon days of 30 plus....
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Super Contributor
Jeez...what a word "halcyon"...what does that mean ?
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Super Contributor
Halcyon (pronounced /ˈhælsiən/), a term that originates from the Greek myth of Alcyone, is used most often to mean golden or marked by peace and prosperity.
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Super Contributor
bank it for the "impress her at the bar" scenario
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Contributor
Skyla, My opinion - Metorex went back to basics. Got rid of non - core activities and concentrating on core business now. Management also seems to be sorted. Corporate Governance is established. It can only be better henceforth. I hold Metorex shares since being listed. Metorex is capable of more than the previous highs. As a investor I think it is about time that Metorex consider distribution of dividends.
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Contributor
what made Metorex drop this morning. Dividends would make them really worthwhile
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Super Contributor
Dividend talk may be slightly premature with debt of R1.5bn and further capex required to get Ruashi fully operational...
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Super Contributor
still to soon on this one, I agree with topgun.
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Occasional Contributor
According to the operational updates MTX produce roughly 2,500 Ton copper per month, 30,000T annual, hedged at $6,000 per tonne = $180,000,000 income. At an exchange rate of R7.20 to the USD, earnings is just over R1.70 per share.
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Super Contributor
That is indeed correct if you mean revenue/share which is unfortunately not the metric normally used. Still have to subtract the secretary's salary, onmine costs, electricity, pay the bank interest on the R1.5bn etc. etc. I trust your realise the slight miscalculation?
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Super Contributor
Be careful of trying to be too clever with this stock. As long as the world holds up, this share looks insanely cheap; both on a projected earnings and on an asset replacement basis. The breakout has come on the back of news that METOREX has resolved her cashflow issues. She is also the only pure copper play on our market (PALABORA is hopelessly illiquid) so even funds will look at her. The point is - she has broken out of a long consolidation on news the market was waitinf for and I really don't see that you can count on resistence levels to stop her ascent with any degree of certainty.
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Super Contributor
I think that this share should pull back soon and then run again, this is from a TA point of view......Agree or DisAgree? Another point is that Monday the market should reflect what is actually going on as December is a Jolly time.
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Ahh the monday feeding frenzy...Our first real trading day when all is almost back to normal and the big boys are back and relaxed. How much profit to be taken to pay back the debt created in December??...... Right now I am sitting and watching. Trying to predict this week has been rather interesting. My TA says a pull to about 460/455 but I am sitting out till next week to see what really is up. Could be a share to own for 2010???
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After the volalility of yesterday, I thought i was going to lose on this share, but i see it's on the move again. now the question is, should I take a small profit and run? usually the market is suppose to go down on a Thursday and Friday doesn't it.
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Super Contributor
My favourite small cap at this time!
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