Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Shooting the lightsout !

Reply
barry_1
Super Contributor
0 Kudos
14 REPLIES 14
Maddog
Regular Contributor
Hi Barry at what level do you think the lights are going to go out, this one cannot climb like this for ever I am trying to get to an exit target but this one is climbing so steeply I am not sure where to exit
0 Kudos
Theater_Cat
Super Contributor
Now would be a good time to exit and run like hell!! You can always re-entry at a lower price. See the charts...
0 Kudos
janne
Frequent Contributor
Copper prices gained as much as 2.4 percent yesterday in London as the Standard & Poor's 500 Index rose to a 15-month high after initial jobless claims in the U.S. fell more than forecast and orders for durable goods excluding transportation topped economists' estimates. Copper for March-delivery on the Shanghai Futures Exchange rose as much as 0.7 percent to 57,500 yuan ($8,421) a metric ton, the highest price for a most-active contract since Sept. 4, 2008. It traded at 57,270 yuan at 9:29 a.m. in Shanghai. USD weakened, contributing to copper's rise. When projected on 18 months scale MTX has still a lot of catch-up to do!
0 Kudos
barry_1
Super Contributor
u are quite right ,i think,look at my entry on this forum on the 26 DEC below for further veiws from me.OMO
0 Kudos
barry_1
Super Contributor
u are quite right ,i think,look at my entry on this forum on the 26 DEC below for further veiws from me.OMO
0 Kudos
BigMike
New Contributor
Well should we get worried or can we expect more. MTX have made sound business moves and looks good. How high can we expect to go.!!
0 Kudos
janne
Frequent Contributor
Another 600 percent possible. Has been at 25 rand earlier. Coppar up today another massive 2.4 percent, so the shae should continue climbing. Btw Wallmart shares gone up 60 thousand percent since introduction, so 600 is not that much - relatively speaking
0 Kudos
topgun
Super Contributor
You are familiar with the concept of dilution?
0 Kudos
janne
Frequent Contributor
Pls expand and put in your 5c worth of knowledge, i would appreciate it. I do not own any mtx, but some of Lundin Mining in Canada. Copper stock moves up and down much more violently than Anglo for instance, but definitely coppar futures made a big jump recently which affects mtx price. The whole the whole metals sectors is moving up at the moment so that also mrf, exx, anglo, bil etc are good buys imo.
0 Kudos
Theater_Cat
Super Contributor
Guys, take your money off the table and run like hell!!! This thing will be back at R2 in no time!
0 Kudos
barry_1
Super Contributor
Surely a stop-loss would be better?
0 Kudos
topgun
Super Contributor
At the previous high of 2900cps first reached during July'07, MTX had 313.1m shares in issue (market cap R9.1bn). This has subsequent to the recent rights offer increased by 140% to 745.7m shares (market cap R3.5bn at 470cps). All its peripheral assets (Vergenoeg, PAN, Phoenix etc.) have since been sold off to lower gearing while MTX has also lost the earnings of those assets. Point is that you have to compare apples with apples and a previous share price high is of no consequence whatsoever. That said, MTX is certainly very favourably geared to a rising copper price without the hedge constraint and with debt down to R1.5bn and an nav of 376cps, the share price is poised to go significantly higher after the coming pullback/consolidation phase, PROVIDED the global economy remains in a recovery mode. omo
0 Kudos
Theater_Cat
Super Contributor
Stop losses kicked in yet? Now already more than 10% down from 503c.
0 Kudos
THRESHOLD
Super Contributor
If you are an aggressive trader - take profits as and when they appear. Based on fundamentals - it would appear that METOREX has resolved her cash flow problems, finalised her Ruashi project, reahed an accord with the DRC re ownership, benefitted from ZAMBIA's s*****ping of a propsed tax hike; AND refocused her energies as a pure copper / cobalt play (shedding fluorspar, gold, platinum reprocessing.) This makes her a far more attractive stock as a copper punt. based on the copper price and M&A in the sector, you might consider holding her for next year. If copper holds at these prices (and with cobalt at anout 5x the copper price) she should be printing cash.
0 Kudos