Trading Statement

[#1]

Metorex will issue a trading statement next week and it will be excellent. Profits will exceed the forecasts and most new projects are being commissioned or started. New mine planned for 2009 with excellent grades of copper and cobalt.

[asylum]

hmmmmm the directors sending out notice that the share price volatilaty is unnatural and that company fundamentals are in great shape, maybe bargain price to get in now, what you guys think.

[#3]

yeah, I had a top up buy order still outstanding for MRF which I cancelled and bought MTX in stead so now holding both...

[SimonPB]

directors should worry themselves with running the comapny. Leave the share price to the market.

[asylum]

they releasing trading update by the end of this month which is only a couple of days away so how come they havent sent a sense saying that they expect their shares to be 20% above or whwtever the case may be or is that the trading update their reffering to.

[platsak]

I got badly burnt by this one. Cant relly go lower. Maybe double up?

[#7]

I strongly disagree. First of all the management of MTX is excellent and I have not yet faulted them. I have been following MTX for a few years now and I recommended MTX when it was trading at 360. The management of a company must look at the wellbeing of its shareholders and in view of the unreasonable drop in the price of MTX with all kind of rumours doing the round I think that it was the duty of the board of MTX to issue such a statement. As a matter of fact in my correspondence with Mr Needham I urged him to make a statement. I thin that you are entirely wrong with your statement. The share price is also very important to the board of mTX as they have made some acquisitions which were partly or fully paid in MTX shares.

[#8]

I wish! But by 31.12 it could well be! MTX has never failed me except over the last few weeks. I urged Mr Needham (CEO) to issue the statement he made now on sens!

[DST]

Patrik you may be pleased at the statement, but pSimon in right. The market will do what it does (including overshooting in both optimism and pessimism). One hopes that the ex-boss, Simon Malone, isn't over exposed to the shareprice for his welfare, now that Needham et al are doing the work.

Companies' management should drive value, and let the price find itself.

[#10]

See my reply to Simon.

[DST]

Had a while to see it, thanks. You are missing two issues - one, what should company bosses spend their time on? and two, you are falling into the trap of advocating answering the "Have you stopped beating your wife?" type of question.

[topgun]

Patrik I agree - while management should occupy themselves with managing the business to the best of their ability, abnormal price volatility caused by unfounded rumours and pure panic should be addressed, if only to protect the innocent against themselves. The stock price is important for an acquisitive company such as MTX and provides a further reason why companies are allowed to repurchase their shares in the market. The forthcoming SENS will reflect just how absurd the current price action is. omo

[platsak]

I Really hope thats the case. Got in big time.

[SimonPB]

hmmm, nah I still disagree. To follow on from DST's point, so now must we assume that the other 449 companies on the JSE that haven't issued statements saying all is awesome are in trouble? Nah managers manage, the share price will look after itself, if share holders find it too hot - well then find another kitchen.

[#15]

The shareholders are the owners of the business and the directors must defend their interests and preserve and grow the value of the company. If something abnormal happens like a 40% drop in the share price with abnormal high volume it is obvious that each shareholder has the right to approach the board or the CEO and to ask some questions. I did this and Mr Needham, a very capable and experienced CEO, responded to this. Which I immensely appreciate. As CEO I am sure that he did not spend an enormous amount of time to formulate his answer. I thereafter urged him to issue a statement to calm the waters. He concurred and that is exactly what happened. I propose to Simon that he protests very clearly as a shareholder in MTX to the board as in his view shareholders should be left in the dark and the CEO wasted his time in answering a query by a shareholder. How can the market form an opinion if the the stakeholders are not properly informed? Or is this a matter of stifling freedom of speech.

[topgun]

well, I added to my long-term position today....the market will reward me if I'm right and that is all I care about.

[platsak]

Patrik. Looks like its going to open at 2000c and is set for a nice run.

[barry_1]

Hello Patrik,You have given good advice on this share in the past,on the strength of that i bought a SB installment this morning.I won't hold you responsible if it does not pan out as with all shares ,there is an element of risk!

[#19]

Thanks for the trust. As you notice I have always kept contact with the management of MTX. We will still experience a high volatility in the share price but a share price of 2600 looks a possibility in a few months time. The management of MTX is excellent and open for information to every shareholder. One factor completely forgotten by the investors is the cobalt production Cobalt is in big demand and is at a record price of $45.00 per ounce. The future looks rosy.

[#20]

Oops! Cobalt is $45 per kg.