GREY:MLKKF - Post by User
Comment by
bjorn3d2bon Sep 09, 2008 3:03pm
194 Views
Post# 15442161
RE: Fear and Greed
RE: Fear and GreedThe debt is really very small and will be paid out as you say. ML has a hoard of cash, as you have pointed out so all of this market stuff has no effect on the on going plans to complete the expansion. So copper is down a bit but not even close to where the market seems to think it will go given this price on the stock.
I remain confident in managements ability to commission the plant by the end of October. All of the work has been on schedule so I expect full production by the end of October and that means product out the door and a new stream of cash flow in.
To me this action in the market looks and feels like a text book capitulation. Feels like August last year to me but we need a bounce off this level to even think the worst is over.
I would love to be able to buy the whole company at today's market price of around $430 million. I think pay back would take 2 years or so and I could spend the next 28 raking in over $300 million a year. Now that is a healthy rate of return.
Fear and Greed are a traders best friend.