GREY:MLKKF - Post by User
Post by
chunkytoaston Jul 02, 2010 3:50pm
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Post# 17240119
ARE WE ALL SHELLSHOCKED
ARE WE ALL SHELLSHOCKED
It seems to me it's time to re-evaluate why we bought this stock in the first place, and see if anything has changed.
The co. is well financed and has positive cash flow.
The production will double within the next year, leading to much higher cash flow and profits.
Nearly all the CU production for this year is hedged at $3.10 and the same volume for next year at $3.12
Since the recent aquisition we now have a fine proven property that will become a mine when all conditions are right
Recovery problems seem to have been solved and when all the new cells are running, production will increase
There is no substitute for CU when building electrical infrastructure and for molly when low corrosion-high strength steel is required
China is growing at 9.1% and India approx. 4-5%
I wouldn't consider buying any more until the market hits bottom and starts back up in a meaningful way, and if I miss the first 10-15% off the bottom it will be better than buying any more on the way down, but ML is still the same company I have been accumulating and fully expect to have my profit either later this year or early next.
Don't panic folks, this will pass chunky