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MIN - Mineral Resources

Discussion in 'Stocks I-P' started by grace, Jan 14, 2008.

  1. rimtas

    rimtas

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    Because the stock is declining to new lows, no any short term patterns discussed above are valid at this stage. I dumped MIN before ex div date(I'll never take divs).
    Medium term there are a number of variants what could be happening next but looking at the BHP chart here https://www.aussiestockforums.com/forums/showthread.php?t=1335&p=840445&viewfull=1#post840445 it could be the same -a massive triangle at work. Thus current decline should stop somewhere between 8 and 6.

    If setup is right(small risk big reward) I'll post a chart, but at the moment I lost interest in this stock.

    MIN BIG.jpg
     
  2. rell

    rell

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    Min has been a sell for brokers for a long time. I notice Commsec now note that the broker consensus is hold. The stock price doesn't seem to be influenced by movesby the likes of BHP or RIO. Any current thinking on the stock? Any sense of direction for this stock?
     
  3. Miner

    Miner

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    More than two years no posting on MIN.
    So let me ask few questions :
    What is going on with MIN?
    Bidding for AWE - great transformation and wish list. The market reacted with a fall of more than 8%. Obviously market judged the capability of a company started with poly pipes (PIHA), moved into crusher operator (CSI). Fortune did favour and Rio Tinto operation contract gave great leverage. MIN born and flourished. Astute commercialism of a great team worked. Lithium worked well. But now moving into AWE business is a great call. Just like Freeport McMoran Copper and Gold (FCX traded in NYSE) did . Ventured into oil and gas. Market hated it. Just Google and know about it. I can see MIN is going to follow same path.
    Guess what before market reacted the top bosses reacted themselves.
    M/s Peter Wade and Chris Ellison both on the same day 4 Dec sold off shares of the value of about $4M and $36 M. What the stock exchange would say? What shareholders who lost their money by more than 8% would ask? What will the rulebook say? Just coincidence to have the sell on the same day ?
    Of course, there is something going on here we do not know and will not know.
    DNH. DYOR
     
    qldfrog likes this.
  4. Miner

    Miner

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    Breaking the ice on MIN since posted back in Dec 2017 :)
    Today MIN is under trading halt. Prior to that MIN was in red. Interestingly Robert Tim has purchased more than 2 millions shares on about $14.8 considering today's closing price was $14.3 . I have pasted today's announcement as well the purchase made by Tim Roberts. Hope a director investing $29.6 Million expected to get some return of his money.
    Disclaimer - I now hold MIN and bought only one week back as well as holding HZR . Looking back my stupidity to sell MIN at $4 few years back after buying at $2 in 2007 (If @grace is around on ASF and holding it still, must have made fortune better than Chris Ellison I suppose) not having the crystal ball then. :)

    upload_2018-12-14_12-50-35.png



    upload_2018-12-14_12-48-38.png
     
    Trav. likes this.
  5. Miner

    Miner

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    Did some digging to see the value of the transaction with Albemarle announced on 21st Nov.
    So question is why halt today unless the transaction value has changed significantly ?
    We would know probably on Monday late if not on Tuesday AM.

    upload_2018-12-14_13-19-25.png
     
  6. Gringotts Bank

    Gringotts Bank

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    Looks ready to add a few bucks.

    x.jpg
     
  7. Miner

    Miner

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    Hello
    I noticed MIN is going south with no news.
    So not sure what you meant.
    Regards
     
  8. Gringotts Bank

    Gringotts Bank

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    Hiya. That flag at the end has lowish volumes, which isn't ideal. Looking for a big reversal bar very soon. Are you holding?x.jpg
     
  9. Miner

    Miner

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    Yes. I am holding :)
     
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  10. peter2

    peter2

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    I've been waiting for the BO-HR on MIN for some time. Even the meteoric rise in FMG and iron ore prices hasn't budged MIN. A conditional buy order was triggered late yesterday and was completed today.

    The chart below is part of a research project and should not be considered a recommendation to buy this stock. If you want to read more about the project log in to read the P2 Weekly Portfolio thread.

    Setup: Pull-back, break-out of horizontal resistance
    Grade B due to concerns of being a laggard (re FMG)
    Buy limit: 16.52, iSL 15.00, initial target 21.00

    MIN070218.PNG
     
  11. peter2

    peter2

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    Looking at MIN vs FMG over the past two years. They matched each other until mid 2017 when MIN took off and left FMG behind. Both stock prices drifted lower during 2018. Now FMG has rallied strongly with the rising price of iron ore, can MIN match it?

    minfmg.PNG
     
    Miner, rnr, debtfree and 2 others like this.
  12. Miner

    Miner

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    Just on a tongue and cheek .
    MIN used to canvas for work to Mr Twiggy in 2007, when I was working in FMG. Today, MIN is a big player.
    Now under equality, probably Elizabeth ( CEO) of FMG would ask got gender equality and same pay for same performance and hence the bonus, level of equity and salary be equated with Chris (CEO) of Mineral Resources.
    Keep in mind FMG is pure iron play where MIN is a combination of contracting, iron ore and Lithium. Also business models are far different.
     
  13. tinhat

    tinhat Pocket Calculator Operator

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    Did MIN take over the BCI iron ore "mines" that BCI were in joint venture with FMG?

    You would think that keeping track of a commodity chart would be the easiest thing, but I think too many of us got burn by not reading and understanding the charts and the commodity cycle last time. I lost so much money on BCI after having made so much on paper. It was an education. I would also like to think that, indirectly at least, my money was backing something value add rather than just scraping dirt up and putting it on a ship.
     
    Miner likes this.
  14. Miner

    Miner

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    MIN published its result this morning.
    CAPEX has gone up considerably and a good sign.
    But at what cost? A miserable performance IMO but strangely enough, unlike other results even with the south direction, market has been considerably decent to react.
    Disclosure - holder.

    upload_2019-2-21_7-14-19.png


    upload_2019-2-21_7-15-1.png
     
  15. Miner

    Miner

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    Hi @tinhat
    Please refer to this report on BCI and MIN. Basically BCI sold of its iron ore asset at Kumina to MIN.

    upload_2019-2-21_7-16-46.png
     
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  16. Miner

    Miner

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    I am providing an extract of a job advertisement from MIN (yes, have posted same on HZR thread too). Basically, it is about MIN entering into oil and gas. I am not prejudging but hope they do not fall on traps like Freeport Mining by investing on PVD (not being Freeport's core business)
    the job advert says
    "What you can expect from MRL
    Our Energy Resources division is seeking an Engineering & Projects Manager (Oil & Gas) to support the business through the provision of cost-effective energy solutions to help us meet our business strategy for 2019/2020, and beyond.

    Reporting to our General Manager – Energy Resources, this role will lead a multidisciplinary engineering team, whilst managing the delivery of our projects safely, on schedule and within budget. This multi-faceted role includes a balance of both technical and management tasks and responsibilities where you will undertake in-house and outsourced engineering, with a strong focus on the execution of our power generation, heating and other hydrocarbon related projects.

    Some key projects currently being undertaken by the team include:

    • 50 MW Power Station (gas fired, reciprocating)
    • 82 km 10” high pressure gas pipeline
    • LNG Storage and Vapourisation Facility for a 10 MW power station
    • A synthetic graphite R&D facility (supporting design, fabrication and operation)"
    As a holder of both HZR and MIN, I am curious on last line - So HZR is not owned by MIN . Is the direction of their intention ? Time will tell if I am reading or not reading too much goss.
     
  17. So_Cynical

    So_Cynical The Contrarian Averager

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    Found a video that gives an overview of MIN's major projects.
    ~
     
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  18. rnr

    rnr

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    MIN re ASF 2019-12-21.png

    You can't help but get the feeling that MIN is setting up for a BO-HR.
    Having said that I am struggling with a wave count. (Thinking smaller degree W4 of W5)???
     
    Miner likes this.
  19. tinhat

    tinhat Pocket Calculator Operator

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    Ha! I came here because I was looking at the MIN chart right now and thinking that it is a tasty looking chart! A cup and handle has now formed on the chart with the handle forming since mid-Dec 19. There could be a nice breakout.

    upload_2020-1-12_21-45-7.png

    The 50 week MA turned positive in December '19 which is about when the chart broke the bearish trend of lower highs.
     
    Miner likes this.
  20. tinhat

    tinhat Pocket Calculator Operator

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    I also just had a look at the percentage shorted graph for MIN.
    upload_2020-1-12_22-18-26.png
    A quick question to those following MIN. What grade iron ore are they producing and what is the break-even price for their iron ore operations?
     
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