Thoughts on MCR & PAN?
What are the prospects of PAN and MCR both have been in downtrend for a long time?
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Answer
Hi Ian,
Mincor (MCR) has been bid for and there is the prospect of another bid forthcoming from BHP. If we held, we would see how it all played out, however the risk/rewards does not stack up to be a buyer.
I was reading some of my trading notes the other day and Panoramic Resources (PAN) was actually an IPO I participated in back in 2001 at 20c a share. It got to a high above $4 at one stage and is now back to 16c showing the chequered history of the company. I don’t know a lot about their assets these days, and the chart continues to look poor – not one for MM.
