Merrill Lynch World Mining Share Discussion Threads

[archieandrews] 14/7/2007 23:38

the warrants are very good value for money just now. the exercise date is feb 2008 but the premium is tiny and the the gearing is over 4:1. the place to be if you think that the markets and the miners have further to go imo.

[nephin] 14/7/2007 14:18

The week-end press are going crazy over the big miners, is it time to go large with this share and its warrants?

[arja] 11/7/2007 08:56

ok. discount to NAV widening it seems which iks why this stock is hard to pick at times. I sold my shares ( CFD) at 611 and also my warrants but watching carefully to re-enter when wall street settles ! I USUALLY find that I pay more than I sold for when I get back in and wide spread does not help!!

[archieandrews] 09/7/2007 14:14

sorry, no idea.

[arja] 09/7/2007 13:59

archieandrews,
do you happen to know if they use the OZ price to value stocks like BHp ( blt) and RIO when calculating NAV ? It can make quite a difference with RIO in Uk trading at a 10% discount to oz price !

[bionicdog] 09/7/2007 13:41

Offending post has now been removed.

[archieandrews] 09/7/2007 13:39

stanp duty is irritating full stop. i guess that covered warrants are treated like bets so no stamp duty. the mlw discount is a couple of percent wider than the recent average but i'm bemused that there is such a discount at all given their excellent record in recent years. the warrants are trading at roughly nil premium again so are very good value.

[arja] 09/7/2007 10:32

thanks archieandrews. Bit irritating as seems wrong when I do not own the stock ! Must be legal I guess but so many unfair laws ! MLW is a strange stock and nevere sure how it will react to the base metal stocks - I see the discount to NAV is widening again !

[archieandrews] 08/7/2007 23:16

this is correct for traditional warrants like mlwt. there is no stamp duty on the new-fangled covered warrants.

[arja] 02/7/2007 15:57

etrade charge stamp duty when buying the warrants ! anyone knbow if it is correct as I think not ??

[bionicdog] 26/6/2007 17:00

nb
Not holding at present , but I will be attempting to catch the falling knife.

[archieandrews] 22/6/2007 22:26

i put the price anomalies down to lack of interest in the warrants, and the discouragingly large spread. it's only when they become quite obviously overpriced or underpriced that folk step up to deal and without volume things can easily get out of kilter. i'm sure the mms principal ambition is to balance their book irrespective of whether the warrants are cheap or not, so it mainly comes down to supply and demand and apathy.

perhaps worth remembering that these warrants were freebies on the basis of one for five, and trade at only a fifth the price of the shares, so for many mlw holders their warrants are of little financial significance ( 1/25) compared to their mlw holding.

it is our good fortune as private investors investing modest sums that such price anomalies can present opportunities, and mlw/mlwt is far from unique in this respect.

[buffin] 22/6/2007 16:21

Oh another conspiracy theory. Look, if they misquote, the market (buyers and sellers) correct them.

They quote on them independently as far as I can see.

[arja] 22/6/2007 13:23

indeed but maybe due to MM involvement and their attempts to manipulate and mislead ! have a nice weekend .

[archieandrews] 21/6/2007 15:20

they lag on the way down and they lag on the way up. strange but true.

[arja] 21/6/2007 12:42

the warrants are a strange beast. trading at premium to physical today as physical drops !

[arja] 20/6/2007 13:09

and lagging again as base metal stocks all higher today . May still get to 607 or 608 today if Dow behaves itself!!

[arja] 20/6/2007 11:58

wide spread is sickening !

[buffin] 18/6/2007 14:51

Diluted NAV 659.36, +8.92p = 1.4%

[arja] 18/6/2007 14:27

warrants seem to go in opposite direction to shares at times- catching up today I guess!

[nephin] 18/6/2007 11:20

I've been buying the warrants since they were 70p, I'm in for some more today

[ian davenport] 18/6/2007 10:06

good point Archie - forget to check what it was down from!
oh well, its a week or two duration trade, by then BHP will have overpaid for Alcoa, someone will have bought out Rio, and so that odd couple of p too much that I paid wont matter!

[archieandrews] 18/6/2007 09:57

looking at the trades on friday, the 611p UT closing trade was a few pence above the prevailing trades so i'm not surprised we appear to be a few pence down today. although bhp is up strongly today the mining index is only up a fraction, so things look reasonable to me. i have more warrants than shares, they are a real bargain at current prices.