|Merrill Lynch World Mining Tst
||EPS - Basic
||Market Cap (m)
Real-Time news about Mer.L.World Mng (London Stock Exchange): 0 recent articles
|b00m: Well I'm trading the warrants but I don't know if it's those from the same batch as you were issued with, or some a subsequent issue.
You need to find them and look at the exercise date.
If they haven't expired, they are (today) worth £2 each. Expect that value to yo-yo on % differences about 3x greater than changes in the underlying share price.
These have been very profitable to trade recently if you were reasonably on the ball spotting the peaks and troughs.
|arja: yes , discount may be unreasonably wide even after the tumble yesterday. NAV probably now about 730p or so I guess . MLW share price still fell sharply fron it's 883 peak along with all metal stocks . Hopefully a recovery today !|
|scatty: The first time (undiluted) NAV has breached £8 - as MLW has been buying stock, the impact of warrant exercise will be minimised. The discount has widened, as the share price has anticipated mining equities coming off the boil a bit after recent runs. Compare the almost 50%+ moves in BLT/RIO recently - there has not been such follow through in MLW. Despite recent rises, still looks attractive IMO.|
|idioterna: Arja, you can place orders directly on the book with GNI, no need to go through the MMs. In fact for an extra £10 you can even put your order directly on the book with E*Trade, thereby bypassing the MM spread. There can be a few entertaining reactions when you place a big order on a small volume stock just above the bid ;-) Nowadays, we are all Market Makers. Sure SETS is a better system, but it only comes into its own with high volume shares. With low volume it's pretty easy to manipulate a share price, albeit briefly, whether you are a Market Maker in a SEAQ environment or a big instituion in an electronically automated environment. Personally, I am still inclined to believe that the dip in MLW had more to do with the masses rushing to lock in pension profits rather than any active market manipulation.|
|archieandrews: i disagree. the share price corresponds to the NAV quite closely (albeit with a c.10% discount), but in these turbulent markets it can lose touch a little one way or the other. the portfolio is designed to track and better its benchmark, the HSBC Global Mining Index, and i suspect that this index is the primary factor in intraday price moves. reporting NAV just one day in arrears is a model of transparency imo.
from being an absolute bargain, even trading at a discount from time to time in recent weeks, the warrants now represent appallingly bad technical value. being well in the money as they have been, they should have been moving something like penny for penny with the shares in recent weeks, but from their high point on july 23, the shares have lost 110p and the warrants only 50p. we now have the situation that 70p of the 107p warrant price is time value. all things being equal, this is unsustainable imo.|
|scatty: Good rise in NAV reported today, share price following - discount to diluted NAV over 50p. If/when warrants are exercised next year, has the board indicated they will seek to close the discount with share buybacks from the proceeds, and do the current share buybacks stem from proceeds of previous warrant exercise?|
|arja: does look like warrant price could go higher after long period of consolidation. Downsize risk appears limited if MLW share price does go lower in short term as warrants will have time value . I bought a few more today as seemed irrestible !!|
|archieandrews: no conflict. the earlier post details the basis on which the exercise prices were to be determined. the actual prices in my post were set in stone at close of business on 16th march 2006. there are no other warrants.
i agree the warrant price isn't reacting much at all to swings in the mlw price and has a marked tendency to lag, but i'm certain it will if the mlw price should move decisively in either direction. the warrant price is driven by warrant supply and demand, so being thinly traded and markets being what they are it will find its own level which may sometimes look strange.
if the spread was narrower and the warrant therefore more tradeable things might look a bit different, but it doesn't alter the fact that the warrants have quite high intrisic value and modest time value at current prices.|
|arja: good rises in OZ in ZFX,BHP and RIO may help MLW share price today .|
|hectorp: as Sybil would say, 'We know, we know!" ( Fawlty Towers).
we have been shouting the bull mining and minerals market from the rooftops but the MLW share price won't respond.
- 'Jambo' says there is a £20 M seller, but no evidence today.
You know, I wonder if I might get round to buying some of the actual Trust units as well. City Nat Resources, where I hold 50K stock, are moving up well. But not this beastie.
Jambo- how do you know there is a 20M seller? are you in the City ?
PS Jambo I see Robbo wants a mill for Hartley - quite right, he's a feisty guy our Robbo.|
Merrill Lynch World Mining share price data is direct from the London Stock Exchange