MRC.AX

[Cooper]

Does anyone have an opinion as to whether or not MRC (Mineral Resources) are going to get clearance to mine at Xolobeni? Have spent a fair bit of time looking for hints either way but it still feels like it's a good old fashioned 50/50. Did hold some but then chickened out and sold when they dropped to 24c, thinking it was red rover for xolobeni and that I'd better get out (such is my ignorance!) Any opinions at all greatly welcomed...

[Cooper]

Announcement of a Bonus rights issue, and that their Mineral Lease (nb not a clearance to mine!) which I take as a bit of a vote of confidence that Xolobeni will go ahead... current political situation in Sth Africa seems to be a little more accomodating to miners (desire to create jobs, capital inflow) BUT the minister for the environment has staked a lot of political capital on making sure Xolobeni does not go ahead. Interesting to see what happens but seriously thinking of either buying now, waiting to buy some options or watching like a hawk for the announcement that they have clearance to mine. Feel like a [:o)]for selling at 24...

[Cooper]

Down 11% today after the option news. Any holders out there or anyone with advice regarding purchasing a company around options issue time, especially whether it would be better to wait and buy options, or buy head shares now and get free options?