MEL - Meridian Energy

[Joshuatree]

Tiwai Pt deal done with Meridian no paywall barrier here.

[mouse]

Much ado about nothing. Exactly how much is Tiwai paying for the electricity??

[Joshuatree]

Weird statement mouse.Im expecting it to be good for my Meridian shares.

[horus1]

My guess is 4 - 5 cents a unit. I pay 25. It was 3

[mouse]

Weird statement mouse.Im expecting it to be good for my Meridian shares.

This is from the ODT.
Contact Energy has also put out a statement saying it has signed a deal with Meridian Energy to supply 80 MW of energy to the smelter.

So it seems that some of the power will come from Contact. Maybe another power company is also involved, besides Meridian and Contact?

[Hoop]

240 up 15c

[Joshuatree]

MEL up 6.22%
GNE up 3.51%
CEN up 3.3%
MRP up 3.26%
TPW up 2.17%

[cyclist]

Well, that was the shortest party I have ever attended. Was buying some more and frantically lowering my bid, but was too slow. Got swept away at $2.29 before my change to $2.26 was acknowledged. Damn!

Looks like some were keen to use this to exit. I think overall it is a good positive announcement - certainly better than the alternative (shutdown)!

[Joshuatree]

Yes it was a low risk way to make quick buck esp after our Poll re Tiwai gave nz the guidance No selling from me though; hopeful longer term holder here.S/P still up re 3.56% but spread with other Gentailers decreasing atp.

[Hoop]

Well, that was the shortest party I have ever attended. Was buying some more and frantically lowering my bid, but was too slow. Got swept away at $2.29 before my change to $2.26 was acknowledged. Damn!

Looks like some were keen to use this to exit. I think overall it is a good positive announcement - certainly better than the alternative (shutdown)!

Yes it is still a bullish event.
MEL broke out on Friday It is common to see a throwback to the break out point. It gives traders a second chance to buy in...
Its a little unusual to see this event happening on the same day...It shows maybe some of those Friday punters and some frustrated investors that got locked in are now gone...226 low is gone too...Have to be quick..eh?

EDIT the lunchtime crowd may make MEL an interesting watch