Minara Resources (MRE)

Stock Code


Stock Exchange


Minara Resources (MRE) is an exploration company principally focused on the Nickel and cobalt mining and metal production. Minara Resources is among the top 100 public companies listed on the Australian Stock Exchange. It listed on the Australian Stock Exchange on 17 March, 1994. MRE owns and operates the Murrin Murrin Nickel/Cobalt joint venture project, with Minara Resources Limited having a 60% interest in it while Glencore International AG having 40% interest in it. The Murrin Murrin Project is based near Leonora in northern goldfields of Western Australia region.

All Ordinaries Stocks Which Overperformed

All Ordinaries Stocks Which Overperformed from these All Ordinaries, top 500 companies this week, on the Australian Securities Exchange (ASX) this 51st week: 20th December to 24th December 2010. These stocks increased their stock price by the largest percentage on the Australian sharemarket. All Ords stocks which overperformed includes: PGA, GIR, ARH, KRL, CAA, SDL, GRY, RFE, CXM, MRE, ALD, RED, DYE, MPO, BRG.

Minara Resources Dividends

1 September, 2010 - 13:40

Peruse the dividend history for MINARA RESOURCES LIMITED. Dividends are a distribution of a company's profit to its shareholders and paid out in the form of a cash dividend. You are eligible to receive MRE dividends if you own the MINARA RESOURCES LIMITED shares on the ex-dividend date. Traders and investors must purchase the stock before the exdividend date to be entitled to the dividend. The previous owner of the shares will receive the MRE dividend if you buy the stocks on or after the ex dividend date.

Top 3 Best Performers on the ASX This Week

Ansell (ANN), an Australia based company that operates in the gloves and other protective product industry was the best performer of the week in ASX100 with a gain of 11.6 percent or $1.20 closing the week at $11.52 (market capitalisation: $1560 million).

Goodman Group (GMG): Winner for the Week 23 of 2009

Goodman Group (GMG) which was previously Macquarie Goodman Group that operates in the business of, ownership, development and management of business and industrial spaces was the best performer in ASX100 adding 48 percent or 12 cents at its stock price. The list of best performing stocks for the week 23 of year 2009 was a mixture of Mining, Exploration and Real Estate companies: Goodman Group (GMG), Boart Longyear (BLY), Mirvac Group (MGR), Minara Resources (MRE).

Worst Stock Performers for Week 23 of 2008

Minara Resources (MRE) was the overall worst performing stock in either f the ASX100 and ASX200 indices taking in a 18.56 percent decrease in their share price on the Australian stock exchange. Although the overall loser on the Australian markets this week goes to Clive Peeters (CPR) which shed 25 percent closing the week at 50 cents.

AED Oil: Worst Performer for Week 22 of 2008

AED Oil was the overall worst performing stock taking in a 21.14 percent decrease. The technical price chart above is for AED and shows a 10, 100 MA on a candlestick chart, each candle representing 3 trading days. It was a mixture of mining and metal exploration, aviation and resources companies who were among the worst performing stocks for the week 22 of 2008 on the Australian sharemarket: Lihir Gold (LHG), Macquarie Airports (MAP), BHP Billiton (BHP), AED Oil (AED), Minara Resources (MRE), St. Barbara (SBM).

Independence Group (IGO): Loser

Independence Group (IGO) was the worst performing company on the Australian stockmarket (Loser of the week for week 20 of 2007). The company was also the worst performer on the ASX200 index. The Independence Group share price lost 92 cents or 11 percent and closing the week at $7.40. The loss can be attributed to the fact that the nickel price had dropped. ASX 200 closed the week at 6252.8 and the ALL Ordinaries closed the week on 6273.3.

Santos, Minara, Straits Resources & Incitiec Pivot Big Movers

Other than Coates Hire, other top performers were: Oil producer Santos increased their value by $1.33 or 11.8 percent to close at $12.58. Other big movers this week were from the ASX200 index: Minara closing $8.69, increased by $1.23 or 16.5 percent. Straits Resources (SRL) closed at $4.35, increasing by 54 cents or 14.17 percent. Finally Incitec Pivot closed at $52.75 increasing their company value by $6.48 or 14 percent

Minara Resources (MRE) Shares Recommendation

Minara Resources (MRE) have a maintained Buy shares recommendation and a share price target of $6.14 (was $6.07) from share analyst Citigroup Research Equities (CIR). The analyst notes that the Minara Resources December quarter nickel production of 8,262t was slightly lower than CIR expected but cobalt output of 616t was a record. The 10% QoQ decline was due to the 12 day shut down in November to refurbish the acid plant. Since the restart the plant has been performing close to the 100tpd rate. Production guidance of 32-35,000t for CY07 was provided that allows for some second half output from the heap leach and the planned 28 day shut down in October/November'07. Our forecast of 34,200t includes 875t of leach product. The record second half production coincided with record nickel prices (average of US$15/lb for the final quarter) resulting in cash of $310m. Capex over the next six months is limited to ~$21m for completion of the new water bore system (MRE share ~$12m) and SIB expenditure (~$9m). Likely sustained high nickel prices and thus ongoing margins of ~US$10-$11/lb could enable the company to pay more generous dividends. CIR’s next 12 month dividend forecast (includes CY06 final) has been increased to $1.06/share, a yield of ~19%. Minara Resources was a Loser of the Week in the first week of 2007. A previous MRE stock recommendation from July 2006.

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