First profit target reached – Changes to stop loss and profit target

Brad Holland

Brad has over 20 years experience in the Australian and US equities and options markets. Brad specialises in equities and options for capital growth, income generation and capital protection. He also specialises in finding opportunities in small to medium cap stocks. Brad holds RG146 - Securities & Managed Investments and Accredited Derivatives Adviser Level 2 qualifications.



April 5, 2022



High Conviction Report | MIN.AX

Only yesterday, we increased the first profit target on half on the Mineral Resources (MIN) position from $55.00 to $58.50. The first profit target was reached just after 1 pm today.

At 12:38 pm today, the company released a news announcement updating the market on its Wodgina Lithium mine. First spodumene production from Train1 is now expected in May 2022, and they are accelerating the resumption of production from Train 2. The market has reacted positively to this news, and we expect the share price to continue to move higher.

Lithium business update.

As a result of the strong move higher in the share price, we will once again look to make changes to the stop loss and profit target.

**TRADE ACTION**

The first profit target reached 150 MIN shares sold at $58.50. Resulting in a gross profit of $1,665.00

Stop loss on 150 shares will be moved from $44.00 to $48.00. We have now moved the stop loss above the purchase price of the initial position, $47.40.

The target price increased from $65.00 to $70.00

This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. You should seek professional investment advice before making any investment decision.