Phil, you asked
"Dave: When can we expect some news that will send MGR back over the $1/share level?"
We're working on it. It's a tough market, and trying to deal with a business on the other side of the globe is also difficult at the best of times. It can be made easier if you have a good partner.....
A few junior stocks are showing strength lately, showing that the market does have an appetite for certain speculative ventures. For the most part, these hot stocks are years away from production. We've watched and recognize that Bumbat, although capable of generating a very significant cash-flow even at these gold prices, is viewed as a production opportunity, not speculative expansion.
The company had therefor acquired and advanced its Altai properties. It also acquired and advanced the Mazenod Lake NWT Olympic Dam projects. Recently the company announced the acquisition of a 50% interest in three past producing, high-grade silver mines, and most recently, announced an agreement, subject to certain conditions, to increase that interest to 100%.
We're doing what we can, and eventually it will be recognized that the company is more than one project. We'll still push on Bumbat, but the schedule to sell their interest, and allow the project to restart is in our JV partner's hands. Our other project are being advanced. Watch these announcements as well. They're significant.
Dave |
