Hi Fletcher, The proverbial Parachute: Yes, the value of LMX in terms of it management, its ability to raise capital, and its claims both in Newfoundland and MEXICO will most likely off-set the price per share.
In the past few weeks, Investors have expressed concerns regarding its participation in the Wild Cat Oil well action in Newfoundland. Some like this actions others decided that they don't like LMX in NEWFOUNDLAND.
Obviously, the ones who decided oil wells didn't fit into their investment portfolios sold their positions. This was the first reason for the downward movement. Refer back to an earliar post on this thread on the WHYS of Newfoundland and LMX...That should give you more insight about this transaction. Recently, this BRE-X garbage has spilled over into the Junior Mine Index. This overall fear about scandal in the industry has put LMX and 100's of other juniors in a downward trend.
I have and will continue to support LMX because of the validity of its
projects and its management. If you feel that LMX continues to have WORTH - VALUE above and beyond it current stock price and that it has been a victim of investor emotions, Then you have answered your own
question.
Yes, LMX hasn't deviated from its corse to develope itself. Management
continues to work on the Vianey, Monja, Pajaro and Catarine mines/property. The savvy investor understands this WORTH and perhaps BUYS when everyone else sells and sells when everyone else BUYS. In my opinion, LMX will rebound from these levels because of its intrinsic
worth that is contain in its management,its financial abilities and its Claims-both in MEXICO and NEWFOUNDLAND.
Thanks for your support and questions.
Rich |
