Rick,
I have to agree that this stock is undervalued given the potential prospects of this play, and that the price has been driven downward to it's present levels almost singularly by a lack news on the progress and development of MLSM's program. The market seems to indicate that it has leveled out at the present levels as volume seems to be somewhat consistent and there is not an indication of sell off or accumulation, except for few newcomers and impatient sellers. Most investors are waiting it out but I will grant you that patience is strained by MLSM not informing us officially, of the situation. MLSM has already told us that a NR is coming, and that is not soon enough for my liking!
FWIW, my sources have confirmed to me that drilling WILL start next week. With this in mind, we can assume only that the cheque from HDG has cleared and that funds are in place for the program to begin. I also have to believe since HDG now has a vested interest in this play, I am going to bet that they will, to the best of their abilities and influence, see to it, that the play is conducted in a fashion that allows them to exit with a profit, or at least, protect their initial investment. I think that spells out at a minimum of at least 50 to 70 cents. "Ernie, if you are listening, SEND OUT THE NR!!!"
Regards,
Dirtpoor |
