My thoughts on Mindoro (MIO:ase)...
Well MIO like most other junior mining cos took a hit after BXM et al and it may be a while before junior mining cos are a concern again. There are some positives about the Bre-X affair: like small investors are getting REAL again, so that a couple million oz. find is respectable...
Specifically, MIO is well-financed, appears to have a good technical team with experience in the field, and has good prospects in Myanmar, Philippines and Indonesia. The Indo properties may have to wait awhile until all the permits are signed, etc. MIO seems to be careful about crossing their t's and dotting their i's and all that stuff. You got the recent info on the Philippines which is in the right direction...
And Myanmar... after the monsoons are finished, expect drilling to begin on the Myanmar property in the 1st Q. I was speaking with Penny Gould this past summer in MIO's Edmonton offices and got the impression that they can not wait to develop their drill targets and start drilling. In fact, she told me that previously MIO had seriously considered pulling out of Myanmar (due to red tape, blah, blah), but after doing the geomagnetic survey, ground survey, geochem(?) and stream sediment(?) and getting big values on several grab samples, MIO did a complete 180 degree turn-around on any further thoughts of pulling out (this was never part of any press release, because it is quite subjective). My hunch is that they WILL hit good values this spring. This hunch is not based upon wishful thinking... rather MIO seems to very carefully, analytically and scientically.. excuse the cliche... PLAN THEIR WORK and WORK THEIR PLAN.
As for their share price: if they hit good values, expect $2-3, with great values... perhaps $8+
You probably guessed that I am long on MIO.
Regards,
stephen |
