To all, I'd like to express my opinion on this play. I own no position at the moment and I am objective most of the time vs any situations.
Following this thread for a while I noticed that a lot of peoples mentioned doing DD on MINE. To me it is almost impossible to do a good DD because of the size of the company and all the different aspects of it: drilling transportation of cores, lab analysis, geologist analysis, far away country, etc... If we take as an example BXM then you may think you did good DD because you looked at the drill results, spoke with them, see that they have a former BArrick director, are recommended by the best known firms and I could go on... but despite all this, it was a scam.
I am not saying that MINE is a scam, just that it is very difficult to be 100% sure of any DD we do. In this case, an unknown geologist publishes a report, do we know this guy? I don't. Maybe searching for any prior work he did would be good info or find out about his reputation. Then you have a loosy website with almost no info but a lot of pictures and maps... One might believe that they just wanna show off. Then some insider selling or intention to sell, who knows yet. Then you have a 2-3 Billion dollar potential in the ground but a market cap of barely 10 M$. Then you have a lot of buying around 7-9 cents. Then you have a price hike to almost double, meaning a lot of peoples will sell half their position soon.
I would not feel confident to buy this stock with money I cannot afford to loose. But if one has extra gambling money then it may be a great opportunity to play because despite everything they could have what they claim...and a few thousands dollars could change to a Million $. I would not play my pension money for sure. Even if they are not a scam, maybe they are serious, credible and professional and will end up with only 300 000 oz in the ground. You can count on your fingers the number of > than 50 Million Oz gold mine in history.
For all the shareholders I hope I am wrong, just be careful out there and
.......DIVERSIFY.
Regards
Dan , (Sorry for the length)
|
