Charles: LOL! Well, at 50 to 53 cents a pop, it doesn't seem quite so bad in dollar terms. Imagine if Turtleback came out for trading with a billion shares o/s (reverse split recently to under 10 million shares, BTW) and we all had to start talking in terms of hundreds of thousands or millions of shares!
I decided to buy some trading shares here because:
1) Richard's e-mail from Maxam said that we'd finally get a report soon. I find it hard to believe that all the previous non-COC assays would suddently be invalidated by very poor COC assays, and I've a feeling the COC work involves the hot spots instead of the 0.05 stuff, so high COC numbers may help generate some interest. I am always worried about leach tests, however, because I don't know how much prior bulk testing of the recovery process has been done to determine its effectiveness & efficiency.
2) Although the next significant support level appears to be back around the 40 cent level, I didn't want to hold out for 10 cents more on the downside and miss a possible move back up on good news. After Thursday's fall, we seem to have bounced a bit, and the bid price and daily low trading price were moving up.
3) While I keep a core MXAM position, I'll do a short term trade too if it looks good to go. The last trade from 36 cents to 75 cents recouped my MGAU losses; now I need some action to help recoup my CHIP losses!
Cheers,
Rand |
