Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Aristocrats (tm) -- Ignore unavailable to you. Want to Upgrade?

To: sense who wrote (3647)	4/18/2022 1:45:27 PM
From: sense	Read Replies (2) \| Respond to of 5610

I'm noticing a couple of signs of life out of MUX... There's a few bits of recent news... two or three bits... none of it bad... And, a sudden minor flurry of activity in the options trade today... which has been essentially dead since March 7th... In typical McEwen fashion... the news seems a tad understated... On March 10th They announced 2022 guidance on production... And, yeah, OK... it was down a bit last year at two mines, with some Covid issues, bad weather and, you know... its the mining business... McEwen Mining Provides 2022 Guidance What it doesn't say, is "oh yeah... and, through the course of the year, we cut our costs by half"... which probably most miners might choose to use as the headline to run with ? And, as operating difficulties in the mines dinked the Q1 cash flow... Rob wrote them a check... and they removed the sureties from loans advanced... saving millions in near term maturities... and giving them some years of breathing room... along with a pad in the wallet to provide a bit of a cushion... McEwen Mining Amends Term Loan Facility and Raises Additional $15 Million from Rob McEwen I note they also carefully avoided any mention of McEwen Copper, Los Azules, or Elder Creek... what they're doing with them... or anything about planning for the IPO... supposed to be this year ? July 6, 2021: MUX Creates McEwen Copper Which Announces $80 Million Series B Private Placement to Advance the Los Azules Copper Project Los Azules is one of the world's largest undeveloped high grade open pit copper projects that contains significant further growth potential. According to the project’s Preliminary Economic Assessment (PEA) completed in 2017, during the first 10 of the 36 years of operations the project is anticipated to be the world's 25th largest copper producer and a lowest cost quartile producer. Also, no mention of any of the development and exploration projects... ? Clocks ticking lounder... ? Hmmm. It's currently cheap... likely at the base on the right wing of a cup and handle pattern forming... on the daily...that's nested inside another, larger pattern on the weekly... and, on the weekly, the bollies are pinching... And, at $0.85 now... its optionable at $1... The March 2020 low was ~$0.50... and it popped over $1.50 in August of 2020, in February of 2012, and again in June of 2021. It's made that move by taking four months... or, it's done it in two weeks... as it did last time the bollies pinched... which doesn't mean it will this time, etc. Dr. Copper has been moving higher like most commodities, but, leading them, as usual... It bottomed at $2.20 in March 2020... hit $4.77 in the bull market peak in May of 2021... and has mostly dithered, since... but, sustains its uptrend, and it spiked higher than that old high water mark briefly in February this year...[while the stock dropped from $1 down to $0.75, naturally]... and, today... continuing its gradual ascent... finally moved above it, now at $4.79... more than a double off the March 2020 lows... while the stock is... only 30% higher than its March 2020 lows ? But, they're a copper explorer... only a producer of gold, for now /s So, yeah... that's probably one worth having a few shares of...