what is wrong with this stock? with gold near 1000 we should be at 15. instead, when gold is up huge, we are up a few cents. i have to say, i'm ready for a buyout at 12. i know it's worth more, but i'm tired of holding onto it. i refuse to sell here, but would sell at least a chunk of it at 12 just to help me move on from what is almost becoming an addiction/obsession.
First earnings numbers will not come out until August, and even at that point they will not be complete. MFN is partially in commercial production in Q2 and full production rates will not be achieved until the end of summer; i.e. full production earnings will be known in November only. It means uncertainty while gold run-up promises sure earning growth in companies already in full production. Also, there are investors who bought in $3s, $4s, etc. They can lock in profit now.
In general junior stocks move differently than e.g. major/midtier producers. They may lag for a while and then catch up in one sudden surge. If MFN executes properly, and at this moment it looks this way, then price appreciation will come in time. Also stock price is already well off lows and stock is not extremely undervalued as it was some time ago.
Basically, there are too many reasons that can cause temporary underperformance. For example, MFN can be in negotiations to buy another company; or some institution(s) decided that selling in May tradition should be followed literally. It is all unknown so it is not worth serious discussion. If company will release material news that may explain current price weakness then it would be discussable.
I agree with you 100%. With all the recent "excellent" news about MFN performance and fundamentals I find results very dissapointing and mediocre. I think a few f....ng cents per share will be my only reward before moving to another real miner like GG or NEM or ABX.
I am also surprised but time will prevail. This stock occassionally jumps 8 or 10 percent all of a sudden too. You have to be a little more tolerant of the odd behavior with smaller capitalized stocks. The value is there so I'm not worried. It will show up in the stock price sooner or later.
Hello Tom. I agree. IMO MFN has established a floor of 9. With the Canada dolllar up vs the U.S. dollar greatly... With silver over 15 and gold near 1000.......Our Dolores mine has a 15 year mine life, that plus our other exploration's for the future. Silver and Gold has no debt. Silver and Gold are real money. IMO the whole world is going through this experiment since 1971 that political people can solve the world's problems simply by printing money. The people will not be fooled. From centuries past and from the Bible gold and silver are real money. IMO MFN is a buy. The gold/xau ratio is over 6. In the past 5 was a strong buy for the miners. IMO with the gold and silver ETF's, folks do not want to take any risk. They are scared. But to get the silver and gold that you want,someone has put their sweat and determination to get it.