Hi warmcamp. Put on a few cash covered puts, Feb 11s, a couple of days ago. Will probably get them put to me and then will use MFN shares to generate covered call income. Writing the puts lowered my entry point and a couple of months of front month covered calls will reduce it more.
I think MFN is on the road to recovery with the 2nd leach pad going and repairs will be made on the 1st pad this year. I like MFN prospects at this time and getting into a stock that is rehabilitating itself can be a good play if one can get the entry point right.
Why would anyone be interested?...1. No proof the resource is as claimed, Performance says no...2. No evidence this mess can be fixed even if the resource does exist...3. If Top Management is lying...Maybe the resource is just being stolen, which means they will fight to keep the company....Fact is that this stock is a Perma Dog until it meets the original plan..Good Luck