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MineFinders Corp. Ltd. Ordinary Message Board

  • fjackny99 fjackny99 Jul 22, 2008 11:45 AM Flag

    MFN Looks Totally Manipulated

    50,000 shares traded and down over 5%?

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    • If 'manipulated' means for you that some people sell shares then it is true, stock is manipulated. However, if you use 'manipulated' word to identify something irrational then it is not true.
      MFN put itself in bad publicity spot, so negative implications to stock price are quite rational. It will require nothing less than actual production start to fix this situation.

      • 2 Replies to warmcamp
      • I have concluded that to many people, "manipulated" is a euphemism for "the stock went the opposite direction than I would have liked". I have never seen a post yet where someone said the stock was manipulated in a direction favorable to the position of the poster.

        That said, MFN did get hit a little harder than most in the sector the last few days. It is possible that some of that was related to the change of Auditor, but more likely that the problem is that until they are in production, MFN remains a junior. Even then the diffence with others in the sector is very slight:

        It would be nice to hear that leaching has commenced, and a firm schedule for the first pour. The process of "loading the leaching pad" has been going on a long time, and reports of it are getting old.

      • I agree, MFN also has something else going on, they should be in production right now. It looks like a part of its work force had joined the blockade. All we need to do is sit tight and wait. It's the hardest part of the investment game, waiting for the technicals to catch up to the fundamentals. Fundamentals always win.

    • "MFN IR dept likely monitors this board and they can get dissatisfied with certain messages"
      What does that mean?
      Will the get mad enough and issue a press release?

      Here is the link and the lead in to the article.

      The ejidatarios of Huizopa disagree with the attitude taken by a small group of colleagues in the same ejido, who have involving non-members, this was stated on Friday,GGLG:2006-17,GGLG:en%26sa%3DN%26as_qdr%3Dall&usg=ALkJrhhxA2QIFlP1nJbFjXGeRDMeAkL1FQ

    • It seems that another opportunity to buy in 9s is in cards. In regard to your points:
      1. Production news - I am unsure if 'firm timetable' is relevant to this company. At some point market gets an opinion that may take years to change.
      2. Banking - it seems that end of world is postponed, so some money rotated back to normalcy. After all general-purpose mutual funds will keep money in C, not in MFN.
      3. Oil prices - actually, lower oil price is the best thing for gold miners, i.e. sentiment hurts, but earnings gain. Frankly, I prefer earnings.
      4. USD - it was oversold to such an extent that some rebound is just inevitable.

      General feelings: I like the idea of buying in 9s. Market normalization should bring some cash back to equities, but most funds will go to 'defensive' sectors due to prevalently negative sentiments. Regardless to (or because of) all management lapses, MFN is still undervalued, so it is a natural destination.

    • I can't argue with your chart read, nor with the fact that a stop would have worked well here. The idea is to get more right than wrong over the long term. Regarding the chart, I agree that there is strong support at 9.73-10, and hopefully that will hold.

      We have several different factors at work here that will determine the future direction:
      1. Production news - If there is new regarding leaching and/or a first pour, with a firm timetable for being cash flow positive, that should be a big positive. If there is news of more delays, that would be a big negative.
      2. Banking/FNM/FRE - How the ongoing mortgage situation plays out will have a great deal to do with the value of gold/silver.
      3. Oil Prices - The apparently popped oil bubble currently is hurting some other commodities, including gold.
      4. The USD - The USD can't make up its mind which way it is going to move. It has made several moves at breaking down, but each time support at 71.8 has held. Eventually it will establish a new direction, and that will help determine the future price of gold/silver.