After reading and hearing lots of great things about MTO from several sources i put money into this stocked because i really wanted to join with this Company
That was when Gold was about $600 and Silver was around $7-8
.....And the YEARS have just rolled on and on...and on
Now Gold is over %1500 and Silver is around $50
My Hair is now going Grey and my toddler is now about to enter School
And Currently this Stock is now about 1/4 of the price i paid for it all those many...many...YEARS Ago.
I keep seeing Serge and Mr. Perry on video telling the same great story they told me back in the day
I sold the lions share of my Metanor shares today, bought EXK, SVM, and SHVLF. Metanor management is weak, so I trimmed shares and bought into better managed PM producers. Still got over a quarter of my holdings though, so I think long term the stock should do fine. If you have held for years then hang in there, hope springs eternal.
I like silver a lot too, today i bought two silver miners and one primary gold junior that also mines a lot of silver. And both EXK and SVM mine gold. EXK mines no base metal, just Ag and Au.
Timing is everything in the small cap gold and silver junior miner space. I guess you know that already. I've been burned before, now I don't buy any miner that's not producing. At least Metanor has started producing gold. And Sandstorm is helping with financing. I like it, got in a few weeks ago around thrity-six cents.
Here's my sad story how I lost big with a gold junior. I got into New Guinea Gold, and it diluted many times and came up with interesting excuses for lousy production numbers, but bottom line: it has terrible management and the stock is still under ten cents.
Here's something you might try, I have bought a bunch of Starcore lately, it's SAM on the Toronto Exchange. It mines gold and silver plus some base metals in Mexico. It's ttm revenue is over $35 Million, and it's Market Cap is tiny, giving it the lowest Price to Sales ratio of any miner I know of in the PM universe. It's under contract to sell gold to Goldcorp at $731 per Au oz, but that contract only goes through 1/31/2013, after that it will sell it's gold on the open market. It trades at 16 cents Canadian. It looks like the stock may start moving in a big with the approach the expiration of the forced sell of Au to GG. And it mines a lot of Ag too. Eric Sprott recently purchased about 20% of Starcore.
My three gold miners are CGR(Claude), SHVLF(Starcore), and MEAOF(Metanor). I think I might pick up some BRD and/or some STADF at some point if they keep lagging, those two, especially ATADF, seem very cheap here for all the gold that they produce.
It looks as though, unfortunately, MTO delivered reassuring newsflow into a gold downdraft day which was unlucky timing. It happens, not managements fault. As a consequence the hedgies were given the opportunity to pour water on the news feed to kill any buying momentum so have bought some more time to exit. Note continued high volume days followed by a sudden likely lack of volume with both containing candle altering trades in the last minute or two of trading. Jitney and anonymous are likely one of the same and trading incestuously to paint the chart.
It makes little or no difference to where MTO is heading as the decision to exit shorts has been made but it would have been nice to bottleneck them out in a hurry. Life of mine and grades are the catalysts to get MTO way way over the dollar mark and both are coming.
We have not yet had the spike I talked of, this remains further covering under stealth. I would expect a slight pullback as we continue to build a base leading into newsflow. The newsflow will be tiered to chart support.
In case you feel sorry for the hedge funds, don't, once they have closed out they will reverse and go long to put all the warrants they acquired through the placements 'in the money'.
I don't think anyone is reading this anymore so I'll stop now.
I own both Sandstorm and Metanor. In fact is was via Sandstorm I got introduced to Metanor because I know Sandstorm management don't buy gold streams in companies that do not, well, stream!!
On that basis it takes a whole load of risk off the table knowing that Sandstorm have done their due diligence. The fact that Metanor is so cheap compared to it's asset base makes it a no brainer imho. Nobody is an any particular rush to get into the stock because of the time drag but many will be watching for the first sign of movement. Imho when it does start to move the momentum could be very very impressive and so it should be at 1/6 valuation of just it's infrastructure and permits and that's completely ignoring the gold.
Sorry to hear that you got in that soon...my time horizon is the end of this year to the end of next year to see some actual movement in this thing. Until Bachelor Lake comes online this thing is dead. I'm watching the price of gold closely and as long as it breaks back above
$1500 I will be adding more here....I'm actually hoping it hits $.20 first....just be patient give it one more year and it should move higher....whether it's going to get to $1 or not by then....I'm not sure...I can see $.60 hopefully by the end of the year if not early into next year.
The stock has suffered from not being a priority to investors because of not only the time lag but the stock was acquired by the hedge funds during the numerous placements enabling them to short on market and cover their shorts 'off market'. It's been a slow grind down but is a very common situation. I believe we will get the turn point within a week or so as the Sandstorm deal has stolen access to stock availability to cover because it no longer necessitates the company to do a further placement. You may despise those on the short side but when momentum reverses then they will give the stock a huge boost upwards.