How much does Argentina have to do with MUX weakness
Been watching MUX for a while as well...Rob McEwen (CEO)is probably one of the best out there and will put lots of effort into making the company work aince he doesn't get a salary and owns a substantial amount of shares...A CEO like that is your friend..However, like you said Argentina is an issue and that bothers me as well..If Argentina nationalized MUX could recover from it but it because they have other projects would take a while..
The other thing that bothers me is that MUX doesn't have very high grade gold ore and they have more shares outstanding than I would like from a junior..Their current outstanding shares are not reflected in the market cap on yahoo likely because of the merger, but they ahve over 267 million shares outstanding...So at $4 it a billion dollar market cap....Was close to buying MUX but I think I'll pass for now.
Thank you for your feedback. I agree with your comments and also believe passing for now makes sense. It's hard not to be impatient but waiting might result in a better entry price. If the stock runs away from me that's okay.
Yeah, it's hard sitting there waiting...I've been on edge waiting to buy it because I like the CEO....At this point I would only buy at lower prices...
One thing I'm watching is the HUI which the pattern suggests a target price of 370-350 downside objective...If it hits 370 then I'll be looking really hard..perhaps MUX will hit that $2.50 price you're looking for.