I know you don't understand that nuances of the English language, so I repeat myself.
ALL OF YOUR POSTS ARE BASHING TROLL POSTS, BEING THOROUGHLY PERMEATED WITH SNIDE, INSULTING, SARCASM DIRECTED AT WHOMEVER YOU RESPOND TO.
I did a bit of research on this. The consensus is continued improving financials makes this a secondary issue.
There is only one producing miner in the industry that doesn't hold negative retained earnings. Barrick's NRE is 10.7 billion. Barrick isn't expected to fold anytime soon.
I'll say something. RBY actually ran into overbought at .041 today and corrected filling the tiny opening gap.. Though my CB is .15, I bought 40% of that at .014. I like this move.
Gold ended the day butting an overhead downtrend line.
If you want to short a top. Not for me.
I'm looking for a SPY call option play that should do 1000 to 2000%, by Friday. Hopefully, ES doesn't run overnight.
RM is MUX's founder. He has plowed 1 quarter of a billion dollars of his own money into the company. Has never traded out any of it. Has made many moves to cut costs, enlarging the company.
The company is now debt free, has cash, cash flow positive turning a profit and paying a small dividend, producing product. It just beat 26 million shares short who wanted MUX delisted. It's currently in the middle of a squeeze.
Where is the similarity??
Don't buy it. I'm not posting to get anyone to buy it. I'm not adding here. Adding only 'if' it fills a chart gap at 1.225. It may not if that was a true breakaway gap because of the retraction of the delisting notice.
Most MUX shareholders knew RM was never going to allow MUX to delist or do a reverse split. He went to bat and hit a home run.
McEwen is not a hired CEO.
He's the leader of the shareholders. He receives no compensation other than his shareholder value. No salary, no options.
The dividend was just one of a number of things RM did to shake the strangle hold of shorts in MUX.
Since, RM owns well over 25% of MUX stock, even though the dividend is a token for most shareholders. It was substantial for RM and he used his entire dividend in buying more shares.
johnny, because you like McEwen and probably own shares, you've most likely already seen this mornings PR.
TORONTO, Feb. 02, 2016 - McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce receipt of notification from the New York Stock Exchange (the “NYSE”) that it has regained compliance with the NYSE’s continued listing standards regarding the minimum price of its common stock.
Chief Owner, Rob McEwen, stated: “This is wonderful news and it highlights our strong operational performance in 2015, where we increased our gold/silver production, decreased our production cost/oz., generated free cash flow and steadily built our treasury over the year. Also, during the year we declared and paid our first ever semi-annual capital distribution. Our share price appreciation since July, 2015 reflects the value in exercising financial discipline and resisting the temptation to finance at the bottom of the market. We refused to give away our future upside. We have not and will not sell metal streams, sell royalties or hedge our future production. At this time, we are debt free, we have $33 million in cash and bullion. As you can see, we have no pressure on our balance sheet and we will be paying our second capital distribution on February 12th. This is a great way to start 2016.”
Over the years I've posted upside and downside targets for RBY. Everyone was based in mathematical formula, right or wrong.
You, however, have posted purely trolling, bashing posts on the MUX board based on no real info, fundamental or otherwise. For what reason? I don't know, other than you are a basically deceitful being.
'If MUX will go bankrupt then I will find time to come and put it to your attention.'
And since you haven't, I assume you have conceded the issue.
'If memory serves, you never use fundamentals.'
I never use fundamental info to make an entry. That doesn't mean I don't know something about MUX fundamentals.
'Your idiotic pincher plays always rotate around bk stocks, right?'
Wrong. Any stock can show a pincher formation after a drop in price.
Shorts have been covering. Probably a combination of reasons. Improving fundamentals. Big long positions showing a will to defend a buck and I'd guess many shorts have been long term, have made a lot of money and want to take it off the table, since additional profit becomes less with higher risk.
Gold has been showing strength, since the beginning of Dec, by rising in an uptrend channel and nearing a breakthrough of the 144MA, which has been a long term daily bull/bear line.
I believe rxbond said beating the delisting isn't official yet, but we're maintaining the necessary month long average. This all IMHO.
How did RBY go from pennies to $4?
Stocks move 'BIG' for all sorts of reasons. RBY's rise mirrors the rise in the POG
Pull up both charts and compare the moves from 2002 to 2011.
Take a look at the ACI chart. In 2011 it was near $350.
In Aug 2015 it had fallen to $1. Then within 2 weeks it ran back up to $10. This month it fell to .10 and declared BK.
The point is stocks go up and stocks go down.
GET ON THE RIGHT SIDE OF THE MOVES AND QUIT MOANING!