Major dilution with new financing deal. Management is slipping and their credibility is at risk.
Rob McEwen doesn't do debt, but pays up front with shares and dilution etc, and takes no salary. Much smarter then an AUY with 1.5 bln debt, executives with million dollar salaries, and at the mercy of interest rates. The only way Rob McEwen gets
MUX clearly bent over backwards, to get Lexam & Black Fox - and bent the shareholders over backwards. What does that tell you, about what MUX knows about the possibilities for expansion on the 100%-owned lands around San Jose, at El Gallo, and around Gold Bar? Either those properties suck, or MUX has a compulsion to always go looking somewhere else.
....I meant bro add, the only way Rob McEwen gets rewarded is the same way the shareholder gets his reward-- higher share price. Today's sell off is an understandable reaction, nevertheless pretty short sighted.
I'm long at 2,62. Yes I could have, should have , I know I know. Nevertheless, looking ar MUX freefalling day after day makes me sick . so there.
The price of Mux has a lot less to do with what properties/ mines it buys, or how it finances acquisitions etc etc...the price of MUX has everything to do with
from 2,83 to 2,17 in just over a week...now that's what I call shareholder appreciation. how they will ever get to their $5 target is beyond me...when?? in 2 years? maybe 3? MUX has done nothing but go down for almost a year now.
will catch a MUX bottom and play, 2.19 was previous low
just curious... those of you who are long, at what price did you get in, and in what time range do you expect to see a reasonable return?
drop likely nothing more than some selling due to perhaps van eck selling as they own 28 mil shares...a few funds have 5/8 million shares.....gold drops the last week......so thats the selling....40 mil raised hardly much dilitution
Mux adds a lot more potential with this move. It's more valuable now than a week or a month ago. No debt. I got advantages-- if and only if gold continues to rise.
could it go under $2?
JoshuA, your 2 digit IQ is going to get pounded into a low single digit number.
You know they were shorting the box on this esp with 2.60 run up money money money made on both sides of the coin
Is this the bottom?
The latest Los Azules valuation was probably responsible for the 12 cent rocket shot in share price in the last hour Friday, It puts a $2.2 billion value on an asset carried on the books for $160m. Its assumptions of $3 copper, $17 silver and $1300 gold seems reasonable, allowing for a small correction in asset prices that are all in clear uptrends. The largest copper producer in the world is right next door in Chile. Its CEO was recently quoted as being dubious about the one-year copper rally. If he becomes a believer, MUX has a potential buyer at a price (several hundred million) that could fill its coffers and finance current expansion out of Mexico and into the U.S. and Canada. Exciting!
This is going to get pounded if we see gold backtest towards the $1200 area before resuming to new highs next year.
I don't get it with MUX. Why can't it just go up and STAY there for a while? Who or what keeps hammering it back to 2,5 range or lower? Every outbreak was immediately slammed down again. The movements seem erratic and don't make much sense anymore.
GOLD is GOING MUCH HIGHER...imho, because of........... ************************************************************ NK war drum keeps louder. China, Russia, Iran, Others will damage the petro dollar seriously with OIL FUTURES traded in YUAN, & convertible to GOLD. Budgets probs / huge Deficits / DEBT in the US continue unabated. Cryptos are being banned by China and next up is ?????????? Global Negative Interest Rates cause folks to buy GOLD.