Is MUX a company that would do well if there is a big correction/pullback in the Fall? Also any opinions on it being undervalued or not atm?
I've read that there is a bank with a 1.3B ounce short position in silver. Annual production was quoted at 800M, so this bank would be short 1.5 years of silver production. How do you even finance something like that?
One thing that may have driven that large volume day; political chaos on mine ownership laws in south africa. If they push them through production will likely drop, and probably significantly.
MUX has just seen the last of the selling. Looks like a potential push higher is in store. Ive been struggling with this stock lately. Some of my other trades have been from awesome_stock.s which are working out pretty well.
I just don't understand Friday's activity; 11X normal volume and no change on stock price from open. Perhaps XME ETF is monthly reallocating, they have been moving to gold miners of late.
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Heavy volume on friday 23 million shares trade 10 towards close? Shorts covering?
Hope it will be good day for NAK longs
Yahoo Finance Insights
MUX is down -8.06% to 2.51
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Yahoo Finance Insights
MUX is up 6.77% to 2.84
Yahoo Finance Insights
MUX is down -7.69% to 2.64
little chickens have their way......only to watch MUX rebound without skin in the game. So overdone it is comical.
Over 10 years with very good average PM prices and Mc's MUX is a disaster. Constant anticipated numbers from Mc that have never showed to be a reality. Goldcorp dumped him for a reason!!! He lies constantly!!! Stock is near its all time low and his no debt BS is that BS!!! He should be investigated and jailed!!!
McEwen is the Bernie Madoff of the mining industry. The only difference is he's not in prison...yet. Every penny made from the RubiCON scam was ill-gotten gains and should be seized and returned to the RBY shareholders that he screwed. All of his assets should be liquidated and then he should spend the next 20 years in prison. The Feds should make an example of this high profile CR00K. All they need to do is go after everyone else and then grant them immunity if they give up info to nail McEwen. Then let him try to buy his way out of that pickle.
I like this company, they have a lot of good assets, cashed up, and no debt. McEwen knows how to build a quality mining company.
Does McEwen need to be investigated? His financials do not jive???Every quarter posts a positive PE, and it never meets his numbers...Not even close!!! He also needs to be audited. I bet they find problem with that also. There is obviously a reason why his numbers never hit. It's probably why GOLD CORP showed him the door. He has had a long time to make $$$. He cannot blame it on PM prices!!!
The biggest cause is the Comex and the damn paper gold market and derivities!
Here ya go, folks. The biggest mining scam ever....all orchestrated by your "stellar reputation" CEO, Rob McEwen. They fail to mention that he cashed out at $4/share in 2012, I believe. I'm still waiting for someone to tell me that ROBbie had no idea there was virtually no gold. I'd also like to know why he was never arrested? Anyone care to fill me in? It's been a very, very long time. I'm sure I'm not the only RBY investor that won't let it go. If there's any RBY bagholders reading this I think we should drop in on a MUX shareholder meeting and ask ROBbie some questions face to face. Who's game?
Copied from Wikipedia - Rubicon Minerals
"In February 2006 Rob McEwen, the former chairman and CEO of Goldcorp, said he was investing C$10 million in Rubicon, and was also selling 200,000 hectares (490,000 acres) of land near the Pogo gold mine in Alaska to Rubicon in exchange for additional shares. McEwen was to become a strategic advisor to the company. Shares rose by almost 40% when the news was released. In May 2007 McEwen announced that he owned or controlled about 32.8% of Rubicon's current outstanding common shares. In December 2009, Rubicon Minerals was added to the Toronto Stock Exchange's benchmark S&P/TSX Composite Index. At this time, in addition to the Red Lake property the company owned more than 590 square miles (1,500 km2) around the Pogo Mine in Alaska, and 350 square miles (910 km2) in northeast Nevada. McEwen's share was now 21.5%.
In November 2010 Rubicon Minerals shares shot up after the company announced that part of their Phoenix project in the Red Lake area had an estimated inferred resource of 4 million ounces of gold. Drilling results indicated a grade of 20.1 grams (0.71 oz) gold per ton of ore. In July 2011 Agnico-Eagle Mines made a CDN$70 million investment through non-brokered private placement of common shares. Rubicon continued to develop the Phoenix gold project, and in October 2011 announced that it now had a grid power connection from Hydro One, replacing the former diesel generators.
Rubicon reduced its gold reserves by 88% on January 11, 2016. "