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Magellan Minerals Ltd MAGNF

"Magellan Minerals Ltd is an exploration stage company. The Company along with its subsidiaries is engaged in the exploration and development of mineral properties, with a focus on gold properties in Brazil."


OTCPK:MAGNF - Post by User

Post by fatcharlieon May 25, 2012 1:17pm
270 Views
Post# 19947041

Just my opinion

Just my opinion

I looked at MNM a bit.  On the plus side they have some great properties and the management team has a lot of experience plus Sandstorm has raised its head on this micro.  On the downside they are a long way from production and too many things can go wrong.  Most of these micro-caps get into trouble with delays, cost over-runs and overly optomistic time frames for production.  It looks like a long term hold until at least 2013 or 2014.  What I don't like is they have a lot of high profile people in management but they don't appear to be pushing this stock into the spotlight. This is exactly why these guys are supposed to earn their big bucks.  I also don't like to see management rewarding themselves this early in the cycle.  Do your job, get things done and then you have earned your rewards.  Just my opinion but there might be more downside going forward and it wouldn't surprise me if we have not seen the bottom yet.  I am patient and for now I will wait and watch.  

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