Extremely Bullish It looks like gold is about to explode (we will definitely know by the end of this week after all the economic data) but this next leg up could possibly take up the price to $3000 an ounce
Most junior and senior precious metal stocks are a buy right now so Mandalay isn't special in that regard, but if the next quarter results show that gold production is at least back on track to where it should be then this stock will move to $4 so quickly it won't even be funny.
Just to remember for a company of this size and profitability the stock is quite illiquid, any new serious buyers will drive the stock up in a violent fashion. We saw that before when it when it doubled in roughly 2 weeks earlier in the year on one buyer rebalancing their portfolio.
Between buybacks, dividends (surely coming soon), the exposure to a junior silver exploration company (not sure how much stock they have left in it) and any future announcements on expansion of the resources they're exploring, this stock is a buy in my book.
I can always be wrong but sub $2 will probably look stupidly cheap soon.