RE:how come its going up all of a sudden?I almost didn’t reply, as it seems very unpopular to speak positively around here.
i don’t see the price running away just yet, but I think it will firm up a bit for the next while as we wait to hear about the financing. If they can’t raise the money, things will obviously head south, but I think a few people are starting to gamble at this price because they realize that if they successfully raise cash and plan a drill program for San Roque, buying shares will be difficult. There will be only 13 million shares out, and most are in the hands of people that have no plans to sell. Of course I realize that they will add 20-40 million new shares, but they will not be free-trading for a while. Many that know of San Roque will want to be holding at least a few shares if drills are turning there.
A guy can wait and see if they get the cash in place before buying shares, but they will likely have to pay more if they do.
The situation is still rather risky, but we will get clarity soon. Aside from raising the cash, I’m most interested in what Nova Gold will do. They have a 49% interest, so we’ll have to present them with any drill plans and they will have to decide whether to participate or not. Will they be willing to lose a chunk of the property to save a few hundred thousand or even a million? I’m not convinced they are done with us just yet.
To those who are still steaming over the dilution, I get it. I had around 3 million shares at one point. I was diluted down and over the summer I fought back up to 800,000. Now I’ll be back to around 400k. It stings badly; I’m far from a rich man and took a large, calculated gamble. In total honesty, I’m just thrilled that we’re not dead yet. I really think we need to look forward and ask ourselves if the path being taken can grow our investment from here. Getting rich off of Hite and his vision was ruled out long ago. I’m angry about lots of things, but I have to admit that if I were a prospective shareholder looking for a high-risk/high-reward opportunity, this stock would be compelling to me.
Good luck to everyone. I bought my first MFM share in 2005 (give or take a year) and I know that guys like Matt and Patrick are in similar situations. Let’s hope we all profit from here.