MJS Today & Q1 This week
Hi wrzkll,
I think you hit the nail on the head with your last comment that, considering all that happened with R&R (or didn't happen), and considering the lack of information from Kong and crew thus far with the new structure, there isn't a lot of trust. I would push it farther and say there is a lot of paranoia.
A few things:
-This "restructure" is only three months old as of Feb 22nd or so. During that time, We've had North American Holidays and Chinese New Years (2 weeks), so not a lot of time has passed to evoke meaningful change imo.
-Reynolds was a means to an end - to Rid Rod and Rudy. He is CEO of another company at this time - and exploration company. What MJS needs at this point, to lead production to higher grades and output, is a CEO with a very strong operational background to make the best use of the lab and mine plan.
-This Q will be the same old, but with a greater loss due to the buyout of Rod and company, in my view
-Q2 - Q4 will start to see results of higher head grade, reduced costs ($1.5M/Q in my view) and a positive trend on production, top line and bottom line
-I expect the MD&A or perhaps the PR for the financials to update shareholders about progress - it is this information that is lacking, and leading to a lot of paranoia
-40% - 50% or so of shareholders have an ACB of around .20 cents - so it is critical to get MJS back to that level for them. This New Margin, China Mining the folks that converted a $10M loan to shares at .205, and others.
All in all, the property is the same, the leaders are different and the goal is more concise - get the single property that MJS owns up and producing at an acceptable level.
I don't buy into all of this other noise and I don't feel the major shareholders will accept the 50%+haircut on their shares for much longer (and a buyout at .12 or .10 or anything under .20 wouldn't likley appease them). So, I don't see that as a threat.
I'll continue to trade this where possible and hold my LT shares.
B