RE: Can't see much room for SP deappreciation nowTime to reenter methinks. Made a nice flip from $1.70 to $2.20 for a two week hold. The problem is finding out what the catalyst for rebuying is now. From what I can see, MSQ isn't interested in doing anything other than trying to sell Cumo to some major. I wonder who really would be interested in buying Cumo and then coming up with $2 B capex. Maybe a Teck? They always like big projects but seem to like much more developed plays before they invest (of course, I think they'd do far better investing earlier in the process and getting a better handle on economics from the inside rather than buying in late and getting "surprised" like they did with Galore Creek and Petaquilla).
The problem with MSQ is that there are a fair number of largish moly deposits out there and the market is saturated with moly plays. Simply not enough $ out there chasing Mo stocks to ramp the late stage exploration plays. Most pops are sold in this market.
I think MSQ would do FAR better to highlight the potential of a smaller high grade deposit with excellent economics due to near surface mineralization as Junior points out. I think MSQ would do very well to do a PEA on a small project with reasonable capex. I am not thrilled to see yet another junior promoting a huge capex project. The market is littered with the carcasses of similar plays.