RE:RE:Nice bounce off news releaseOver $900 million CDN in bought deals this week and the stampede is just getting started. This sector will be rolling in cash if POG holds above $1201. Technical traders will be closing shorts and going long pushing gold higher on technicals alone I hate to cheer for a bear stock market but it's good for us.
I wouldn't want to be on the sell side of MXI now. All signs are up for anything of quality, and MXI has a high value stellar deposit. Who knows where things will go now? In the last gold rush, MXI went to almost $1. Not that they will do that now with more shares outstanding, but there is some big upside here if POG keeps moving. IMG is doubtlessly weighing their options at the moment on what they are going to do with this JV.
There is a huge shortage of quality development projects out there and the big miners are about to hit the "production cliff". There has been very little capital spent for the last 3 years so operations are declining in production and development projects are looking very scarce. Anyone with a premium development project is going to shoot up in value as long as POG keeps moving up. I think MXI could be in the right place at the right time.