RE:RE:RE:RE:RE:RE:Does anybody else wonder..Don't let the history fool you.
I am a long term shareholder too, going back to 2008 as well. However, I think it is a big mistake to judge MXI (and even IMG to a minor extent), based on events between 2008 and April 30th 2014. Up to April 30th, 2014, I had mentally written off hundreds of thousands of shares at a cost basis of well over .20 but everything changed in early 2014. Up to that time, IMG had literally wasted many $millions and pretty much destroyed MXI and everything collapsed with the POG pullback from their highs. It was a combination of an incompetent partner and a bad market.
The market was still bad by early 2014 but some things major things had changed when the first drilling results came in at Diakha. One big development was that Boto Malikoundi was starting to shape up into a deposit was that starting to look economic and IMG had already started a Scoping Study on it. So after the first drilling results came in on Diakha, I started buying strongly at around .07 and up. The thesis was simple: I didn't care if Diakha ever became economiic for a mine by itself because it was destined to become a satellite pit for the whole Boto global resource.....I saw a form of synergy between them, each making the other economic. Knowledgeable geologists were saying that 1 million oz was a near-sure thing at Diakha (which turned out to be true). 1 million oz is not necessarily good enough for a mine but makes it a fantastic satellite pit for any nearby operation. Now, Siribaya springs into value because it too can become a satellite pit even though by itself it is worthless. So I more than doubled my holdings between April 30, 2014 and April/2015 when I participated in the PP as well.....and have since added a lot more.
So when someone says that they don't think MXI will ever pay off I say balderdash, it already has for me as I have whopping green on my accounts. In fact, even my pre2008 holding is green too. Plus, the best is yet to come as the extension will soon double the resource at Diakha again. I predict that some time between the completion of the current drilling program and the next 43-101 update, MXI will be gone, and at a higher price than today. Let's see what the RC and DD holes from the current program look like, then we can start to look at what this might sell for. Who knows, but .30 will not even be a consideration in my mind once the extension is drilled up.
Make no mistake about it, this JV is absolutely essential to IMG's strategic growth plan. Without it, Boto is no prom queen but suddenly Boto looks like a star when Diakha and Siribaya are added in. When IMG wants to make a move on mine development at Boto, they will badly want 100% of the JV.
So there's my history and my outlook.