Painting the Tape and CMK.toI decided to take out the 17's after 3m today and "paint the tape" toround out my position as I needed 3k more. After all, the DAX closed at a currency exchangeof .175 CAD., so let us be consistent
Not a lot of action on the board lately and it looks like most shareholders are in waiting mode as most of the facts have been discussed, posted and rehashed time and time again. It looks like some are getting impatient with their selling today and no one is stepping up to buy. As most longs know, I am waiting for the 43-101 (which I hoped would be out already).
Since the German mag pointed out that MJS is expecting gold resources in the new 43-101 to be at 2m resources, I thought i would do a compare with another prospective mine, albeit a coal mine, CMK. I know, I know, coal vs.gold, US vs. China, apples and oranges, so just take it for what it is. I think it is an eye-opener.
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Quotes from the CMK PR dated March 16:
"Agapito Associates, Inc. ("Agapito") has delivered a PreliminaryAssessment providing an economic analysis of potential investmentreturn and economics of the proposed development and production ofmetallurgical coking coal from its New Elk Coal Mine located in LasAnimas County, Colorado, U.S.A. supported by a National Instrument43-101 ("NI 43-101") compliant Technical Report also prepared byAgapito."
"The Agapito Preliminary Assessment estimates an internal rate of return("IRR") on the total U.S.$65 million capital investment to be 98.65%(p.a.). The net present value ("NPV") of the investment is calculatedto be U.S.$1.041 Billion"
The stock subsequently pulled and sustained a 400% gain once the news was released.
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Majestic, assuming the German Mag is correct: 2.0M oz . Let's assume a $1000 gold oz price - just to give an idea.
-> That would give Majestic a "Present Vale ("NPV") of $2B (total gold * $1000) over the life of the mine.
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Obviously, this is a very rudimentary analysis or comparison, but it does open my eyes a bit. The main point being that the 43-101 is a watershed event. A 2B valued 43-101 is a huge watershed event. One that could take MJS to .40/.50 cents and beyond, and one that I would waaaay rather be in before than after...
Know what you hold and why you hold it.
B