Scoping Study, Presentation & TradingTockey,
You're right with the orders and "walls" that seem to be posted, but it is more at 8:30 - and in the past two weeks i am starting to see a lot more diversification in the buyers and sellers.
For instance, a few large lots (over 100k shares) were sold by Scotia, Anonymous and Instinet from .18 - .20. Those three along with TD and CIBC seem to be the largest buyers as well. I've also seen that someone is seemingly "painting the tape" at the end of the day with a small 2000 or 3000 share buy at the ask. For me, the thing I take out of this is that you still have people that exercised their warrants waiting and selling into demand, BUT, you also have decent demand in the .17 - .195 range, and even more so this week. This is new in absence of news or newsletters. For me, the bottom line with trading is that there is increased buying pressure, an upward trend, and demand in this range, which is helping to create a significant bottom or base in this range. That is a great thing imo.
It certainly looks like some of the information from the presentation is from the scoping study - and with that I have to wonder why the hell the company has not released the scoping study yet. I mean:
-Quote of cost per ounce "<$450"
-Reference to "LOM" - Life of Mine
-Projected cash flows for 2011: Cashflow from Operations: $14.5M
-Projected cash flows for 2012 (Full year at production rate): Cash flow from Operations: $69M
Why isn't the technical report out if these are available to those that do some DD? It should be available to all at the same time.
Fnally, In Situ value of $300M and additional valuation models as production nears. I just wonder WHEN Majestic will be taken out. In my view, this is Majestic's plan - and I think it just may be this year...(gut feel)
Cheers!
B