RE: RE: why is this company so cheap?
Why this company is so cheap? Good question.
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Yes, a company with more than 500 Millions shares can scare some investors. But as far as I'm concerned, the potential cash flow of MJS for the next year makes me easily forget that point. Just take a look at page 14 of their latest presentation. Keep in mind that their potential revenues use gold value of less than a $1000/ounce.
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No, IMO, this company is still in the 20 cents ranges because more than 50 M. warrants @ 10 cents have to be exercised before July 21st of this year. Those warrants come from financing of July 2009.
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Once those warrants are exerciced and institutions are ready to let this stock go, you can expect a big spike.
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In other words, why this company is so cheap? Because you have a chance right now to get a gold producer of more than 200 000 ounces in 2012 at less than 25 cents. You're lucky, IMO.
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Obviously, my opinion is based on positive news regarding potential financing, the new mining permit and the success of the mill commissioning. Those are the main risks right now.
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But IMO, it is time to buy.
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DYODD
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Regards.
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Simon