RE: Gold, gold everywhere.....I was surprised it didn't cause some movement too, but at least the drilling is creating a stronger foundation for the stock price. We expected the resource was open to depth and strike and we are currently proving it up and building our resource estimate. MXI isn't a high volume steady climber... it is streaky. I am holding because IMG will eventually want to go 100% on the project it operates. Hopefully the SP can move a little before a takeover bid is on the table.
I'm surprised IMG isn't trying to scoop MXI up at this price, but maybe they have tossed around some low ball numbers since they have time to stretch out the neogtiations.
At least Merrex has cash in the bank to keep the drills going and put some pressure on IMG to show that the value of their property goes up everyday. That's assuming that IMG will want some (risked) undrilled stuff to go with the proven.
Anyone think negotiations might happen during the upcoming rainy season after all the drill results?