Nostalgia Remember when we were all cranky about the big 50 cent placements? In particular Iam could nor get enough of 50 cent Merrex. Heres my question: what has changed? Gold has held steady since then, in fact it spiked then came back. The drill has come up with solid results but obviously there is no more interest in Merrex. By every metric that I am aware of the stock should be worth more now.
I heard that management, and some brokers, were concerned that MXI was vunerable to a cheap takeover last year. Well, the price of a sucessful TO has fallen by about half since then and no one is biting. What has changed? The reality is that a 50 cent offer would take the whole company right now. I know that many would dispute that but the reality is that in this market a 100% premium over market is very, very rich.
Any thoughts anyone?