Price ActionThere is something funky with the price action lately. I would have expected TMM to be at at least $2.50 with the price of gold where it is today. I think the key to explaining the lack of upward momentum would have something to do with Bragagnolo and a couple of other directors almost not getting voted back in. There is some major power play going on and with that many shares involved it would not be that hard to manipulate the price short term.
The company itself looks solid. They made money even in Q2. They did not have to dilute or sell a gold stream or resort to some other funding mechanism that will cost us money in the long term. They did extend their Sprott loan but Sprott waived the 1% penalty which is a sign of faith in our company. I have shares in a few other miners and explorers who went to the market for extra cash in the last few months and they paid dearly for it making my shares suffer greatly.
I think the TMM shares have been getting manipulated down for the last month or so and rather than whine about it I have already used the opportunity to pick up some more shares at under $2. On the latest upswing in gold, I have sold some other miners at modest profits. I am expecting a correction in the gold price soon to at least test $1350. I am hoping I will be able to pick up TMM for close to $2 at that time.
Bob