Mega Precious Metals Inc MPRXF

Exceptionally good results today, but.......

[goldopportunity]

I can see that ST traders may have been disappointed with the revised timeframe for an updated gold/tungsten NI 43-101 resource estimate, from Q3 to "in the second half of 2014".  And that's probably why we only had a nibble at C$0.120 this morning, before falling back to C$0.115 and then to C$0.110 where mgp-v closed.  However, Kuntz's decision "to include as much of the 2013/2014 drilling and OCAP program as possible" in this forthcoming updated NI 43-101 resource estimate makes good business sense, especially when it will include today's great numbers.

Okay, so what happens now.  Well, today's closing candle indicates to me that we'll probably hit C$0.105 tomorrow and may even briefly touch C$0.100 where there's very healthy bid support.  Then I would think we'll be range-bound till at least mid-to-end of next week.  Also, the xau, hui and gdxj all opened gap up and this could possibly mean some ST weakness in the gold indices until these gaps are filled.  Plus, the dow looks poised for a good rebound, so the ST perceived safe-haven to the goldies may lose its lustre for a short bit.  Jmvho. 




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