RE:RE:RE:RE:18 days . . .auburn2,
The Q3 Production report dropped gold equivalent sales by roughly one third from 25,000 ounces gold equivalent to 18,350 ounces. Whenever quarterly production drops like that, the stock price immediately drops to maintain the same relative valuation. For Mandalay Resources that number is currently between $1,900 USD to $2,100 USD per ounce of quarterly gold equivalent production.
The Q3 production level should be the low quarter for the year, and since the 7 cent level represents the point and figure bearish target for MNDJF, I expect the stock to reverse and do a dead cat bounce of at least 33 cents off the 7 cent low. So IMHO, 40 cents is the target for the AR move off the bottom.