Excelsior's market price vs. Copper priceI've noticed some posters concerned that MIN (EXMGF) doesn't appear to be reacting in a positive way to the price of copper because of lingering concerns about the success of in-situ mining.
I'm going to have to disagree with those concerns. If anything, Excelsior has finally caught up with the upward movement in the price of copper and doubts about in-situ have been alleviated as the SX/EW plant has been activated and production will be announced in a matter of a few weeks if not sooner.
EXMGF began this recent run on October 29 when the stock was languishing at 45 cents (US). As I type this, it's trading at 77 cents (US). That's a increase of 71%. Not bad in only one month or so.
Copper on the other hand, was at $3.05 (US) on October 29 and is currently at $3.48. That's an increase of 14%.
Clearly, in my opinion, in-situ concerns are a thing of the past and now it's on to production.
I also see that some folks are day-trading Excelsior. I once had a wise old stockbroker tell me to never bet against the trend. "The trend is your friend", he used to say. If the technicals are still attractive and the fundamentals continue to look good and portend to be even better, it's best to just hold on. Why take short-term gains if you can benefit from lower taxes on long-term gains? (At least here in the U.S.)
All of this is just my opinion. People can do what they want with their portfolio.
I've been long Excelsior for five years and continue to add to my position on these occasional daily dips. I think we'll see this stock somewhere around $1.50 (US) before too long if not higher.