RE:Taking stock of MGMHedberg77 wrote: It's not difficult to see why on a day-to-day basis that retail investors are unimpressed with this stock at the moment (see: up 0.01, a measily 5,003 shares as of 10:02AM EDT). Furthermore, only one rig out for the rest of the year appears underwhelming (when in the past, the company hinted that there may be more units drilling). One could be forgiven for thinking that the lustre is lost regarding the AE partnership news and Malarctic comparisons. Sigh. Opportunity cost is a real thing.
That being said, Maple Gold is a potentially a sleeping giant. Millions of inferred ounces are on the books. The company is still sitting pretty with AE as far as we can tell. While only one rig is going, the drilling is going deeper. Should the 10,000m already done and 20,000m to come yield good assays, it will only serve to add ounces (and hopefully lead to over 5 million and beyond). These latter reasons are keeping many (including a lot of smart money) in with this company. Hopefully the favorable results come to pass and the eventually district level project commences. Perhaps if and once that trajectory is secured, the company with be bought out with an agreeable, well deserved premium. However, when the giant wakes up will be unpredictable and in that moment appear to happen suddenly - hopefully it's all worth waiting for. GLTA.
Stock at .24 today. Underwhelming to say the least. Typical Goldman and Shylock stock pick.
Was comparing the Resource Estimates at Douay over the last 5 years.
April 2017 2.8M ounces
Feb 2018 3.2M ounces
Oct 2019 2.8M ounces
Mar 2022 3.0M ounces
Hmmm!! Not much change over the 5 years.
In terms of strategy the intent has always been to advance and derisk the project and take it to an economic study phase. Where is that study? In early 2019 they stated the following: "RPA's work will prove essential as the Company prepares and advances Douay toward its first overall Preliminary Economic Assessment ("PEA"), which the Company plans to start toward year-end."
That was published back in January 2019. 3 years later still no PEA.
Only recent mention of PEA by Hornor is internal management one to be generated by end of this year. Why no external PEA?
Appears to be light years before any feasibility study is produced and in all liklihood will not be by MGM. Need PEA, then PFS and then FS.
Patiently waiting for drill results at which time I will decide next investment move.with this stock. HOLD or SELL A lot of good bargains out there in the gold sector.
GO MGM GO
TO DA MOON
Great fortune to all