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Marathon Gold Corp MGDPF


Primary Symbol: T.MOZ

Marathon Gold Corporation is a Canada-based gold exploration and development company. The Company’s primary business focus is the exploration and development of its flagship asset, the wholly owned Valentine Gold Project, located in Newfoundland and Labrador, Canada. The project comprises a series of five mineralized deposits along a 32- kilometer system. Its prospects are located along the Valentine Lake Shear Zone and include Frank Zone, Rainbow Zone, Triangle Zone, Victoria Bridge, Narrows, Victory Southwest, Victory Northeast, and the Berry Zone. In addition to the Valentine Gold Project in the Central Region of Newfoundland and Labrador, the Company holds 100% interests in the Bonanza Mine, a former mine located in Baker County in northeastern Oregon, the Gold Reef property, an exploration property consisting of approximately 12 hectares of claims located near Stewart, British Columbia; and a 2% net smelter returns royalty on precious metal sales by the Golden Chest mine in Idaho.


TSX:MOZ - Post by User

Comment by AlwaysLong683on Sep 24, 2022 6:54am
115 Views
Post# 34983847

RE:Average of $0.44

RE:Average of $0.44

zack50 wrote: One more go around on this...

My present holding is 50K shars of MOZ at an average purchase price of $0.44... as follows:

* 20000 @ $0.15 .... $3000
* 15000 @ $0,39 .... $5850
*  8000 @ $0.67 ....  $5360
*  7000 @ $1.14 ....  $7980

These 4 purchases were made between Nov/15 and Mar/17. All purchases were bought at or near the high price of the day... never did have much luck with hitting the lows.

This investment is being held in my TFSA... none of these shares have been sold. Thus, those 50K shares, at a total purchase price of $22190 equates to an average share price of ~$0.44. 

I hear rain and wind... sounds like FIONA is just around the corner...time to hunker down!

Just playing Devil's Advocate here.

1) You stated your purchases of MOZ shares inside your TFSA between November.2015 and March 2017 was $22,190,

TFSA Contribution Limits for:

2015:  $10,000

2016:    $5,500

2017:    $5,500

THREE YEAR TFSA CONTRIBUTION LIMIT TOTAL:  $21,000

Thus, it appears you are claiming you invested your entire TFSA contribution limit for three straight years in one speculative junior gold stock starting late in 2015, plus added a little bit extra, perhaps from the sale of other stocks inside your TFSA or any dividend/distribution/interest income you generated inside your TFSA in previous years.

That's a very risky play inside a TFSA as not only was MOZ a high risk junior at the time, but if things went south and you lost most of your money, that TFSA contribution room is gone and you can't even claim a capital loss to offset capital gains outside your TFSA, so if what you say is true, I'd say you were very lucky things turned out the way they did.

2) You also seemed to be very fortunate moving in and out of MOZ outside your TFSA, making a nice profit on each occasion. Very hard to do with consistency, but again, if you did pull this off, I think you were very fortunate again.

Seems like you are a Maritimer. Hope you and your family / friends are in a safe place while trying to ride out the storm.

 

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