Fridays Musings Fridays Musings.
Looking at the Jrs. taking a beating with Marathon taking the biggest hit over many months I remain positive on the longer term outlook. To me it makes no sense to sell some of the names with good upside given the events taking place. With Marathon, the overhang is an additional share issue. As for the positive notes Marathon fits into the Lassonde curve very well which illiterates the early sages from exploration to production and depletion.
On the positive side the company has progressed the project construction plan meeting or exceeding targets with milestones within reach this fall. Exploration has not been ignored and according to Marathon. "Exploration work at Valentine will be designed to maintain the project’s momentum of mineral resource growth even as mine development moves forward." “We see potential for this growth both within the mineral deposits in the existing mine plan, and more broadly over the full 32 kilometres of mineralized shear zone trend on the property,” said Marathon Gold President and CEO Matt Manson.
Marathon should have an update later this fall for the ongoing exploration which has increase the mine life and production profile averaging 200,000 at $870 US.
So for me Moz remains my largest holding and I will continue to average my position. The trading as Curse wrote is make a penny here and there with little gains more frustration for the retail investor, if anything it is computer programs run by a few who still have large holdings and still see an upside with big numbers.
Longer term Au prices according to some experts needs to find support albeit the current price is still positive for Marathon production and past US $2000 would be a welcome bonus.
Near term Construction updates along with Hydro lines operational this fall.
New assays from the summer exploration program in the Frank Zone with past results an indication of a potential pit site as well as other targets.
Negative is the additional share issue if and when required as an overhang into 2024. Trading pattern.
So it's not just Marathon but a basket of good Jrs with a positive production outlook like IAU and others which are close to production. Most need additional financing (Inflation) so unless there are some mergers it looks like turbulence for a few more months for both Jrs. and Producers, time to take advantage of the discounted prices not just for Marathon.
Have a nice weekend!