Hi to all (except Horse)
I am doing some reading on MNM because of a friendly bet....
Feel free to take seriously my comments or discard them (like Horse) but I don't own any or did not sell any SHORT. Take advantage of my experience or don't, it's your life, your money, your choice. When I look at the Corporate presentation dated July 2012, I see the following irregularities, mainly p11:
-PEA seems to be late
-So definition drilling will be late
-No Preliminary Feasibility study, which is possible, but before investing in juiors, bankl like to see a full bakable feasibility study and this is expensive. So junior do a PFS first so they can raise money more easily and it is much cheaper.
-37M capex for 400t per day!!!! Ridiculous. Do your DD.
That tells me that they either have deep pockets or a deal already made or they're trying to keep share count low and get bought. The third option is most likely.
I dont see any allocation for Financing. True that it is so easy to come down with money these days. And tey will need money before they get to this point.
I don't like the fact that the ore is scattered, will bring mining cost up, disregarding what PEA tells you.
All in all, you are dreaming if that things goes back to 1.60 anytime soon and if you see production before 2016-2017.
The only light I see is Cuiu cuiu , it is quite promising so who knows.
So to all good luck (except Horse), there might be some money to make from here on Coringa but dreams of grandeur, no way.
Maybe Cuiu Cuiu may be the catalyst for some gains.