Mega Precious Metals Inc MPRXF

MB update

[threepalms]

pretty much painted the picture.

When i saw the MB budget as well as the plan to increase the level of effort and the winter stock pilling on supplies under way at MB I concluded that our burn rate was increasing along with our potential increase in resource.

Then I added to this situation what I believe is about to happen at NM and the costs associated with this, I came to the conclusion that we would need additional funds sooner rather than later.

 

Now some will try to convince us that we are being diluted to death.

I am of the opinion that this company has no problem raising tens of million in less than 6 months and to do this they must be able to jusity to the industry that they will create wealth here.

Gold is King and as Jim Sinclair states the next best thing to owning physical gold is owning shares in companies that are adding ozs to their resource base.

[GeneralLabour]

dont beleive you have an explanation for the drastic drop in our SP do you?

[threepalms]

not that unusual to see the share drop when a PP is announced. Better question is ..What did those houses hear that caused them to jump on board to the tune of $15 MILLION? When looking at companies like this one I tend to focus my interest and time on the development of the story and less on the share price. The share price will take care of itself once the mines are proven and developped or sold

[tootall123]

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[hrattle]

...an explanation for the drastic drop ... It is just taking it to what the company believes its shares are worth i.e. the 61 cents they are selling 20+ million shares for. You should be asking Jim why he thinks the company should issue new shares at a 12% discount to market. What you need to be concerned about is the effect of 26% dilution on the shareprice going forward - every new ounce is now

[tootall123]

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[GeneralLabour]

feels like were getting shafted, this last update should of brought us to .80 at least.

[hrattle]

They did this last time and had to lower it. If they can get full subscription for the FT shares it is not so bad - at 77 cents the worst case is a drop to 54 cents. IMHO.

[wayned]

 These guys never learn . I thought old Jim was supposed to be better than this . 12 million flow through shares . Next year they get dumped for the tax credit no matter what the SP is at the time . Then you sit back and watch the SP decline week after week . Flow through shares are the worst thing that ever happened to junior mining share holders .

[itstrue11]

  Well. Hope the money is wisely spent and we will add not just 26- but 100% more ozs with that dilution so it will still be a good investment, finally the money has to come from somewhere. It will take a little patient to get the results but I still hope that our management will smartly invest and move this company forward according to their promotional statements. If thy can now produce the

[threepalms]

If luck is with us the sale of the Headway to Goldcorp for an excess of 1 billion will pay for the Mine Infastructure and construction costs. Both NM and MB.

[GeneralLabour]

jim stated that they wish to sell those properties, dont know why they would need money to develop a mine if they plan to sell.

[hope21]

The more M&I ounces of Gold you got on your properties the higher price Mega will get for its properties.  The company is moving forward with its plane of developing a mine on its monument bay property just the same because this give the company more options. As long as the market discount this play the higher the chances that Mega will be

[threepalms]

Monument Bay potential 7 million plus ozs. It's going to take likely another 30 to 50 million to take that to the point that a big player might consider buying it. imho. NM needs to see a couple of property acquisitions or JV agreements before that can potentially be 3 to 5 million ozs. Satterly might be another project with cash needs as GCU moves their project forward and the pressure builds

[Dano6]

Threepalms you do not make sense!!!!!!! They do not drill at Headways because they probably do not believe that it's there or else they would not do PP at that rate and therefore deluding their own potential profit. You do not stop drilling a potential game changer at a max. of 500m from the goal.

[ramblersrest]

Been trying to use hrattle strategy last two weeks . Sold some Mega (25 %)  near recent top and went into 8 Graphite plays . Hoping to get a bounce from them in time to get it back here for the Headway bounce . The graphite story is compelling with only 15 public companies (all explorers) in Canada . They mostly have very,very low floats ...As the year goes on there will be scats of co

[hrattle]

...and went into 8 Graphite plays Should be lots of buzz at PDAC about graphite - I'd probably short NGC if I was into shorting!

[tootall123]

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