Mega Precious Metals Inc MPRXF

Can it go lower???

[GeneralLabour]

If our SP goes lower it will certainly be great news for those looking to get into MGP. Is there any opinion on how low some beleive it may go, my guess was .50 but we seem to have no problem beating that.

[hrattle]

It depends upon the PP - if it closes then I doubt this will drop below the 45 cents seen earlier this year. If it has to be revised then a new 52 week low below 34 cents is possible. Most of the buying seems to have been short covering - there is still 2.7 m (at much lower prices) to cover so this demand is still there. My guess is that the PP is revised to 55 cents and this drops to 40 cents and

[caldernet]

If the shorts are covering that implies that we're closer to the floor than not eh?  

[hrattle]

Yes - short covering does imply they believe it is near bottom. Most of these shorts were taken nearer the 70 cent price and a 25-30% profit in two weeks regaredless of how much lower it could go is enough for most traders. Taking a profit is what this is about - not taking the most profit possible. In addition there are 2.7 million shorts yet to cover - so nearly 60% of the short position is

[tootall123]

This post has been removed in accordance with Community Policy

[Curvature]

This post has been removed in accordance with Community Policy

[threepalms]

Curveball.stop flogging that dead horse will you. There is NO basis for your position that the Headway is dead. There is absolutely no factual evidence that supports this opinion, rumour or whatever you choose to call it. Until management fails to send a drill to Headway by mid June all you are doing is posting gibberish. Stick to the facts.

[hrattle]

headway is a dead duck Curvy that post was so profound! With such clarity and logic it must be true - how could anyone disagree?