This is now getting decidedly ugly although the trading volumes remain small the lack of buying interest suggests Musgrave has a bit to do to win back investor confidence. No doubt the drop in the gold price is a factor but to be smashed over 40% means it has taken a bigger hit than most other goldies. You have to hope the drilling program currently underway returns some positive results otherwise "we will all be ruined". The company does have what appears to be a mineable deposit at Break of Day but with a sheeeet gold price and not much else in the offing in the short run that by itself won't halt the share price slide.
I for one am hanging in there in the hope that better times are ahead. I can't believe the pundits who say the DOW and Australian Market have more upside. There is very little money going into productive investment just instos using cheap funds to pump up equities. When the high levels of world debt finally hit the fan it is going to be very ugly.
MGV Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
