Been a bit quiet on the MKO front lately, so had a quick review of their last announcement to see what we can expect from the company, and when:
===================
The following work has now commenced or is planned for completion within the next two months :
? Initial mining studies to determine optimal pit shells under various economic parameters.
? Environmental audits of the projects and determination of the regulatory steps.
? Geotechnical investigations.
? Preparation and submission of mining lease applications over the projects.
As previously indicated the Company is pursuing the development of early cash flows from MTT projects in parallel to its advanced stage gold exploration projects. Work is underway to define drilling targets and priorities on the Windanya and Bullabulling projects following the recent acquisition of 11,000 line kilometers of high resolution aeromagnetic data covering these areas. The Company will advise its forthcoming exploration drilling schedules in due course.
===================
So between now and 25th July we can reasonably expect to get updates on the above info.
As for the slide in the share price, I would be more concerned if the market (and all other juniors were flying) and MKO continued it's downward spiral, however looking at the ASX and the TSX (I have some stocks there) my view is that it's a market thing. Juniors all over the world are down in excess of 50% over the past few months, simply due to market sentiment.
I also think punters are very nervous about the Euro debt issues along with how markets will react at the end of June when QE2 finishes.
Alot of uncertainty in the market still...we'll have our answers in due course.
At the end of the day, its important to remind yourself why you have exposed yourself to the gold price, and ask yourself whether the factors that have contributed to gold rising the past 10 years straight have been resolved, or will be resolved anytime soon.
I think the bull market in gold will continue for some time so am happy to take a risk and gamble in a company suck as MKO.
Have a good weekend.
Cheers
SW
MKO Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
