These guys continue to deliver the goods. Further drilling is planned, production is being cranked up, yet people think MRX is worth less today (after the announcement of a significant resource upgrade) than they did yesterday?
It's hard to fathom.
I think finally it might come down to a general questioning of whether the US recovery is actually underway - and hence whether commodity prices are on the up. In my experience, recoveries tend to run this way in the early stages - waves of exaggerated enthusiam followed by overblown pessimism, until a clear pattern emerges.
I still like MRX, and will be buying on the back foot.
MRX Price at posting:
0.0¢ Sentiment: None Disclosure: Held