Cash backed at 6c/share, and trading at an EV of approximately $2.5M, MKO is being priced at $13/oz.
This is one of those few stocks where holding and hoping will eventually win out because the market won't be able to turn a blind eye to such a cheap goldie when the it gets its act together. I can average down quite nicely to around 12c here for relatively small outlay, and that is exactly what I'm going to do over the next week.
Unlike many on HotCopper, I am welcoming this lapse in market conditions right now because it gives me an opportunity to accumulate stocks that have good value, but are just being sold off because of issues completely unrelated to the company's fundamentals.
MKO Price at posting:
9.6¢ Sentiment: None Disclosure: Held
