Guys, best to take a breather for the next two days. This is just end of the month trading and is happening across the board. Funds and profit takers will take some off the table before the weekend and will start coming in on Monday onwards.
Watch for gold and silver spot prices to increase and hence sentiment should filter down to the mid tiers and junior plays. I rather the firm just focus on their properties and disseminate their discoveries.
Owning a junior mining stock can sometimes be like holding a burning match. This is due to the extent that many of these juniors tend to dilute their stock while using it as currency to acquire properties or pay for their overhead. A term i like to coin as "mining the stock market". Of course, adding more shares is not such a bad thing so long as management can steadily accrete quality resource ounces per share over the LONG TERM.
The real trick is to know which MANAGEMENT TEAMS can successfully do this....and which ones are simply diluting the company out from under shareholders while blowing smoke. Best to always stick to PROVEN MANAGEMENT and not get phased with the daily trading patterns.
With James Searle [of Dragon Mining fame] at the helm and a well proposed game plan of short term [MTT] projects and long term bonanza plays, this is where my money is. Tight share register, low shares on issue and more than enough capital in the treasury to conduct their exploration and delineation.
MKO Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
