Indeed, it is best to take a back seat and wait for the ensuing rally in gold and silver next week. By the looks of yesterday's trading on the Comex, it is already looking great for both precious metals stocks.
I really think we will see MKO at much higher levels...but we will just need a constant newsflow from the management in relation to drilling, exploration and any other material events.
With their resources at Anthill and Goongarrie, i am looking at the bottom line...that is, i am not too interested in the size of the resource but more towards the cash cost to extraction. This is because both of these projects are Mine, Truck and Treat projects and as such will provide immediate cashflow to their balance sheet without high upfront Capex needed. Concurrently, i am wanting to see a drilling campaign begin at Bullabulling and Windanya for serious discovery upside.
With all these things happening in the next 6 months and the underlying commodity [gold] to hit new highs, i can't seriously see MKO valued at these share prices.
MKO Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
