I had an order sitting at 23c for a week or so waiting for a pullback in gold. That order was finally picked up.
My philosophy with MOY is rather simple. I have held it for a few months in my personal portfolio along with SLR. I am bullish on gold for a number of reasons. Firstly, the downtrend in gold was broken early in the year and we could be in the early stages of another bull market. Secondly, read my other post on paper currency that outlines my thoughts on why gold could be the winner due to what's wrong with paper currency.
MOY are a turnaround story. They have a mine with about 2 years worth of ore reserves. However they have huge potential to expand this through the drilling programme they have started. Early and historical results indicate the LOM will increase significantly, and with it the SP. They have cash in the back and no debt. Lots of near term catalysts that could see Uowards pressure on the SP.
MGX released their quarterly. Sentiment may have turned and the SP has pulled back a bit. I am bullish long term on MGX for reasons I outlined previously, but I am considering moving the money elsewhere as I may be able to do better in the next 6 months
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