| To: orkrious who wrote (2323) | 11/18/2008 2:48:18 AM | | From: jackjc | 6 Recommendations of 5013 | | | The future could well see less sh outstanding, not more. Approx 14M wts expire in little over 2 yrs, would need 4 bagger from here to be in the money. BUT with the 1 yr hold after exer, unlike Canada rules, holders would need to be well in the money to chance it.
I believe MMG is trying all avenues to raise cash with non-serious dilution for the next couple months, but will then have the choice of reducing exp and waiting out this financial upheaval. They still have enough cash for that as long as the decision is not long delayed.
The metal ain't going anywhere, main question is how much is there ?? No info for months with much drilling with 5 drills.
I understand they are working on getting a block model update by the PAH guy before he leaves yr end for long vacation. The type of reporting is dependent on the SEC Guide 7 regs, under review for past month or more. Would be a real plus to get more insight on the resource, though good news has not been having much effect on my jrs.
The way Zn supply is being chopped the LME has increased little thus far. I thought the bottom was .73, maybe .48 is it, approx half of cost for much of the prod. As the closure pipeline runs out, and users run down stocks to conserve cash, no longer concerned about supply, then it will all depend on how much demand has fallen. Century mine is considering part or full stoppage, that would be big. Zn was first to fall, may recover first also. |
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