I know what you're saying Huge - but I think of it this way: it's great that the employees and directors may have hide in it, and that'll increase the chances of them getting it to work, but as an industry as a whole, if the share price and gold price tanks, whether they're dedicated to the company as a whole - we're all still going to lose money. And to me that's all that counts. JG could have 90% of his life savings in this but it doesn't matter if both of us are losing moolah if POG drops to $1200, $1000, who knows what.
MYGOA are about 80-90% underwater according to my portfolio report, and I dread essentially 100% at this rate if nothing significant eventuates or drilling/resource upgrades don't pan out by june. Essentailly I'm at fault for stacking so much of my portfolio into gold resulting in such a major wipe out, but I guess the issue is while the market won't completely pack up and go home, it's no use being 30, 40% underwater either.
Luckily MYG is aiming to be a low cost producer, so there may be some saving grace then all the other exploration phase flops i'm still waiting on (probably won't recover in my lifetime) such as GOR, BAB etc. But JG and show really need to get some positive milestones ticked this month and POG really needs to hold steady, if it drops further we're all going to (i'm afraid) lose alot of money :(
MYG Price at posting:
6.3¢ Sentiment: None Disclosure: Held
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