nick garling buying shares - $2.5 million, page-140

There will be many myths busted this year.
MCO is the perfect play
MCO has perfect ore
MCO has the perfect plant
MCO will be the lowest cost producer
NG is a conservative under-paid battler
Dividends, large cash flows too name a few.
A few things you need to remember when talking to company reps - they have a story to sell and without shareholders capital have nothing.
NG sold 26,000,000 shares last year for $6.6 million. Yes he bought 5 million back at double the price for $2.5 million. Yes he supported the share price for the brilliant $15 million capital raising. Yes he and all past and present directors have sold down their holdings.
Yes it will be a slow year and I think expectations are way too high.
However this is a speccie with potential but with time may turn into a good producer. The odds aren't on their side though. There is no greater risk than investing in explorors turn producers. Bare that in mind. Not a time for retirees to put all eggs in one basket.
Pay little attention the rampers who will support this stock regardless. They were ramping at 40 cents, they were still ramping when it feel to 8 cents and they're still ramping today.
SLR is used as a benchmark a lot here. However SLR had a market cap of just $60 million after it had announced a increase in cash reserves by $8 million from 13,000 ozs with $650 cash costs for the quarter and risk was reduced. MCO has a market cap of $130 million and has just announced a $3 million loss and is only targeting 8500 ozs per quarter. No comparison in value.
Will the market like the story? A small producer that will only extract 34,000 ounces at best and have already said all monies will be sank back into the company.
I'll be watching with interest and hope to be a MCO one day. I need to see the cash first and for someone who has invested for more than 3 decades, it's the only way to CONSISTANTLY and safely make money in gold play.
Oh and low cap explorers with nice stories.
Some posters aggressively defend their precious baby but there are some good realist posters about like Loki, Triage, Mal and co. So please don't get in a twist. The sun will rise tomorrow.