I'm glad you're satisfied with the response from the company.
Some of the larger shareholders may have applied pressure to raise capital now. As you articulate - clever move on their part.
Your patience served you well with Centamin Egypt. I traded CNT and CNTO many times. I recall when they were about 12 cents. They were proving up a multi million ounce resource. Completely undervalued, misunderstood by the market at the time. Sub US$ 300 gold didn't help. Along with OXR et al, CNT was a highly leveraged proxy to the gold price. As is so often the case (with me anyway) I didn't stay for the whole ride.
Marengo is a similar story in the making. It's encouraging to now see third parties identifying Yandera as a world class copper resource.
Release of the DFS places Marengo at the Production Decision stage.
Additional drilling for resource expansion will continue in 2011, but essentially, the DFS (to be released in the next couple of months) will provide the decision to mine.
MGO Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held
