Mr Market is very odd. Happy to pay +10% on no news and no POG change. Just did not want to buy at 36 or 37 for weeks. But now happy to buy at 41 on a falling gold price. This really only means one thing. There is news about to come out that is positive. There is no other explanation.
Now I agreed with the maths that the 41 cent share, on CR dilution, should be 40.5. Yet Mr Market was very annoyed so sold down to 35 (on a steady gold price). Now gold price has fallen upward of 10% we find MGV flies up 10%. Nothing in the fundamentals explains the share price action. Only 'news to come'. So we wait for that news that some of Mr Market know about. I wonder if it will be a case of sell the news. We will see.
MGV Price at posting:
40.5¢ Sentiment: Hold Disclosure: Held
