A long term story. Price started recovering a couple of months ago to 12c but then they announced the stake in the Solomons gold mine consortium, and down she went again to support at 6.8 to 7 c. There is some sign of life on some days, perhaps there will be more postive share price appreciation once the Biogold acquisition in China has final approval and is bedded down. It has taken much longer than expected for them to finalise this deal, which when approved, will provide steady cashflow.
The problem with the Solomons mine is that it is going to take a substantial amount of money and I fear this may keep the price depressed until the market is convinced.
Gets a higher volume on some days for no apparent reason, then settles down again. I wonder if someone is quietly accumulating at these low prices.
MIC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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