Typically in a downturn such as the one we are in now, Bad news...

Typically in a downturn such as the one we are in now, Bad news is acted upon and good news is ignored. This will change when we enter the last phase of this bear market.

IMO - By taking a step back and looking at the fundamentals of the company, index and overall market you cannot go wrong for the long term approach on MUN (as long as Anglo support them in the short term). I have looked at this from a technical chart perspective and may not be convinced for the short term (unless our last increase is a possible change in trend), but the fundamentals are strong (IMO) for 2+ year hold:

1. Gold is in favour and will be for the next year or two.
2. Mun is going to be producing at very low cost compared to other gold miners (due to the country, wages, cost of equipment etc)
3. MUN has already established the Engenho resource and has been proven also by Anglo.

If you are looking at two year+ investment MUN may be a suprise package (even after the severe drop the SP has already suffered) given their current Market Cap is only twice their expected annual EBITDA.