very healthy consolidation
Not a bad call Philbert, just for interest....
Since we're near the close of trade for the week thought you guys might like to know that MLS has turned over nearly 100% of their stock (by volume) at an average price of more than $0.06!! The buying that we've seen between 6-7c has been good for the stock, but the expected profit taking today (it is Friday after all!!) shouldn't have come as a surprise.
MLS is a long way from the 2c of a few months ago and starting to reflect the true value of the stock. I used to value this stock at between 6-7c, based on it being an exploration 'play', but I think that the work program is far further progressed than that.
The latest releases, and news from the AGM, indicate that the company is now moving into a phase of 'drilling out' the resources in order to progress to a scoping study, with a view to developing an operation. Management seem to be commited to this path and given what I've read, the stock could (and should) go to 10-12c in the short to medium term.
This figure does NOT include the tightening in supply of zinc, which will reach critical levels in the first quarter of 2007. Rising zinc prices and a resource upgrade will really move this stock along!!
Welcome to all the new players that got in this week, and have a great weekend!
*For discussion purposes only and DYOR.
MLS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
