right now the market is focussed on cash reseves and survival. we may all be confident about MCO but no one else will be
it is now virtually impossible for juniors to raise cash. I have positions in other juniors. One, ATV, just did a rights issue for $1.2million. Normally they would have placed the shares, its a huge hassle doing a rights issue for piddly amount like that.
I myself am not buying juniors on the market, I am keeping cash reserved for rights issues. Under a rights issue I can take up shortfalls and increase my position at a huge discount
I am only buying seriously cashed up mid cap resources right now like TRY DOM IGO These companies will take advantage of the market condtions and acquire resources cheap. In a couple of yeasr they will be dominant players in the industry
I have a lot of options in MCO. I was to confident about these being in the money. Still overconfidence is the hallmark of share traders. If the options expire out of money MCO will do a rights issue at a big discount and I'll probably be better off.
MCO is my favourite stock, I love the challenge of building a business and its great to be a shareholder in a company like this
MCO Price at posting:
13.8¢ Sentiment: Buy Disclosure: Held
