MGO's price action reflects that of an explorer--->Developer--->Up and coming producer.
Why do i say that? if you check out PNA's graph in 2005 when it was at about the same stage as where MGO is now, their price action was very similar. Back then PNA was developing their flagship Phu Kham mine and commissioning started in mid 2008. This of course was followed by the GFC.
But if you look at the timeline, in 2005 with app. 1b shares on issue, PNA was trading at around 18-20c (almost identical to MGO right now with same MCAP), it peaked at about $1.20 when the project was just starting its commissioning phase in early 2008. That gave it a mcap of about $1.2b.
I believe we are in the same situation here, we should see a steady rise in SP leading up to and through the commisioning of Yandera. Except we are in an even better situation than PNA as i dont believe we'll see GFC2 and the dilution that inevitably comes with it when companies scramble to raise capital in a depressed environment like PNA did in 2009.
So moral of the story is, you'll most probably see your exponential SP rise most likely in 2013, just before project commisioning.
Hang-tight & accumulate!
DYOR
Cheers
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