At the moment we are stuck in limbo awaiting permits and finance,and every day we yawn as we wait again and again. It's a frustrating slow process, but while we are sitting this period out,it is perhaps the right time to step back, take another look at ourselves and re-visit the old seemingly unanswerable question as to why is the SP persistently so low?
This question has been chewed over by those who rely on mathematical modelling only to those who rely on instinct and all those who fall somewhere in between. The reasons advanced are well known- Junior stocks out favour, finance hard to get, gold price too low, project needs to be further de- risked etc. etc. whilst all this is very relevant I don't think it goes to the heart of the matter.
A few weeks ago AJTRADER wrote an excellent post giving us a run down of Deflector's past,and it wasn't pretty. Deflector has a history of failure and not success. Us dedicated holders know that past problems have been ironed out and the chances of success are high, but try telling that to the punters out there. We have great prospects below the ground, we have good prospects above the ground( sound management and almost certain finance),and we will almost certainly have a mine this year. We are no longer part of the dross with some prospects below the ground but with nothing above.
However the stigma of past failure remains. When talking about MYG to others it this scepticism and cynicism which comes to the fore.-"I'll believe it when see it." If this in any way answers the question I have no idea, but this sentiment is music to my ears.
For those who are entrepreneurial minded, who can smell the X factor,back their judgement,take advantage of this negative sentiment and load up big by backing their judgement in down times like these will be the winners in a big way.Others may prefer the safer but surer slow grind up-fine, but for those looking to make "a killing",I can't see a better punt anywhere.
Hope this helps to relieve the current boredom a bit- I may be right, I may be wrong-who knows-but the smell of serious future money on the table will just not go away.
MYG Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held
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