Right now MNM has got very small volume of which majority is Fortrend selling- terrible for SP Right now MNM has given us no short term information to help the SP. Short term traders will not want to be holding MNm right now and rightly so. I love MNM but I would not have been buying MNM for a short term trade the past 4 weeks either. why Fortrend is selling so why buy while they selling unless you have a longer term view of 3 months plus and know/like/understand the MNM fundermentals?
For me its about longer term. No point me selling MNm at a loss and buying it back higher in 3 months when we start drilling Mt Mulligan/coronation. I get a tax benefit from selling after I have hold 1 year so its not a huge deal for me. I could go buy another share with more upside short term I suppose but IMO MNM is worth 10x the current SP so not worth the risk IMO... I was fortunate to have started accumulating cheap so feel for the ones with an average over 16 cents or so but this is the market, what about the ones who bought LYC at the highs...
so many variables and we all have different timeframes. Some people buy a share and when it goes down 20/30/40% they sell regardless which is fine as we all different. I have followed MNM and traded about 30% of my holding the past few years and I am a true believer so I hold.
Right now we need fortrend to run out of shares. Right now we need some positive news from IK Right now we need to see where the money raised the past few weeks is going to be spent. Right now we need people to get excited about Mt Mulligan drilling,gold/silver potential. Right now we need people to look at the varienty of assets and give each individual resource a value and see that a MC of 15 Million is way way too cheap. Sentiment is low and news flow is slow.....this will change fast and I will be here holding all my shares when it does...
yes this sucks and many of my friends are also not happy with the SP but they also the same ones buying most of the fortrend shares...
if we asked most people reading these HC posts where they think the MNM SP should be they would probably say over 20 cents which IMO means buy... If they thought the MC/SP is overbought it would be a sell..
don't be selling because Fortrend is selling, IK is a smart man and he will be watching closely IMO,,,HE BETTER
MNM Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held