Your valuation of MNM is too optimistic POCKETNEWS. If it is...

Your valuation of MNM is too optimistic POCKETNEWS. If it is going to get there then it wouldn't be on fundamentals but speculation.

MNM's gold & silver JORC base is tiny at the moment. They are not producing yet and it seems that gold might have peaked so they are definitely not going to make much profit on the gold. The are probably going to make about $30 million at current prices (that's not including construction costs).

On the coal side of things, they have just acquired the tenament and haven't done any drilling. Its going to take a while for them to get a drill. Also their quoted figure of 500Mt is not guaranteed until they drill and confirm it.

I do like the prospects of MNM but its way too early and optimistic to say that it will go to $2 or $3 by the end of the year.