Bob,Thanks for reviewing my post.I read all your posts with...

Bob,

Thanks for reviewing my post.I read all your posts with interest as you often make pertinent points.In some ways I agree with your review and in other ways-no-not really.
I completely concur that MYG is still a speculation and not an investment which you give a 50/50 chance of success.Nobody knows what the chances are ("50/50" is just a cliche which means "hangs in the balance")This point needs to be taken a step further.Even when the nebulous line from speculation to investment(I assume you mean in production)is crossed,the project is still not a "dead cert." The odds of success simply improve some.Being held hostage to the vagaries of a skittish gold price for starters,this industry, including producers,will always be living with the burden of real risk.
"Markets never lie"-only to a point I feel. Stocks with a long proven history tend to run on fundamentals-e.g. CBA,RIO TINTO and the like.The further you move away from the blue chips and into the speculative end of the market, the more irrational it becomes and for good reason-investors are taking a punt on largely unknowns.Running on gut feeling tends to become the norm for many with flimsy information passing for solid fundamentals."(only in the mind I'm afraid) Hence we have a market-driven by greed and fear-human nature-some would call it "MANURE." Irrational exuberance at one end and irrational pessimism at the other.This is how money is made and lost,optimists facing off against pessimists with the guiding hand being purely raw emotion.If markets were text book rational then opposing buyers and sellers would barely exist-to find an opponent you would need to have inside information or the like to break out of the mould."Under valued" stocks by definition would find it hard to find a place in this perfectly rational world.-Pure fantasy.
Bringing MYG into this picture, Bob you suggest that the SP is low because the answer lies somewhere in " the markets which never lie." I would respectfully suggest that you Bob do not really know,that I do not really know,and nor does anybody else really know what the real answer is.All I am prepared to say is that compared to a year ago our SP (in line with other similar companies)is now lower despite our fundamentals being much stronger.I would suggest that irrational pessimism has more to do with this than some unfathomable wisdom which is to be found in a market which "never lies."
My final point-In my post where was I coming from? Certainly not giving investment advice-I have been battered and bruised by the market for so long that I would not for a moment consider such folly as urging anybody to buy a certain stock-a courtesy which I would also expect to be shown to me.My central point was to impress upon the investment world that MYG has progressed-our credentials are much better than they were a year ago-to up grade the way in which we are perceived-a sharpened perception which better reflects our improved and further de-risked fundamentals.
Bob was not happy with my final 3 sentences as he felt that I was making a call which was outstripping the facts.To a certain extent he is right.My wording became a bit sloppy and did not stick tightly to my main point.I used the word "persuade" which clearly was inappropriate.At the same time Bob,you calling this "dangerous" was a tad over the top.
I enjoy being part of this forum.Opposing views are aired and accepted and some of the humour is really priceless.And so are the pearls of wisdom which are attached to the end of several posts.A favourite of mine which in this instance is appropriate-"A place where all men think alike is a place where no one man thinks very much." This forum is lively and vigorous and I would not want it any other way. For today-thanks Bob.