Yes well at these prices (64 cents) MUN is nearly as low as it was back in January when the markets factored in huge risk. Admittedly Gold was the hot sector and a good hedge, hence MUN rallied to the giddy hieghts of $1.00 (wish I sold!!)
All that said, these levels are really cheap and it makes me want to increase my weighting but sadly I am overextended as it is.
From the announcement, I interpret it as another slight delay toward full scale production in July 08. Patience is the key, I think. Trading Matters predicted this stock as a hold till it gets to $1.23. That is near double $0.64 current Share price.
I believe MUN will rebound and when it does, it will rocket. People are probably selling because they feel they can get better buys elsewhere in the short term. No point panicking now, the last 10 months in financial markets has somewhat prepared me for that. Anything is possible, if you don't want risk, there is no point living (as the saying goes). Have faith.
regards,
MUN Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
