For a newcomer you read it better than most Paul150.The MMN...

For a newcomer you read it better than most Paul150.

The MMN silver prospect is, as others say, about the only true silver prospect in Australia (others are bi products from mining other primory metals). You may be better served by studying the charts on silver, rather than MMN, because as you rightly called it the resistance at 13 is considerable, so buying close to these levels can be risky.

Despite the good grades of the prospect, the fact remains that at this point in time the strike is only small with a short mine life. Further strikes would obviously drive the price much higher but there are no guarantees. The fact also remains that in the world there are few big silver prospects, most of the world's silver comes as bi products from other bulk mining.

Silver is very cheap at this time, so small strikes are not going to dazzle. I believe the most important entry point here before a bigger strike is confirmed is entering and exiting on the big picture, ie the price of silver.
In my opinion the price of silver has good potential for very significant rises, but do your own homework on this. Silver also tends to follow gold which is looking very bullish and could well be in a long term bull trend. If this happens as most expect, the price of silver has potential to rise far more than gold, world stocks of available silver are getting dangerously low.

A breaking of resistance at 13c would also indicate better things, but investors do their homework and this is likely the value of MMN at this time, anything above is likely to be on spec of either rising silver prices or successful drilling.

Good to see you studying your charts and taking a careful look, it's easy to be sucked into many small cap stocks by enthusiasm on HotCopper. Most guys here mean well and most posts are informative and backed by research. However it's difficult for a person who believes in and invests in any stock not to suffer a little from tunnel vision. Lets face it, we all tend to do it.

Good luck in your trading.
I'll rephrase that...good trading, you create your own luck.

Bomber