Macmin wshould be good for a trade at the current support level. The company is the only pure silver producer in Australia, and with silver prices at record levels and heading higher, it would have to be compelling reason for a rally. This mine should have a future given the outlook for silver, but I question whether the reserve base is there. Clearly they do as well since they have just raised $20mil. The company also has a 14% stake in New Guinea Gold Corporation, a TSX-listed company which holds various gold-Mo interests in PNG. Looking at the tenure of the exploration results to date, they really need to go out on thin limb. But there might be a good rally in them yet.-----------------------------------------
Andrew Sheldon www.sheldonthinks.com
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