MIL Resources (MGK.ASX) is in recovery mode. As expected the company established a support at 2c, or more correctly 1.9-2c, and is moving higher. There is temporary resistance at 2.3c, and I expect them to challenge the 2.5c level next week. The company is planning a 4000m drilling program, and I'd not be surprised if they expand this, though this will depend on their capacity to prepare drilling platforms and to schedule a drilling rig. The reason I say this is because they might have more current interpretation of the gold anomalies.
MGK is a rather undervalued stock compared to its peers, so I see this as a good stock to buy. It is an exploration stock, so there is a necessity to trade out of this one. Its a buy, and don't hold for too long. Its a stock you might be able to trade 3-4 times before production, at which point I loose interest, because at that point, they cease to offer predictability. Blessed are the explorers! That's about as religious as I get. Oh, and of course GOLD!! I had to repress it whilst I was a coal analyst.
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