Re: Nice Spot Price Move
posted on
Feb 22, 2008 09:03AM
I think part of our demise in SP was not only the great drop in LME. The delay in McWatters. It was also in part the exercise of warrants at low prices and then finally for the quad whammy - preparation for tax loss sales and tax loss sales. Then the full effects of the mortgage credit debacle, recession analysis and a run for cash. Now I think there is expectation of McWatters advancing but conversely the question is are we at the bottom yet? Me, I look at the bottom is pretty close - and yes I could buy it cheaper but I also support the shareprice. Our costs have averaged down with buying cheaper shares and I believe in the upward trending of the share price. I may not get the cheapest price but I see growing value in the price. The spot price just makes things more attractive . Because we are in production, higher spot price means more money can be used for advancing the project. I once asked the president of BD when would we see dividends and he said that for many juniors it is the advancing of the project and managements ability to produce value in the property and increase Share Price. This year has been tough but the times are tough too. People are just plain scared. The market place is international and not just the United States. Just my humble opinion.