MML 3.19% 91.0¢ medusa mining limited

Accumulation over, time to fly

  1. 1,176 Posts.
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    Medusa share price has lagged behind the recent gold price rally for the following reasons:
    - accumulation by big entity and fund managers who kept the share price in a tight range to soak up shares before the next leg up.

    - The company is about to finalize the results of recent drilling campaign and IMHO it will be impressive as more veins are expected to increase gold reserve.

    - The license renewal of Oceana gold is coming soon and that will boost the confidence that Philippine is changing its attitude towards mining company, hence reducing sovereign risk.

    -Gold is expected to get to $1850 by end of this month, increasing profit margin.

    -No news is good news and the quarter report is around the corner, hence the company is on track to deliver at or above target production.


    - One of the few gold stocks that investor will see a strong value upon the release of good report, hence capital will move into the company. The addition to Australian 200 marked the beginning of the accumulation by big institutions. Expect an a release of substantial holder around mid week, IMO.

    I have taken a good position with half percent of the company and looking to add more.

    Cheers, Sydney

    Only my thoughts
 
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Last
91.0¢
Change
-0.030(3.19%)
Mkt cap ! $189.0M
Open High Low Value Volume
94.0¢ 94.0¢ 90.0¢ $548.9K 598.7K

Buyers (Bids)

No. Vol. Price($)
3 25893 91.0¢
 

Sellers (Offers)

Price($) Vol. No.
92.0¢ 50000 1
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Last trade - 16.10pm 14/08/2020 (20 minute delay) ?
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Last
91.0¢
  Change
-0.030 ( 0.00 %)
Open High Low Volume
91.5¢ 92.0¢ 90.5¢ 51863
Last updated 15.59pm 14/08/2020 (live) ?
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