Things appear to be moving along with this Company; despite the decrease in the share price!
I’m curious as to how you feel about the future potential of this project?
Thanks..Stan.
Investors did not like MOZ's revised study last year, and until recently the sector has not done much, either. The stock is down 25% YTD and 57% in 52-weeks. The recent cost update does show a slightly lower cost than last year, but of course this can change as construction continues. It now has 440 workers and is 27% complete. It remains on schedule for first gold pour in Q1 2025. There has been some minor insider buying. We consider it 'OK'. It is always hard to ascertain value when a mine is under construction. Problems can develop, and the mine has to perform to specifications. We have no specific reason to worry, but there is always risk (grades, costs, environment, inflation). We think it is a decent project, but share count has risen sharply and could still go higher. Once the mine is operational the stock should get re-rated, assuming all goes as planned.