$Mithril Silver and Gold Ltd(MTH.AU)$ Still early days... I am not always right... in fact, I am always too early in a party 🎉 🥳 [Facepalm] [Happy]
MTH is primarily a gold and silver miner. What makes it interesting is that it is going for the old mines. I have attached a snap of a recent presentation slide here for reference. The mining discoveries so far have been amazement. I have been following this company for a while now, had missed to buy into the company before the last explosive wave up... was queuing around 10 cents just a couple of months ago, but had missed it [Spurting] [Facepalm] The share price went on a rampage all the way to 81.5 cents in a space of 1-2 weeks! I have waited patiently for the price to calm down and come down to something more acceptable... a market cap of ~A$50M. Athough it is still triple of what I would have paid, the potential of this mining stock is worth the wait and valuation.
When dealing with mining companies, patience and timing are important. I would normally avoid the small ones since they are mostly unsustainable in the brutal cyclical environment, exploring known old mines is another animal altogether. No doubt effort and time is still required, at least we know the minerals are definitely there, just how much. So far the result has been good... They are projected to complete the drilling by next year.
Looking at the price chart, a falling wedge pattern has been identified. It is only a matter of time that the price will turn positive again if it indeed plays out accordingly. The volume has been very supportive of that scenario with a declining trend, showing less appetite for a falling share price among investors. After all, this is a tightly held minor miner, which itself is unusual... meaning most of the shareholders interest are aligned with the company. I am looking at add to the initial position from last week... check it out! [Cool]
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No worries! Gold and silver are safe-haven assets, short-term downside is ok. Trust your own, mining pros!