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I have feeling Whoever recommended this stock is quietly accumulating. Why? Because they don't want to be wrong, especially this time. You know what I mean.
Chart is looking pretty good now. Should reach a buck in a month or two...
JMHO
Picked up a few shares at .615 May have paid a bit too much but I think this could be a great long term play. I really like the mining plays!
In February, MGP raised $11.5 million in a private placement at $0.80.
MGP has an inferred resource base of 1,212,000 ounces of gold! If MGP is ever successful at turning its 1.2 million ounce inferred resource base into a proven reserve, the company could one day deserve to be trading for $500 per proven reserve ounce or more, giving the company a future potential valuation of $600 million similar to PG. Of course, it is impossible to predict whether or not MGP will be successful at turning its 1.2 million ounce inferred resource into a proven reserve.
MGP is trading for below book value! MGP had a book value at the end of the last quarter of $0.57 per share and that was before the company raised $11.5 million at $0.80 per share!
Stick to the subject - Mega Precious Metals Inc... further discussion of NIA/Shiff will be deleted. TY
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That was a good, well-reasoned and balanced retort to the entire overblown debate.
Thanks.
I trust this guy the most!
Your job is done here? Gee, thanks for setting all two of us straight.
I like Peter Schiff, too. I still like NIA's videos. They are free of charge and informative. I've never ponied up $1,000 for their picks--that was absurd.
This whole thing is a distraction from the real nemesis--the Federal Reserve and elite bankers. And none of this is the fault of Mega Precious Metals. This company is not a scam. Volatile and risky...yes. But not a scam.
Now can we all get past this NIA vs. Schiff tempest in a teapot?
Peter did another video
This is no scam or pump and dump--no matter what sort of distortions are being spread...it's a legitimate gold explorer. Risky? Of course. But promising. JMHO
Mega Precious Metals facts
http://www.megapmi.com/assets/files/Mega%20FactSheet%20%20May%202011.pdf
Since the moderator seems to be absent, I reported your nonsense to I-hub.
Time for you to go play in some other sand box.
inferred resource of 1,212,000 ounces don't mean squat
Of course it means squat. It means 'inferred resources.' Sheesh.
You're way over-reacting. Are you Peter Schiff? And your BF statement--it should be 'advice,' not 'advise.' You need a noun there--not a verb.
Your hateful statements do nothing to illuminate the situation.
inferred resource of 1,212,000 ounces don't mean squat
Peter Schiff isn't embarassing himself, he just pointed out the plain truth about your (NIA) objectives. NIA has now discredited themselves from any trustworthy advise.
Seems it's only you two that are blogging to uphold these cockroaches.
Schiff is at his best when attacking crony capitalism and the Federal Reserve--not one of his colleagues. NIA has put out a lot of informative videos. So has Peter Schiff. The NIA wants to help themselves and their subscribers make money on precious metals. So does Peter Schiff.
For him to expend so much time and vein popping attacking them as pump and dump artists (not true) is a big waste of his energy.
I love Peter, but I wish he didn't do that to NIA. He is embarrassing himself. I still give credit to NIA and Jonathan.
I guess down one cent is what many people consider a 'dump.' LOL
It seems like almost no one cares what Peter said. There is no "sell off."
Oh come on...tone it down a notch.
The NIA has done a lot of good and have informed the public about the inflation to come.
You sound very happy that their latest pick is in the red. Enjoy yourself.
LOOKS LIKE THE NIA HAS BEEN EXPOSED!!
Also Looks like this was your last Pump and Dump NIA. Thank God!!
They're SELLING NOW DUDE! SELL! SELL! SELL!!
No DRAMA - Just Truth VS Cockroaches (NIA)
Listen to Peter Schiff's Podcast and here for yourself, NIA steals all his content and recycle it for their own sleezy purposes. Listen expecially concerning this stock. Look who's behind the NIA, the biggest Pump and Dumper of them all.
Run, Run, Run, from any penny stock they suggest....
SELL, SELL SELL!!!!
They've tried to screw everybody!
A big drama is going on between Peter Schiff and NIA now. I don't think it is necessary.
NIA respect Peter. NIA knows Peter is the one of only a few people who can fix U.S. economy.
Now Schiff is saying they're the biggest?
So what did they pump and 'dump' before? I look at their picks and see a lot of successful miners.
It's not like they're pumping some pink sheet garbage.
IMO, Schiff went after the NIA because they're stealing his thunder--and diverting business from his own coffers.
Why nobody sold this stock today if NIA is scam?
Peter Schiff is Right - NIA are the biggest Pump and Dumpers - Watch your butt guys!!
I didn't expect them to respond, but I thought NIA's answer to Schiff was tactful and well-reasoned. They didn't even refer to him by name. It made Schiff look like an angry hothead.
MPRXF is already at the low end of its channel. Doesn't need to sell off further unless gold drops precipitously.
I thought mega was going to get killed because of Peter Schiff comment today, but it seems like people believe NIA more than Peter. I do believe both. Actually, they are both on the same page. I like Jonathan's picks are the best anyway. Peter might be too conservative.
Schiff may have a point on the investing part. He has many more inside contacts than I do.
He is a big fan of the NIA.
These are two different points, and I have no idea if they are selling after the runup. If they are, then they are in violation of SEC rules.
I think you are correct. They are not selling.
Shermann
The NIA has done a good service by alerting many Americans to our hopelessly flawed money system.
As far as their stock touts...I can't see what Schiff was talking about. Pump and dump? Most of their picks have not been 'dumped.' They're good quality companies. And all of them went up a lot since they were announced. So what if they help out subscribers by giving them some picks. The more I think about it the more Schiff looks like angry sour grapes.
Looking at the chart, it sure does look like the long-term downtrend has broken. Next week is key, though....needs to stay above .53 or so to confirm.
The NIA has good picks, but there is one note here.
They have already made their investments when they anounce their picks. A lot of people follow them, and once the pick is anounced a lot of people buy it creating a spike.
This is normal for people making investment recommendations, but it sure does well for them.
Having said that, the NIA is truly a great organization.
Shermann
More on the NIA
http://www.gerardadams.com/economicexpert.html
Yes, I read that and they make some valid points. Look at the list of their picks--all solid choices and some are top of the line. None are pump and dump-type scams.
Peter Schiff was probably mad that they use similar material and take similar stances and are gaining popularity and members. That cuts into his business.
Everyone associated with the markets can be loosely construed as pump and dumpers. When we buy a stock we want it to go up. We extoll its virtues. If it goes up and targets are reached, we sell. It's all a pump and dump to a degree...
I think Shiff got it wrong, saying that even thou they did not by or sell shares but gained via third party payments so that the 3rd party could dump, i think this is highly dubious. That's my opinion anyways having follow NAI and associated Wall St Grand for some time.
From my experience, and from just looking at the chart, i would say that since MGP has been in a downtrend for quite some time now, some investors have decided to sell on the reversal rather than wait for the stock to rebound, which it may still do, i have no idea as I have not researched this company.
NIA have emailed their members, commenting on Shiff's commentary
copy/paste - below:
Yeah, I saw that. He sure did skewer the NIA and their latest 'pump and dump.'
I wonder what the NIA or this company has to say about....probably nothing.
Check out this Peter Schiff video!!!
Reason for the pop today:
Mega Precious Metals Inc. (TSX Venture: MGP)
Currently: $0.37
http://www.megapmi.com
Important: NIA never recommends that you buy or sell any stock. We are not investment advisors and don't provide investment advise. NIA strongly warns when buying or selling any stock that you always use a limit order and never use a market order. It is also a good idea to always be patient and never chase a stock if it rises above the price you liked it at.
NIA is pleased to announce to you its latest gold stock suggestion. The company is Mega Precious Metals, Inc. and it is trading in Canada on the TSX Venture exchange under ticker symbol MGP and in the U.S. on the pink sheets under ticker symbol MPRXF.
MGP is a gold exploration company with three major gold exploration projects in Canada. MGP's most advanced exploration project Monument Bay is located in North East Manitoba. MGP has two earlier stage exploration projects located in Red Lake, Ontario called North Madsen and Headway.
MGP has 74.3 million shares outstanding and at its current share price of $0.37, MGP has a market cap of $27.49 million. In February, MGP closed on a private placement in which it raised $11.5 million by issuing 14.375 million shares at a price of $0.80 per share. MGP is currently sitting on around $10 million in cash.
MGP's current share price is less than HALF of where major investors invested $11.5 million into the company only three months ago! To the best of our knowledge, nothing negative has happened to the company since then. The stock has slowly drifted downward on very low volume averaging only 75,687 shares per day. We believe MGP is an undervalued, undiscovered gem, with astronomical upside potential once the investment community discovers it.
MGP's Monument Bay property has an inferred resource of 1,212,000 ounces of gold! If you subtract MGP's estimated $10 million in cash from its current market cap at $0.37 of $27.49 million, the market is valuing MGP's 1.2 MILLION ounce gold resource at Monument Bay at only $14.43 per ounce! Gold is currently $1,483 per ounce, which means MGP's NI 43-101 compliant gold resource base is being valued at less than 1/100th the price of gold!
That's also not giving MGP any value at all for their North Madsen and Headway properties in Red Lake, Ontario. Not many people know this, but gold was first discovered in Red Lake in 1926 and less than a decade later in 1936, Red Lake's Howey Bay became the busiest airport in the world with more flights taking off and landing per hour than any other airport in existence worldwide.
Goldcorp (GG), which currently has a $38.9 BILLION market cap, has a gold mine at Red Lake called the Red Lake Gold Mine, which is Canada's LARGEST gold mine! In 2010, GG's Red Lake Gold Mine produced 703,300 ounces of gold at a cash cost of only $297 per ounce.
MGP's North Madsen properties at Red Lake are comprised of the land packages of Laverty and East My-Ritt. The Laverty claim consists of six patented mining claims totaling approximately 240 acres that are contiguous with the historic Hasaga and Howey gold mine properties, which produced approximately 640,000 ounces of gold within similar host rock to those located on the Laverty property. Historic exploration on the Laverty property has confirmed the presence of extensive near-surface gold mineralization.
MGP's East My-Ritt property consists of eight patented mining claims totaling approximately 320 acres that are contiguous with MGP's Laverty property and adjacent to the historic Hasaga and Howey gold mine properties. Gold occurrences spatially associated with the structure include diamond drill intersections grading 18.2 g/t gold over 3.5m and 7.43 g/t gold over 1.0m.
MGP's Headway property consists of six (6) patented claims and one (1) unpatented claim units totaling approximately 320 acres. The property appears to have all of the essential geological elements including a well-developed intersection pattern of stratigraphic, shear / deformation zones that are associated with the high grade gold system on the adjacent mine properties.
MGP has an experienced management team that is committed to an accelerated growth strategy to develop MGP's projects. MGP's CEO Jim Rogers was previously GG's Regional Exploration Manager for the Red Lake region who was credited with discovering GG's high grade zone at their Red Lake Gold Mine. That's right, the person who discovered the high grade gold zone at the Red Lake Gold Mine, the largest gold mine in Canada, which produced 703,300 ounces of gold last year and is owned by GG, a $38.9 billion company, has now become the CEO of MGP and MGP owns two major properties at Red Lake that NIA believes the market is currently giving absolutely no value to.
MGP's Chairman is Ewan Downie, who is currently also the President and CEO of Premier Gold Mines (TSX: PG), a $624 million company. He was previously the President and CEO of Wolfden Resources, which was acquired by Zinifex Limited for $360 million.
NIA does not own a position in MGP. NIA could accumulate a position in MGP in the future. If NIA decides to purchase MGP shares, it will be fully disclosed at the bottom of our MGP profile on Inflation.us.
Our Legal Disclaimer: http://inflation.us/legaldisclaimer.html
-9.09% is the scorecard for the week...
News comes from these folks on a regular basis:
http://www.megapmi.com/releases
My friends, for Friday: +6%!!!
Share price is going out with an uptrend...
An awesome 2010 here... lots of reason for optimism.
Still standing above all the major moving averages...
Yep, it did and retraced the whole move!
PPS is turning a significant corner, seemingly...
This has been falling like an anvil out of a 747...
Standing by for that 43-101 in April...
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Mega Precious Metals is a junior Canadian-based precious metal exploration company with projects in Red Lake, the Yukon and Nunavut. Mega is committed to an accelerated growth strategy and despite the market uncertainties, remains optimistic about commodities in general and the precious metals outlook in particular.
Backed by a team of experienced mining experts and a strong financial position, Mega Precious Metals is well poised for rapid expansion through quick response to new opportunities and changes in the market.
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