AUN.V Weakness, Let me take a stab.
Im guessing many got in during the spring expecting 2500tpd production out of Shafter (their 2nd mine) shortly after the announced commissioning date in April.
Early year, the company danced around the fact, that normal start up problems & the jumbo task of getting the mine staffed with a competent crew would take awhile. Then, there was the water problem.
They also didn't mention upfront, the commissioning and testing phase leading to commercial production of only 1500tpd taking until year end.
So in short, the current price reflects the time period during spring, when the market thought they'd see 2500tpd from Shafter on top the 2500tpd from LaNegra in a couple months.
Couple that impatience/insecurity, Europe insecurity and the metals correction, and you have buyers waiting and sellers drizzling off.
I think it take's until spring to see proof of the big numbers and the project being de-risked to get the superman. At that point, they will have First Majestic (500% more market cap) in their sights and the world will see it.
I don't see anything fundamentally wrong there. They are lining up big additions everywhere, production, cash flow, total resource numbers, total land patents and lower costs.
Just my opinion but what do I know!
I just hope to see my .30 warrants at 2.00 by mid year.
Checkmate28
