"MFN has been knocked down quite nicely with this week's correction. I am going to add a bit to the position in the speculative portfolio and initiate one in the 'preservation' portfolio.
I like that MFN - long hyped and loved by too many in the PM arena - is a young producer of both gold and silver, given my hedging via SLV puts. I am not a silver bear, remember. ;-)
I also like that MFN has tried not disappointing shareholders of late, a tack that is opposite to their previous strategy of over promise, under deliver.
Speaking of OPUD, here is some news from PDAC, and one really hopes Mr. Baily knows what he's talking about here.
* Output in first two months of year ahead of Q4 output
Technically, this is thus far a healthy pullback, with the EMA 70 (9.70) as a target. I am going to do the usual and add now and not worry about a few pennies. But I also remain prepared to add more SLV or other hedge protection as well as sell MFN if I sense that Mr. Baily is returning to the tried and true strategy of OPUD. Ultimately, the upside target would be 15.50 if MFN should exceed the noted resistance at 12.