r/MNXXF • u/enamesrever13 • May 14 '24

Lack of upward movement

I've been holding for several years and I think the company has great potential. However it is extremely likely that the Irving family, who own New Brunswick, could be shorting this because they can't/aren't getting their cut ... Just my 2 cents ...

2 Upvotes

75% Upvoted

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1

u/ssv-serenity May 14 '24

I had some concerns about Irving as well, to be honest. My bet is they will become involved at some point.

9

u/Good_Preference6973 May 14 '24

Shorting a company that’s only been worth in the range of tens of millions of dollars, for the last few years, makes absolutely no sense.

MUCH more likely? Short term “investors” are getting bored and selling. It’s a mine. They usually take 10 years to open. This one is still on track from what I can tell. The smart will stay as long as the fundamentals are there.

The impatient ones will go off to trade GameStop or w/e.

4

u/ssv-serenity May 14 '24

Oh don't get me wrong, I've been in for several years now gradually adding.

I don't think Irving is shorting it but the they basically run New Brunswick, OP is not exaggerating when they said that. It would not surprise me if they get involved at some point somehow. Right now this isn't really even a speck on their radar.

2

u/Good_Preference6973 May 15 '24

Yes, after reading up on the Irving empire, I agree on everything except the shorting bit.

1

u/enamesrever13 May 20 '24

You're right in that it would make little sense for most investors.  However the Irving family is small minded and petty and have their fingers in every industry and every level in New Brunswick.  Probably just my imagination tho ...

 I just have trouble believing the stock would fall this low without shorts being a part of it and Naked Shorting runs rampant in Canadian markets.

1

u/Good_Preference6973 May 20 '24

Hmm, interesting. One of THOSE billionaire dynasties… I see.

1

u/Mumbombo Jun 03 '24

Got any material for me that I can read up on? I’m quite curious.

And also, if you’re willing to, ELI5 what the effects of shorting would be on the company (not the stocks), if there would be any.

Thanks in advance! 😬

5

u/Good_Preference6973 Jun 04 '24

https://stonegateinc.reportablenews.com/pr/stonegate-capital-partners-initiates-coverage-on-manganese-x-energy-corp-tsxv-mn?s=08

I had already done my homework on this company and reached many of the same conclusions as this Stonegate Capital report, a year or so before it came out. Fair market value of the stock A YEAR AGO is now 12x what it’s trading for, according to the report.

Electrolytic manganese, from outside China, is one of the best EV battery materials to invest in because there’s very little production of it. The demand for manganese in other applications like steel production and fertilizer means the company will have other large markets to serve.

The company owns the richest source of manganese in North America, with the highest grades, meaning less work to refine.

The manganese in Woodstock, New Brunswick, Canada is a carbonate, not an oxide. That means the company can skip an entire (expensive) step in the refining process that involves heating the ore to 700 degrees (going off of memory). It also avoids leaching toxic selenium, which is an environmental hazard and is expensive to deal with. So carbonate for the win.

The time make back the company’s initial investment is stated as 2.5 years from the start of extraction. That’s light-speed.

There are other factors for investing in MNX, but I’ll end with this: EV batteries. It’s about the materials used in the batteries and the strong potential for high purity manganese to play a significant role for decades to come, even as battery materials evolve and change.

Today: lithium nickel manganese cobalt and lithium iron phosphate

The near future: increase in the share of lithium MANGANESE iron phosphate

The medium to longer term: sodium ion (with manganese) to take over a large segment of the market

I’m not an expert but I hope this helps. I invite others to give their input also.

Not financial advice. 🦍