MAU is a $696M company that is pre-revenue, and funds its operations through share issuance. But, it has an OK balance sheet, and analysts have been raising their price targets on the name following the de-risking of its Kone project development in Cote d'Ivoire. There has been good news flow coming out of the name recently, and it is advancing its development of the Kone gold project. We like the momentum and positive news flow from the name, and for a high-risk, more speculative play, we would be OK with a small position here, while being mindful of its small-cap risks, pre-revenue stage, and position sizing.
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