MTN - Marathon Resources

[kennas]

I am interested in buying in this one. Can anyone let me know what are the positives of this stock? I believe they already produce uranium. Can anyone let me know why this is a good stock compared to other uranium stocks? I am interested in it because it is a cheap stock at this stage.
:)

Not producing Fab. Mt Gee has 45 m lbs inferred uranium with scope to increase it. They have now got a contractor in (Coffey) to take it to JORC indicated and measured stage. This is a massive deposit. SA is a U friendly state, unlike WA and less so QLD (I think due to having less coal) but will still probably need Labor national policy change to start mining the stuff. Check back through this thread, YT gives some good numbers on what this might be worth. If approval to mine this comes through next year, then yes, I agree, this is cheap! However, if they can't mine it, well, bummer.

[Realist]

At 93c there is no question this has broken out now! :D

[Fab]

kennas,

Thanks for your feedback. I am just trying to re-invest the money I just got by selling my SMM. Sounds like MTN and SMM are very similar. I mean they will both benefit from a change in policy. Which one is the best potential uranium producer? MTN current price is the same as SMM 1 year ago :)
I am wondering if I should to try to re-enter SMM or buy into MTN :eek7:

[dj_420]

im holding both SMM and MTN, pending a policy turnaround these two will be major players in aust.

just a question if and when policy does turnaround does that mean ERA are allowed to mine jabiluka or is that off limits because it is sensitive area.

[Broadside]

im holding both SMM and MTN, pending a policy turnaround these two will be major players in aust.

just a question if and when policy does turnaround does that mean ERA are allowed to mine jabiluka or is that off limits because it is sensitive area.

I don't think Jabiluka is so much about 3 mines policy, more about environmental concerns being in Kakadu

[3 veiws of a secret]

I don't think Jabiluka is so much about 3 mines policy, more about environmental concerns being in Kakadu

Heritage listed park ? that is Kakadu not Jabiluka..........

[kennas]

kennas,

Thanks for your feedback. I am just trying to re-invest the money I just got by selling my SMM. Sounds like MTN and SMM are very similar. I mean they will both benefit from a change in policy. Which one is the best potential uranium producer? MTN current price is the same as SMM 1 year ago
I am wondering if I should to try to re-enter SMM or buy into MTN :eek7:

Hold both Fab. Along with AGS, possibly the 3 best non producers in the country.

[radio-active man]

Not far from the $1 party again. Looking forward to $1.50, $2 ......$100 parties.

One of the most undervalued stocks on the ASX.

:rolleyes:

[Broadside]

Heritage listed park ? that is Kakadu not Jabiluka..........

but Jabiluka is within Kakadu which is why there is an environmental problem??

[radio-active man]

Please start a new thread to talk about dumb a*se green issues.

We are trying to do our bit for the environment by extracting the green fuel from Mt Gee. :D

[sleeper88]

please start a new thread to talk about dumb a*se green issues.

We are trying to our bit for the environment by extracting the green fuel from Mt Gee. :D

well guys..i hope ERA's Jabiluka deposit never gets mined, which means..all the way with Mt Gee :D :D ..
but i must say it's highly unlikely since...for example Xstrata's mcarthur zinc operation got the nod recently.. even after environmental concerns

[mmmmining]

kennas,

Thanks for your feedback. I am just trying to re-invest the money I just got by selling my SMM. Sounds like MTN and SMM are very similar. I mean they will both benefit from a change in policy. Which one is the best potential uranium producer? MTN current price is the same as SMM 1 year ago :)
I am wondering if I should to try to re-enter SMM or buy into MTN :eek7:

I think it is very dangerous to bet on one or two horses. The orginal uranium bug James Dines recommend to bet on a basket of uranium stocks. (unfortunately most of the uranium stocks he recommended is in TSX, Some of them are really good one. I have made some moeny indirectly through the takeover target in HMR, RPT). I try to convince him to cover more Aussie stock, so far no results.

Anyway, we can apply his principle, I would mind to hold some SMM, MTN, PNN, ERA, PDN, DYL, UNX, OMC, SRZ, SAU, UKL, ARU, CMR, AGC, NEL, EQN, BHP, UEQ, MRO..... It is too long to list, but the key is disversification by development stage (producer, resource, explorer), and geography (Australia, Africa, Central Asia..). I know some of them will be super stars (or already are), some of them may be ugly ducks. But as long as the uranium trend is right, you will make a lot of money!

Afterall, MTN is the horse I am betting on seriously. I will hold it for a very long-time. My average entry prices is very close to the today's closing price. I wish I have discover this good Aussie stock a year ago. I firmly believe it worths more than $4 a share compare with other U stocks even with share base doubled.

[YOUNG_TRADER]

Did I read right?

Have that arbitrage group of UBS MM&E sold out their entire position on what I calculated to be an avg price of 0.885c? ? ? ?

Thats a big overhang gone :D

[kennas]

Did I read right?

Have that arbitrage group of UBS MM&E sold out their entire position on what I calculated to be an avg price of 0.885c? ? ? ?

Thats a big overhang gone :D

Is that a good thing mate? Selling $1.7 m probably not that big and issue is it? They were substatial I suppose.. :confused:

Well, stock up 5+%...... :)

How's study going? LOL

[YOUNG_TRADER]

Is that a good thing mate? Selling $1.7 m probably not that big and issue is it? They were substatial I suppose.. :confused:

Well, stock up 5+%...... :)

How's study going? LOL


Its a good thing if you look at it like this, if Crosby don't raise the bid and offer falls through as UBS was TakeOver arbitrage they would have sold off their position = drive the price way low to dump 2m+ shares

However now if takeover falls through there won't be as much selling (there will still be those few who were happy with downside risk limited by takeover offer and when that this appears so will they)

p.s. Study? ? Huh forgot all about it ;)

[mmmmining]

Its a good thing if you look at it like this, if Crosby don't raise the bid and offer falls through as UBS was TakeOver arbitrage they would have sold off their position = drive the price way low to dump 2m+ shares

However now if takeover falls through there won't be as much selling (there will still be those few who were happy with downside risk limited by takeover offer and when that this appears so will they)

p.s. Study? ? Huh forgot all about it ;)

I agree with YT. The Crosby's takeover offer is becoming less and less relevant. I believe the market is speculating the massive Uranium resources the Mt Gee hold. When UBS has unloaded its stocks (I guess it was triggered by their investment guideline for takeover arbitrage, not by their head, if they do have one), the upside lid is removed. I added some position

[3 veiws of a secret]

I've got radioactive feeling today about MTN .....have'nt you? ONE DOLLAR! BONG goes de dong

[dj_420]

Volume has picked up for MTN lately. This chart shows previous false breakout then followed by a slight pull back. Hammer candlestick is bullish and indicates uptrend is resuming and the next day it has opened on a runaway gap. Todays trading shows a clear breakout from old trading channel.

IMO this move has occured for several reasons:

- MTN is clearly undervalued and market interest is picking up
- USA has shown large increase in SP in last two days
- Overhang of shares has been removed (UBS and MME)
- Drilling resume at Mt Gee
- Increase in uranium sector has picked up of late

[kennas]

Volume has picked up for MTN lately. This chart shows previous false breakout then followed by a slight pull back. Hammer candlestick is bullish and indicates uptrend is resuming and the next day it has opened on a runaway gap. Todays trading shows a clear breakout from old trading channel.

IMO this move has occured for several reasons:

- MTN is clearly undervalued and market interest is picking up
- USA has shown large increase in SP in last two days
- Overhang of shares has been removed (UBS and MME)
- Drilling resume at Mt Gee
- Increase in uranium sector has picked up of late

Yep, agree here DJ.

I'd also say that there is a lot of speculative money flowing into the market atm. Traders have come out of hybernation after the May correction and jumping on momentum everywhere. U players have been a favourite target.

[3 veiws of a secret]

Yep, agree here DJ.

I'd also say that there is a lot of speculative money flowing into the market atm. Traders have come out of hybernation after the May correction and jumping on momentum everywhere. U players have been a favourite target.

Kennas! perfectly correctI'm with you .Also the media plugs along the political features of global warming etc etc .....and U just tags along in the background.
Funny how times have changed,and how U is percieved to be clean,and if you saw ABC with Kerry O'Ryan( schpelling) on the 7.30 report last nite,I think CEY and Anvil mine (?) was been given the thumbs down treatment....ie very dirty stuff........enough waffle back to the project of shares.............

[insider]

OK boys... Need a quick opinion on this babe... Should I buy? Why? What are the chances of them issuing more shares? My window opprtunity is closing on another stick and I can only buy one... The problem of choice

[kennas]

OK boys... Need a quick opinion on this babe... Should I buy? Why? What are the chances of them issuing more shares? My window opprtunity is closing on another stick and I can only buy one... The problem of choice

Yes, the problem is choice....

Throw a dart at MTN, SMM, AGS, EVE.

Any of these could do anything.

Potential for some consolidation soon. I think the big gains have been made.

(I hold each of above)

Sorry not to be indecisive. You really must DYOR on each of these to make a decision.

[insider]

It's more the fact they've gone up so much without any drilling announcement... they seem to be good... Appreciate it Kennas

[insider]

Well I like the fact they're based in SA... No recent drilling results, Few sellers, steady climb and an all time high of 1.45... I got out of DYL at 27.5 cents and am happy with that... A few weeks ago I was choosing Between DYL and MTN and went DYL... that paid off but MTN would have been a great choice too... I'll see how the day will go and make a decision after lunch... Feel like a gourmet sandwich :)

[Rafa]

I agree, the choices are unlimited...
its hard to pick one definitely...

but i think EVE and MTN are near certain...

will they outperform other U stocks tho???
well, in the short term, i see the sentiment dragging all Uranium stock up.

In the SHORT TERM... This could be a BIGGER story than ZINC!
(given Zinc has had a great run in Oct)


Insider, i got out of DYL too recently
looking at either USA or URA now to compensate.

[insider]

Just waiting patiently for some news! :)

[djones]

Just waiting patiently for some news! :)

You only bought in on 3rd-November!! So hope you are patient!

[YOUNG_TRADER]

Was just about to say MTN joing the U band wagon, but then remembered drilling was meant to start early Nov, well its early Nov!

[Rafa]

MTN certainly hasn't got on the U bandwagon,
most other U stocks have doubled in the last week...

MTN is barely up 30%...
what a dog!!!

:D :D :D

Can't wait for the market to remember MTN again...

If they do release a few annoncements, in the current climate, $2 is not out of the question.

I am thinking of buying some more.

[kennas]

I was just a matter of time before they had their turn. :D

[YOUNG_TRADER]

I'm out, had a good run from 70c to $1.20

Seems to be hitting resistance,

Good luck to holders

[kennas]

Seems like follow the leader YT. I'm on the sidelines for the moment too.

Have held on to some SMM and AGS expecting the imminent JORC anns to keep them solid.

[Rafa]

fair point about resistance, lot of buyers from 6 months ago, when MTN was last at these levels may be looking to sell soon...

besides that, was there any other reasons for getting out?

[insider]

A rise of interest rates is always a good reason... but i still hold

[kennas]

fair point about resistance, lot of buyers from 6 months ago, when MTN was last at these levels may be looking to sell soon...

besides that, was there any other reasons for getting out?

Rafa, check what happened to MTN from May to July. That run up in April was not sustainable, and neither can this be. Might go up another 20% or maybe 50%, but nothing goes verticle for ever. Just when do you take profits? What is the trading plan? I originally bought this as a long term play thinking it would be an operator in a few years with there possibly being a takeover on the horizon. Now, I'm just been cautious. I'll wait for a decent dip to be back in.

[radio-active man]

sorry to see you guys leaving.

When evryone is buying it's probably the right time to be selling and vice versa.

US election, global crash ahhh regardless we still need energy to keep us cool in summer and warm in winter. Just ask the japanese.... :confused:

[dj_420]

im still holding. i believe sp still has a way to go yet. stock has received some coverage as of late and interest is picking up on internet sites. some guy called crazy john smith has been plugging it on his website. not to sure about quality of posts could be another hc promoting speccies.

i think its great that MTN has finally picked up in volume and interest. typically has traded very low on volume in the past which has meant less volatility for the sp.

i think we will see a continued general uptrend, with uranium sector right in the spotlight at the moment. may see some short term retracement but has trended a bit slower in comparison to other uranium stocks.

[Morgan]

Sold out of EVE this afternoon before the close as looking to finish down on previous day's close for the second day in a row.
Keeping a close watch on MTN (is starting to look overbought) but still holding while it continues to close higher than previous day's close.

[Morgan]

Sold out of EVE this afternoon as looking to close lower than the previous day's close for second day in a row. Still holding MTN while it continues to close higher each day (but keeping a very close eye on them!!).

[kennas]

sorry to see you guys leaving.

When evryone is buying it's probably the right time to be selling and vice versa.

US election, global crash ahhh regardless we still need energy to keep us cool in summer and warm in winter. Just ask the japanese.... :confused:
U Man,

Haven't 'left' this yet. Still very much with it, my money just isn't where my mouth is atm. But, I'm sure it will be again.

I was just reading back through their past few anns and the advancements they have made at Mt Gee are quite impressive. They are due to ann drilling to take the current inferred resource to indicated and measured. This ann should keep MTN on the radar for most punters. Perhaps they will even increase the current resource as they are focussing on drilling to extentions to the east and south.

They currently have inferred 68 m lb at a 300ppm cut off, and 45 m lb at 500 ppm. These are great numbers. If they increase this resource in size or quality, it would be fantastic for the company.

[kennas]

Just ann placement of $6m ish shares at $1.10, not far off current price. Board restructure and a ramp of the FS being done by Coffey. Not too much to get excited about.

[deftfear]

I think it looks pretty good, having the chinese goverment as a significant shareholder can't be a bad thing and issuing the shares at that price is pretty good considering the sp over the last 4-6 months has much less than that. It gives me good confidence in the management of the company at least.

[kennas]

I think it looks pretty good, having the chinese goverment as a significant shareholder can't be a bad thing and issuing the shares at that price is pretty good considering the sp over the last 4-6 months has much less than that. It gives me good confidence in the management of the company at least.
Yes, CITIC on board could be a good thing. Interesting. And Mr Zeng looks like he might know a thing or two about start up operations.

[djones]

Up 41.84% after brokerage, not sure what to do now.... getting edgy and thinking of selling. I should at least put a stop loss in!

EDIT: 48.64% now in 14 days.

[sleeper88]

Up 41.84% after brokerage, not sure what to do now.... getting edgy and thinking of selling. I should at least put a stop loss in!

hmm same situation here, 65.6% on paper after brokerage, but it just gets higher, but im keeping faith it'll go higher ( or am i just greedy :confused: )

[insider]

I say hold... Look at the sellers list... it's so small!
It is important to know at what price you'd be hapy to sell at... so are you happy?

[Rafa]

hmm, i'm up 60 odd % too on initial entry, and loaded up even more two days ago in the 1.10ish range...

with the placement being at 1.10, which is rather amazing, given it barely traded at that price, ever, i think this would have to be a floor for the price from now on...

a BIG CONGRATULATIONS to the management team...

kennas's point from a few posts ago is still valid, there were lot of buyers in this range in May, so they may be looking to get out here... it needs to break the MAY high before real blue sky... but I am hold on for the ride.

Plus, with chinese on board, the sky is finally the limit with this company.

:jump: :jump: :jump:

[radio-active man]

Grab the bull by the horns and hold on for the ride.... As Rafa rightly pointed out. $1.10 is our new support....

Buttermores baaaaahahahahaha

Sweeeeet..... Duuude.....

[3 veiws of a secret]

Well what can I say sold out today 25% profit takings,might be a bit premature,but I will be keen to re-enter this share if it takes a small slide. G'luck to holders .........just keep surfing the Uranium wave . :bowser:

[YOUNG_TRADER]

Chinese major and Aussie coal player in Marathon investment
(Thursday, 9 November 2006)

THE Australian subsidiary of major Chinese company CITIC Group, which controls more than $US100 billion in assets, and the private investment arm of Macarthur Coal boss Ken Talbot have jumped into bed with a second South Australian-based uranium explorer in less than two weeks.

[Rafa]

hmmm, did i miss something, who was the first???

[Plan B]

Chinese major and Aussie coal player in Marathon investment
Jesse Riseborough
Thursday, 9 November 2006

THE Australian subsidiary of major Chinese company CITIC Group, which controls more than $US100 billion in assets, and the private investment arm of Macarthur Coal boss Ken Talbot have jumped into bed with a second South Australian-based uranium explorer in less than two weeks.

Macarthur Coal managing director Ken Talbot

This time the coffers of takeover target Marathon Resources are set to be bolstered by a $A7.15 million placement to the pair with the funds earmarked for completion of a scoping study at the company's flagship Mt Gee project in South Australia.

Interestingly, the two players involved in the placement, Talbot Group Holdings and CITIC Group, were involved in a smaller placement late last month with fellow South Australian-based uranium explorer Southern Gold.

The Southern Gold placement to the pair raised $2.25 million at an issue price of 25c per share while the Marathon placement will be undertaken at $1.10 per share and will give them an 11.7% stake in Marathon.

Marathon was also quick to point to the placement price representing a 61.7% premium to the offer price of 68c per share made by Hong Kong-based raider Crosby Capital Partners in July.

The relationship between the three companies will also be expanded to the boardroom with the managing director of CITIC's Australian operations Chen Zeng and Macarthur Coal "associate" Denis Wood both being added to the Marathon board at the expense of Sam Appleyard and William Latimer.

Marathon said the restructure would provide the additional skills required to enhance the development potential of its Mt Gee deposit which hosts an inferred resource of 57 million tonnes at 0.06% uranium oxide for 33,000t of contained uranium oxide.

The relationship between CITIC Group and Macarthur Coal also extends to the share register with CITIC holding an 11.6% stake in the Talbot-led Macarthur.

The Chinese have shown a penchant for South Australian uranium investment of late with the southern state home to one of the more friendly uranium exploration and mining regimes in Australia.

In September, PepinNini Minerals formed a strategic alliance with major Chinese steel manufacturer Sinosteel to develop the company's Crocker Well and Mt Victoria deposits in the Curnamona province.

Shares in Marathon were unchanged in early afternoon trade at $1.19.

[mmmmining]

Move from Las Vegas to Macau, not much change, right? The only thing I can see Macau, the mini-Las Vegas will become a giant soon. A math problems here:

1. The good old Chinese touch is still working in Uranium stocks.
$.50 placement in PNN up over 60%
$2.50 placement in CMR up over 60%
$.25 placement in SAU up over 30%

So giving some time for MTN, what doe it worth for $1.1 placement?, $1.4 or $1.8?

Besides, the MTN is still at less $1 EV per lb resources. Still much cheaper than SMM, EME, NEL, DYL, RPT.... you name it.

[radio-active man]

kennas,

If you have a few spare moments can you comment on the technicals for MTN.

Lookly at the weekly candle chart I see a cup and handle formation.

I here some more Chinese whispers on this one. But my chinese is non existant and it may not be chinese but some other asian language. :cool:

Thanks in advance.

[mmmmining]

kennas,

If you have a few spare moments can you comment on the technicals for MTN.

Lookly at the weekly candle chart I see a cup and handle formation.

I here some more Chinese whispers on this one. But my chinese is non existant and it may not be chinese but some other asian language. :cool:

Thanks in advance.
Might be Japanese utilities. I would like to see the fight between Chinese and Japanese. They may well like each very much.

[kennas]

kennas,

If you have a few spare moments can you comment on the technicals for MTN.

Lookly at the weekly candle chart I see a cup and handle formation.

I here some more Chinese whispers on this one. But my chinese is non existant and it may not be chinese but some other asian language. :cool:

Thanks in advance.
Will catch up on this one tomorrow. I'm thinking about getting back in myself.

[kennas]

Will catch up on this one tomorrow. I'm thinking about getting back in myself.

RAM,

I don't see a cup and handle on the weekly, but on the daily there's a descending triangle with both MACD and Stochastics looking negative. Lagging indicators so not the whole story. Looks to be trending down for the minute with highs getting lower. The doji on Friday is also slightly negative indicting sellers just won the day. However, found a bit of a support line around $1.12/13 for the moment. If it starts to get a bit more support and had a couple of positive closes heading back towards resistance at $1.21/22, then keep a close eye on it.

A break below $1.10 is a sell IMO.
Break above $1.21 on vol a buy IMO.I will be.

[radio-active man]

Kennas,

Thanks for the analysis.

Take note of the no. of shares on issue... Extremely easy to manipulate imo. It was nice to c the 500,000 xtrade on friday.

Relatively big players taking positions and looking to shake out weak hands.

[dj_420]

i would like to see the current sp hold today on its increase and break the descending triangle pattern. nice support is building around the 1.10 upward levels.

IMO this stock is still grossly undervalued, market cap of $44 million for a insitu resource value of $4.3 billion US dollars. seems a little off the mark to me. based on market cap this stock is still way undervalued and has got a long way to go.

large off market trade on fri 500 000 seems to point that larger people taking position.

[kennas]

This definately has potential to break up. Will be looking for an entry on break up to $1.21/2 ish.

[kennas]

This definately has potential to break up. Will be looking for an entry on break up to $1.21/2 ish.

Looks like it could be happening. Not back in yet, but probably will be tomorrow if the support is still there. Looks like a break from a pennant (love thse things) and potential price target, if confirmed, would be about $1.60. ish.

[YOUNG_TRADER]

Someones playing with the price today,

I've seen big buy orders go up at least 5-6 times now, its either 1 300k buy orderor 2 150k buy orders at the same time,

They keep going up at $1.18-$1.21 and as soon as it looks like they'll get filled they get pulled,

Very sus indeed, anyone else notice that?

[djones]

Someones playing with the price today,

I've seen big buy orders go up at least 5-6 times now, its either 1 300k buy orderor 2 150k buy orders at the same time,

They keep going up at $1.18-$1.21 and as soon as it looks like they'll get filled they get pulled,

Very sus indeed, anyone else notice that?

Noticed a 300k buy at .20 almost as soon as trading opened today. In the long term though these manipulators are unimportant.

[dj_420]

from charts MTN sp showed a pennant formation with last two days of trading breaking out of that pattern.

market has been down today but MTN sp showed a sig increase in interest on when it was sold down. would like to see a sustained rise now, from market depth there is some resistance around 1.30, would be good to see a break above these levels.

[kennas]

from charts MTN sp showed a pennant formation with last two days of trading breaking out of that pattern.

market has been down today but MTN sp showed a sig increase in interest on when it was sold down. would like to see a sustained rise now, from market depth there is some resistance around 1.30, would be good to see a break above these levels.

I agree. This looks like it's heading up now.

[kennas]

If it holds above $1.22 then I think I'll be back into this.

[kennas]

Looks to be breaking up. I'm back in.

[Rafa]

welcome back...

[kennas]

Looks to be breaking up. I'm back in.

:D :D

Break up confirmed!!!!!!

[insider]

good stuff kennas! :cool: You did the right thing... I'm holding onto MTN at least until the federal election... MTN have, in my opinion, Huge potential! I see MTN as a stock that is a great alternative to companies like AGS and DYL that have huge market capital already

[kennas]

Hit $1.44 but quickly retreated. Traders taking profits.

Good news for MTN though as this is an alltime high I believe. Would be nice for a positive finish, but doesn't look like it now. Spike is interesting though. People are watching this and jumping in on breakouts. Good darts.

[kennas]

Are there any uranium companies not going to all time highs? Might as well have just thrown a dart at the stock list and you'd hit a winner. Shooting fish in a barrell really. What a joke.

I do like buying into these things when they break though. MTN was a classic. :)

[Ken]

anything copper, uranium, nickel, just pumps the price up big time.

ERA $12 to $19 is a joke....

happy days if your on...

[djones]

anything copper, uranium, nickel, just pumps the price up big time.

ERA $12 to $19 is a joke....

happy days if your on...

Happier days if you know when to get off!

[insider]

MTN is such a great stock because it is the only few stocks that haven't hit a ridiculous market capital like AGS, DYL and PDN... yet... It'll probably follow suit... I reckon hold on to em for a long while... Sorry if it sounds like ramping

[radio-active man]

When the sp hits $10 or mtn has a mc of $500 million and you are banging the MTN drums then it might be considered ramping. At present this sooooooooooooooo undervalued...

JORC ~30,000 tonnes...
mc ~ 50 million

:xyxthumbs

[kennas]

MTN consolidating between $1.40 and $1.50 around previous all time high.

Interesting that the Talbot Group have taken 10% of the company. Anyone know anything about this mob?

I only know it's also taken a stake in Southern Gold and has a close association with CITIC, who now have a few % of Marathon as well. Perhaps they will join forces to take MTN soon?

The results from the current drill program at Mt Gee which are being fed into the resource model to upgrade the resource won't be available until 'well after the Christmas period' so we've got a bit of a wait for further anns, unless perhaps if they hit something very significant which will probably require them to come clean with the market. They did say that the initial drill results seemed to be in line with previous drilling so expect a wait I think.

[insider]

Hmmm... I thought about and now I guess I was right... This week will be all about retracing... I hope that it doesn't close below 1.40 tomorrow... I like to see healthy figures :D and I have a 1000 percent return in a year to make

[kennas]

Going for an all time high again...

Almost off the page.

[Rafa]

103882 sellers at 1.50.....
most of the buyers at 1.45...

with todays volume sitting at 326622, its going to take something big to move this outside each of the above price points...


BTW Kennas, I sold AVO...

[kennas]

MTN hitting a brick wall at $1.50. Come on!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If it doesn't get through this quick, may drop back to recoup for another run. Or fall over. :(

Rafa, still holding AVO. It's back up a little with ann of go ahead of Trident. :) Still, maybe it's hit it's terminal peak?

[insider]

MTN hitting a brick wall at $1.50. Come on!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If it doesn't get through this quick, may drop back to recoup for another run. Or fall over. :(

Rafa, still holding AVO. It's back up a little with ann of go ahead of Trident. :) Still, maybe it's hit it's terminal peak?

We're gonna need some dynamite... There's still a long way for an announcement... It's good to see the stock go up on low volumes... Can't complain there... an interesting week... I'm still holding from 1.005 a share ;)

[Rafa]

nothing wrong with consolodation,
but i think holding above 1.40 is the key here,
that is the all time high, stretching back from May 06.

I am happy to risk 10 cents for a potential rocket ride thru the brick wall... :D :D


As for AVO, the long awaited announcement has proved to be an anti climax... :banghead:

It has to be, so far, the most disasspointing stock i've held this year...
the present gold malaise is not helping either tho...

[kennas]

nothing wrong with consolodation,
but i think holding above 1.40 is the key here,
that is the all time high, stretching back from May 06.

I am happy to risk 10 cents for a potential rocket ride thru the brick wall... :D :D

As for AVO, the long awaited announcement has proved to be an anti climax... :banghead:

It has to be, so far, the most disasspointing stock i've held this year...
the present gold malaise is not helping either tho...
Some good support for MTN today. Went down just a bit and the buyers came in.

I'm out of AVO too. Poor effort that.

[insider]

nothing wrong with consolodation,
but i think holding above 1.40 is the key here,
that is the all time high, stretching back from May 06.

I am happy to risk 10 cents for a potential rocket ride thru the brick wall... :D :D


As for AVO, the long awaited announcement has proved to be an anti climax... :banghead:

It has to be, so far, the most disasspointing stock i've held this year...
the present gold malaise is not helping either tho...


EXT has been the most disapointing stock for me... Hey If Warren buffet had to pick from all the growing U stocks he'd choose this one because it has gone up the least for what it's worth... I'm almost certain that in a month time this baby will hit 2 bucks... RAMP RAMP RAMP

[mmmmining]

EXT has been the most disapointing stock for me... Hey If Warren buffet had to pick from all the growing U stocks he'd choose this one because it has gone up the least for what it's worth... I'm almost certain that in a month time this baby will hit 2 bucks... RAMP RAMP RAMP

Only if there is not so many hitch-hikes. I wish The Corporate Law should be revised since so many companies have abused it in the area of share placement. I would suggest that:

1. Existing shareholder should have the priority to participating share placement of any kind. I believe the internet auction can be a good vehicle to raise money cheaply;

2. No more than one share placement for every two years.

[kennas]

MTN consolidated nicely and ready to go up. Wouldn't be surprised if it goes at around the blue circle - about Thursday. :)

Surprised it hasn't taken off with the rest of the U pack today. That $1.50 resistance proving hard yakka.

[Rafa]

its a marathon kennas... :D :D
gotta love all things U at the moment tho...

[mmmmining]

MTN consolidated nicely and ready to go up. Wouldn't be surprised if it goes at around the blue circle - about Thursday. :)

Surprised it hasn't taken off with the rest of the U pack today. That $1.50 resistance proving hard yakka.
Tomorrow might be the day when UxC confirms the $72/lb uranium if not higher.

[kennas]

I was wrong. Sorry.

Broken through today. Trading $1.54 atm :D

Breakout!!!!!!!!!!!!!!!!!!!

Relax kennas, day's not over.

[insider]

1.58... Very Nice... Still MTN is soooooo undervalued... :cool:

[mmmmining]

Newly appointed Director Dennis Wood has bought 136,364 MTN shares at average price of $1.44. I like it, the director is aligning his own money with the company, not just collecting directorship fee. Excellent. Should he want interest free loan, I would vote for it.

[Plan B]

Come on $1.70........ Toot .....Toot..

sellers are very thin ATM..... I think they are all hiding....:hide: lol

[kennas]

LOL, someone bought 2 shares at $1.70. Ha!

That takeover offer at, what $0.68?, must be looking like a good offer!

Would like some further consolidation soon. This blue sky stuff worries me. The harder the run, blah blah........

[Plan B]

LOL, someone bought 2 shares at $1.70. Ha!

It wasn't me......lol......I think whoever it was had a chuckle to themselves.....lol

[YOUNG_TRADER]

A bit of nostalgia from way back in March, it was like the 4th post on MTN

Some times good things take a bit of time,

Not holding though got off @ $1.20ish level, no regrets as money has been put to good use since


All Aboard and quick,

If you have a look at the following Uranium Explorers you will notice some sharp price appreciations lately, EME NEL BKY MOX UXA UNX GBE

Now take a look at MTN, I think it hasn't been properly sighted by the market,
Its mkt cap is less than half of NEL it it boasts a deposit in S.A which is better than W.A. its deposit (using a higher cut off grade of 500ppm) is 4x the size.


Look at this EV per lb UR08 of Companies, the avg is $2.65 MTN's is $0.26 per lb

http://www.allianceresources.com.au...0Feb%202006.pdf


What does it all mean?
HMR was bought by Mega Uranium for $20m and its a pure exploration play, at current prices MTN can be T/O where the bidder is paying 26c per lb of U308, they could even pay up to $1 per lb and it would still be cheap, IMO once MTN releases its fully JORC Compliant Resource its mkt cap has to be around 2-3x more than what it is currently or it is a very very attractive take over target

Its deposit (using 500ppm cutoff) of 30Mt @ 0.07% = 21,000 t U3O8 which would make it the 12-15th Largest Uranium Deposit in the World, I bet that would make companies take notice

[mmmmining]

$1.5 EV/lb JORC resources, can anyone find another close one? Looks like stone-age valuation.

[kennas]

A bit of nostalgia from way back in March, it was like the 4th post on MTN

Some times good things take a bit of time,

Not holding though got off @ $1.20ish level, no regrets as money has been put to good use since
When will you reconsider it YT? Hard to get back in at this stage isn't it. Seems to have run too hard. I'm even thinking of taking some off the table soon. I suppose it depends on relative price movements etc, but the resource they have here looks pretty impressive.

I see from one of their past anns in regard to the Paralana Mineral System at Mt Gee that they were using a 500ppm cut off in a resource estimate of 45m lbs! I wonder what it would be if they dropped that back to a 250ppm cut off? :eek:

It's got to have another period of consolidation soon. Surely.

[mmmmining]

Anyone listened the audio on boardroom.com? My sixth-sense tell me that Cosby might "vary the term of offer".

Just my pure speculation, no fact.

If can heard it too, let me know.

[Plan B]

Please stop...... my sides are hurting from laughing so hard.... :D

[deftfear]

My thoughts exactly, they can't honestly expect that anyone is going to take up their offer. It doesnt look like they are going to increase their price either as previously suggested, their offer price is about 60% lower than the current market price, and it only seems to keep going up.

[JimBob]

Why would they even bother extending their offer when the share price is trading at more than $1 over their offer price?

[insider]

Maybe it's a kind of dummy bidding... like at an auction... your guess is as good as mine :cool:

[insider]

Maybe it's a kind of dummy bidding... like at an auction... your guess is as good as mine :cool:

Yeah now that I think of it... It really could be dummy bidding... every time the stock jumps up alot Buttermere comes out with a ridiculous bid... Why? Probably to shake the day traders and short termers out of the tree... It's just a theory but it certainly seems to work... :confused: It also alows the company to reinvest in itself to make extra dough maybe... That's the only reason I can come up with...

What I just wrote is purely fictional and only for entertainment purposes

[mmmmining]

Even David Tweed is more generous.

[kennas]

That takeover offer from Butterbrains at $0.86 ish is looking tempting for MTN holders I reckon. LOL.

Hardly any volume today, no one wants to sell - or is that, no one wants to buy??

What an awesome chart. Surely this has to consolidate at some point.

Market cap still only $97m ish is pretty undemanding for the resource wouldn't you think? Say, compared to SMMs $540m ish. They don't have 5 x the potential resource??? Is that right?

[mmmmining]

On EV/LB Resources basis, MTN is still the cheapest. Compare with the peers, it maybe worth north of $8 if there is no more placement. I think the expectation is building for the assay results. The company hinted it is in line with the estimation already. Let's see.

I still like the factor that the newly appointed director spend $200,000 own money buying MTN when the share price is rising. Pretty rare for a junior mining company's director. Usually they just wait to get freebies, but not Mr Wood.

[Halba]

what about the discount for the fact it is heritage listed? So many barriers to mining, chances are it will miss the u boom. have people forgotten this? see earlier posts?

You need production to make money. in the ground is useless

[blobbob]

what about the discount for the fact it is heritage listed? So many barriers to mining, chances are it will miss the u boom. have people forgotten this? see earlier posts?

You need production to make money. in the ground is useless

If it was herritage listed they would''nt be able to drill there!!
has a better chance of mining than Summit IMO.

[mmmmining]

If it was herritage listed they would''nt be able to drill there!!
has a better chance of mining than Summit IMO.

The market has factored in this false impression that Mt GEE cannot be mined because of heritage. At the same time, it create the biggest unique opportunity to jump on this uranium train with dirty cheap price.

MTN has four times of resources than NEL, but NEL's EV is more than twice of MTN. you figure it out. By apply NEL's valuation, MTN should worth north of $16.

[britishcarfreak]

Do you guys think there'll be much resistance at the $2 mark?

Would any of you risk buying in now or do you think there are other better U stocks? I've been playing bannerman but sadly sold out a few days before the push past $2 and am too cautious to get back in.

Looking at the chart I have here the support figure seems to be back at $1.50. Does anyone else agree that that is a reasonable risk assumption? Still 25% would suck. Hence my reluctance to enter this at the moment. Comments appreciated. Thanks guys.

[kennas]

Do you guys think there'll be much resistance at the $2 mark?

Would any of you risk buying in now or do you think there are other better U stocks? I've been playing bannerman but sadly sold out a few days before the push past $2 and am too cautious to get back in.

Looking at the chart I have here the support figure seems to be back at $1.50. Does anyone else agree that that is a reasonable risk assumption? Still 25% would suck. Hence my reluctance to enter this at the moment. Comments appreciated. Thanks guys.
I agree BCF, must be very hard to enter this with confidence right now. Looks like resistance at $1.95ish yes, and next support probably at $1.50. There must be some punters taking profits at the moment. Market cap still isn't that really demanding at under $100m I think (need to check), with the potential resource they have at Mt Gee. A possible option might be to buy in incrementally instead of all your cash in at once. If it keeps going up buy a little more, if it fails you haven't lost the house. Perhaps. I've owned this for a little while, but personally I would be concerned about buying at these levels. I'm even thinking of taking some profits. I have this in my top 3 potential U plays at the moment with SMM and AGS. (holding all) My :2twocents , others might be more bullish on the whole uranium thing at the moment and just slap a buy on anything they own. Good luck.

[dj_420]

agreed. do some research and sort the potential stocks from the explorers.

IMO there are a very small number of uranium plays in australia that will make it to production. SMM, MTN and AGS been them.

still very low market cap when compared to other uranium stocks however. divide market cap by pounds of u to get a valuation on a per pound basis.

there may be some anticipation in regards to a resource update. i think there are a few who are expecting some bumper results.

[dj_420]

i would see this IMO as a buy when it breaks above 2.00 on confirmed breakout. prob a psychological barrier around the 2.00 mark. beyond that i would like to see strong support form around 2.00.

downside is 1.50 however it took quite a few attempts to break that point so should see strong buying support at those levels.

[exgeo]

Marathon has 45.6 Mt @ 0.068% U308 (31,250 t U308 @ 0.68 kg/t) in South Australia. This is a respectable sized deposit and SA is a Uranium-mining friendly state. At the time of writing they are doing resource drilling to upgrade the JORC status from inferred to indicated or measured. They have had drill hits of around 1kg/t over 2-3m during drilling. They are the target of an off-market takeover from Crosby Capital, the same outfit who made the lowball attempt to takeover Tethyan Copper. Their offer is pitched at 68c compared to the current share price of 200c. On a market-cap per unit of uranium in the ground, they are an order of magnitude cheaper than Nova (NEL), Summit (SMM) and Energy Metals (EMM). Of course NEL and SMM have the added disadvantage of being in uranium-unfriendly states. If you want to verify this for yourself, here's the raw data which you can import into Excel as a CSV file (copy and paste the data into a text file using notepad first, then save the notepad file as "blah.csv"):

Company,U308 (t),Grade (Kg/t),Price ©,shares,Mkt Cap ($M),Cap/Lb ($/lb)
MTN,32250,0.6,200,"43,430,000",87,1.2
ARU,3954,0.21,50,"58,132,507",29,3.3
EME,3800,2.1,388,"12,020,750",47,5.6
VUL,20000,1.8,145,"120,000,000",174,4.0
OMC,4950,0.4,50,"101,605,000",51,4.7
GGY,1200,2,7.5,"247,727,528",19,7.0
RPT,7860,0.52,16,"565,689,000",91,5.2
NEL,9000,0.6,305,"57,050,001",174,8.8
SMM,20000,2,320,"197,440,020",632,14.4
PDN,40000,0.7,800,"497,000,000","3,976",99.4

[kennas]

Marathon has 45.6 Mt @ 0.068% U308 (31,250 t U308 @ 0.68 kg/t) in South Australia. This is a respectable sized deposit and SA is a Uranium-mining friendly state. At the time of writing they are doing resource drilling to upgrade the JORC status from inferred to indicated or measured. They have had drill hits of around 1kg/t over 2-3m during drilling. They are the target of an off-market takeover from Crosby Capital, the same outfit who made the lowball attempt to takeover Tethyan Copper. Their offer is pitched at 68c compared to the current share price of 200c. On a market-cap per unit of uranium in the ground, they are an order of magnitude cheaper than Nova (NEL), Summit (SMM) and Energy Metals (EMM). Of course NEL and SMM have the added disadvantage of being in uranium-unfriendly states. If you want to verify this for yourself, here's the raw data which you can import into Excel as a CSV file (copy and paste the data into a text file using notepad first, then save the notepad file as "blah.csv"):

Company,U308 (t),Grade (Kg/t),Price ©,shares,Mkt Cap ($M),Cap/Lb ($/lb)
MTN,32250,0.6,200,"43,430,000",87,1.2
ARU,3954,0.21,50,"58,132,507",29,3.3
EME,3800,2.1,388,"12,020,750",47,5.6
VUL,20000,1.8,145,"120,000,000",174,4.0
OMC,4950,0.4,50,"101,605,000",51,4.7
GGY,1200,2,7.5,"247,727,528",19,7.0
RPT,7860,0.52,16,"565,689,000",91,5.2
NEL,9000,0.6,305,"57,050,001",174,8.8
SMM,20000,2,320,"197,440,020",632,14.4
PDN,40000,0.7,800,"497,000,000","3,976",99.4

xgeo, The first figure I tried to corroborate here was the 20000 t U that you say SMM have which is about 44m lb U3O8.

SMM currrently have 57m lbs JORC in a 50/50 JV with PDN in the IUJV, which brings their component to 28.5m lbs. They have about 8 other projects to be JORCed shortly.

How can I trust any of the other figures?

[hector]

Marathon has 45.6 Mt @ 0.068% U308 (31,250 t U308 @ 0.68 kg/t) in South Australia. This is a respectable sized deposit and SA is a Uranium-mining friendly state. At the time of writing they are doing resource drilling to upgrade the JORC status from inferred to indicated or measured. They have had drill hits of around 1kg/t over 2-3m during drilling. They are the target of an off-market takeover from Crosby Capital, the same outfit who made the lowball attempt to takeover Tethyan Copper. Their offer is pitched at 68c compared to the current share price of 200c. On a market-cap per unit of uranium in the ground, they are an order of magnitude cheaper than Nova (NEL), Summit (SMM) and Energy Metals (EMM). Of course NEL and SMM have the added disadvantage of being in uranium-unfriendly states. If you want to verify this for yourself, here's the raw data which you can import into Excel as a CSV file (copy and paste the data into a text file using notepad first, then save the notepad file as "blah.csv"):



Thanks exgeo,

I'm new to fundamentals, but just looking at your data it seems:

MTN has 10% shares listed as PDN for a 75% size/grade resource
MTN sp is 25% of PDN

- this implies each share has 7.5x value of resource backing for 1/4 of the sp, ie a value advantage of 30x !!??

How's my maths?

[exgeo]

On page 6 of SMM's latest annual report it is stated that the company "controls over 70 Mlbs" of JORC resources. This is 31,800t U308. It is not made clear whether this means 100% control. Even assuming they have only 50% of that amount (ie/ 16,000t) there seems little doubt that the resource will be upgraded very substantially given the intersections they've been reporting thoughout the year. I would encourage anyone to verify for themselves any information they read on this site before making an investment.

If SMM win the court case that they are prosecuting against Resolute then they may end up with 100% of the IUJV, or at least an "option to purchase the other 50% interest on commercial terms".

It seems EME may also report a significant resource increase due to recent drilling having extended the Bigyrli deposit down dip. MTN's overall tonnage may not change that much as they drilling mainly to increase the level of confidence in the existing resource, not extend it. But they are a lot cheaper to start with, and don't have political problems. NEL may also increase the resource tonnage a bit, but not by more than 10-20% I would guess. They are also drilling to increase the level of confidence and fill in some gaps in the previous drilling which may of course lead to a tonnage increase. As a guide to the prices companies are putting on resources in the ground, you can look at the values of Redport and Valhalla when they were taken over (the SP and no. of shares listed in my data). Of course the U308 price has increased substantially since then partly due to Cigar Lake in Canada flooding and delaying the opening of this new mine which was supposed to open in 2008.

[kennas]

On page 6 of SMM's latest annual report it is stated that the company "controls over 70 Mlbs" of JORC resources. This is 31,800t U308. It is not made clear whether this means 100% control. Even assuming they have only 50% of that amount (ie/ 16,000t) there seems little doubt that the resource will be upgraded very substantially given the intersections they've been reporting thoughout the year. I would encourage anyone to verify for themselves any information they read on this site before making an investment.

If SMM win the court case that they are prosecuting against Resolute then they may end up with 100% of the IUJV, or at least an "option to purchase the other 50% interest on commercial terms".

It seems EME may also report a significant resource increase due to recent drilling having extended the Bigyrli deposit down dip. MTN's overall tonnage may not change that much as they drilling mainly to increase the level of confidence in the existing resource, not extend it. But they are a lot cheaper to start with, and don't have political problems. NEL may also increase the resource tonnage a bit, but not by more than 10-20% I would guess. They are also drilling to increase the level of confidence and fill in some gaps in the previous drilling which may of course lead to a tonnage increase. As a guide to the prices companies are putting on resources in the ground, you can look at the values of Redport and Valhalla when they were taken over (the SP and no. of shares listed in my data). Of course the U308 price has increased substantially since then partly due to Cigar Lake in Canada flooding and delaying the opening of this new mine which was supposed to open in 2008.
Thanks for the info exgeo (ex geologist?)

That's the problem with rating a lot of these explorers at the moment as many have results to be JORCed in the comming weeks/months and they contiue to drill to extend their projects. Perhaps the reason why someone like PDN has a higher ration of lbs to market cap is because they are actually about to produce. Also, perhaps SMMs is so high because they actually have a JORC and have another 6-8 on the way? There seems to be a lot of vaiables when trying to come up with the best value, or most undervalued stock in the U sector at the moment....I'd like to be able to see which has the most potential relative to market cap to make a decision on what to buy.

(U holdings: SMM, AGS, MTN, WME, BMN, EXT, BHP)

[exgeo]

Well as you can see from my (as pointed out, imperfect!) market cap/lb listed above, MTN is the cheapest out of the ones I researched. This research was done over Christmas 2005 and has been updated as new info came to my attention. A reader could use it as the basis for their own spreadsheet and add their own stocks- my reason for posting it was just to highlight a method of ascertaining relative value.

Comparing the explorers to PDN one can see what might happen if any of them ever get into production! NEL currently have GRD Minproc working on a feasibility study on their Lake Way deposits (GRD did the engineering for Langer Heinrich). By the way, I am a former geologist, and worked for Acclaim Uranium until 1999. Acclaim (subsequently renamed Aztec Resources) sold Langer Heinrich to PDN for "the price of a cut lunch" as I saw one other poster on this forum write! I also did limited work at Centipede (NEL) and various other calcrete uranium projects around WA. Since 2004 I've been mining the stocks market for profits instead of kicking rocks.

[kennas]

Well as you can see from my (as pointed out, imperfect!) market cap/lb listed above, MTN is the cheapest out of the ones I researched. This research was done over Christmas 2005 and has been updated as new info came to my attention. A reader could use it as the basis for their own spreadsheet and add their own stocks- my reason for posting it was just to highlight a method of ascertaining relative value.

Comparing the explorers to PDN one can see what might happen if any of them ever get into production! NEL currently have GRD Minproc working on a feasibility study on their Lake Way deposits (GRD did the engineering for Langer Heinrich). By the way, I am a former geologist, and worked for Acclaim Uranium until 1999. Acclaim (subsequently renamed Aztec Resources) sold Langer Heinrich to PDN for "the price of a cut lunch" as I saw one other poster on this forum write! I also did limited work at Centipede (NEL) and various other calcrete uranium projects around WA. Since 2004 I've been mining the stocks market for profits instead of kicking rocks.
You're input here is much appreciated exgeo. Cheers.

LOL about you working for Acclaim. I've held them on and off for 10 years. My first foray into them was when a 'friend' told me (not a cabbie) that a 'friend' of theirs was a geo for Acclaim and they had hit some gigantic gold deposit in WA that would send it's sp from $0.05 to $1.00!, and it was going to be ann shortly. I subsequently told all my friends, and even my dad bought some. It went up about 5% after the ann and then crashed down again. I'm now holding AEX again. :banghead: I forgot to include it my above list.

Getting back to MTN, I have done similar calcs to see which might be the most undervalued U play atm and I tend to agree that MTN might be one of the better ones considering resource to market cap. That's why I hold it.

I'll try and download your speadsheet there and maybe update the figures to take in any recent anns.

Thanks.

[exgeo]

yes, of course all these things are moving targets, as they announce resource increases and so on. The idea is not to say one company is 10% cheaper than another, merely to spot glaring "order-of-magnitude" anomalies such as how undervalued MTN is compared to other uranium companies.

[mmmmining]

yes, of course all these things are moving targets, as they announce resource increases and so on. The idea is not to say one company is 10% cheaper than another, merely to spot glaring "order-of-magnitude" anomalies such as how undervalued MTN is compared to other uranium companies.
Exgeo, I am glad you are in your name sake, May I ask you a couple of questions about MTN:
1. Since they have drilled a few holes, can they do the scintillometer log to measure radiation of each hole, and calculate the eq. ore grade? I guess by doing so, we can have a quick results

2. How accurate that their resources model is, and how good is their geology interpretation for Mt Gee Area is?

Thanks.

[kennas]

LOL. I took profits on MTN yesterday and what do you know - ann released with some outstanding new interesection which will probably significantly increase the resourse!! :banghead:

[Plan B]

LOL. I took profits on MTN yesterday and what do you know - ann released with some outstanding new interesection which will probably significantly increase the resourse!! :banghead:

Its always the way Kennas....lol

A big buy went through yesterday morning & also in the previous week......I thought something was up.... :)

[dj_420]

great results from MTN today. drill sections have identified larger extent of high grade and very thick mineralisation along north west end of resource.

IMO i think this one will be a lot larger than 69 million pounds once fully drilled. remember this is only the first results. a lot more drilling to go but resource remains open in all directions.

hasnt been a huge increase on sp as anticipated. market cap is still around 100 million which considering resource and uranium friendly state is still undervalued when compared to MTN peers.

[kennas]

great results from MTN today. drill sections have identified larger extent of high grade and very thick mineralisation along north west end of resource.

IMO i think this one will be a lot larger than 69 million pounds once fully drilled. remember this is only the first results. a lot more drilling to go but resource remains open in all directions.

hasnt been a huge increase on sp as anticipated. market cap is still around 100 million which considering resource and uranium friendly state is still undervalued when compared to MTN peers.
Would have to agree here dj. Some of those grades make it better quality than Beverley 4 Mile, but not sure how the depths make it, or the type of deposit make it....

(not holding MTN now :( )

[Rafa]

what to you make of the current market depth?
doesn't look like it will break $2 today, probably bad timing with the release of the result... on a normal Uphoric day, and this would have flown!

probably gives you time to get back in Kennas, if you haven't re-invested the cash elsewhere...

[kennas]

what to you make of the current market depth?
doesn't look like it will break $2 today, probably bad timing with the release of the result... on a normal Uphoric day, and this would have flown!

probably gives you time to get back in Kennas, if you haven't re-invested the cash elsewhere...
I'm using the money to buy bandaids for my BDG wounds.....

You're right, last week this ann would have sent it up 20%. Was up there for a little while but came off..... :confused:

[exgeo]

1/ Marathon's resource model up to date looks pretty conservative to me. It seems like they've excluded some large areas of former drilling from the resource calculation because the drilling density was not great enough to include this area, despite indications of mineralisation. This is one of the aims of the current drilling.

2/ As can be seen from Today's announcement, MTN are using gamma logging (the eU308 values- "equivalent U308") to determine in-situ grades and confirming the results with chemical assays. If disequilibrium has occurred (if the deposit is very young for example) then the gamma logging may not give the correct U308 values, hence the chemical assays as a confirmatory check. This will also serve to check the calibration of the logging tool as well.

The poster who mentioned that the grades are higher than 4-mile well is comparing apples and pears. 4 mile/Beverly will be an ISL (In-situ-leach) mine in all probability. This means they only have to drill some wells and inject an acid solution which dissolves out the uranium. A central collection well then extracts the uranium solution. MTN's deposit is hard-rock (haematite breccia) and needs to be physically dug up, necessitating an open pit or underground mine, depending on depth. Obviously this costs more.

[kennas]

The poster who mentioned that the grades are higher than 4-mile well is comparing apples and pears. 4 mile/Beverly will be an ISL (In-situ-leach) mine in all probability. This means they only have to drill some wells and inject an acid solution which dissolves out the uranium. A central collection well then extracts the uranium solution. MTN's deposit is hard-rock (haematite breccia) and needs to be physically dug up, necessitating an open pit or underground mine, depending on depth. Obviously this costs more.
Excellent, thanks for this info, I've always wondered the difference in the type of deposit, but too lazy to investigate it further. Some investor! :o

So that's why AGS's deposit has been rated so highly, even before a JORC?

[Rafa]

Thanks exgeo for sharing your knowledge...

[mmmmining]

1/ Marathon's resource model up to date looks pretty conservative to me. It seems like they've excluded some large areas of former drilling from the resource calculation because the drilling density was not great enough to include this area, despite indications of mineralisation. This is one of the aims of the current drilling.

Also MT Gee, the current JORC resources area is only one of the deposit. (the white area in on the map) There are small deposits at Armchair, Streitberg, Radium Ridge, Mt Painter, EastPainter, and Hodgkinson in Paralana Mineral System. For example, the drilling results for Hodgkinson does not lead to any resources estimate.

[hitmanlam]

Thanks exgeo. Very informative post. You and YT are my idols!

Cheers to exgeo & YT. :bier:

[panem]

Greetings from Germany!

Currently I am holding 15 different uranium stocks.

But Marathon will be the star in 2007.

A 10-bagger.

JORC and in-situ?

70 mio. lbs?

A reasonable marketcap of about 1,5 billion.

Just wait some month.

[kennas]

Greetings from Germany!

Currently I am holding 15 different uranium stocks.

But Marathon will be the star in 2007.

A 10-bagger.

JORC and in-situ?

70 mio. lbs?

A reasonable marketcap of about 1,5 billion.

Just wait some month.
From what we've seen in the U threads, MTN seems to be a little undervalued to me. I'm not sure about $1.5b as a market cap..... Need further analysis to make that seem plausible........


(not holding)

[panem]

From what we've seen in the U threads, MTN seems to be a little undervalued to me. I'm not sure about $1.5b as a market cap..... Need further analysis to make that seem plausible........


(not holding)


Yes - these are the words by far East Capital Research on Marathon -BEFORE- the recent update....

But even 700 Mio. would be a tenbagger...

Compare the resources to UrAsia or Summit - by quality AND lbs...

I could give you some links, if needed.

[kennas]

Yes - these are the words by far East Capital Research on Marathon -BEFORE- the recent update....

But even 700 Mio. would be a tenbagger...

Compare the resources to UrAsia or Summit - by quality AND lbs...

I could give you some links, if needed.
Thanks Panem, A lot of analysis has already gone into MTN throughout the thread, but with the number of posts it sometimes get lost. If you have some information handy that would help others make a trading decision, would be much appreciated. Cheers.

[panem]

It is quite easy to evaluate:

These are the new results as they came thru the official ASX news:

PARALANA MINERAL SYSTEM
SIGNIFICANT INTERCEPTS FROM DRILLING AT MT GEE
UPDATE OF CURRENT RESOURCE DRILLING
Marathon Resources is pleased to announce that recent drilling at Mt Gee has intersected significant
uranium mineralisation in the western part of the deposit. The Mt Gee deposit is part of the11-12 km
NE extending uranium-rich Paralana Mineral System within Marathon's 100% owned EL 3258
(Figure 1).

Downhole gamma logging results from RC06MN22 and another 12 gamma logged holes of the Mt
Gee drilling program (see Summary of Intercepts in the table below) demonstrate the presence of high
grade mineralisation and significant thickness of intersections, including:

RC06MN17:
98 to 128m:
30m @ 0.08% eU
3
O
8
Including
98 to 104m:
6m @ 0.15% eU
3
O
8
114 to 118m:
4m @ 0.22% eU
3
O
8
RC06MN21:
171 to 188m:
17m @ 0.07% e U
3
O
8
Including
171 to 179m:
8m @ 0.11% eU
3
O
8
RC06MN22:
153 to 230m:
77m @ 0.12% eU
3
O
8
Including
174 to 185m:
11m @ 0.16% eU
3
O
8
204 to 208m:
4m @ 0.19% eU
3
O
8
RC06MN25:
113 to 182m:
69m @ 0.07% eU
3
O
8
Including
117 to 182m:
5m @ 0.14% eU
3
O
8

It should be emphasised that these results are preliminary and the gamma logging will be
confirmed by geochemical analysis. The gamma tool used in the logging program was
calibrated at the Adelaide Model test pits prior to the commencement of logging.

Analysis of the new drilling data demonstrates that increased thickness and high grade zones
are focused approximately 150 m north-west of the area identified by Exoil, CRA (Rio Tinto)
and Goldstream Resources in their exploration drilling programs in the past (Figure 2). Results
of those programs yielded the chemical analyses indicated below:
Exoil MG101:
169.2 to 210.3m
41.1m @ 0.16% U
3
O
8
CRA DD91GE33:
234.0 to 281.1m
47.1m @ 0.16% U
3
O
8
Goldstream PD99GE03:
148.0 to 196.0m
48.0m @ 0.17% U
3
O
8
The new Marathon's drill hole intersections suggest a much larger extent of high grade and very
thick mineralisation along the north-west trend, as previously interpreted based on historical
drilling results, and the results are consistent with the Company's exploration and resource model
of the deposit.
The purpose of the current drilling is to upgrade the resource definition of the Mt Gee deposit from
inferred to indicated and/or measured category. During the period 17.11 - 18.12.2006, the first 18
drill holes, all located in the western part of the deposit, for about 3,500 m RC drilling of the 93


The Mt Gee deposit, with its Inferred Resource of 45.5 million tonnes of uranium
mineralisation averaging 0.068% U

, or 69 million pounds of contained U

, is one of
Australia's largest undeveloped uranium deposits.

As noted in the Company's ASX Release of 19 December 2006, the current drilling program at
Mt Gee was suspended on 18 December 2006 for the Christmas break with 18 holes
completed. Drilling recommenced on 4 January 2007.

[panem]

Next step:

Consider this very carefully:

(even with grades only HALF of the recent results)

http://members.iinet.net.au/~bartle/Picture%208.png

[panem]

Now listen to the analysis from Far East Capital ltd (no linking allowed, but google for the latest analysis from december 2006) on the whole uranium sector and most of the Australien u-stocks:

http://www.fareastcapital.com.au/research.asp?catID=67


Grigor was quite unsure how to deal with Marathon and emphezising Acclaim and Monaro caused by the higher grades.

But IF the newest results will lead into a JORC - and that I will put at 85%- than the way up to much higher stockprices should be clear.

Spoken VERY conservative...

Even at 0,08 and 40 mio.lbs it would be a great value.

[insider]

Now listen to the analysis from Far East Capital ltd (no linking allowed, but google for the latest analysis from december 2006) on the whole uranium sector and most of the Australien u-stocks:

http://www.fareastcapital.com.au/research.asp?catID=67


Grigor was quite unsure how to deal with Marathon and emphezising Acclaim and Monaro caused by the higher grades.

But IF the newest results will lead into a JORC - and that I will put at 85%- than the way up to much higher stockprices should be clear.

Spoken VERY conservative...

Even at 0,08 and 40 mio.lbs it would be a great value.

Great Sources of info :D I wonder what they'd say about MTN since they've now put out some results and have hit 2.22 at one stage...

[insider]

Greetings from Germany!

Currently I am holding 15 different uranium stocks.

But Marathon will be the star in 2007.

A 10-bagger.

JORC and in-situ?

70 mio. lbs?

A reasonable marketcap of about 1,5 billion.

Just wait some month.

If only it were true! :rolleyes:

[panem]

If only it were true! :rolleyes:

Just wait.

Marathon is very weak at PR.

Look at Ditem Exploration for ex. : The CEO is making a tour across Europe (it is an ex-minister from Canada) granting information about Ditem searching for uranium at the athabasca basin.


In other words: They are grass-root, worth 10 mio bucks but they go on tour.

I know, nearly NOBODY in Europe knows that Marathon exists - and those who know doesn't know the grades or lbs they have.

THAT is the problem.

Kisses,

panem

[mmmmining]

Just wait.

Marathon is very weak at PR.

panem

It is true. They did very little on PR. I believe it is a good thing for investors. The management is using the money wisely.

[panem]

Yes, indeed.


Look at the homepage...


Compare it to Wildhorse or ESO Uranium...


OK: In the end it is the lbs. that matter.

But anyway: At least the NAME should be known.

[Pat]

Does anyone have any idea what really happend with MTN great ann? As said before a week earlier it could of gone to $2.40. Chart looks like a little down trend but hasn't broken it's long term line, some support seems to have built. but how long can this dream run continue. I'm out @ $1.96 as i feel urainium is comming to a close.... can't loose $$$ taking profits... Any thoughts? :confused:

[kennas]

Does anyone have any idea what really happend with MTN great ann? As said before a week earlier it could of gone to $2.40. Chart looks like a little down trend but hasn't broken it's long term line, some support seems to have built. but how long can this dream run continue. I'm out @ $1.96 as i feel urainium is comming to a close.... can't loose $$$ taking profits... Any thoughts? :confused:
Oversold on stochastics, RSI still well above 50, and the MACD is negative...doesn't paint a picture to me. If you look at the summaries of all the U stocks though, this still seems undervalued in Market Cap/Lbs U3O8.

I thought that ann was excellent also.... :confused:

(not holding)

[trueblue]

I got in very late according to past posts. But having read that Talbot and CAL were buying in, I decided to go with the flow. Bought at $1.09 and still made a tidy profit.

[mmmmining]

I got in very late according to past posts. But having read that Talbot and CAL were buying in, I decided to go with the flow. Bought at $1.09 and still made a tidy profit.
$1.09 is a good price. I added some more at $1.60 after the newly appointed director spend $200,000 on it at $1.44. I will buy more if I have some spare money. It is still the cheapest comparing with other uranium stocks on EV/lb resources basis.

[Rafa]

Marathon is waking up from its slumber, should only be a matter of time before it breaks its intra day all time high on the day of the announcement...

I hope no long termers sold in the recent correction...

[Pat]

MTN finally held on a good day, havent seen this since it's ann. WOW!
Chart still looks great, still above the trend and the 20 day MA.
MACD coming up.

Yes I sold in during the correction (Was it even a correction?)
Shame on me! :banghead:

But i'm sure i'm not the only one, will learn from this though, trust the charts and the indicators.

Thumbs up to who ever held....

[insider]

100% of my portfolio is MTN... been holding since $1.005... those who sold and cashed in did well... don't deny it :cool:

[Morgan]

Yes I sold in during the correction (Was it even a correction?)
Shame on me! :banghead:


Pat,

It's never wrong to be stopped out on a stock that seems to be going against you at that point in time. The market does not care how much you may personally like a particular stock.
Hindsight always occurs after the fact!!
Those who don't use stops are just waiting to learn the lesson the hard way- I did!

[Rafa]

there certainly is a place for stops...
but for volatile stocks like these, i find its better to consider the trend...
i.e. sell when the trend changes.

in this case, i didn't think the trend changed, unless it closed under 1.80, hence i didn't sell.

The risk is tho you must be willing to loose more than your normal stop loss limits.

[panem]

We still need some strong news and more substantial results from the drillings to underline the possible value that might develope here.

AND the IR hould be much more active - since even Monaro is in Europe to create some contacts.


-------------
"Der Letzte zahlt die Rechnung, meine Herren!"

[hitmanlam]

Just thought i'd give an update on MTN. Not alot of comments recently. I can understand why. Steady as a rock.

Here the chart for MTN. As you can see, general trend is up. Previous resistance was at $2.10. Broke that a couple of days ago. MACD is also looking good. Volume is pretty much the same for as long as i could remember. A thinly traded stock. That's understandable with a small market cap.

There won't be alot of suprises for the future for MTN. I think it will be a slow & steady climb all the way to whatever the fair value is for this stock. (Look at the EV/lb U308).

I think it will continue to go up with one of the best fundamentals in the U sector. (regardless whether its an instu leech mine or not, the fundamentals are still great!) The lead up to the possible change in policy in April will give the sp abit of a boost as with all Aus U stocks. Besides that, i don't think there will be too many suprises. Patient holders will be rewarded.

[mmmmining]

Who let the dog out?

If the drilling results really match the company's resources modeling, it will be fantastic! On peer's EV/lb resources basis, such as SMM, and EME, It is a $12-$20 dollars stock! Am I wrong in calculation? You can prove it.

Mt Gee is only one of the deposit in the Paralana Mineral System which has JORC resources. There are several satellite deposits, such as Radium Ridge, Mt Painter, East Painter, Armchair, Streitberg, and Hodgkinson.

New director Dennis Wood's $200,000 is well spent, his paper profit is worth more than $150,000 in six weeks. It just shows you how strong the buying signal is when a small company's director spend a lot of his/her own money buying stock!

[siempre33]

who said it would be "slow and steady"? ... Marathon up 18%+ today,
quite a "ground-breaking" day for the sp... I will recommend this stock to a friend...

[YOUNG_TRADER]

How far she's come since my first posts on her back in March 06, oh how unloved she was then at 60c


The tennement they have that is heritage listed is 'Fleureau Penninsula' which is near adelaide and no where near its main deposits of Mt Gee, Hodgkinson and Armchair, correct me if I'm wrong


JORC Contained U3O8 tonnes
Using 500ppm cut-off 30mt @ 0.07% = 46.2m lbs U3O8

Using 300ppm cutoff (what PDN is using for Langer Heinrich)
56.6 Mt @ 0.06% = 73.1 m lbs U3O8


50m shares @ 75c = $37.5m with 46m lbs U3O8 = 80c per lb
with 73m lbs U3O8 = 50c per lb

Current Mkt Average is $2.65 per lb
@ $2.65 per lb with 46 m lbs = $122m = $2.40 (MTN)
with 73m lbs = $193.5m = $3.85 (MTN)

You do the math, looks like a very very tasty take over target, especially given the fact that Mega Uranium liked HMR so much that it took it over (which had no deposits just exploration)



Remember The Mt Gee drilling program is expected to be complete mid March 2006. The results of the drilling
will be released progressively as the program proceeds.

The drilling program at Mt Gee will comprise up to six diamond drill holes. The principal purpose of
the program is to investigate extensions of the deposit as the current model suggests its further
continuation in each direction. The drilling will also increase confidence in the results of drilling by
previous explorers, and enhance the resource estimate through the provision of additional data.

[Plan B]

Look what happens when i go away for the day....lol

Market cap still only $142 million at share price $2.85

So what is going to happen after April 2007 labour conference???? :eek7:

[Morgan]

Yet another offer extension today from Buttermeres to take the stock off your hands for 68c !
:screwy:

[hitmanlam]

My slow & steady prediction was totally wrong. But hey, who am i to complain.... :)

Anyways, comparing this to other U stocks & their EV/lb ratio, (around $5 being the market standard) this stock has still a fair way to run yet. A technical breakout plus good fundamental supporting this breakout is a very good sign me.

Current EV/lb = $2, SP = $2.80
U sector = $5

You do the maths.......

[Mellow77]

To do the maths is nice but as was stated above there are different types of resources and more importantly types of mining them. To simply take a ratio of price per lib from another company and use it as a comparison for another is not very sophisticated...

I sold half of my holding today unfortunately in early morning for 2.55 which I bought @ 1$ not long ago. It was meant to be my second short... Again as with ERA (my first) the short seems not to bring any profit... But patient is my second name (hahahahaha).

This uranium bull seems to be unstoppable.

Going to have a nice dinner & red wine (which is very nice in Oz) thanx to MTN :)

Cheers!

[Realist]

I sold half of my holding today unfortunately in early morning for 2.55 which I bought @ 1$ not long ago.

Yeeouch, it closed at $2.85.

:2twocents

[CartmanR]

Isn't Western Australia a no go with uranium, and hasn't the SA Government guaranteed they won't mine on the Fleurieu Peninsula, which is where they're currently hoping to get into?

[hitmanlam]

Going for abit of a run this one. I think it will steadily increase till April's announcement on policy. Still alot of upside when you think the amount of resources they've got.

Glad i picked up this one before it ran. 40% in the last couple of weeks!

[mmmmining]

MTN is out of control. It looks like the bias on MTN is gradually disappeared. People start to associate MTN with SMM, NEL, and EME. Still market cap. less than $200m, less than $3/lb resources, still the cheapest one amount the major juniors.

Funny to notice that NEL has the same SP ($3.25) today, and similar market cap (with much less cash $2m vs $8m though). but has less than 1/3 of the uranum resources (NEL 9000t vs MTN 31,255t).

Simply apply NEL's valuation, MTN's SP should be over $10!!! It explains why the steady and continues upwards of MTN's SP.

Another good thing is $8m in the bank will keep MTN running for a couple of years without dilute the share base.

I guess for whoever still not on the uranium express, MTN is still waiting for them on the station. But time is running out....

[insider]

MTN is out of control. It looks like the bias on MTN is gradually disappeared. People start to associate MTN with SMM, NEL, and EME. Still market cap. less than $200m, less than $3/lb resources, still the cheapest one amount the major juniors.

Funny to notice that NEL has the same SP ($3.25) today, and similar market cap (with much less cash $2m vs $8m though). but has less than 1/3 of the uranum resources (NEL 9000t vs MTN 31,255t).

Simply apply NEL's valuation, MTN's SP should be over $10!!! It explains why the steady and continues upwards of MTN's SP.

Another good thing is $8m in the bank will keep MTN running for a couple of years without dilute the share base.

I guess for whoever still not on the uranium express, MTN is still waiting for them on the station. But time is running out....

I have the same sentiment as you MMMMMMMINING

[UraniumLover]

MTN is still undervalued. This road train has another 100 % + Growth rate in it if you compare it to other shares in the Uranium sector like EME,AGS on Market Capitilisation / t u308 basis. I'm riding this BULL all the way to production . UP over 100% crazy , best performer by far in my Uranium Portfolio.
UraniumLover

[Halba]

doubt $10 for this

SMM has i reckon 150-200mil pounds on their tenements, and that also about $3-4/EV a lb concurrently. SMM has lower operating costs, not on a heritage listed property, open cut mine, and also higher forecast output rates etc etc.

[radio-active man]

smm hs beattie to contend with. I put this fact down as their biggest risk.

Don't forget even though the federal party may have a change in heart re: the 3 mines policy. This change does not automatically come into effect in each of the states.

State and Federal politics is a dirty game.

Lot's of positives and negatives on both SMM and MTN atm. The mc is one of MTN strengths as it allows for plenty of ST and LT growth.

[champ2003]

doubt $10 for this

SMM has i reckon 150-200mil pounds on their tenements, and that also about $3-4/EV a lb concurrently. SMM has lower operating costs, not on a heritage listed property, open cut mine, and also higher forecast output rates etc etc.

How many shares does SMM have on offer though? I'm not sure. Thats something to look in to also.

[spooly74]

smm hs beattie to contend with. I put this fact down as their biggest risk.

Don't forget even though the federal party may have a change in heart re: the 3 mines policy. This change does not automatically come into effect in each of the states.

State and Federal politics is a dirty game.

Lot's of positives and negatives on both SMM and MTN atm. The mc is one of MTN strengths as it allows for plenty of ST and LT growth.

Beattie has said in many interviews that whatever the party decides in April at the conference ... the QLD Gov will follow suit. Here is a couple of quotes from the man himself ...

PETER BEATTIE: I don't want to do anything that's going to undermine the coal industry, but the future of uranium's in the hands of the national ALP conference.

REPORTER: Will the national ALP conference stand in the way of Queensland benefiting from a uranium bonanza?

PETER BEATTIE: Let me assure you, nothing involving the Labor Party or anyone else will stand in the way of Queensland's advancement or development. ...abc.net

[TheAbyss]

IMO Mr Beattie will claim all decisions that are favourable and play teflon man (nothing sticks) with anything potentially damaging to the party or himself. He has a long history of playing the media.

The fact that he is saying that the nuclear decision is out of his hands is a strong pointer towards it getting a go ahead.

The coal miners are major contributors and he wont want to risk their ire so he will be want to be seen as towing the federal line. The less he involves himself the more likely the outcome to be a positve one for the U308 companies. After all he is not going to stand still if he can maximise some gain. We are not seeing him beating his chest and denouncing U308 and supporting alternatives such as coal (clean or otherwise or CSM gas.

All just my opinion bases on what most Qlders see on a regular basis.

[Halba]

imho st and lt growth mean nothing when a company can;'t produce. your money is okay in a bubble, but when people realise these things can't produce then whats the point?????

i don't see MTN producing in time, and its production(1000t) won't be meaningful when it does start to produce

The environmental approval process for MTN (as it is in a sensitive area) is going to be complex. Look at terramin on how it was handled, and that was a small mine.

[champ2003]

imho st and lt growth mean nothing when a company can;'t produce. your money is okay in a bubble, but when people realise these things can't produce then whats the point?????

i don't see MTN producing in time, and its production(1000t) won't be meaningful when it does start to produce

The environmental approval process for MTN (as it is in a sensitive area) is going to be complex. Look at terramin on how it was handled, and that was a small mine.

LOL and have a look at Terramin's share price in 1 year from now. I think it will be a lot higher than it is currently. I'm sure that MTN will expand its resources also in other locations however I beleive that there is more to it already than just Mt Gee. They also have Tennants at Wild Dog that will be explored. MTN is only 1 of very few that is in the process of conducting a pre feasablity study in a mining friendly state which is SA. MTN will be a producer one day. Mt Gee alone has 59 Million Tonnes @ 0.062% which is the equivilent of 80 million pounds U3O8 so I guess if 80 million pounds does nothing for you then there's not much else out there thats better at this stage IMO.

Best regards

Champ
:D

[champ2003]

How many shares does SMM have on offer though? I'm not sure. Thats something to look in to also.

Halba if you would like to compare SMM with MTN here is something else to consider.

SMM has approx 197 Million shares on offer, MTN has only 43 Million which is about 4.5 times less. That makes MTN's share price dirt cheap as a comparison also.

Cheers!

Champ

[mmmmining]

Some people said MTN has property on Heritage List, and Environmental sensitive area. It sounds like "THE SUSTAINABLE ENERGY and ANTI-URANIUM SERVICE INC.", the anti-nuclear people.

For whoever bring these issue again, I appreciate they do the following things:

1. Provide detail information on which part or the whole MT Gee (EL3258) is on the Heritage List, and from which year?

2. Provide detail information on which part or the whole Mt Gee (EL3258) Area is environment sensitive? When SA govt declare it?

We just cannot keep reproduce the hearsays, bring up the facts.

Thanks.

[UraniumLover]

I prefer MTN over SMM.
MTN has a much lower Market capitailisation compared to t/u308. Probably makes it a more attractive take over target - possibly from a Chinese company like Sinosteel who like PNN in SA. I would have gone for MTN but anyway.
MTN growth rate has been far greater. MTN 200% increase in last 3 months, SMM 45% -
MTN-(SA) has Mike Rann who is very supportive of the SA Uranium Industry. Policy change should be less risk.

[mmmmining]

In addition to Mt Gee's 31,255t U3O8, there are resource estimates done by Exoil as follow: (MTN's ann on 2 Aug 2005)

Hodgkinson: 484t at 2200ppm
Armchair: 680t at 1000ppm
Streitberg: 600t at 1000ppm
Radium Ridge: 1211t at 700ppm
Total: 2975t at 1000ppm

MTN does not even mention this afterwards. They are all within 12km radius, and a good size deposits with further exploration upside that most uranium junior hopefuls are dying for.

Why?

If Mt Gee deposit is not real, I guess MTN will jump up and down about those smaller deposits.

[champ2003]

In addition to Mt Gee's 31,255t U3O8, there are resource estimates done by Exoil as follow: (MTN's ann on 2 Aug 2005)

Hodgkinson: 484t at 2200ppm
Armchair: 680t at 1000ppm
Streitberg: 600t at 1000ppm
Radium Ridge: 1211t at 700ppm
Total: 2975t at 1000ppm

MTN does not even mention this afterwards. They are all within 12km radius, and a good size deposits with further exploration upside that most uranium junior hopefuls are dying for.

Why?

If Mt Gee deposit is not real, I guess MTN will jump up and down about those smaller deposits.

That sounds good Mmmmining however you need to increase MT gee's Inferred resources to 45.5 Million Tonnes of Uranium mineralisation averaging .068% u3o8 or 69 million pounds of contained u3o8. (AS stated in the latest Mt Gee update dated 9th Jan 2007).

Best regards

Champ

[mmmmining]

In addition to Mt Gee's 31,255t U3O8, there are resource estimates done by Exoil as follow: (MTN's ann on 2 Aug 2005)

Hodgkinson: 484t at 2200ppm
Armchair: 680t at 1000ppm
Streitberg: 600t at 1000ppm
Radium Ridge: 1211t at 700ppm
Total: 2975t at 1000ppm



Sorry, I might confused you guys. All tonnage is contained U3O8, not minerals.
So in addition to 31255t U3O8 at Mt Gee, they have additional 2975t (6.54m lb) U3O8 at nearby deposits.

Also they have some more at Mt Painter East at lower grade (considered "very high" for some other juniors) although the have a few high grade drilling, and a small high grade ore body at 3300ppm. It is estimated that 10mt ore at 300ppm for another 3000t (6.6m lb) contained U3O8! (from MTN's ann dated on Aug 2, 2005)

Also the Mt Painter has not been mentioned. I guess it will be a natural extension from Mt Gee deposit after more drilling at east side of Mt Gee.

I strongly recommended for MTN lovers and MTN doubters read the Aug 2, 2005 ann. I believe the whole MTN story begun from there.

If you cannot find it, please PM me. I will email you one.

[champ2003]

Sorry, I might confused you guys. All tonnage is contained U3O8, not minerals.
So in addition to 31255t U3O8 at Mt Gee, they have additional 2975t (6.54m lb) U3O8 at nearby deposits.

Also they have some more at Mt Painter East at lower grade (considered "very high" for some other juniors) although the have a few high grade drilling, and a small high grade ore body at 3300ppm. It is estimated that 10mt ore at 300ppm for another 3000t (6.6m lb) contained U3O8! (from MTN's ann dated on Aug 2, 2005)

Also the Mt Painter has not been mentioned. I guess it will be a natural extension from Mt Gee deposit after more drilling at east side of Mt Gee.

I strongly recommended for MTN lovers and MTN doubters read the Aug 2, 2005 ann. I believe the whole MTN story begun from there.

If you cannot find it, please PM me. I will email you one.

Hi Mmmmining,

No offence but I think that you are a little confused about the Inferred resource at Mt Gee. Its not 31255t. Please refer to the link below to see the latest results. Forget 2005 results as thats well and truly outdated now.

This is the exact wording in the latest document with the link below:-

The Mt Gee deposit, with its Inferred Resource of 45.5 million tonnes of uranium
mineralisation averaging 0.068% U3O8, or 69 million pounds of contained U3O8, is one of
Australia’s largest undeveloped uranium deposits.


http://imagesignal.comsec.com.au/asxdata/20070109/pdf/00683884.pdf

Best regards

Champ

[spooly74]

Hi Mmmmining,

No offence but I think that you are a little confused about the Inferred resource at Mt Gee. Its not 31255t. Please refer to the link below to see the latest results. Forget 2005 results as thats well and truly outdated now.

This is the exact wording in the latest document with the link below:-

The Mt Gee deposit, with its Inferred Resource of 45.5 million tonnes of uranium
mineralisation averaging 0.068% U3O8, or 69 million pounds of contained U3O8, is one of
Australia’s largest undeveloped uranium deposits.


http://imagesignal.comsec.com.au/asxdata/20070109/pdf/00683884.pdf

Best regards

Champ

Hi Champ

45.5 million t of mineralised ore at 0.068% u3o8 = 30,940t u3o8
30,940t u308 = just over 68 million pounds of contained u308 (68,068,000)

45.5 million t is the total mineralised area Marathon have to process to get 30,940t of contained u308.

cheers

[champ2003]

Hi Champ

45.5 million t of mineralised ore at 0.068% u3o8 = 30,940t u3o8
30,940t u308 = just over 68 million pounds of contained u308 (68,068,000)

45.5 million t is the total mineralised area Marathon have to process to get 30,940t of contained u308.

cheers

Hi Spooly,

Thanks for clarifying that. It appears that it was actually me that had it mixed up LOL.

Anyway at the end of the day 68 million pounds sounds good to me. :)

Best regards

Champ

[mmmmining]

Hi Champ

45.5 million t of mineralised ore at 0.068% u3o8 = 30,940t u3o8
30,940t u308 = just over 68 million pounds of contained u308 (68,068,000)

45.5 million t is the total mineralised area Marathon have to process to get 30,940t of contained u308.

cheers
Cahmp and Spooly,

I guess we are talking about the same thing. I quoted directly from the latest qtr report, 31,255t U3O8, which is exactly the same as 45.5Mt ore x 0.068% if you consider MTN ignore the last two digits of the grade which is: 0.06845%, whatever it is. Anyway, the resource number is just a base for further upgrade. That is what the drilling job for.

My purpose here is

1. To point out that in addition to 31,255t contained U3O8 JORC resources in Mt Gee deposit only, there are additional 6,000t (or 13m lb) contained U3O8 non JORC resources in various grade around Mt Gee. It represent near 20% more resources.

2. From another angle to prove the Mt Gee is real. 6,000t (13m lb) Contained U3O8 means a lot to dozens of uranium juniors, but MTN not even bother to mention it recently. It proves that Mt Gee deposit is big enough that they can focus on, and we can trust for.

To have the additional resources in mind will increase my confidence to hold MTN, or buy more.

[champ2003]

Cahmp and Spooly,

I guess we are talking about the same thing. I quoted directly from the latest qtr report, 31,255t U3O8, which is exactly the same as 45.5Mt ore x 0.068% if you consider MTN ignore the last two digits of the grade which is: 0.06845%, whatever it is. Anyway, the resource number is just a base for further upgrade. That is what the drilling job for.

My purpose here is

1. To point out that in addition to 31,255t contained U3O8 JORC resources in Mt Gee deposit only, there are additional 6,000t (or 13m lb) contained U3O8 non JORC resources in various grade around Mt Gee. It represent near 20% more resources.

2. From another angle to prove the Mt Gee is real. 6,000t (13m lb) Contained U3O8 means a lot to dozens of uranium juniors, but MTN not even bother to mention it recently. It proves that Mt Gee deposit is big enough that they can focus on, and we can trust for.

To have the additional resources in mind will increase my confidence to hold MTN, or buy more.

Thanks Mmmmmining,

I agree. It makes good sense.

Cheers

Champ

[spooly74]

Hi Spooly,

Thanks for clarifying that. It appears that it was actually me that had it mixed up LOL.

Anyway at the end of the day 68 million pounds sounds good to me. :)

Best regards

Champ

Yep, and I dont think you're alone either! 68 mil sounds good to a lot of others aswell :D

[insider]

Wow this thing is just free falling... down 37 cents... where's support I can't tell... There really doesn't seem to be any

But it looks like the day traders are already selling up with their 2000 shares each.... good

[56gsa]

where's support I can't tell...

2.95? otherwise 2.40?

[nizar]

Oh wow since when was MTN worth $3++

[Halba]

rite in middle of national park

GOOD LUCK!!

[exgeo]

These last few posts bring to mind visions of Clive Dunn in Dad's Army exhorting people to "don't panic, don't panic!".

I'm a holder of MTN (15,000 shares) and will continue to be unless proven a lot more wrong than one day's fall. After such a runup, a pull-back is to be expected. I think there's a much greater chance of losing money by being short uranium stocks than by being long. For the record, I also have NEL, SMM, EME and URL that I just bought a couple of days ago.

[insider]

These last few posts bring to mind visions of Clive Dunn in Dad's Army exhorting people to "don't panic, don't panic!".

I'm a holder of MTN (15,000 shares) and will continue to be unless proven a lot more wrong than one day's fall. After such a runup, a pull-back is to be expected. I think there's a much greater chance of losing money by being short uranium stocks than by being long. For the record, I also have NEL, SMM, EME and URL that I just bought a couple of days ago.

No way... this price fall is scheduled... It's fine... seriously you can't expect it to never go down... remember it's two steps foward and one step back

[champ2003]

rite in middle of national park

GOOD LUCK!!

Halba we have asked people like you who mention crap like this to be specific. Please show us the specific facts/ articles/announcements etc to back up your claims.

There are many professionals out there who will argue your point and Fat Prophets are one of them and they are extremely fussy on their Uranium recommendations.

Show us the facts. Not your uninformed opinions.

Thanks

Champ

[mmmmining]

One piece of land can either be national park/natural reserve or explorable/mineable. They cannot be both.

Residential land could be part of exploration/mining lease. But national park/natural reserve cannot.

In terms of MTN, Actually there is a nation park nearby. But Mt Gee is not part of it. The national park is adjacent to AGS's EPL, and AGS's EPL encircles the whole MTN's Mt Gee EPL.

The aboriginal rite sites is not necessarily limited to national park, or crown land, it could be on any land, including private owned farms. (I believe it is excluded from you backyard, but could on a public park).

Like any company, MTN has to deal with aboriginal issue before exploring and mining. It is a standard operation procedure. It is the risk for MTN only, it could be any companies, such as SMM, AGS, AEE, NEL, CUY.....

[insider]

The truth about aboriginal rites to land is usually the aboriginals allow mining in the area in return for royalties.

The reality about mining is that there is nearly no control when it's under ground... we can mine under people's houses, you just can't damage them...
so keeping that in mind, just so long as the damage is not cosmetic or if there is any you must replace, there shouldn't be any real issues when it comes to tunneling...

And if there is a problem just remember; Everything has a price!!!

[champ2003]

The truth about aboriginal rites to land is usually the aboriginals allow mining in the area in return for royalties.

The reality about mining is that there is nearly no control when it's under ground... we can mine under people's houses, you just can't damage them...
so keeping that in mind, just so long as the damage is not cosmetic or if there is any you must replace, there shouldn't be any real issues when it comes to tunneling...

And if there is a problem just remember; Everything has a price!!!

Too true Insider and mmmmining. Great to see some educated comments.

Cheers!

Champ

P.s everyone, I don't mind reading negatives either so long as it is factual.
:)

[spooly74]

Hi Guys,
Below is a link to the Mt Painter Region and includes a general history of the area and the mining thats gone on there in the past.
There is a mention of the area being a sanctuary but also says the "MPI (Mount Painter Inlier) is an excellent example of conservation and tourism operating side-by-side with active mineral exploration".
The only thing that would worry me is the terrain.
Anyhow check it out if interested.
cheers

http://www.pir.sa.gov.au/pages/minerals/references/mesa_journal/mj_38/mj38_mt_painter.pdf

[mmmmining]

MTN get smashed today another stock falling from as high as $3.50 to $2.85

[mb1]

Well the support levels are around 2.80. Ive been waiting for this to happen so I can on this train. Is now the time?
Whats the next level of support? 2.20?

[kerosam]

is this mob serious???? last price in the market for MTN was $2.84 and they are offering $0.68 per share! am i missing out on something here?

but then again, MTN's value could be only $0.68.

[mmmmining]

is this mob serious???? last price in the market for MTN was $2.84 and they are offering $0.68 per share! am i missing out on something here?

but then again, MTN's value could be only $0.68.
When MTN's value could be only $0.68, you could be a very rich guy, so keep hoping.

[UraniumLover]

what a joke when you consider only 43 m shares..
I might take day off and go see Peter Williams down George street Tomorrow for lunch and put in an offer myself lol . Maybe ask for a job too since i like Uranium so much :) :) don't think get much work done tomorrow as looking to buy more if rebound from resistance 2.80.

[Realist]

MTN is getting beaten like a red headed step child today.

Down to $2.56. :(

I too have received about 5 letters from Buttermere.

I seriously considered selling all my shares for 0.68 when they were $3.20.......Not.

David Tweed or whatever his name is would not even try that one! :cool:

[Accaeric]

good buy opportunity

Just as most U stocks smashed recently, take PNN, down to 1.38 from 2.2, today back as high as 1.94

[mmmmining]

Fear dominate MTN for last three days, just like greed did last week. People just speculating all kind of things. People who read chart set a lot of stop loss marks, when it hit, it can sell share to you at any price, Virtually could be lower than $0.68. For the same reason, when stock moves up, when it hit the buy high limit, the stock could be skyrocketing in a very short period of time.

That contribute to the big swing of MTN and all uranium stocks. It can easily be manipulated by big guys, who just need to read chart, test the stop loss, support level, or buy limit, resistance level, then everyone dancing around.....

Chartist did make a good money, but if you can read chartist, I guess you can make more money.

[insider]

MTN is getting beaten like a red headed step child today.

Down to $2.56. :(

I too have received about 5 letters from Buttermere.

I seriously considered selling all my shares for 0.68 when they were $3.20.......Not.

David Tweed or whatever his name is would not even try that one! :cool:
LMFAO :D I hope you don't have a red headed step child!

It is a bit annoying seeing it so low because my urge was to sell at $3.20 before it fell further and then buy more but then I wouldn't get CGT for another year... ARRRRG

[exgeo]

Buttermere (aka Crosby Capital Partners) are the same mob who put in a lowball bid for Tethyan copper, with the bid price always a few cents below the market price. Not surprisingly, eventually somebody else was successful in buying Tethyan. No doubt MTN, NEL, SMM and anybody else with a JORC Uranium resource will eventually get taken out by one of the bigger companies. RPT and VUL have already gone in the last 12 months.

[mb1]

whats the next major support level? $2.00?

[Accaeric]

whats the next major support level? $2.00?

Next support level is $0.68 :D :D Just kidding

IMO, it will be bouncing back to $3 shortly

[mb1]

Bugger it, im in. I waited and the buying opportunity is there for me. Long term hold

[mmmmining]

Buyer is on sideline and wait....

Sellers has accumulate enough stock inventory for sell. They are sell it at whole sell price...

No news, purely technical selling.... and weak hands are continuously shaking out.

A ticket from ASX might on the card...

A assays report could completely reverse this trend.

[gamerice]

Buyer is on sideline and wait....

Sellers has accumulate enough stock inventory for sell. They are sell it at whole sell price...

No news, purely technical selling.... and weak hands are continuously shaking out.

A ticket from ASX might on the card...

A assays report could completely reverse this trend.

when do you think we will get the next assay report/announcement?

[mmmmining]

when do you think we will get the next assay report/announcement?

I don't know and I don't care. Could be any time. I Just hold tight. If someone offer $10 for MTN, I might consider it. Otherwise, I will stay on.

[dj_420]

crazy intra day spreads on this one. low of 2.45 high of 2.83! thats like a 20% swing, if i was good at swing trading would be great one to make some dosh off.

always very volatile this one

[insider]

Bugger it, im in. I waited and the buying opportunity is there for me. Long term hold

Allow me to quote some WC Warrant taken from the song Cherry Pie. "A smile on your face, ten miles wide" :D . Good work MB1... you have to be in it to win it... Let's hope it goes up from 2.45 dollars "I scream you scream for her"

MTN is "Sweet Cherry Pie"

[Accaeric]

Next support level is $0.68 :D :D Just kidding

IMO, it will be bouncing back to $3 shortly

Actually, i didn't expect it hits $3 today. :D

[Realist]

LMFAO :D I hope you don't have a red headed step child!


I did have one... :casanova:

$3.10 now, what a weird day. :eek7:

[Rafa]

amazing...
i didn't buy any, cause i already have plenty,
but loving not having a stop loss set on this one...

well, now, anyway, now that its back up... ;)

hope some of you others took the opp to top up.

[mmmmining]

Enjoy the ride? I do. Suddenly I realize that $10k would not get your 20,000 shares anymore, even not enough for 4,000. Amazing, isn't it?

I am glad that there are still many true believers.

Do we have any new passengers? If do have, welcome.

The future ride maybe up and down, but the destination is only one. Fasten your seatbelt....

[UraniumLover]

Not sure whether i should put my last dollars on MTN or BTM.
Both are great but which one is better
:eek7: :eek7: :confused:

[kromey]

BTM?

[insider]

Not sure whether i should put my last dollars on MTN or BTM.
Both are great but which one is better
:eek7: :eek7: :confused:
Howabout both if you can't decide... But I'd put it in MTN

[UraniumLover]

typo - BMN BANNERMAN RESOURCES FPO :eek:

[Rafa]

i'd get both too...
(infact i already have both)

[yellowcake]

Hi guys,

If I calculated this thing correctly, MTN is valued at about 1.39 US $/lb of JORC-compliant U3O8, which is well below the comparables. Why is that? Are they in the middle of a national park or something? Or is just because they're not listed on the pink sheets?

Also, where can I find maps of mining/exploration tenements in Australia (i.e. who owns what)?

Are mining claims (a.k.a. exploration tenements) regulated by the Federal Government or by the States / Northern Territory?

thanks for any info!

cheers,

yellowcake

[mmmmining]

Hi guys,

Are they in the middle of a national park or something?

yellowcake

Go read our early post about national park and relation to AGS, etc.. Mt Gee EPL is not a national park...

[mmmmining]

New drilling results are out. It is very consistent with the first batch. And the width is about 30m. I am getting more and more confident about the size of the resources...

[hitmanlam]

Chart for MTN. Resistance at $3.45-$3.50.

[Pat]

Chart for MTN. Resistance at $3.45-$3.50.

Hitman,
May I ask what all this means?

[hitmanlam]

Hitman,
May I ask what all this means?

MTN looks like forming an "Ascending triangle". This pretty much means increasing sellers near the $3.50 mark and not allowing the price to go above this price. Imagine a ceiling at $3.50. This is resistance. (horizontal line drawn at $3.50). However, buyers are building at lower prices resulting in the support price going up (bottom line going up). There is a struggle between seller & buyers with sellers increasing near $3.50 & increase buying below this price. This is what you see on the chart with the wedged-like shape forming.

So when price slowly creeps up to $3.50, what will happen you might ask? Either two things:
1) Bounce of resistance of $3.50 and price going lower.
2) Price 'breaks' through this resistance and continuing the uptrend.

In the case of MTN, price is going up, then pausing or slight retracing, then it could either going up or down. See the circles drawn.

Conclusion - Because it is an ascending triangle in an uptrend, it is "more likely" that price will continue its uptrend. The support line increasing below the horizontal resistance line is the signal! If is was a short-term trader, I would buy only above/pass the resistance e.g $3.60? More chance of price continuing. But don't take my word on it!!! DYOR.

[kennas]

MTN looks like forming an "Ascending triangle". This pretty much means increasing sellers near the $3.50 mark and not allowing the price to go above this price. Imagine a ceiling at $3.50. This is resistance. (horizontal line drawn at $3.50).
Certainly resistance at $3.50, but looks a pretty rough old ascending triangle....

[Pat]

MTN looks like forming an "Ascending triangle". This pretty much means increasing sellers near the $3.50 mark and not allowing the price to go above this price. Imagine a ceiling at $3.50. This is resistance. (horizontal line drawn at $3.50). However, buyers are building at lower prices resulting in the support price going up (bottom line going up). There is a struggle between seller & buyers with sellers increasing near $3.50 & increase buying below this price. This is what you see on the chart with the wedged-like shape forming.

So when price slowly creeps up to $3.50, what will happen you might ask? Either two things:
1) Bounce of resistance of $3.50 and price going lower.
2) Price 'breaks' through this resistance and continuing the uptrend.

In the case of MTN, price is going up, then pausing or slight retracing, then it could either going up or down. See the circles drawn.

Conclusion - Because it is an ascending triangle in an uptrend, it is "more likely" that price will continue its uptrend. The support line increasing below the horizontal resistance line is the signal! If is was a short-term trader, I would buy only above/pass the resistance e.g $3.60? More chance of price continuing. But don't take my word on it!!! DYOR.

Thanks for that Hitman...

Understand what a ascending triangle is, and yes a bit rough Kennas, but so am I.
However what are those "big" green circles indicating?
Just a sideways pattern?

Anyway, I see MTN continuing it's dream run, just come off the the top Bollinger band with the crazy panic sell for those 3 days... "crazy"! Last day had that MEGA volume, I jumped in for the run back up... But still don't trust this U bubble.

MACD still good with and maybe a bearish crossover but i'd say this is/was a result of the panic sell.

How high can it go, I sure as hell don't know :confused:

[Rafa]

first attemt to break 3.50 is underway...
wasn't expecting it so soon!

[Rafa]

Wow...
this is looking like its going to be the first and last attempt!

[mmmmining]

Like it or not, At this moment, MTN is both technical and fundamental sound. As a long-term believer and holder, it is just another milestone (touch wood). Share price up and down, I don't care.

I do congradulate fellow MTN holders.

[hitmanlam]

Thanks for that Hitman...

Understand what a ascending triangle is, and yes a bit rough Kennas, but so am I.
However what are those "big" green circles indicating?
Just a sideways pattern?

I was just highlighting that MTN was in a period of consolidation. Profit-takers came in but the share price soon recovered, reaching new highs. Last couple of days, volume was fairly low. If i had more money, I would have topped up at close today. Bullish signal, it broke resistance, still good fundamentals & the historical chart shows that the sp is ready for another leg up.

[Pat]

I was just highlighting that MTN was in a period of consolidation. Profit-takers came in but the share price soon recovered, reaching new highs. Last couple of days, volume was fairly low. If i had more money, I would have topped up at close today. Bullish signal, it broke resistance, still good fundamentals & the historical chart shows that the sp is ready for another leg up.


Thanks mate.
I agree. MTN the black sheep, taken off like a rocket in the past 2-3 months..... WOW!!!!!
I just wish i held, stupid money emotions :banghead:
Cheers.

[UraniumLover]

has anybody worked out what MTN is worth.
up another 9% last i looked today.

[insider]

the resource findings are worth about 5 Billion dollars... :D

[mmmmining]

MTN has 69mlb JORC resrouces U3O8 in Mt Gee, plus another 13mlb non-JORC resources surround Mt Gee deposit in the EL3528, the Paralana Mineral System, including Mt Painter, East Painter, Radium Ridge, Armchair, Streitberg, and Hodgkinsen.

It contains the source rocks for the deposit in B4M, Honeymoon, Beverley deposits.

Fully diluted shares: 60m, the $8m cash in hand will prevent dilution.
Resources: 81mlb

At $3/lb It worth: $4.05
At $4/lb, It worth: $5.40
At $5/lb, It worth: $6.13 (assume 10% dilution)
At $6/lb, It worth: $7.36
At $7/lb, It worth: $8.59
At $8/lb, It worth: $8.93 (assume another 10% dilution)
At $9/lb, It worth: $10.04
At $10/lb, It worth: $11.16

Well, this is only one way to look at it. You might argue that MTN is not SMM, or PDN, or EME. That is right, MTN is not. This is why MTN is valued at low end, not high!

Also that is the beauty of MTN! Full of fear, not much greedy, an important formula for love and hate, and steady appreciation of share price.

Lets highlight the fear of MTN:

Has JORC resource without drilling a hole (Latest drilling results support the modeling)
Inside a National Park (totally false)
Heritage List (totally false)
Aboriginal land (which land is not?)
Environment issue (which mining project does not need to address it?)
Remote (has driveable road/trail to the site)
Water catchment (It is the old Wild Dog license near Adelaide, not Mt Gee, and MTN hand it back to SA government)

Fear comes and goes, eventually, the facts will decide the final price of MTN either by takeover, or operation of a uranium mine.

[Halba]

its worth zilch if it cannot mine at good uranium prices

[shinobi346]

and it is worth lots if it can. have a nice day. :)

[mmmmining]

its worth zilch if it cannot mine at good uranium prices

Halba, you just have added another fear on my list. very good, thank you.

To address your fear, I cannot only see you and me, and Mr market cannot control this. same to SMM, PDN, BMN, etc.

Keep hoping, while seeing this stock up and up, and losing the opportunity to make good money.

It is not easy to fight the market, and you never win. I learn the lesson.

Halba, also we need you, we still have people on the sideline. It is a very good bullish indicator that MTN is not at top yet.

As always, stock up and down, MTN might be down tomorrow, or even next week, or next month. As long as you believe the truth, who cares?

[hitmanlam]

Well, just saw PDN place a takeover offer for SMM today.

I thought about MTN and why a big Canadian company hasn't put an offer on the table yet. I mean, MTN has proven that it's got an economically viable resource. And not just that, it's cheap too. EV/lb of $3 and a market cap of only $240 mil. For a big Canadian company, $240 mil is NOTHING.

So why no offer yet?

The more i thought about it, the more i think this is the reason why. There's one thing that stands in the way, the current 3 mines policy...

All of us know that the Aus U companies would absolutely plummet if policy didnt change in April. IMO, and emphasize here just an opinion, the big companies are waiting for this policy to change before they put an offer on the table. Although they might have to pay a higher price after the change in policy, i think they are willing to pay that premium just to make sure that they eliminate the chance of buying a company that won't mine.

My prediction, and a bold one at that.....there will be an offer for MTN straight after the April policy. Not just MTN, but a wave of takeover offer for unvalued Aus companies. Abit like the takeover frenzy that happen after the media law changes awhile ago.

PS. There is always the risk of Labour not changing policy (although looking very unlikely now) and the other is I could be absolutely wrong! I have no contact with any director or anyone remotely that. The above is just a wild prediction. Don't take it as financial advice. And finally, DYOR!!!

[insider]

Great analysis... I agree with ya

[YELNATS]

Well, just saw PDN place a takeover offer for SMM today.

I thought about MTN and why a big Canadian company hasn't put an offer on the table yet. I mean, MTN has proven that it's got an economically viable resource. And not just that, it's cheap too. EV/lb of $3 and a market cap of only $240 mil. For a big Canadian company, $240 mil is NOTHING.



Well there is still Buttermere's offer for MTN, extended again until May 4th. Only 68c, but at least they say they are now reconsidering it, in view of MTN's recent gains. They probably need to lift it about 1000% !!! regards YN.

[purple]

My prediction, and a bold one at that.....there will be an offer for MTN straight after the April policy. Not just MTN, but a wave of takeover offer for unvalued Aus companies.

March 07 - *IF* Cameco reports remediation work will take longer than expected
April 07 - *IF* Labor lifts all bans on U mining

there will be a queue stretching all the way from the North Pole for takeovers/acquisitions.

Question is, how is the Fed gov going to control it? Same way it took the China boom - just export the stuff out ASAP, sit back and let the cash pour in!

tha might be pretty dangerous as it might lead to uncontrolled U prices...if it surges to a level where it's too expensive to use anymore, it implodes...

then it's the Charge of the Light Brigade...U will become like oil, overpriced, and we will turn to the next energy miracle, the humble soybean.