MMR - MEC Resources

noie said:

Down close to 17% and has a bit of weight behind it.

any thoughts on why? profit taking maybe , but this is a little drastic.

Click to expand...

Flesh wound lol... courtesy of BESBS players and MEO IMO. Positions now taken and with the spud today, on with the show.

Good luck all Peppies!

if neither MMR nor BPH or GBA have issued a quarterly report to date, does this mean they are all waiting to announce the public listing of advent. Ha Ha

On the face of it MMR seems to have ticked all the right boxes for more stellar gains during this week based upon the following.

We closed at the day's high +39% at 16c with the options (20c maturity 4th July 2013) up 65% at 5.8c

Volume at 3.8mn is the highest since back in February when MMR was still trending downwards.

At the close there were 1.6mn shares in the bid queue above yesterday's close - which with the close at the day's high would indicate there are a lot of unfilled orders out there.

The offer side is tiny compared to the bid side especially nearer to the market price.

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In addition to the above casual observations I also like the following:

The independent report prepared by the consultancy firm RISC gives the Weaber Field 13.9 bcf of 2C reserves which to me sounds like a lot even if, at 2C, the provenance is not 100% - which is why it is 2C. A compelling farmin project perhaps?

The half yearly report gives the asset backing per share of 32.1c against an SP of 16c today.

It is worth listening to the BRR presentation from 11th April as it potentially gives some clues as to future developments which as it was recorded 3 months ago could easily relate to early July. especially with regard to RL1 & EP 386.

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I have taken a punt by buying 50k options and 50k heads today - it is unlikely I will buy any more.

Any unexpected ANNs such as a farmins or other corporate developments would have to be seen as a bonus.

Still there was a lot of buying today there has to be a reason behind it all - after all MMR has been a bit leaky in the past so let's hope it is again.

With options not due until mid 2013 then the undiluted mkt cap based upon 16c and 156mn shares is still only around $25mn.

Cash is around $12mn.

I am suprised we did not get a speeding ticket today - not to worry imo some sort of ANN must be due to justify today's action on the screen.

Any comments or other MMR goodies I have missed?

EB

Up from 11c to 20c this week.

Closed with hardly any offered and a hugely increased bid side.

9mn shares traded durng the week.

Bid strength would indicate it will go much higher next week.

1 year high is over $1 so I guess they are still a bargain at 20c.

I hold both heads and options -

Worth keeping on the watchlist early next week imo

EB

has it really been that long? Rip Van Winkel eat your heart out.

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not really $0.00, but could well be !!

Since waking up, this $7 million MC outfit is doing what?

On 23 Sept 2024 the Company announced a pro-rata non-renounceable entitlement issue of one Share for every one existing Share together with 1 free attaching listed Option for every 2 Shares ...at an issue price of $0.005 per Share to raise up to $4,894,864 (before costs). The Entitlement Offer closed on 25 October 2024, raising approximately $2,646,151.

On 24 January 2025 the Company advised it had placed 17,958,772 Shortfall Shares and 8,979,386 Options of the remaining 333,411,363 Shortfall Shares and 166,705,682 Options within three months after the Closing Date of the Offer being 25 January 2025

PDF
MEC remains in compliance with the Pooled Development Funds Act 1992. The Company is a registered Pooled Development Fund with an approved investment mandate allowing it to invest into small and medium sized exploration entities, both listed and unlisted, that are in, but not limited to, the energy and mineral resources sector. The Company aims to create returns to Shareholders greater than those available from traditional investments by giving Shareholders exposure to unlisted Australian exploration businesses in their early rapid growth stage.

Operational Update
MEC has a non-controlling interest in the unlisted energy explorer Advent Energy Ltd of 37.95%. As highlighted in the Company’s Entitlement Offer Prospectus, Company intends to seek out new opportunities within its PDF investment mandate.

Advent holds a range of energy-based opportunities via its investee company Advent. Via Advent the Company has been assessing new investment opportunities, where there are ever increasing obligations to provide energy solutions with a responsible management and protection against carbon emissions. The transition from hydrocarbons such as coal and oil to hydrogen, is now presenting real economies and growth globally. Although natural gas also presents continued growth and will play a role for many years to come, it too will need to become a source of energy with no CO2 emissions.
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.. and, good luck with that