# MXR - Maximus Resources



## Riesling (27 April 2007)

Maximus is a gold, uranium, nickel and copper explorer, with projects in SA, WA and NT.


Current market cap is approx $9m at 20c.     However total equity at 31 Dec was $23m

MXR owns 35% of ERO, which has a current market cap of approx $22m, plus they own 35% of the ERO tenement.  ERO now trading around 35c, an increase of 7-8c in the last 4 weeks alone, and looking at new highs.

Along with the ERO shares, MXR did a placement two week ago (10 April) to sophisticated investors which raised $1m. this should keep them going for another year (or two?).

At the moment, a little resistance at 21.5/22c however if it can get through that, the SP could go well.    I like it as it has upside not only from it's own projects from ERO.

Worth a look, DYOR etc, I hold.  Anyone with thoughts?

Cheers.


Projects from their website:

Narndee project (earning up to 70%):The project is located 500km north of Perth in WA and is prospective for uranium, nickel, copper, PGE and gold. Project is a JV with Apex Minerals. Maximus can earn 70% equity by spending $3m on exploration in 6 years. Previous exploration intersected 8m @ 0.5% Ni and 0.13% Cu. Windimurra prospect is prospective for uranium. Previous exploration intersected 2.1m @ 0.43kg/t U3O8. Exploration programme includes follow-up drilling of known mineralisation and reconnaissance testing of new targets, based on recent high resolution airborne radiometric survey. 

Bird-in-hand gold mine (79%):The project is located near Woodside in the Adelaide Hills, SA and is prospective for gold. The project, located on a site of an old gold mine, targets undeveloped mineralisation occurring below the previously mined levels. Recent exploration intersected 5m @ 12.3g/t Au from 143m and 13m @ 7.9g/t au from 171m. Maximus intends to undertake further exploratory drilling to estimate remaining gold potential. 

Johnnies Reward:The project is located 100km N-E of Alice Springs in the 
Northern Territory and is prospective for copper and gold. Exploratory drilling intersected 50m @ 1.83g/t Au and 21m @ 0.31% Cu. Maximus is planning to undertake ground EM and gravimetric geophysics, followed up by exploratory drilling, targeting better understanding of the mineralised zones with the project tenements. 

Billa Kalina project:The project is located 70km N-NW of Olympic Dam mine in the Gawler Craton in SA and is prospective for uranium, copper and gold. Maximus plans to undertake ground magnetic and gravimetric measurements to detail the project’s gravity anomaly, followed up by exploratory drill testing of the targets. 

Yandal project (90%):The project is located 750 N-E of Perth in the Yandal Craton in WA and is prospective for gold. Exploration to date identified five zones of known mineralisation with best intersect of 10m @ 5.25g/t Au. Exploration planned includes drill testing of targets, generated through study of existing aeromagnetic and geochemistry data.


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## wotthe (22 May 2007)

MXR has just issued  trading halt pending ann. Not sure if any results are due ... anyone have any ideas? Any talk of takeovers?


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## stoxclimber (6 June 2007)

With the recent pullmark in MXR the MXR/ERO arbitrage is almost on again - MXRs fully diluted market cap is 27.3mm, its ERO shares are 22.6m and its cash is 700k - leaves just 4m of value in MXR for its projects (including its 30% JV with Eromanga..which has a 60mm+ market cap)


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## sting (29 June 2007)

on its way up after the ann..I was lucky an caught the ann as it came out ..brought in at 41..... now heading towards 50 

go u good thing

SEMPER UBI SUB UBI


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## sting (9 July 2007)

Spoke to soon before and jinxed myself... but all is still good about this mob

JORC inferred 421,000 tonnes @12 g per tonne gold
giving 162,000 ounces gold

also uranium drill results 0.48kg of U3O8 per tonne as well as vanadium

this is a good takeover target for the gold alone with a market cap of only $23 million easy pickings


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## krisbarry (28 September 2007)

Have a listen to this

http://www.brr.com.au/event/MXR/1811/32301/wmp/d5ppb2nbo6

Presentation just given says potential for 1 Billion Tonnes at a combined 66% grade magnetite.

At the moment 200 mt @ 30 to 40 meters with drilling to start soon, with the potential to be upgraded to 1 billion tonnes.

That is pretty impressive being very close to the surface.


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## doctorj (28 September 2007)

Stop_the_clock said:


> Presentation just given says potential for 1 Billion Tonnes at a combined 66% grade magnetite.
> 
> At the moment 200 mt @ 30 to 40 meters with drilling to start soon, with the potential to be upgraded to 1 billion tonnes.



That's quite a leap from 200mt at the moment to that 1 billion - how much drilling do they have going on/planned?

Seems a little like pie in the sky stuff for me...


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## juw177 (28 September 2007)

There is some idiotic ramping happening at HC for this stock and since this is a tightly held stock, a few newbies at HC can have an effect on the price. So I wait and watch.


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## juw177 (28 September 2007)

Oh wait. The idiotic ramping on HC is actually Kris, so he is on here too. Great. Let's see how this one retraces.


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## krisbarry (28 September 2007)

Well you could always blame the director for ramping hey!

If you listen to the CEO or Boardroom radio he claims to have up to 1 billion tonnes.

Don't shoot the messenger!

I regret selling FMG at 58 cents and have learnt my lesson, this one I am holding for the long-term.

And if proven 1 billion tonnes of iron ore, then watch the chinese scramble all over this one!


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## juw177 (28 September 2007)

Stop_the_clock said:


> Well you could always blame the director for ramping hey!
> 
> If you listen to the CEO or Boardroom radio he claims to have up to 1 billion tonnes.
> 
> ...




Hey, just keep this stuff at HC will you? Besides the CEO saying they find iron ore, how is this like FMG? And what does chinese have anything to do with it at this stage?


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## krisbarry (2 October 2007)

Here is a recent article featured in Minebox

*MXR - Maximus focuses on WA’s Mid-West iron ore province*

Adelaide-based multi-commodity explorer, Maximus Resources has announced a new focus on Western Australia’s booming Mid-West iron ore province.

Maximus, which earlier this year gained 90 to 100 percent control of the extensive 5,500sqkm Narndee-Windimurra tenement package in WA, has outlined an immediate focus on two magnetic anomalies, each about 18km long, in WA’s Mid-West region.

The company’s Managing Director, Dr Kevin Wills said Maximus planned to investigate the iron, vanadium and titanium potential of the Windimurra layered mafic complex.

“As part of our investigations of the various mineral occurrences within the Narndee-Windimurra tenements, we recognised the potential for significant quantities of coarse grained magnetite,” Dr Wills said.

“Separation of such coarse grained magnetite has been shown to be a low cost method of producing a magnetite concentrate. 

“Based on mineral indications from site to date, Maximus will now estimate the iron, titanium and vanadium potential of the project,” he said.

Maximus’ initial iron ore work programs will focus on the 18km-long Canegrass magnetic anomaly and part of the 35km-long Shephards Zone, the northern portion of which hosts Precious Metals Australia’s Windimurra vanadium deposit.

Maximus has collected 335 surface rock-chip samples from the Canegrass and Shephards prospects, which returned analytical values averaging 52 percent iron, 13 percent titanium dioxide and 1.2 percent vanadium pentoxide.

Maximus has estimated that the combined target potential at the Canegrass and Shephards prospects could amount to 160 to 200 million tonnes of magnetite rock to a vertical depth of only 30 to 40 metres.

Source: 

http://www.minebox.com/story.asp?articleId=10146


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## krisbarry (3 October 2007)

Looks like the retrace is over for MXR and is now ready for its next leg up. 

There has been much talk of Iron ore prices rising between 30 to 50% in 2008 so this might help the share price on MXR.


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## dj_420 (3 October 2007)

is stop the clock actually krissbarry on hot copper?

the posts seem remarkably similar, lol

i was going to have a look at this one, seems like it could have potential, retracing at the moment


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## krisbarry (5 October 2007)

Bird in the Hand Gold results:

Announcement just out 410,000 tonnes of gold at 12 grams of gold per tonne...very impressive.

Share price now at 27 cents


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## rub92me (5 October 2007)

Stop_the_clock said:


> Bird in the Hand Gold results:
> 
> Announcement just out 410,000 tonnes of gold at 12 grams of gold per tonne...very impressive.
> 
> Share price now at 27 cents



That wasn't the 'news', Stop_the_clock. The inferred resource and grades were already known. The news was that they have completed an initial mining scoping study, which was quite limited. Looking promising though, I'll give you that


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## krisbarry (5 October 2007)

MXR was trading at 47 cents before the sub-prime mess. Since that time MXR now has an Iron ore project and a completed inital mining study.  Its about time real value was placed back into the market


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## krisbarry (5 October 2007)

Scoping study boosts Maximus 

Friday, 5 October 2007

MAXIMUS Resources says a mining scoping study at its Bird-In-Hand gold project confirms viability for decline access mining at the project, with the company's share price gaining 16% on the back of the news.

The company said mining consultant Maptek was commissioned to investigate the viability of mining techniques on a conceptual orebody similar to the currently defined Bird-in-Hand inferred gold resource of 410,000 tonnes at 12 grams gold per tonne.

"Six underground mining techniques were considered with varying stope widths from 1 to 8 metres, and stope lengths from 25 metres upwards," the company said.

Maxiums said the study was restricted to the larger and more continuous Main Reef.

"The study indicated that a spiral decline accessing the east dipping mineralised lodes from the footwall (western) side could extract the Main Reef," Maximus said. 

"The two most suitable mining methods were using uphole benching and the Avoca method (uphole benching with tight fill)." 

Maximus said the scoping study did not consider other important aspects of viability such as costs of dewatering the mine or construction and operation of a gold processing plant. 

"Each of these topics will be the subject of further conceptual level investigations during the December Quarter," the company said.

"Given recent drill intersections it is likely that a resource of sufficient magnitude to consider a development will be delineated."

Maximus is continuing core drilling and a further eight holes have been planned to test the lateral extent and down dip potential of gold mineralisation. 

Assay results for recently drilled holes are expected soon and the results are anticipated to increase the total inferred resource towards the level required to begin a pre-feasibility study at Bird-in-Hand early in 2008.

Shares in Maximus have gained 4c to 29.5c.


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## krisbarry (7 October 2007)

I seem to like this summary:

MXR has been on a steady downtrend since July this year, and has not really shown any signs of recovery - until the last week. 

The attached chart shows a flag trade for the short term trader (yes, D, I know it isn't a weekly flag trade or one that suits the longer term trader).

There are a few things of note in this chart. Firstly, the rapid rise of the price after a stable downtrend. Secondly, a steady retracement of the price that fits into an angled channel or flag. And as of yesterday, a close above the top flag line. This is the buy signal.

To add some confidence to this trade, there is a crossover of the 10 and 30 day EMA's, and the turning of the long term GMMA (the blue group of lines in the graph). Also, the short term downtrend line has been broken (not shown on the attached chart).

For a longer term uptrend to be confirmed, a compression and re-expansion of the blue long term GMMA's is needed. However, MXR provides a good opportunity for a short term trade over the next 2 weeks. Sell out on weakness.

Note: This trade is not for everyone - only aggressive short term traders should consider a buy on Monday. More conservative longer term traders should wait for more signals to emerge.


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## buy and hold boy (7 October 2007)

I have been looking at MXR and I would consider buying around the 20c mark.    My main concern with this stock is why they have taken so long to get the bird in the hand (BIH) 2PP.  From first drilling almost 2 years ago we still have to wait until next year before the company will undertake a feasibility study to see if the ore is economic!  Strongly suggests to me that their targeted 250,000 oz aren't going to be forthcoming and BIH isn't economic.  On this basis they would need to raise further capital and the market would look at them more sceptically after failing on their first target.


Ultimately it will be billa kalina or narndee that could make MXR a worthwhile investment, I dont hold too much store in BIH.


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## krisbarry (7 October 2007)

buy and hold boy said:


> I have been looking at MXR and I would consider buying around the 20c mark.   .




Just checking if this is a downramp?

Doubt very much it will get back to these levels (20 cents) after the last two announcements, with more gold results on thier way and the commencement of drilling in WA for Iron ore to start within weeks.

If anything I see MXR opening much stronger On Monday and the charts prove me right technically and the fundamentals are right for an increase in share price, not a decrease.


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## krisbarry (7 October 2007)

Look at the 1 month chart, you will notice the spike in share price, then a consolidation and now the next leg up has started.

Also notice the MACD line, its now into positive territory and looking very strong - Very bullish is you ask me.


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## buy and hold boy (8 October 2007)

I have been researching maximus very thoroughly and I have changed my mind about its valuation.  I now think it is worth over 50c just based on current resources and will get to this level once it announces gold reserves at BIH over 250,000 oz.  This rerating could happen VERY SOON as the billa kalina photos are due back by the end of the week.  In light of this I don't think those interested can afford to wait for the stock to fall to 20c as an announcement could see it fly - just like IRM did today!


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## juw177 (8 October 2007)

Stop_the_clock said:


> Look at the 1 month chart, you will notice the spike in share price, then a consolidation and now the next leg up has started.
> 
> Also notice the MACD line, its now into positive territory and looking very strong - Very bullish is you ask me.




Come on now, that was no analysis, of course the MACD is going to look bullish, it just had a breakout.

But there are better breakouts to trade out there if you are looking technicals. The spike in share price ended in heavy selling off above 30c. And the consolidation looks like it has a bit more sideways movement to go considering the high selling volume.

And I would like to hear what you think about how this compares to FMG.


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## krisbarry (8 October 2007)

Geee you did change your mind very quickly...I hope you got your order filled today

Just 3 weeks to go till drilling starts in WA, for Iron Ore.

I traded a few times today on IRM (Iron Ore stock), and looking at MXR this has so much potential to fire up if/when good resources are discovered.


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## dj_420 (8 October 2007)

I am sick of hearing this stock been compared to FMG, krisbarry / stop the lock they have not even got drill results back FFS!

Have you recently been employed as MXR public relations spruiking boy? I'll read some detailed analysis but not the constant comparison with FMG.


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## krisbarry (10 October 2007)

Further Encouragement for Windimurra Uranium Prospect

Check todays announcement, quite a large find of Uranium with good grades and close to surface too

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00768207


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## robandcoll (13 October 2007)

Announcement out Friday:

Drilling at Canegrass and Shepards to commence in October, then PMA announce the MXR announcement.

If the vanadium and iron ore is a continuation from the PMA site then its looking very promising given PMA released an announcement on the 9th October of the 10 year contract with Precious Metals.


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## yuyry002 (18 October 2007)

Ann just out. 
Sample TT088 from the Sellheim alluvial gold project in north Queensland returned 94.3 • grams of gold at a grade of 18.7 grams/lcm

and they are expecting resource estimate next month.


http://www.asx.com.au/asxpdf/20071018/pdf/31560b4p6q49qx.pdf


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## debaron (18 October 2007)

More good news to come I reckon. Will hold on.
Who else is holding or selling for quick profit today?


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## ALFguy (18 October 2007)

debaron said:


> More good news to come I reckon. Will hold on.
> Who else is holding or selling for quick profit today?




Still holding from 18c

Certainly won't be selling anytime soon. Was more than happy with the Iron ore prospects but now with todays announcement, I'm sure this will go considerably higher.

Particularly liked this part of the ann:



> Maximus’ experienced plant operator who has worked extensively on many alluvial goldfields in New Zealand (NZ) and South America commented by email, “As you know, I have worked in many alluvial mines, including one of the richest rivers in the world, the Shotover (NZ) – I have never seen so much gold in one 5 cubic metre sample”.




However, I'm very surprised this hasn't run harder. But then there's still a few hours to go


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## benwex (19 October 2007)

ALFguy said:


> Still holding from 18c
> 
> Certainly won't be selling anytime soon. Was more than happy with the Iron ore prospects but now with todays announcement, I'm sure this will go considerably higher.
> 
> ...




A trading halt for MXR this morning...

Any ideas???

Listening to their MD on board room radio there is alot of opportunities for there gold and iron ore plays.


benwex


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## yuyry002 (19 October 2007)

benwex said:


> A trading halt for MXR this morning...
> 
> Any ideas???
> 
> ...


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## ALFguy (19 October 2007)

benwex said:


> A trading halt for MXR this morning...
> 
> Any ideas???
> 
> ...




Could be Bird in Hand assays but more likely a cap raising. They failed to raise enough last time so no doubt they will need more funds.


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## countryboy (19 October 2007)

fundraising on the cards.hope they don't kill this like western metals did with an over supply of shares. Expect a retrace to around what they set the price at. the least they could do is open this up to us wee punters !


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## benwex (20 October 2007)

Quickly had a look to see what their latest cash reserves...

In their latest yearly financials, June 2007, they had: 

cash or cash equivalent of $13m
Net total assets of $24m

and only $600k of liabilities.

I would be really surprised if they are going to be looking for a capital raising right now with such a strong balance sheet and an agressive exploration which seems to be funded.

Out of the directors report......

"The net assets of the group have increased by $16,009,074 during the financial year from $8,123,591 at 30 June 2006 to $24,132,665 at 30 June 2007. This increase has largely resulted from the proceeds from share issues raising $907,195 and the listing of Eromanga Uranium Ltd. The Company has been actively undertaking exploration activities and has capitalised $6,987,454 in exploration expenditure during the current financial year.
The directors believe the Company is in a strong and stable financial position to continue its exploration activities"


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## ongchuan (20 October 2007)

Agree...I dun think it is the capital raising. More likely is significant grade of gold in BIH. Kevin Will mentioned about they are still waiting for the assay in 3 holes in the BIH project. The results is sort of overdue and i guess they will release it very very soon. Probably the three holes have significant gold deposition! Better hope it is....Monday gonna be a nasty day anyway....


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## countryboy (21 October 2007)

not going to be a good day to announce monday ...i would wait untill late afternoon 4.59 pm before releasing the information. still could mean that mxr tread water on this announcement


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## yuyry002 (23 October 2007)

why would they raise 9.48mill  of 47.4mil shares at 20cents,why not 30mil shares at 30cents?

i just donot get it.

any thoughs out there?


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## ALFguy (23 October 2007)

yuyry002 said:


> why would they raise 9.48mill  of 47.4mil shares at 20cents,why not 30mil shares at 30cents?
> 
> i just donot get it.
> 
> any thoughs out there?




They'll more likely be taken up and get the cash they need this way. Bit of a kick  in the face for existing holders though. Not very gentlemanly. I'll be writing to let them know as such.

On the upside, if they pull this off, they'll have enough to progress their projects which longterm is a good thing.

Note >  Bird in hand results due out anytime now. They're expecting a resource increase which may turn things around. Then there's the iron ore in around a months time.


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## smallfry (23 October 2007)

As a newbie I am a bit unsure about the options stuff?   How does this work in "plain english"?  

Appreciate any info.

Cheers


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## yuyry002 (19 November 2007)

does anyone know if they have started Canegrass and Shephards Drilling yet?according their ann on 12/10,they should be drilling but there is no ann out about it .send an email to the company last week and no reply yet.


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## hypnotic (10 January 2008)

News today on MXR giving out 1 options for every 5 shared held. Ex date is on 31st Jan. 

The options are exercisable at 20cents.. We have seen the price reacted a bit today up 8%.

Been on a down trend since OCT 07, not looking too good, anyone holding this still??


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## sting (11 January 2008)

I still hold altho this has to be my current worst producing stock..I brought in at an av of 40 cents. I still have hope for this mob with assets like sellheim and bird in hand as well as windimurra they have an excellent chance of making money further down the track. 

Altho this and my holdings in DGR are the red thorns in my portfolio I have every confidence that eventually they will turn out profitable

SEMPER UBI SUB UBI


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## YOUNG_TRADER (4 March 2008)

Hi guys,

MXR have just announced a thick gold intersection at its Flag ship Bird-in-Hand gold project,

The hit was *10m's at 15g/t Au*, the current *JORC there is 42Kt's@12g/t = 162Koz's*

This new hit along with lots of other drilling makes the comany confident the next JORC will be around the 250k oz level which is the requirement they set for a stand alone operation, 

The hit itself is very significant as it has effectively increased the gold resource by 65% and may even increase the head grade to 13-14g/t Au which is very high given most operations are 2g/t Au

Another thing amazing about MXR is the fact that its cash and listed investments in other companies = 12c ie its *NTA = 12c* which menas there is very little upside built into this 3 project gold, 1 project uranium and 1 project ferrovanadium company

I see alot of upside and little risk at the 15c level

Cheers


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## noirua (4 March 2008)

Maximus Resources MD, Mr Kevin Wills, on Boardroom Radio discusses the Adelaide Hills Project intersection of Thick High Grade Gold Lode:  http://www.brr.com.au/event/42638

Companies website:  http://www.maximusresources.com


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## YOUNG_TRADER (6 March 2008)

With gold nearing $1000/oz MXR will make a killing off its Sellhiem project with a JORC due any day now

If you read the ann's and look at the presentations Sellhiem is an Aluvial gold deposit, this being the case the *CAP EX will only be $2m*

Thats not a typo, the CAP EX for a stand alone operation at Sellhiem will be $2m 

I couldn't believe this figue so I called the company and they explained to me how Alluvial deposits work etc etc

Now thats 1 gold project

The other is bird in hand where as i said the current *JORC should increase from 150k oz's - 250k oz's* (based on recent drilling) but the important part is the bonaza grade, its *12g/t*

These two projects alone make MXR seemed undervalued let alone the other host of projects they have

But here's the best bit

Shares
145m 
30m 20c 30/6/08 MXRO options
30 20c 30/6/09 MXROA options

Cash $10m + $8m holding in ERO
As well as this MXR are carried for $18m in exlploration by JV's


Cash + ERO backing @12.5c = $18m NTA


*So MXR's NTA is 12c*  which means that at 15c your paying 3cfor a 3gold 1 uranium 1 ferrovanadium + a host of other projects, 2 of its gold projects are near term producers, 

I see alot of upside from these levels and little risk


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## Gekko (6 March 2008)

YOUNG_TRADER said:


> With gold nearing $1000/oz MXR will make a killing off its Sellhiem project with a JORC due any day now
> 
> If you read the ann's and look at the presentations Sellhiem is an Aluvial gold deposit, this being the case the *CAP EX will only be $2m*
> 
> ...




YT that cant be correct. $2millon is nothing. Are you sure. Im going to give the company a call cause if thats true it makes no sense all other gold companys i look at have capex's of $30mn, $40mn or $50m.
How is this one so cheap?


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## peric1 (6 March 2008)

so what exactly are we saying here about this stock young trader? im not exactly clear on what you are saying, im a new trader and have only been in the market for about 8 months now

from my understanding, there is a lot of upside to this stock potentially?
cheers


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## YOUNG_TRADER (6 March 2008)

Hmmmm Gekko like I said call the company if you don't believe it, its also in one of the MD's audio broadcasts

Perci I'm saying that the company is a definate takeover target by one of the BIG 4, ie either McDonalds, Hungry Jacks, Red Rooster or KFC, there are rumours flying around that it may alos be on Nando's and Subways radar :

lol mate surely you can see what I'm saying, I mean it was pretty clear


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## YOUNG_TRADER (6 March 2008)

*MXR*​
*
Mkt Structure*
*
Shares*
145m 
30m 20c 30/6/08 MXRO options
30 20c 30/6/09 MXROA options

* Cash $10m * + $8m holding in ERO
As well as this MXR are carried for $18m in exlploration by JV's


Cash + ERO backing @12.5c = $18m NTA
Mkt Cap @15c = $22m Current
Target cash + project + asset value of 35c = $50m 



*
Projects**
Bird-in-Hand**  Gold, 100%, South Australia *

*JORC 421kt's@12g/t Au = 162koz's Au* thats very high grade AAR type gold = high profit margins and toll treatable, they are looking at development options

B-I-H is part of a bigger area know as Adelaide hills where MXR have outline multiple prospective deposits, for example Deloraine has had 20g/t Au hits

Recent drilling has indicated that there is much more gold, with the company indicating an new JORC of 200koz's to 250k'oz's

*@ $50/oz Au EV current JORC 162koz's = $8m*
*@ $50/oz Au EV JORC 200-250koz's = $10m-$12.5m*




*
Yandal  Gold, 90%, W.A. *

*JORC 1.1Mt's@1.7g/t Au = 60koz's Au*

Somewhat stranded resource and low grade so say *EV of $15/oz = $1m*




*Selllheim  Gold, 100%, Qld *

No JORC yet, have been waiting for an appropriately qualified Geo to sign off on it given its an "ALLEUVIAL" deposit

Company estimates producing 15k-20k oz's Au p.a. @ $200 AUD oz cash cost, using a $1000 AUD spot = margins of $800oz = *$12m - $16m PROFIT p.a.*

Now even if they achieve say 1/3rd of this ie $5m Profit p.a. it shos just how much of a cash cow Sellhiem can be and the *CAP EX will only be $2m*

*They expect to be producing by July!*




* Windimurra   Uranium, 100%, W.A. *

*JORC 19Mt's@0.018% U = 7.5Mlbs U* all from surface to 6m's deep, very very shallow!

Now a usual EV would be $10lb U, but given U sentiment and the fact its W.A. I would say $2lb is more appropriate


*@ $2 lb EV = $15m *




* Nardee- Canegrass/Shepards  Ferrovandium + titanium, 100%, W.A. *

*PMA now WVL * is operating the Windimurra FerroVandium operation only 20kms away, its JORC is 150Mt's so any additional FerroVandium found by MXR could act as Feeder Ore for WVL's operation or if large enough may make MXR a takeover target JV etc etc

*The company's target here is 160Mt's - 200Mt's @ 50%Fe + 12.5% TiO2 + 1.2% V2O5*

Such a target if JORC's would be worth $500m + SO THIS IS THE REAL PROJECT TO WATCH

Intial first pass driling (which was cut short due to WVL demanding the rig) hit 5m, 8m and 16m's @ 38%-44%Fe + 0.5%-1.21%V2O5

*They expect a JORC here by OCT*



* JV projects   Olympic Dam type IOCG, 25%-50%, S.A. *

Bunch of JV's with MEP, ERO, CRJ, NUP, FDL





*
Summary*
*- Cash $10m + ERO $8m = $18m = 12.5c

So at 15c your paying 2.5c for the following value
- BIH and Yandal worth $9m on EV = 6c but based on increased JORC now expected could be $11m - $13.5m = 7.5c-9c
- Sellhiem worth at least $10m given production profile = 7c
- Windimurra U worth $15m = 10c based on really low $2lb EV
- Total Asset and porject value = 35c vs current SP 15c
- Narndee offers huge upside given existing operation ie no Cap Ex etc etc 
- $18m worth of free carried exploration by JV's on many different projects covering many commodities
*

Thoughts? Comments?


----------



## fgzq88 (6 March 2008)

Cash and some projects look good to me.

Just one question about Selllheim Gold.

If no JORC yet, where those figures coming from? Have they done anything on this project yet?  If not, those figures just no sense


----------



## JTLP (7 March 2008)

The Vannadium project looks like the money maker...i agree YT.

Much better grades than WVL, and they have the ability to produce a nice JORC along with some decent grades.

When the gold production gets into full swing, the company should get re-rated. One question, wasn't this put off last year? From my understanding it was to go ahead at the end of last year?

Also YT, do you hold? Or giving your indepth analysis for the good of mankind :

JTLP


----------



## YOUNG_TRADER (7 March 2008)

Hi fqzq88 (strange nick btw)

MXR has a very strong geological and technical team and as such completed an internal JORC (by their GEO's) Late last year,

However for certainty the company wants an independent 3rd party Geo to sign off on the JORC as it is an Alluvial gold deposit, now I'm no GEO but from speaking with the company Alluvial gold deposits are very uncommon and as such there are few Geo's qualified enough to sign off on such a JORC, hence the delay,

However every figure I have used for Sellheim is based on company asx ann's, moreover I encourage you to listen to the following Board Room radio presentations where the MD talks about Sellheim at *3.40 the MD says cleary and unequivically that the CAP EX is $1.5m-$2* (So Gekko have a listen mate

http://www.brr.com.au/event/40554

p.s. Yes JTLP I hold, bought some over the last couple week and a bit but the ann earlier in the week re BIH JORC increase and Sellhiem JORC due any day now forced me to act and get my full holding, now I'll sit and wait for the company to be re-rated


----------



## kpas (7 March 2008)

Just curious if anyone has contacted the company asking about the overdue results announcement?

Plus some characters


----------



## YOUNG_TRADER (7 March 2008)

Hey Kpas,

Mate give em a call if can, as Sellhiem will be a real re-rating event imo, these mkts are farked but surely with 12.5c of NTA, a U JORC and then 3 GOLD JORCs (2 with a near term production profile) and All the Ferrovanadium grounds around WVL, MXR will be worth more than 15c


*Selllheim  Gold, 100%, Qld *

No JORC yet, have been waiting for an appropriately qualified Geo to sign off on it given its an "ALLEUVIAL" deposit

Company estimates producing 15k-20k oz's Au p.a. @ $200 AUD oz cash cost, using a $1000 AUD spot = margins of $800oz = *$12m - $16m PROFIT p.a.*

Now even if they achieve say 1/3rd of this ie $5m Profit p.a. it shos just how much of a cash cow Sellhiem can be and the *CAP EX will only be $2m*

*They expect to be producing by July!*


----------



## Gekko (7 March 2008)

kpas said:


> Just curious if anyone has contacted the company asking about the overdue results announcement?
> 
> Plus some characters




I tried to call the company about Sellhiem but got an answering machine, I did listen to the Board Room Presentation and your right YT he does say $1.5m - $2m cap ex. Dont know if this can be correct though, it is so small? I gather the JORC will confirm it. Right????


----------



## YOUNG_TRADER (7 March 2008)

Gekko said:


> I did listen to the Board Room Presentation and your right YT he does say $1.5m - $2m cap ex. Dont know if this can be correct though, it is so small? I gather the JORC will confirm it. Right????




lol what more do you want mate?

I mean you heard him say it yourself, $1.5m - $2m cap ex,

Like I said I couldn't understand it either so I called the company, they then explained to me the Alluvial gold deposits are very different in nature in that the gold is contained in very loose soil that need only be dug up and sorted to find the gold, there is little if any in terms of crushing or chemiclas etc etc

The gold is nuggety and gets caught while the loose dirt falls through a sieve like machine, hence the very low Cap Ex and equally low Op Ex, apparantly you only need one person to operate it as well,

Gold is nearing $1000oz so MXR are coming in at the right time if they can get Sellhiem going


----------



## benwex (7 March 2008)

YOUNG_TRADER said:


> lol what more do you want mate?
> 
> I mean you heard him say it yourself, $1.5m - $2m cap ex,
> 
> ...




The question is are you putting your money where you mouth is????

I am a MXR holder, to be honest I have been somewhat disappointed with the management. They dont seem to have clear strategy nor a company making asset, rather spreading themselves too thin across several prospects..

benwex

PS:MXR is sitting on alot of cash which should be deployed to accelerate projects.


----------



## Sean K (7 March 2008)

benwex said:


> The question is are you putting your money where you mouth is????



benwax, no one needs to do that here. This forum is about discussion and analysis, not dick comparisons, which are impossible to substantiate over the net without a webcam. It's very easy for members to say 'I've bought 1m of this, or that' with no analysis. Far harder to actually spend some time doing some detailed research and pasting it up for everyone to evaluate and learn from. 

(note: If you'd read the past few posts you would have seen that YT has already said that he owns)


----------



## fgzq88 (7 March 2008)

Thanks Y_T for answering my question.
looks like I'm not able to buy it at 15c even in today's tumble market.

btw, it's just a user_id, not my nick~


----------



## ta2693 (7 March 2008)

1.4m trading vol today. 
Not too bad day for mxr, if it can end up in 16.5c. then it may have a run in the following week. let us see how it will perform in the last 30mins trading hour.


----------



## impala_group (7 March 2008)

kennas said:


> benwax, no one needs to do that here. This forum is about discussion and analysis, not dick comparisons, which are impossible to substantiate over the net without a webcam.




Good on you Kennas!!! I think this forum should be for what its meant for.

Recently bought in (MXR) and i must say YT has given me a much clear picture with the detailed analysis he's done. 

I think he is right on the money...


----------



## lampard (7 March 2008)

So YT can you tell me why the CAPEX is so small? Are the figures correct??

Lol - Joking mate.

Got in today also, agree with your sentiments about re-rating.


----------



## YOUNG_TRADER (8 March 2008)

lampard said:


> So YT can you tell me why the CAPEX is so small? Are the figures correct??
> 
> Lol - Joking mate.
> 
> Got in today also, agree with your sentiments about re-rating.




lol Lampard was about to roll my eyes and think fark not another idiot, but then read on, yeah some people huh? 

Glad your not one of them,

Hey fqzq88, nick/user id thats what I meant, its an interesting choiuce of letters and numbers nevertheless


Getting back to MXR, its performance was very veyr strong today considering how down the mkts were,

I wonder if all the buying was ASF? I doubt it, but one thing that had me scratching my head was the amount of cross trades that went through today, like 4 out of very 5 orders were cross trades and most were 50k buys, anyone else see that?


----------



## ongchuan (8 March 2008)

Yeah YT. I saw that cross trade thingy. Sorry to ask u, wat is the significance of a cross trade? Is it just the trade between different brokers or does it mean sth else??


----------



## YOUNG_TRADER (8 March 2008)

ongchuan said:


> Yeah YT. I saw that cross trade thingy. Sorry to ask u, wat is the significance of a cross trade? Is it just the trade between different brokers or does it mean sth else??




Hey Ong, 

Cross trade means its a trade occuring within the same broker, its very very rare to see so many, I have never seen it before,

I don't what it means, or what to make of it, but its strange nevertheless,

I know Patersons underwrote and took a large placement at 20c to certain clients, perhaps they are selling these shares to toher clients withing Pato's, who knows?


----------



## Captain_Chaza (8 March 2008)

I trade with Commsec and have noticed that my own trades carry the XT Label

I just always assumed it was crossed by another Commsec client?

BTW 50k XT are not large what I would call Large trades when x 0.16 cents

Salute and Gods' speed


----------



## YOUNG_TRADER (9 March 2008)

Hey Captain Chaza, 

Yeah agree completely regarding the fact that they're smallish orders ie $8k (50k@16c) but I was talking to someone else about and he made a very interesting point saying sometimes brokers will buy for clients who have a real diversified portfolio of stocks that that broker is pushing say $10k or less of a share if something is coming up, maybe but this is just all speculation

I was taking a close look at MXR's Canegrass/Shepards projects as to me these are the long term money huge re-rating projects, as a resource of 100Mt-200Mt will be worth $100m - $200m to MXR as it would be in high demand from WVL,

Eith that in mind I've gotten some extracts from MXR's ann's just focusing on Cangegrass/Shepards,

Whats amazing is how much land MXR controls around WVL, it really is astonishing


----------



## Gekko (9 March 2008)

Narndee does look very prospective and may hold some serious long term value but with gold at record levels its Sellhiem that interests me most.

If as the company says the project can be brought into production so easily and gold produced so cheap at a cost of $200/oz this will be a big earner for the company.

I think that the Sellhiem JORC which you've said is overdue could be a real milestone for the company.

I got this from another forum where a member has done some figures to estimate the potential JORC at Sellhiem

_
Big Kev's "interesting picture" comment about Sellheim made me get out the ruler and calculator this morning....

Very possible that we could see a 300,000oz gold resource at Sellheim.... that would be huge.

Alluvial gold worth $300M at cash cost of $200oz, could easily bring in $200M+ profit.... plus the resource being open in all directions...

This would see a big re-rating IMHO.

To work out the 300,000oz here are some rough calcs.

3 seperate ore bodies with approx sizes of

800m x 800m = 640,000m2
500m x 500m = 250,000m2
500m x 400m = 200,000m2

Total Surface metres = 1,090,000m2

Given a 2g/t grade (highest grades at 14 g/t), depth of 3m, and a Tonne per m of 2.5, gives 15 grams gold per surface m2. Even knocking this back to 11grams (1/3 oz), gives us....

1,090,000 x 1/3oz = 360,000oz

Can't wait to see if I am near the ball park. Wouldn't be suprised to see a JORC of over 500,000oz IMHO..."​_


----------



## YOUNG_TRADER (10 March 2008)

Gekko,

I too am very bullish on Sellhiem, if you check my first couple of posts they were Sellhiem related,

I think the Sellhiem JORC will cause some interest and possible re-rating of the stock to more appropriate levels,

Below you can see my production/profit calcs

*Selllheim  Gold, 100%, Qld *

No JORC yet, have been waiting for an appropriately qualified Geo to sign off on it given its an "ALLEUVIAL" deposit

Company estimates producing 15k-20k oz's Au p.a. @ $200 AUD oz cash cost, using a $1000 AUD spot = margins of $800oz = *$12m - $16m PROFIT p.a.*

Now even if they achieve say 1/3rd of this ie $5m Profit p.a. it shos just how much of a cash cow Sellhiem can be and the *CAP EX will only be $2m*

*They expect to be producing by July!*[/QUOTE]

As for the potential size of Sellhiem, the below figures confuse me a litte

If we go with the assumptions of

Total Surface area = 1million metres squared
Depth = 3m
S.G. = 2.5

I get 7.5Mt's of dirt

Now using the 2g/t head grade I get

*7.5Mt's@2g/tAu = 535K oz's Gold*

If we use a head grade of 1g/t Au I still get

*7.5Mt's@1g/tAu = 270K oz's Gold*

Even this figure would be enough for 10years of production, but as the company expressed Sellhiem to be a short term Cash Cow I actually think such a large deposit is unlikely, I would be happy with a JORC of 150koz's as this would be enough for 5yrs+ of production


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## urgalzmine (10 March 2008)

Hey guys 

I am interested in the Bird-in-Hand  Gold more than  Selllheim.

Bird in hand looks to have better grade and looks to be more concentrated as per the announcement on the 4/3/08. Sellheim gold seems to be shallow and dispersed through a large area, which usually costs more?.

The nardee project may have a reserve of more than 200mt, but its magnetite, you cant use that for steel production. I think the only thing u can do with it is sell it off to Korea for coal. Does anyone know if they will get alot for it?

Anyhow this share with the reserves and projects looks to be better than NGF, which really has only one mine at Padington. Its sp is $.40

Whats your thoughts guys?


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## kpas (11 March 2008)

urgalzmine said:


> Hey guys
> 
> I am interested in the Bird-in-Hand  Gold more than  Selllheim.
> 
> ...




You can't look at share price as an indicator of it's worth.

I havn't look at NGF, but it's market capital (share price * number of shares on issue) is ~$130m

MXR is $24m, so yes MXR has a significantly lower market capital then this NGF you speak of. If NGF is comparable, then it does go further to say MXR is undervalued. (That said, I havn't look at anything other then it's market capital).

I am sorry but it really urks me when people compare companies by their share price.


----------



## YOUNG_TRADER (12 March 2008)

urgalzmine said:


> Hey guys
> 
> I am interested in the Bird-in-Hand  Gold more than  Selllheim.
> 
> Bird in hand looks to have better grade and looks to be more concentrated as per the announcement on the 4/3/08. Sellheim gold seems to be shallow and dispersed through a large area, which usually costs more?.




Mate have you read the research put forward?

For the last time Sellhiem is an ALLUVIAL deposit http://en.wikipedia.org/wiki/Alluvium

Alluvial deposits are very cheap to operate because they consist of large areas of LOOSE dirt, now within this loose dirt is the gold

See the company extract if you don't believe me re the Cost of extraction at Sellhiem



urgalzmine said:


> The nardee project may have a reserve of more than 200mt, but its magnetite, you cant use that for steel production. I think the only thing u can do with it is sell it off to Korea for coal. Does anyone know if they will get alot for it?




Mate again you haven't done much reading,

Firstly Magnetite Ore is a type of Iron Ore that can and is used for STEEL PRODUCTION, the only difference between Magnetite and Heamatite is that Magnetite requries BENEFICATION which can be quite costly both in terms of operating expenses and CAP EX

But at Narndee, MXR are targeting a FERROVANADIUM deposit, FERROVANADIUM IS USED FOR STEEL PRODUCTION,

Aurox is one of the leading Aussie FerroVanadium plays so take a look at them http://www.aurox.com.au/

Als MXR surround WVL's Winimurra Vanadium Operation, do some reading on that to get a proper idea of what Vanadium is 
http://www.pmal.com.au/about_windimurra.16.html
http://en.wikipedia.org/wiki/Vanadium


It annoys me when I and others go to the effort of posting info and people just don't bother reading it


----------



## urgalzmine (12 March 2008)

cheers YT, sorry, made a fool of myself, still learning the ropes...

I will do more extensive reading

:couch


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## YOUNG_TRADER (12 March 2008)

Hey Urgalz,

Thats fine mate, its jsut your questions where really more statments, always happy to help people to find the right info,

Anyway all that a side if you check you'll see I put up some rough calculations on what a production profile at Sellhiem could be worth to Maximus, and with gold close to $1000us/oz you can see why I'm so bullish on Sellhiem as its margins could be like 400% 

This is why I think the Sellhiem JORC if it is over say 100koz will be a cuase of a re-rating on MXR, depending on how large the resource will determine how large the re-rating


----------



## ideaforlife (12 March 2008)

Hey YT, 

Always enjoy reading your analysis. Care to share what you reckon would be the downside for this one, apart from the current market turmoil?


----------



## sting (12 March 2008)

Just been informed results for sellhelm will now be released after Easter and before the end of the month.

So a re rating will be a welcome Easter present

Pre production is still on track for commencement in the second qtr


SEMPER UBI SUB UBI


----------



## stock nub (12 March 2008)

sting who informed you of this?

Did you phone the company and talk to them or is this just a hunch?


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## JTLP (12 March 2008)

Jman, could you please help do a Craig David and Fill Me In on this issue I have...

Can you explain what Alluvial mining is and the effect it has on grades / as opposed to Deep Quartz Vein mining (i think its called)!

Hopefully your answer can help to clarify the costs to non-believers of the $2m capex


----------



## herbert (12 March 2008)

JTLP said:


> Jman, could you please help do a Craig David and Fill Me In on this issue I have...
> 
> Can you explain what Alluvial mining is and the effect it has on grades / as opposed to Deep Quartz Vein mining (i think its called)!
> 
> Hopefully your answer can help to clarify the costs to non-believers of the $2m capex




Alluvial mining is cheap because you just need some guys doing the digging and a plant that separates dirt from gold. 2m$ are more than sufficient to do that. So far results for Sellheim looked very good and when you consider that the adjacent gold tenements had gold in excess of 20M ounces you 'll realize that  Sellheim could be really huge.

Looking forward to the JORC.
Cheers


----------



## YOUNG_TRADER (13 March 2008)

sting said:


> Just been informed results for sellhelm will now be released after Easter and before the end of the month.
> 
> So a re rating will be a welcome Easter present
> 
> ...




So its a waiting game, well I've waited a bit so another week isn't that bad,

I might give the company a call to let em know, not impressed with the delays


----------



## sting (13 March 2008)

stock nub said:


> sting who informed you of this?
> 
> Did you phone the company and talk to them or is this just a hunch?




Nub ..Yes I rang the company and spoke to Gary Maddocks, The independant Auditor is currently on site finalising his report. It should be out after Easter and before the end of the month

YT the delay was due to the Auditor requesting various procedural testing be changed and retested 

SEMPER UBI SUB UBI


----------



## JTLP (14 March 2008)

JTLP said:


> Jman, could you please help do a Craig David and Fill Me In on this issue I have...
> 
> Can you explain what Alluvial mining is and the effect it has on grades / as opposed to Deep Quartz Vein mining (i think its called)!
> 
> Hopefully your answer can help to clarify the costs to non-believers of the $2m capex




JMan...you don't like Craig David? :::

No offense Herbert, just want to get Jman's view on it all...in particular my reference to grades of the gold due to its scattered nature???

JTLP


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## herbert (14 March 2008)

Half year accounts out! Interesting to see that their total current assets are worth 40M$ while their market cap is around 21 M$ ... Market has to wake up this one. 
Cheers


----------



## sydneysider (18 March 2008)

herbert said:


> Alluvial mining is cheap because you just need some guys doing the digging and a plant that separates dirt from gold. 2m$ are more than sufficient to do that. So far results for Sellheim looked very good and when you consider that the adjacent gold tenements had gold in excess of 20M ounces you 'll realize that  Sellheim could be really huge.
> 
> Looking forward to the JORC.
> Cheers




Where did u get the info about 20M ounces from?? this would be one of Australia's largets gold deposits???


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## herbert (18 March 2008)

Take a look at their presentation. 
There were/are a lot of gold resources in the surrounding area which got a total reserve of 20M ounces of gold. Sellheim is an alluvial gold field and the test pits turned out to produce a lot of gold nuggets ( lots of high grade stuff). 
Considering that the area is pretty rich of gold, Sellheim might turn out to be quite a big cash cow for MXR. Especially at a cash cost of 200$/ounce and a capex of only 2m$.

Cheers


----------



## YOUNG_TRADER (19 March 2008)

herbert said:


> Considering that the area is pretty rich of gold, Sellheim might turn out to be quite a big cash cow for MXR. Especially at a cash cost of 200$/ounce and a capex of only 2m$.
> 
> Cheers




CAPEX of only $2M??????? Are you sure????????? : lol,

sorry couldn't help myself 

MXR has held up very very strong indeed during these trying mkts and why not, per their own annual report they verify my *NTA which is around 13c a share*

In these mkts you want stocks trading as close to NTA as possible, with little to no upside priced in for success at any of its exploration projects,

This is certainly the case with MXR


----------



## herbert (19 March 2008)

hi youngtrader,
it's unbelievable that you get all their great assets for free. Only cash and cash equivalents are taken into account currently.

So that means, you get the WVL land holding incl. the Vanadium potential, 160.000 ounces  of gold inferred at Bird in Hand, the upside of the Sellheim gold resource, 7.5m lb U3O8 inferred at Windimurra ( just a matter of mining policy to change in order to realize the 750m $ in-ground value) and all its ERO JV's and assets FOR FREE.

Conclusion: Either the market is stupid or I am missing something but this is more than obviously a bargain at current prices.


----------



## YOUNG_TRADER (25 March 2008)

herbert said:


> hi youngtrader,
> it's unbelievable that you get all their great assets for free. Only cash and cash equivalents are taken into account currently.
> 
> So that means, you get the WVL land holding incl. the Vanadium potential, 160.000 ounces  of gold inferred at Bird in Hand, the upside of the Sellheim gold resource, 7.5m lb U3O8 inferred at Windimurra ( just a matter of mining policy to change in order to realize the 750m $ in-ground value) and all its ERO JV's and assets FOR FREE.
> ...




Hey herbert, the mkt can stay irrational for longer than we can stay solvent it is said, but given that Sellhiem JORC (the real "cash cow") is due this week it shouldn't be too long that it stays so ridiculously undervalued,

I mean once Sellhiem is JORC'd it would be 3 Gold JORCs, 1 Uranium JORC, 13c in Cash and investments, Pretty much all the grounds surrounding WVL's FerroVanadium projects lots of JV's etc etc, surely that would all fetch more than 15c?????




sting said:


> Nub ..Yes I rang the company and spoke to Gary Maddocks, The independant Auditor is currently on site finalising his report. *It should be out after Easter and before the end of the month*
> 
> YT the delay was due to the Auditor requesting various procedural testing be changed and retested
> 
> SEMPER UBI SUB UBI


----------



## YOUNG_TRADER (27 March 2008)

sting said:


> Nub ..Yes I rang the company and spoke to Gary Maddocks, The independant Auditor is currently on site finalising his report. It should be out after Easter and before the end of the month
> 
> YT the delay was due to the Auditor requesting various procedural testing be changed and retested
> 
> SEMPER UBI SUB UBI




Sting I thought I'd do the honours today and rang the company regarding the JORC,

They have it (it was recieved a few days ago just after the easter break) and are putting the ann together (formatting etc) I was told that the delay is due to the fact that the JORC is alot larger than any previous estimates  and so alot of checking was done to make sure no errors were present,

Can't wait, as I said earlier *a JORC around 150K oz's Au* is all I want as this would allow for around *5yrs production at 30k oz's Au p.a.* 

anything over 150k oz's will just be icing for me as it would become a serious company making cash project


----------



## henry vanderhave (27 March 2008)

Thanks for the info guys.Been holding mxr options for ages and seems they will soon bear fruit.The ferro vanadium prospects are what caught my attention,this potential gold is an excellent extra.May top up a little.thanks!


----------



## smurfette (27 March 2008)

YOUNG_TRADER said:


> Can't wait, as I said earlier *a JORC around 150K oz's Au* is all I want as this would allow for around *5yrs production at 30k oz's Au p.a.*
> 
> anything over 150k oz's will just be icing for me as it would become a serious company making cash project




Hi YT,
With Gold prices around 1000USD/oz at 30,000oz per annum they would be making $30million a year in revenue and as stated with operating costs of around $200oz from the project EBIT of a little less that $24million a year.

What you you think that they will do will all that money? Dividend?

Smurfette


----------



## sting (27 March 2008)

YOUNG_TRADER said:


> Sting I thought I'd do the honours today and rang the company regarding the JORC,
> 
> They have it (it was recieved a few days ago just after the easter break) and are putting the ann together (formatting etc) I was told that the delay is due to the fact that the JORC is alot larger than any previous estimates  and so alot of checking was done to make sure no errors were present,
> 
> ...




This larger JORC was hinted at during my earlier conversation but I didnt want to comment on something that I could not confirm all I could do was re evaluate my holdings. Prior to the last 2 weeks my average price of my holdings were in the high 30's so a good result will put me back in the black.

But then again this share is being treated like it has the plague, the SP is about the same as the cash /share this mob have so I assume that people presume that the exploration area's are worthless. Let the upcoming Ann prove them all wrong.

SEMPER UBI SUB UBI


----------



## YOUNG_TRADER (27 March 2008)

Smurfette I am impressed, your learning,

But here's what you have to remember with these things, just cuase they say cash costs will be $200/oz doesn't mean, also just because I estimated 30k oz's p.a. of production doesn't mean it will be, 

Using conservative figures which the company put forward lets go with *15k oz's Au p.a.* and lets assume cash costs double that of the company's estimates ie $400/oz leaving a margin of *$600oz Au*

*15koz's x $600oz= $9m p.a. profit = 6c per share* CONSERVATIVE
*20koz's x $800oz= $16m p.a. profit = 11c share* COMPANY FORCAST


Sting, so they hinted it to you too huh? I wonder just how big this JORC is


----------



## sting (27 March 2008)

YT I'd hate to hazzard a guess for fear of being accused of ramping but am hoping my confidence in this and a few others are correct.

During the recent upheaval ive taken the opportunity to lower my average SP in this and 3 others that I hold and have hopes for the others being AAR FMLand DGR. 

Prior to purchasing more shares I was holding up to 50% losses I have reduced this to about 25 %. I'm hoping all it will take is either people stop acting like sheep and start believing in their own abilities or in this case a BLOODY GOOD JORC.


SEMPER UBI SUB UBI


----------



## JTLP (27 March 2008)

Hi Guys,

Reading back through some of the old posts, I couldn't help but notice that MXR has a CAPEX for Sellheim of $2m...Is that true 

SORRY Couldn't resist. 

But seriously, whats the G-O with the Iron Ore projects, they seemed pretty bullish about it back in Sep '07, now nothing? Or does it all go hand in hand with the ferrovanadium drilling in Oct?


----------



## d_crome (27 March 2008)

1.5 mil on volume - looks like somebody is anticipating some good news in the upcoming announcement.


----------



## rhyslivs (27 March 2008)

Is there general consensus this announcement is going to be released tomorrow or could they put it off till monday?


----------



## smurfette (27 March 2008)

YOUNG_TRADER said:


> *15koz's x $600oz= $9m p.a. profit = 6c per share* CONSERVATIVE
> *20koz's x $800oz= $16m p.a. profit = 11c share* COMPANY FORCAST




Thanks YT,
What do you think that they will do will the cash that they earn? Dividend?
Look for new projects? Further develop other existing projects? 

Or, since they hold a fair amount of cash already atm, may they not sell the gold and wait for the gold price to go higher before doing so?

Smurfette


----------



## YOUNG_TRADER (27 March 2008)

JTLP said:


> Hi Guys,
> 
> Reading back through some of the old posts, I couldn't help but notice that MXR has a CAPEX for Sellheim of $2m...Is that true
> 
> SORRY Couldn't resist.




Grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr, don't start that again, lol

But seriously though I came across a great video posted on another forum which shows just how simple alluvial gold mining is check it out,

Once you watch it you really understand why its so cheap and easy

http://www.extrac-tec.com/pages/downloads.htm

There's 2 units, 1 is small the other medium



p.s. Smurfette I'm pretty sure a dividend is out of the question, instead the funds get used to pay for the exploration and development of other projects such as the Narndee FerroVandium (ie like YML did with Rose Dam profits)


----------



## AussiePaul72 (27 March 2008)

Thanks to all who have contributed to this thread. A special mention to YT for your research and sharing of it on the forum. I have been on board for a few weeks now and am excited about the future of MXR and the upcoming announcement but also their other projects in the pipeline.
Buyers appear to be building fast at present leading up to the announcement. Total market depth is showing an approx ratio of 2:1 buying volume to selling volume. Looking closer at the top 5 levels, buying volume (~1.9M) outstrips selling volume (~0.25M) by more than 7:1. If this announcement is as good as others are predicting we could see the SP really get a kick along!
Bring it on ......  ...... good luck all!


----------



## smurfette (28 March 2008)

Great film YT,

Now I see how simple the mining process is. No leaching in arsenic like other gold mines that  may have environmental implications and no chance of a disaster like at Beaconsfeild. If only all mining was like this.

Smurfette


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## sting (28 March 2008)

One of the risks involved in this type of extraction is theft of nuggets, but MXR are awareof this problem and have factored this into their equations. I was told that if the envisaged theft pecentage didnt occur well it will be cream on top of a very rich formula


SEMPER UBI SUB UBI


----------



## sting (28 March 2008)

End of the month and no JORC... was getting all excited this week too...

would have even settled for a trading halt this arvo ..but nothing

I seem to be attracted to comanies with poor skills in keeping their shareholders informed .... I hold GDN and AAR as well.


SEMPER UBI SUB UBI


----------



## shaunm (28 March 2008)

Hey Sting,

Let the anticipation build I say!
It looks like NY will be in the green overnight and Japan is having a great day so hopefully Monday will be good for us and maybe there will be an announcement next week. A couple of green days would be awesome!

I have to say after the last few weeks of doom and gloom it is so nice to have a couple of holdings that are heading in the right direction; someone cut all our communications with the USA and let's carry on our merry way!


----------



## Markcoinoz (28 March 2008)

YT,

I am glad you like the Video.

However, the main download that attracted my attention in the first place is the HPC-200s.  Its near the bottom of the Downloads and only 6Mgb.

There you will see the Yukon - Anderson Creek is of similar size and ounces to the Sellheim Project.


http://www.extrac-tec.com/pages/downloads.htm

Download the Canada - Yukon one.
only 6 megabytes near the bottom of the Downloads.
------------------------------------------------------------
Video showing dual configuration of Generation-1 model of HPC-200s in operation at Anderson Creek placer gold mine - Yukon, Canada
------------------------------------------------------------

Extremely clever technology for alluvials.

They will also be chasing the Bedrock at Sellheim.

Cheers markcoinoz


----------



## herbert (28 March 2008)

Hi Sting,
I can imagine that it takes quite an effort to compile a JORC. So just give em some time. And in regard of all the feedback you and YT received by the company  it couldn't possibly last long anymore.  Monday will be the last day of this month so they could very well release it on that day and finish their report over the weekend. A Trading Halt would be greatly appreciated.
Anyway, the shareprice going up prior the announcement is a good sign and also allows MXR to get rid of those silly ppl who are urgent to cash in at those prices. Any resistance sub-20c should be washed away once we get the JORC into our hands.

Have a nice weekend.
Cheers


----------



## YOUNG_TRADER (30 March 2008)

herbert said:


> Hi Sting,
> *Monday will be the last day of this month* so they could very well release it on that day and finish their report over the weekend. A Trading Halt would be greatly appreciated.
> 
> Anyway, the shareprice going up prior the announcement is a good sign and also allows MXR to get rid of those silly ppl who are urgent to cash in at those prices. Any resistance sub-20c should be washed away once we get the JORC into our hands.
> ...




Hey Herbert I completely forgot that Monday was the last day of the month, so releasing the ann Monday will still be within the company's guidance ie after Easter but before the end of the month

Well like I said earlier I was told its ready and larger than they expected so I can't wait!!!!


----------



## Snakey (31 March 2008)

Just got of the phone with richard wilson from maximus. Asked him when we could expect JORC for sellhiem and he said it looks like it should be this week.
When I asked why it is taking so long, he reply was that I shouldnt be worried as there wasnt  to be any negative news from the ann. I guess we must sit and wait. An ann should be this week so I guess a little MORE patience is in order. Sounds like it will be positive.


----------



## rhyslivs (31 March 2008)

Release the announcement already!!  is anyone else getting frustrated?

But I will agree, the anticipation is strong with this one.

You can just see them going for the groin again with a capital raising instead of the JORC :


----------



## kpas (31 March 2008)

Snakey said:


> Just got of the phone with richard wilson from maximus. Asked him when we could expect JORC for sellhiem and he said it looks like it should be this week.
> When I asked why it is taking so long, he reply was that I shouldnt be worried as there wasnt  to be any negative news from the ann. I guess we must sit and wait. An ann should be this week so I guess a little MORE patience is in order. Sounds like it will be positive.




Does anyone else find it rediculous that he can say

a) its positive
b) larger then expected

over the phone, but they won't release the announcement to the public.


----------



## enigmatic (31 March 2008)

I think if you read snakey post that richard wilson only said that the announcement wont be negative. which can mean many things.
Possibly all it means is it will be slightly more then what they already know is there. 
That news is still not negative. we have only decide that his comments mean that the news is Positive in our eyes and that it is larger then expected.


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## YOUNG_TRADER (31 March 2008)

Hey Kpas, 

As I said to you earlier I doubt the chap I spoke to was trying to ramp the project to me when he indicated it was larger than they expected, rather was trying to justify the delay and explain the delay,

I agree they could just release an ann saying the same thing, 

Also we have no idea what they first expected, I'm guess it was 5-6x original production estimates which were 15k - 20k p.a. so maybe original estimates were 5x 15k - 6x 20k = 75k - 120k oz's Au

I agree the delays are frustrating,

p.s. Markcoinoz thanks for pointing out the larger operational vid, I didn't see that, 

It all looks so simple, who wants to chip in with me for the smallest "shovel fed" machine and go tresspass on someones grounds like RMS or BDG and see what we can get? :


----------



## JTLP (31 March 2008)

YT you live in Melbourne??? Let's roll 

I read on a not so reliable forum that the results would be out later this week...can anyone confirm or deny this?

On this other said forum YT you are a God. Your word is considered higher than a brokers


----------



## eclectic_nish (31 March 2008)

lol...im not sure if thats such a great compliment....:

btw...no need to go for the groin.....enough in the bank..


----------



## Markcoinoz (31 March 2008)

Just had a read through the last quarterly again.

Just a couple of things.

1) The announcement will be a Jorc Inferred Resource.
2) It will be an audited initial estimate.
3) Three areas within ML 10328 - Jack's Patch - Boulder Run
- Golden Triangle
4) Water Source sufficient to support a mine 15k-20k ozs per year plus future Alluvial Mining.

June Quarter is when they continue the Bedrock Gold in the Testpits.

I for one doubt that it will be a large Initial Resource.
150k ozs and i will be stoked.

The point is, if you have a look at the very small area that we are talking about and its really only scraping the edges. Its a starter, but its only small in the grand scheme of things. They got some of the Big Nuggets in the Bedrock. That i believe is where they are really aiming for in the long term.

Remember, they are paying an extra $1.5mln for the entire area. The Sellheim could be many times bigger than the initial Jorc. Its a longterm play.

I doubt very much they will be aiming for more than 10-15k ozs poer year. At present they have a small dam.

Obviously, it is not going to be able to support a full blown Gold Mine production without further drilling for more water.
That is also why they have undertaken the water drilling.

Down the track they might be looking at 30k ozs per/yr.
However, unless they can support that type of mining, it won't happen straight away imho.

The type of nuggets that they have already tested from the test pits are fantastic.

The 13th November Report highlighted .3grms per loose cubic mtr average. Some Nuggets have reached 36grms per/LCM.

Therefore, this is going to be a very significant milestone for Maximus going forward.

Remember, its the long term stayers that count.

As well, Kevin Wills is speaking at the Paydirt Gold Conference on Wednesday at 2.45pm

Cheers markcoinoz


----------



## YOUNG_TRADER (1 April 2008)

JTLP I am but a mere mortal who has a 50:50 chance of being right or wrong :

Marko, I'm with you mate, anything over 150koz's will blow me away, as with $ 200/oz costs 

NPV = $1000 -$200 x 150,000 = $120m = 80c

Even discounted by a half for production problems still would yield an *NPV of 40c*

Add this to the existing NTA of 13c and well you can see why I like MXR so much, the suspense is killing me

p.s. How'd we get onto the topic of groins


----------



## sting (1 April 2008)

Lets leave groins alone hey....

ive been out in the feild the last couple of days an come home wif crotch rot 

those who have served will know what i mean lol

"Dont wait up for the shrimp boat ma,..... I'm coming home wif the crabs


SEMPER UBI SUB UBI ..... Maybe I should have heeded this saying


----------



## Sean K (1 April 2008)

sting said:


> Lets leave groins alone hey....
> 
> ive been out in the feild the last couple of days an come home wif crotch rot
> 
> those who have served will know what i mean lol



From Medical Corps, I've heard of it, but we shower every day. :

Not sure how that effects MXR though?


----------



## JTLP (1 April 2008)

If I wrote...ANN OUT...then wrote April Fool's...would I be a bad person? 

Your figures look VERY attractive YT...cept 1 problem, market reaction/sentiment.

Apparently MXR are presenting at some Gold road show on Weds...maybe they will drop the ann to co-incide with this?

Also, if they JORC'd 100,000+, would this be enough to draw on some bigger and better backing?


----------



## YOUNG_TRADER (1 April 2008)

sting said:


> ive been out in the feild the last couple of days an come home wif crotch rot




lol, how long were you out in the field "soldier boy" ? Sounds like you had a bit too much "love you long time" while on tour :

Hey JTLP not sure I follow you re the "problem" do you mean poor mkt sentiment etc etc?

Also guys don't forget  the beuaty with MXR is that it has like 5 projects on the go,

With the main area being Narndee, 

Vanadium has been going through the roof, recently doubling from $40 kg to $80 kg (see WVL extract),

Moreover WVL itself is getting very close to production and according to some brokers such as Pato's represents a nice takeover potential,

Given MXR holds pretty much all the land around WVL such a takeover would no doubt bring MXR's grounds to light (see pic)

So lets not forget Sellheim is just one of the pies in the oven


----------



## JTLP (1 April 2008)

Yes YT...the problem is market sentiment.

It may look bonanza...but people are hesitant!

But yes, i'm pumped for the upcoming ann.

You state they have 5 projects on the go...

Bird In Hand - When is the planned production here?

Adelaide Hills - As per their ann, pre-feasibility study highly likely in 2nd quarter '08.

Sellheim - Obvious...

I know the other projects (can't remember off top of my head + can't check due to work constraints!) but are we expecting any ann's after the  Sellheim JORC? Or will it be a waiting game???


----------



## herbert (1 April 2008)

JTLP said:


> Yes YT...the problem is market sentiment.
> 
> It may look bonanza...but people are hesitant!
> 
> ...





Here a short summary of their JORCS and targeted resources:

- production for bird in hand will start in early-mid 2009, feasibility study mid 2008, costs around 400$/ounce, 250.000 ounces probable resource. 
Revenue : 150 m $ - capex of around 50 M$ = 100 M$ income 

- Sellheim: 20.000 ounces a year at a lowish estimate of 50.000 ounces @200$/ounce cashcost = 40 M$ revenue - capex of 2 M$ = 38 M$ income

- Uranium JORC in the Windimurra / Narndee complex waiting to be dug out --> a matter of mining policy to change ---> = 750 M$ in-ground value
---> 350 M$ in revenue

- 1 Billion tonnes FE target (- enriched with Vanadium)  around the WVL mine 

- Eromanga drilling results for  Abminga Ã¡nd their IOCG projects are due

- Shephard drilling taking place as we speak ( drilling for Vanadium and FE)
.......

Lots of great projects on the go. Upside is tremendous if you ask me.

Cheers


----------



## shaunm (1 April 2008)

herbert said:


> - 1 Billion tonnes FE target (- enriched with Vanadium)  around the WVL mine
> Cheers




Say wha???? I missed that. Am I reading this right, you are saying they are potentially sitting on 1 bill FE?


----------



## herbert (1 April 2008)

shaunm said:


> Say wha???? I missed that. Am I reading this right, you are saying they are potentially sitting on 1 bill FE?




yep,
listen to the BRR interview with Kevin Wills discussing the Windimurra Iron ore potential. Current resource target is 150-200 MT to a depth of only 40 metres but a potential resource could extend to a depth of 200 metres making the resource target 1 Billion tonnes FE... The important part is the Vanadium content tho. MXR got lots of high grade Vanadium in their ground making the Narndee complex one of their most exciting potential company makers.


----------



## pk_wasp (1 April 2008)

MXR FE play is not direct shipping ore I believe? hence I don't think we want to be too bullish about it.

Anyway, lets hope for a good JORC re: their gold resource


----------



## YOUNG_TRADER (2 April 2008)

Hey guys,

Still no JORC yet, c'mon MXR the suspense is killing us all, apparantly MXR are presenting at some conference today and the rumour is the JORC was held off until today so as to release it at the conference,

I don't know if there's any truth to that, anyone else heard anything or can verify if their is a presentation at a conference today?

Also Herbert I remember reading and listening to Mr Kev's Fe targets, kinda reminds me of FDL where he came out of nowhere with a monster target, but for now I think little to no upside value is or should be factored in to MXR until we have some more work on the tennements

Hey pk_wasp, DSO Fe ain't the end all my friend, look at WVL its a pure Vanadium play, also look at AXO its a FerroVandium play (what MXR hope to be) also given the proximity to WVL's mine and operations, any Vanadium MXR discovers will in a sense act as DSO Ore in the it can be directly shipped to WVL's mine and toll treated, you really have to look at it like that

*I think alot on here underestimate the value of Vanadium *


----------



## Markcoinoz (2 April 2008)

Hi YT,

When I first bought into MXR over 12mths ago, it was the initial Gold Play that got my interests plus the uranium assets it had in ERO.  At the time its spinoff ERO were trading at around .80 cents compared to MXR less than .20.

MXR had standout assets.  Once MXR bought the entire Narndee complex surrounding WVLs tenement, it was obvious that something was going to be big.

The best part about the WVL deal they have with the Noble group is after the production starts towards the end of this year, all Vanadium has been pre-sold for the life of the mine.  Thats about 20years worth for a small 8klm stretch leaving a further 10klms for exploration.  All infrastructure will be in place.  Prices are expected to increase 7% per year upto 2015.

MXR holds the continuation of the Shepherds which is approximately 18klms long as well as the Canegrass which is only 10klms from WVL's tenement.

I have no doubt that WVL and MXR will enter into some MOU or JV regarding the Fe/Vanadium down the track.  It won't happen soon.  Neither will MXR develop their own operation.  The Capex costs are very expensive.  Why double handle when you are sitting next to one of the biggest and cheapest Vanadium deposits in the World where they are years ahead.   Its all there for an eventual agreement to be signed once MXR prove up the resources.

Once these things come into play then it will be a History Maker for the company.  Its a very similar situation with its Big brother FDL being next door to FMG and also Kevin Wills at the helm.  Should be a similar outcome except MXR being Magnetite/Vanadium and FDL being Hematite. 

Both have to prove up the resource first.

Cheers markco2


----------



## kpas (2 April 2008)

It's in pre-open now with a pending announcement, so it should be out any second now.

dot dot dot dot dot (100 chars)



YOUNG_TRADER said:


> Hey guys,
> 
> Still no JORC yet, c'mon MXR the suspense is killing us all, apparantly MXR are presenting at some conference today and the rumour is the JORC was held off until today so as to release it at the conference,
> 
> ...


----------



## JTLP (2 April 2008)

Can somebody say...disappointing???

I was expecting more than that...or maybe I am missing something important?

The market didn't like it thats for sure


----------



## YOUNG_TRADER (2 April 2008)

What the **** was that??????

16k oz's???????? Are they ****ing serious,

How can they have a *15k -20k p.a.* production figure and have a JORC thats 16k???

Thats not even enough for 1 years production, 1 year at best,

"We have to check the JORC, its bigger than we expected" Bigger than what 5k oz's???????????


So ****ing mad its not funny


----------



## kpas (2 April 2008)

JTLP said:


> Can somebody say...disappointing???
> 
> I was expecting more than that...or maybe I am missing something important?
> 
> The market didn't like it thats for sure




Why is this disapointing?

Their cash value is something like 13c/share at the moment.

They just announced they will have some gold on sale within 90 days, pushing their cash value upwards and will provide further funding for their other projects.

They also very bullishly stated that they will be upping this JORC by a factor of 2, if not more to provide an ongoing income source for years to come.

I don't see it as a negative announcement - I am wondering why the market does?


----------



## Snakey (2 April 2008)

JTLP said:


> Can somebody say...disappointing???
> 
> I was expecting more than that...or maybe I am missing something important?
> 
> The market didn't like it thats for sure




That was way under what was hoped for. Interesting that people were saying that it was "larger than expected" yet it seems to be smaller than expected.
Maybe this was just a "Pump and dump"????????


----------



## sting (2 April 2008)

Altho its dissapointing it is still more than 16000 oz... like I stated earlier in here they have not been allowed to add in nuggets that while they know they are there do not fall within the test parameters. Even given this we are still only looking at 20 to 25 k .

And here I was getting all sexcited for nothing.


SEMPER UBI SUB UBI


----------



## kpas (2 April 2008)

YOUNG_TRADER said:


> What the **** was that??????
> 
> 16k oz's???????? Are they ****ing serious,
> 
> ...




It's only the initial resource - it will get bigger!

I am def holding, they will firm it up in the coming months.


----------



## Ants (2 April 2008)

"Hancock is of the opinion that an additional exploration target of between 6,000 and 12,0000 ounces is present in the areas outlined by the three recource areas"

so 28000 ounces.


> It's only the initial resource - it will get bigger!
> 
> I am def holding, they will firm it up in the coming months.




Heres to waiting, Ill hold.


----------



## d_crome (2 April 2008)

LOL - think we all got rolled by some sharp cats who took over 2 months to deliver an annoucement that really was anything far from "large".

Anybody know who's backyard these guys opperate from?  Maybe they've upgraded and are working out of a single bedroom flat.  LOL.

Well - atleast I didn't get too badly burnt - hope everybody else out there is doing ok.

Still unsure if I'll hold given the liklihood of minimal announcements and returns several years off on the larger prospects.

You live, you learn.

YT - don't take it personally, these guys probably are lucky they've made it this far without killing themselves with the wrong end of a photocopier....


----------



## JTLP (2 April 2008)

YOUNG_TRADER said:


> What the **** was that??????
> 
> 16k oz's???????? Are they ****ing serious,
> 
> ...




X2...

All these reports of delays for bigger ann's.

I was expecting at least a "we have a JORC of XXX which will enable us to produce for X amount of years"...16k of Au...so so lame.

LOL all that formatting and checking the figures might have been in reverse!(is the JORC really that small? Well i guess it is...OOPS oh well!)


----------



## Markcoinoz (2 April 2008)

Ok,

Read the announcement.

A few points.

It was only for the 3 small areas of their tenement.
It is Alluvial which makes it much more difficult to put a figure to a resource.
The main Gold nuggets were found in the Bedrock.
The Bedrock Nuggets were not included.
They will be sending the Gold to market at $200 oz costs.
That means it brings in immediate cashflow.
Its only Initial Jorc.

Thats always been the difficulty of any Alluvial Mine.
Trying to work on Random Data.

The main point is they will go forward from here and imo will reach the targeted 15k ozs per/yr.

As long as they reach that i will be happy.

Some people have tunnel vision.

Cheers markcoinoz


----------



## YOUNG_TRADER (2 April 2008)

Breathe, breathe, ok having taken a few deep breathes let me say the following

While I believe the JORC is ridiculous and pathetic at an $800/oz margin 16k oz's can still net $12.8m = *NET 9c to MXR* applying a discount factor of 1/3rd that still = *3c NET to MXR*

*Given cash and asset backing stands at 13c I see little downside from these levels*

however I am still very dissapointed with this JORC


----------



## eclectic_nish (2 April 2008)

I guess they were soo shocked by it that they had to read itover and over......hence the delay..


----------



## d_crome (2 April 2008)

Maybe in their detailed "formatting" and "editing" and "proof reading" they acidentily erased an additional "0"???

Still hoping they released this from their LA office and a second announcement will read "APRIL FOOL"... lol


----------



## kpas (2 April 2008)

YOUNG_TRADER said:


> Breathe, breathe, ok having taken a few deep breathes let me say the following
> 
> While I believe the JORC is ridiculous and pathetic at an $800/oz margin 16k oz's can still net $12.8m = *NET 9c to MXR* applying a discount factor of 1/3rd that still = *3c NET to MXR*
> 
> ...




Not to mention that they will add another 3-6c of value in the coming months.

That takes the valuation to at least 16c, if not 19-20c.

This doesnt take into account the bullish statement they have made about adding more to the JORC estimate.

There is no downside from the current prices.


----------



## prawn_86 (2 April 2008)

kpas said:


> There is no downside from the current prices.




Ha! I have heard that before about companies that are actually producing.

Markets are driven more by fear and greed than by underlying fundamentals I have learnt...


----------



## kpas (2 April 2008)

prawn_86 said:


> Ha! I have heard that before about companies that are actually producing.
> 
> Markets are driven more by fear and greed than by underlying fundamentals I have learnt...




Their announcement is very bullish.

Two things to remember:

1. This is initial resource estimate, it is likely to be low as they need to do a more work to firm it up.

2. It still adds value to their current share price and gives them cash on hand to develop their other projects without further dilution.

It's not a bad announcement.


----------



## prawn_86 (2 April 2008)

Im not saying its a bad announcement.

Im just saying that I heard it before about other stocks not being able to go lower.

There are lots of stocks trading below NTA or at ridiculously low PE ratios (or both)

So saying that it cannot go lower is a big call in the current environment


----------



## rhyslivs (2 April 2008)

I would be wary of assuming that a stock can have no downside in current markets even if it is trading at or below its NTA.

A safer way too look at it in my opinion is if you can see no short term upside then there is a safe bet that it could and will have downside. 

The problem is there is just too much opportunity out there at the moment. If a stock is stagnating (like a lot exploration stocks are) then people will take their money elsewhere to a stock that offers positive short term prospects.

This is only my opinion, anyone else is free to contradict me!

Rhys


----------



## Justthinkin (2 April 2008)

At my age you get used to being misled, making mistakes, mis-interpreting things... it's all part of learning. But I get really annoyed when those who should know better dance around reality for whatever personal reason they might have.

At the outset, some of the analysis presented on this forum I think is quite outstanding. Well done. My comments are certainly not critical of those on this forum.

(a) I can deal with the a little resource. OK... not as grand as we would like. But if it's only 16,000 oz, then is there merit in dropping at least $2.0M capex re an inferred resource!. In my view, in this market, not an obvious answer. No comment from the directors.

(b) The report talks about Hancock's conclusions and comments for further areas of possible gold mineralisation. Regretably, the Directors have made no comment. What do they think I wonder? Should we sack and appoint the consultant on the basis that we are only ever to be fed this consultants heavily qualified opinions? 

(c) I hate announcements that talk about what might be especially when given historical announcements, much of the work underpinning this announcement was completed pre Xmas 2007. 3 months to assemble 2 pages of absolute dribble. 

This announcement has probably done MXR a great dis-service. It's either underpinned by extreme conservatism (which is of very little value to a company in a very fragile market) or is as good as it gets and the directors have no choice but to sell the maybe...

I'm long at that momemt and the loss is not killing me. But I really do hate potentially mischeivous directors..


----------



## YOUNG_TRADER (2 April 2008)

As I said,

I'm definately holding and may even buy more MXR at 13c level as its NTA

However what gets me like most is how far short the Sellhiem JORC fell from our expectations,

I mean in all the qtrly reports the company repeatedly stated a production target of *15k-20k Oz's Au PER ANNUM*

A JORC of 16k oz's allows for little over 1 years production, 

Even in todays presentation the company restated their target of 15k oz's p.a. (I notice the 20k upside is not present) but its still a PER ANNUM PRODUCTION target


The final image does show the JORC outline in terms of the current mining lease and the areas that offer immediate upside to the current resource,

Another hold for me I guess


----------



## herbert (3 April 2008)

YT, read my posts on HC under the nick "sellier".

Independant auditors tend to be overly conservative in their estimates.
I assume MXR management know that there is a lot more gold in Sellheim than currently stated in the JORC. The auditor didn't even take the gold nuggets into his valuation so it's probably useless to consider the 16.000 ounces of gold the top-end of the resource.

Anyway, 12.5 M$ revenue per annum are currently 66% of the market cap. Valuing MXR's cash, cash equivalents (ERO holding) and Sellheim alone would justify a shareprice of 20c.
Cheers


----------



## JTLP (3 April 2008)

Herbert you are Sellier???

When I read your comments last night i was very impressed. You had a well presented argument and shed some new light and facts.

Much appreciated and I hold much happier now :


----------



## rhyslivs (3 April 2008)

Forgive my ignorance but what is HC? Is it another forum is it?

It seems all the impulse sellers got weeded out yesterday. Todays share price showing a little bit more strength... so far anyway.


----------



## Markcoinoz (3 April 2008)

Hi Herbert,

I have cheered up a bit now

Do you remember in which announcement it gave the Test Pit Samples of Nuggets they had originally unearthed?  

I seem to remember reading an announcement last year that highlighted the samples.

Like alot of things, when you go searching for them, you can't find them

Considering they have not been included in the Initial Jorc, some of the samples were very significant for memory.

Keep up the good work.

cheers markcoinoz


----------



## YOUNG_TRADER (3 April 2008)

Hey Marco,

If you listen to Kev's BBR pres today he talks about the 16koz JORC + 12K oz's in Nuggets from Bedrock, also talks about very confident of $10m - $12m net cash from intial start up operation, trial mining soon, full scale July etc etc Very confident of more resources etc etc

Like I said at 15c it offered little downside given NTA of 13c and today the rebound has shown this


----------



## kpas (3 April 2008)

YOUNG_TRADER said:


> Hey Marco,
> 
> If you listen to Kev's BBR pres today he talks about the 16koz JORC + 12K oz's in Nuggets from Bedrock, also talks about very confident of $10m - $12m net cash from intial start up operation, trial mining soon, full scale July etc etc Very confident of more resources etc etc
> 
> Like I said at 15c it offered little downside given NTA of 13c and today the rebound has shown this




I agree - give it time and they will edge their way back up.

They should firm up the JORC within a few months and also be in a position to sell their gold at a very good price, putting themselves in an even better cash position then they currently are at.

Definitely holding.


----------



## Markcoinoz (3 April 2008)

YOUNG_TRADER said:


> Hey Marco,
> 
> If you listen to Kev's BBR pres today he talks about the 16koz JORC + 12K oz's in Nuggets from Bedrock, also talks about very confident of $10m - $12m net cash from intial start up operation, trial mining soon, full scale July etc etc Very confident of more resources etc etc
> 
> Like I said at 15c it offered little downside given NTA of 13c and today the rebound has shown this




Thanks YT,

I lost my sound a couple of months ago and have had problems ever since trying to get the right ethernet adapter for my PC

However, thanks for mentioning the 12k ozs of Bedrock Nuggets.

That enforces what i was alluding to yesterday when i mentioned that the all important question was in regard to not just the initial resource, but the bigger picture being the Bedrock which is what they are really going for.

---------------------------------------------------------------------------

A few points.

It was only for the 3 small areas of their tenement.
It is Alluvial which makes it much more difficult to put a figure to a resource.
The main Gold nuggets were found in the Bedrock.
The Bedrock Nuggets were not included.
They will be sending the Gold to market at $200 oz costs.
That means it brings in immediate cashflow.
Its only Initial Jorc.

Thats always been the difficulty of any Alluvial Mine.
Trying to work on Random Data.

The main point is they will go forward from here and imo will reach the targeted 15k ozs per/yr.
---------------------------------------------------------------------------

Kevin has also just announced another BRR. 3.03pm today.

He is renowned for his BRR.  At least they get their money's worth from the subscription.  I think he also has a soft spot for Julia:

Cheers markcoinoz


----------



## JTLP (3 April 2008)

Why was the g/t so low?

Is it due to the nature of not being allowed to add the bigger nuggets etc?

And when will we see the effect of these larger, not included nuggets? Will they state "we sold a nugget that wasnt included in the JORC for $$$ today" or will they break it down?

Not too familiar with how we will ever know!


----------



## Markcoinoz (3 April 2008)

JTLP,

The main problem was always going to be to satisfy the JORC Standards for measuring an alluvial resource.

There has to be enough confidence to say there is an approximate amount of resource over a certain size area after samples have been taken from the testpits.

Its not that they don't have a decent resource.
Its because they must qualify to meet the criteria.

An alluvial deposit is not like ordinary Gold Mining where you drill holes at various intervals to identify a  size and location of a reef.

There is no uniformity with alluvials.
One test pit shows up alot of Gold Samples.
The next one may not.

OK with the 16,000ozs, it is a conservative amount to satisfy the Jorc Code that they do have a resource over a certain area.   From there it will increase as they mine and become producers and explorers at the same time.

However, they had to pass the first test which was why they had to get it audited in the first place.  Its all part of the process.

Regarding the nuggets, they could not be included as part of the Jorc Resource because of the nature  of what they are.  There is no distance that a nugget is spread out over.  Its all random.  Great you find a nugget and add it to the total production.  They will be sold along with the rest at market.

As the production commences, i am confident we will be seeing announcements along the way of good size nuggets found.
Its a known area for finding them.

Overall, they will bring in cash as more and more Gold is found.
As simple as that.

It should not be seen as a big issue.

Just helps us along the way in exploration of their other assets which are far more important IMHO.

Cheers markcoinoz


----------



## herbert (3 April 2008)

Markcoinoz said:


> Hi Herbert,
> 
> I have cheered up a bit now
> 
> ...





Hi Markco,
good to see you back in a good mood  
I think I found the report you were referring to. 

In today's BRR interview Kevin Wills clearly pointed out that there is more gold than 16.000 ounces. When adding the nuggets from the Bedrock we're talking about 28.000 ounces or  approx. 21 M$ revenue over 2 years. 

Now when you think about the potential for the resource to double or triple in size because of their over-conservative estimate MXR are getting in an undoubtedly enviable position when comparing MXR to other juniors - financial independence that is 

Could someone please tell me what Big Kev is talking about in his second interview ?

Cheers


----------



## kpas (4 April 2008)

I am surprised of the very little volume MXR has had today.

Surprised and very disapointed really, considering how positive the announcements were.


----------



## sting (4 April 2008)

kpas said:


> I am surprised of the very little volume MXR has had today.
> 
> Surprised and very disapointed really, considering how positive the announcements were.




I dont consider the announcement that positive when if anyone spoke to them over the telephone they indicated a far greater JORC than they had previously anticipated and all we got was 16k total ...before you say it yes the bedrock nuggets are not included but even their own people are stating that these nuggets are unreliable cream. 

I and others in here I presume were expecting 16k a yr for 5 yrs or 90k, this expectation wether realistic or not and the failure to achieve this has resulted inthe SP. I to be honest had half hoped that they announced a correction and stated we had a misprint jorc is not 16k but 16k a yr for x yrs. This didnt occurs so on the back burner this goes as far as im concerned.

Dont get me wrong I still believe in the potential for this mob but in future will take with a grain of salt what thay say until i can see the results. I believe a further larger scale test run is planned for the next 3 months lets see what ACTUAL OZ's are retrieved then I feel we will be in a better position to value this SP

SEMPER UBI SUB UBI


----------



## YOUNG_TRADER (7 April 2008)

Hmmm MXR at 13.5c just above cash backing, i couldn't resist grabbing a few more,

I'm actually surprised that people are selling on the back of todays ann,

It shows that MXR are getting ready to move towards mining at Bird In Hand, that would be 2 gold projects coming into production, additionally they highlight that as with the last drill hole *BIH 42* which had visual gold present, *BIH 43* does too, so we're just waiting on assays to confirm what we already know, 

Buts thats not all, here's the list of ann's I'm expecting

1. *BIH 43* 12m hit, I reckon it'll be 12g/t Au - 15g/t Au
2. *BIH 44* this is another important hole, if it hits 15m's at 12g/t Au it will confirm the 250k oz potential (per MD's guidance on Board Room Radio interview)
3. At *Cromer*, a prospect near BIH, we are waiting on 6 RC Drill Holes, 
4. At the *Narndee Ferro Vanadium* prospect *Canegrass* we are expecting survey results which will firm up target size potential etc etc
6. Also at the *Narndee Ferro Vanadium* area *SHEPARDS* we are waiting on drill results
7. *ERO* (MXR holds heaps) has completed some very deep IOCG holes looking for Olympic Dam style structures, a find here (though unlikely) would seriously boost ERO's SP and thus MXR's NTA
8. *Kapunda* a historical copper deposit thats JV'd with CRJ is having an intial JORC estimate done


As you can see lots of news flow expected over the month of April, I am particularly intreseted in the survey being done at *Canegrass*, it was this kind of magnetic survey that allowed *MDX* to come out with its target which cause the subsequent SP rally from 10c to 40c 

Also I can't wait for drill results at the other FerroVanadium project *Shepards*, I'm sure WVL will be watching too


----------



## herbert (9 April 2008)

YOUNG_TRADER said:


> Hmmm MXR at 13.5c just above cash backing, i couldn't resist grabbing a few more,
> 
> I'm actually surprised that people are selling on the back of todays ann,
> 
> ...





Hi Youngtrader,
pretty quiet around here. But looks like that counts for a lot of resource stocks at the moment.
Good work on  providing us with an update of what's to come.

I'd like to add some expected anns to your list tho:

- We should get a report about Scoping studies for Bird in Hand in late April
- ERO finished drilling for Uranium at Abminga East as well as for IOCGU at Welbourn Hill with results pending. 

Buyers are building around 13- 13.5c ... irrational prices considering what resources MXR managed to prove up and that they're very close to gold production.

Cheers


----------



## YOUNG_TRADER (9 April 2008)

Yeah I've been watching the bottom feeders build at 13c and 13.5c

I think barring an apocolyptic meltdown, 13c is the absolute base backed up by the NTA, yet any one of those pending ann's (if positive) could launch MXR back up to 16c/17c quite easily,

Drilling results at Shepards Ferro Vanadium has the potential to be company mkaing, as does the outcome from the Canegrass surveys

I think the BIH 43 Interecept is a given to be a 12g/t -15g/t Au hit and like the previous BIH 42 hit will cause a price spike


----------



## JTLP (11 April 2008)

Interesting to see an Appendix 3B just before the close today.

If you look back through the Ann's, approximately between 3 to 8 days after a 3B a price sensitive announcement is issued.

Just speculation but


----------



## JackC (11 April 2008)

JTLP said:


> Interesting to see an Appendix 3B just before the close today.
> 
> If you look back through the Ann's, approximately between 3 to 8 days after a 3B a price sensitive announcement is issued.
> 
> Just speculation but





I hope your right JTLP - but it was only for approx 4500 shares so not really anything to right home about imo.


----------



## JTLP (11 April 2008)

Take a look Jack...I was pleasantly surprised!

But I could be a total goose and yeah 

Maybe more assays from BIH?


----------



## YOUNG_TRADER (11 April 2008)

Hey JTLP 

BIH 43 is overdue now so we can expect that soon, along with a bunch of other ann's, like I said Shepards or Canegrass news are the company makers so I've got my eye's peeled for those


here's that list of ann's I'm expecting

1. BIH 43 12m hit, I reckon it'll be 12g/t Au - 15g/t Au
2. BIH 44 this is another important hole, if it hits 15m's at 12g/t Au it will confirm the 250k oz potential (per MD's guidance on Board Room Radio interview)
3. At Cromer, a prospect near BIH, we are waiting on 6 RC Drill Holes, 
4. At the Narndee Ferro Vanadium prospect Canegrass we are expecting survey results which will firm up target size potential etc etc
6. Also at the Narndee Ferro Vanadium area SHEPARDS we are waiting on drill results
7. ERO (MXR holds heaps) has completed some very deep IOCG holes looking for Olympic Dam style structures, a find here (though unlikely) would seriously boost ERO's SP and thus MXR's NTA
8. Kapunda a historical copper deposit thats JV'd with CRJ is having an intial JORC estimate done


----------



## YOUNG_TRADER (15 April 2008)

YOUNG_TRADER said:


> Buts thats not all, here's the list of ann's I'm expecting
> 
> 1. *BIH 43* 12m hit, I reckon it'll be 12g/t Au - 15g/t Au
> 2. *BIH 44* this is another important hole, if it hits 15m's at 12g/t Au it will confirm the 250k oz potential (per MD's guidance on Board Room Radio interview)
> ...





Ann out but its about the Sellhiem resource, so its not even one I was expecting

It looks like the ASX has recieved complaints/query's from shareholders regarding the Sellhiem project, interesting to read MXR's response, especially the bit about 15k oz p.a. production target vs 16koz JORC


ASX has also queried how Maximus believes a
production objective of 15,000 ounces per year can be
estimated when the current Inferred Resource is only
16,000 ounces. As stated in the 2 April release under the
heading “Additional Alluvial Gold Potential” significant
numbers of gold nuggets were recovered during the
exploration program. It was also reported that five
additional areas have returned results above cut off
grade and are expected to lead to additional resources.
There are also many other areas outside Mining Lease
10328 where previous exploration has shown alluvial
gold to be present. Predictions of future production
objectives are therefore based on Maximus assessment
of its results to date.

So many anns still to come, bring on Shepards drill results, Canegrass survey results and latest BIH intercept


----------



## herbert (15 April 2008)

Hi Youngtrader,

Sellheim looking good. MXR are gonna treat 100 lcm / hour in a 24h / day operation.

Preproduction is scheduled to start in about a month. September quarterly should look good with Sellheim being in full production and accumulating cash.

Kevin Wills is currently talking to a mining engineer regarding Sellheim's production capacity. I suppose with all those nuggets scattered in the alluvials it should be possible to ramp up the production target to around 26.000 ounces a year ( possible revenue of 26M$/year = 6,5M$/quarter).

Next update on Bird in Hand, ERO drilling and Sellheim should be out soon. Haven't heard much of the Shephard drilling and the Canegrass EM survey lately, maybe we'll get some results or updates on them by surprise.
Let's see.

Cheers


----------



## d_crome (16 April 2008)

Herbert - I really hope your optimism is correct.

My pessimism unfortunately says that the ASX had every right to ask that very same question that most here (and on other, less reputable forums) had instantly stated once the announcement was released (I do believe "WTF" summarized it best! )

Can't say I like the MXR response as they're almost implying that they "know better than the JORC".  They indeed probably DO know better, but what they KNOW and what they can STATE are two entirely different matters.

I've categorized my holding in MXR as one that will come into fruition in the mid term, probably 18 to 24 months we MAY see this stock up near its record highs - my rationale is based upon the fact that the US economic woes haven't even started and will only be resolved when the presidency is changed (regardless of party affiliation) and the US actually acknowledge they have a full blown recession on their hands.  During this time gold will be King and if MXR are in production - I do believe the long term holder will ultimately be well rewarded for their patience.


----------



## arms (16 April 2008)

Options expiry is 30th June, would imagine that the company will be working very hard to get these in the money, otherwise a decent amount of money they would have been working on receiving will be missing from available funds. 

Arms


----------



## herbert (16 April 2008)

Hi guys,
i mailed the company yesterday because i had some questions regarding the Canegrass and Shephard drilling.

Here's my mail and the answer from Gary Maddocks, exploration manager of MXR:

" Good evening Mr. Wills,

I am a long term holder of MXR and have been keenly following MXR's progress and development of several of its projects.
In the March quarterly i noticed that MXR mentioned a delay of the Shephards drilling until late February and an EM survey of Canegrass to be undertaken in April.

Are there going to be any updates about these two programmes in the foreseeable future ? Are these programmes currently running or have they been delayed ?

I look forward to reading your answer.
Thanks.

With kind regards

xxxx

"
Hi xxxx,
Thanks for your interest in Maximus and its Narndee project in WA.
While I am unable to give you any direct news, we are continuing to assess the Shephard and Canegrass prospects for their magnetite iron and vanadium potential and expect to be making comment on both areas in ASX releases during the latter part of April. 
With regard to the EM survey, this has been slightly delayed but should be underway in early May. Again, a release on this will be forthcoming.
We look forward to your continuing support and if you have any further enquiries, I would be pleased to answer them.
Regards 
Gary Maddocks
Exploration Director
"


Looks like we'll get results about these two prospects pretty soon. Might lead to a nice SP boost.

Cheers


----------



## TCB (16 April 2008)

Thanks for sharing the info Herbert it is much appreciated.  IMHO i still think that iron ore and vanadium has the most upside for MXR. Will be interesting to see if infact news regarding Shephard and Canegrass are released later this month. MXR are not so reliable lately when it comes to this... Lets hope that when these ann are released the SP will move up....still great buying at these prices good luck to all holders.....


----------



## d_crome (18 April 2008)

If MXR's true value is as a Vanadium play rather than a gold play - I can't understand why MXR is stagnant yet similar Vanadium plays like IRC are climbing solidly...


----------



## herbert (18 April 2008)

Hi guys,
I wrote two more mails to Gary Maddocks and got some very interesting replies:


"
Hi Gary,
thanks for your quick reply.

While the market seemed disappointed about the latest Canegrass drilling results I considered them pretty encouraging.
You as an expert, what is your opinion regarding the Canegrass drilling intercepts ? Are the grades encountered potentially economic ?
I know, it's an early stage of the project but I'd like to hear your opinion since you were directly at the side.

Thanks for taking the time.

Have a good evening.

Chris
"

"
Hi Chris,
Not sure what you are meaning about 'latest drilling results' as we have not reported anything since our Dec qtrly at the end of Jan. However, we also think these initial drill intersections were encouraging and that is why we decided to do an extensive program of geophysics to outline the better areas in which to undertake further drill testing. This work will be in a release as soon as geophysical interpretations are finished and certainly before the end of this month. 
With regard to grades, the 16m at 44% Fe reported in Jan was well above the lower range of 35% we would still consider interesting. Further work on beneficiation is need to determine what this lower level should be for the style of mineralisation seen at Canegrass but we would expect that plus 35% values will be worth further consideration as significant concentrations of iron. 
Hope this is of help.
Regards GEM
"





"
Hi Gary,
thanks again for your quick answer.

You mentioned the initial Fe grades at Canegrass in your mail. But isn't the Vanadium concentration of more importance than the Fe grades ?
1.2% Vanadium in that 17m intervall looked like quite a considerable concentration when comparing it to the average Vanadium grades of the WVL mine in the north of the Shephard zone. So is it more important for the resource to be higher grade Fe or higher grade Vanadium ?

Sorry for these questions, but as a non-geologist it would be interesting to know more about the details.
Thanks.

Regards
Chris
"

Gary Maddocks's answer:
"
Hi Chris,
Yes, the V values at ~1.2% V2O5 are considered very interesting but the current market interest in iron ores and the fact that such V rich ores can be treated as iron ores in countries such as China, Russia and Sth Africa makes us believe that promotion of iron content is in the best interest of Maximus at this time. 
A 'second prise' at Canegrass would be the outlining of a fresh magnetite containing +1%V2O5 that would be of strong interest to nearby Windimurra Vanadium Limited as I understand much of their known resources are partially oxidised and their processing technique requires some level of non-oxidised magnetite.
Regards GEM 
"



Cheers


----------



## skegsi (20 April 2008)

From GM's reply it looks like the primary objective is iron ore, with a secondary (if found) vanadium rich non-oxidized area to blend with WVL's oxidized stuff.

Would this change the valuation much? I understand there is a high CAPEX and high OPEX for V mine, with the subsequent high V price. Anyone have any idea how much V rich magnetite iron ore (is this called vandiferrous magnetite ore?) sells for? Would MXR have to beneficate, or do they just dig it up (+/- blasting) and send it to port? Any one heard of Chinese, Russian or SA mills that take this product?

Would be interesting to see the difference in value of treating it as iron ore vs treating it as a source of V2O5 flakes and ferrovanadium. I think the option of using it as iron ore may reduce high costs and seems a lot simpler process.


----------



## skegsi (20 April 2008)

say we're looking at a 200Mt vanadium rich 40%Fe Iron ore resource.

Just having a stab in the dark, but say they can receive $50/T for the vanadium rich ore from china russia etc

At costs of $40/T to dig it up and get it to port (another stab in the dark) i think the stuff is at surface down to 40-80m so shouldn't be massively expensive.

That's a margin of $10/T. Times by the 200Mt we're looking at $2bill

CAPEX say $500M (another guesstimate) so say about $1.5bill, tax, discount rate, dilution could take that down to about $1bill maybe

Just getting things started hopefully

definitely don't take this as anything but guesswork

cheers

Skegs


----------



## YOUNG_TRADER (21 April 2008)

Skegsi I know the company has released its estimates for Shepards and Canegrass previously, however I think that the upcoming drillingresults from Shepards as well as the survey at Canegrass will shed alot more light on what can reasonably be expected to be found here

At current levels of cash/NTA the only way is up really, its just a matter of time


----------



## YOUNG_TRADER (23 April 2008)

Here it is boys of the ann's I was waiting for,
The survey and testing results at Canegrass,

*"SIGNIFICANT IRON ORE TARGETS"*

Welll it appears that very soon MXR will release a target estimate for the area like MDX, be interesting to see if that finally grabs the mkts attention

NEW GEOPHYSICAL SURVEYS REVEAL SIGNIFICANT GRAVITY
IRON ORE TARGETS AT CANEGRASS, WINDIMURRA WA
HIGHLIGHTS
• Detailed gravity and high resolution aeromagnetic geophysical surveys over Canegrass iron ore ””
vanadium prospect reveals significant new gravity anomaly drill targets.
• *Gravity and magnetic modelling of large new targets is nearly complete*• Exploratory drilling of magnetite rich zones expected to commence in May


----------



## Gekko (23 April 2008)

YOUNG_TRADER said:


> Here it is boys of the ann's I was waiting for,
> The survey and testing results at Canegrass,
> 
> *"SIGNIFICANT IRON ORE TARGETS"*
> ...






YT, will they come out with a target when drilling is finished. What other announcements are also due out


----------



## YOUNG_TRADER (23 April 2008)

Gekko well MDX  kicked a couple of rocks, took some smaples completed a magnetic survey and then came out with a very large target, plausible or not the SP ran from 10c to 40c in a matter of weeks and drew the attention of Red Rock and some Chinese dude,

So I guess what I'm trying to say is no they don't have to wait until after drilling to release a target estimate becuse thats exactly what it is a target estimate, nearly all companies come up with target sizes before they drill, it gives them an idea of what they are working towards,

Once drilling is completed and assays are recieved that is when JORC's ie resources are established,


So bottom line I think that very shortly MXR will most likely ann to the mkt a target size at Narndee and depending on the size it may follow in MDX's footsteps who knows

_Geophysical Modelling
*Geophysical modelling of the new data is a complex technical
task and has been underway for three weeks. This work is
nearing completion * and will be released as soon as Maximus
is confident with the geophysical and geological models
determined. The work has involved measuring the physical
properties of the rocks available from recent RC drill chips
and from diamond core drilled by WMC in the 1970s and
subsequently stored in the core library of the WA Department
of Industry and Resources._


----------



## rhyslivs (23 April 2008)

Its interesting watching this stock, people want to keep a lid on it.

There is so much downward pressure. The buy side strenght easily outweighs the sell side, but people just arent interested in budging above 15c.

Must be alot of negative energy still floating around from the less than inspiring Gold JORC :/

For the record I hold.

Rhys


----------



## stock nub (23 April 2008)

On the Detailed Gravity Survey image to the left of target area 1, it looks like another "hot" target which looks around the same size as target 1 which is our best target.

Its interesting seeing as this area was just on the edge of the survey area and it looks like the targeted mineralisation continues on there.


----------



## JackC (23 April 2008)

'Gravity and magnetic modelling of large new targets is nearly complete'

'Geophysical modelling of the new data is a complex technical
task and has been underway for three weeks. This work is
nearing completion and will be released as soon as Maximus
is confident with the geophysical and geological models
determined'. 

The above two statements were take from the announcement just released. It is my understanding that the target will be released shortly, when the modelling is complete & *before* the drilling commences in May.

Glad I held onto these despite the dissapointing Sellheim news recently.


----------



## YOUNG_TRADER (23 April 2008)

Guys something to remember is that Kenin Wills is a bit of a ramper, ie he is the same man who out of nowhere came out and gave FDL is huge Iron Ore target based on geophysical and magnetic surveys,

So I reckon there is every chance he will come out with some ridiculous target at Canegrass, plausible or not just like FDL and MDX such an ann will most likely cause a re-rating so thats what I'll be waiting for

He's done it once before and I reckon there's every chance Big Kev will do it again


----------



## skegsi (23 April 2008)

looks like shepards drilling had no luck. bit of a bugger. Canegrass looks good though. 

agree with your obs stock nub re red hot next to target 1. should have made the survey bigger


----------



## YOUNG_TRADER (23 April 2008)

skegsi said:


> looks like shepards drilling had no luck. bit of a bugger. Canegrass looks good though.
> 
> agree with your obs stock nub re red hot next to target 1. should have made the survey bigger




Hey Skegsi just saw that, yeah that is dissapointing one less ann I was expecting on my list 



YOUNG_TRADER said:


> Buts thats not all, here's the list of ann's I'm expecting
> 
> 1. *BIH 43* 12m hit, I reckon it'll be 12g/t Au - 15g/t Au
> 2. *BIH 44* this is another important hole, if it hits 15m's at 12g/t Au it will confirm the 250k oz potential (per MD's guidance on Board Room Radio interview)
> ...




So next I'd be expecting the results of BIH 43,

Also with NTA at 13c, all of MXR's other projects including Canegrass are attracting a 1c-2c value


----------



## shaunm (23 April 2008)

rhyslivs said:


> Its interesting watching this stock, people want to keep a lid on it.
> 
> There is so much downward pressure. The buy side strenght easily outweighs the sell side, but people just arent interested in budging above 15c.
> 
> ...




All I can guess is there a people doing what I wished I had done today, sell 'em in the morning when they hit 16c and buy back in the arvo at 14/14.5 cents.


----------



## skegsi (23 April 2008)

> it is planned to drill at least one diamond hole of 500-600 metres to properly test this target




Surely this cant mean to 500-600m depth. Excuse the ignorance but what do they mean by this? Do they drill across at a really shallow angle or something


----------



## YOUNG_TRADER (23 April 2008)

Hey Skegsi,

I've been trying to work it out and the only thing I can think of is that they drill the hole on such an angle that it only goes to a true depth of say 150m's or 200m's MAX

But I agree that will still be some pretty extreme angel ie almost horizontal


I am amzed that MXR is back at 13.5c, with such a plethora of news still to come and so many projects its almost like the stock is cursed 

I guess Shepards was a bummer and may have caused some holders to sell


----------



## skegsi (23 April 2008)

must have been told to remove this paragraph:

"Maximus said its wholly-owned Canegrass Prospect – part of the extensive
Windimurra layered magnetite gabbro complex – had high potential for coarsegrained magnetite, with early non-JORC compliant interpretations suggesting the potential for 100-120 million tonnes of the resource"


----------



## YOUNG_TRADER (23 April 2008)

Sekgsi where did you get that from?

what do you mean "must have been told to remove this paragraph" ???


----------



## skegsi (23 April 2008)

yeh YT. It would almost be a trench not a hole!

Canegrass is such a small part of that windimurra tenement. I think the JORC (when it comes, did they say ?Oct in a previous ann) will only be an INITIAL target, there has to be more goodies in that much land.

I think the BIH results will maybe give the sp a little push, but i think once Sellheim starts and people see the easy cash coming in the sp just can't sit near it's NTA. That cash goes straight into Canegrass and surrounding area, and whamo the big JORC comes out! That's how it came to me in a dream anyway

ps I think BIH is great but may be a long way off if the local community don't want MXR sucking all the water out of their vineyards


----------



## skegsi (23 April 2008)

they had an another ann with exact same content but with that paragraph missing. On comsec anyway.

sorry YT i seem to keep posting when you are and it takes me longer to press submit so ends up looking like a disjointed conversation

ann 1: http://imagesignal.comsec.com.au/asxdata/20080423/pdf/00834873.pdf

ann 2: http://imagesignal.comsec.com.au/asxdata/20080423/pdf/00834987.pdf


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## YOUNG_TRADER (24 April 2008)

Ahhh thanks Skegsi,

I missed that, while 100Mt's-120Mts may not seem big for a Magnetite play I'm pretty sure its FerroVanadium there talking about, ie Mag with Vanadium, that being the case one only need look at WVL's current Resource which from memory is 120Mts-150Mt's FerroVanadium

I might give the company a call, ask them if they think their cursed given the SP performance


----------



## skegsi (24 April 2008)

Big kev on board room radio regarding yesterdays announcement. Been downloading too much and now being shaped so haven't even heard it yet. SOOOO SLOWWWW!!

http://www.brr.com.au/event/45059


----------



## TCB (28 April 2008)

Sunday Mail 27th April 2007 - Renato Castello.

"The Adelaide Hills may contain a treasure trove of nearly $100 million a year in gold, a mining company scouting the area believes.
And full-scale drilling to extract the fortune could begin by 2011.

The bedrock gold bonanza has been predicted after early investigations by Adelaide based mining Maximus Resources in the historic goldfields near Woodside,Echunga and Birdwood. 
The company will address this week's 2008 Paydirt South Australian Resources and Energy Conference in Adelaide about its Hills investigations.

Drilling at the former Bird in the Hand mine near Woodside has uncovered the potential for up to 250,000 ounces of the precious commodity.
On the current trading price - $949 an ounce - that deposit alone would be worth a cool $237 million.
And further investigations are continuing across a 3000sq km area stretching from Meadows in the south to Truro in the north.

Maximus Resources managing director Dr.Kevin Wills said the company was concentrating on the Bird in the Hand site, which produced only 10,500 ounces before it was closed in 1889 due to competition from Broken Hill.
Dr. Wills said preliminary drilling to 400m below the surface had revealed a potential yield of 50,000 ounces a year over a five-year life.
Depending on what is found at other locations, the once dormant mines could produce a total of up to 100,000 ounces a tear he said.

On the current trading price, that would reap about $95 million annualy.
Dr.Wills said the mines were never the world's "biggest" but he was confident of a good return.

Mineral expenditure has more than quadrupled in South Australia over the past four years, with exploration spending topping $330 million in 2007."


----------



## Lavender689 (30 April 2008)

Did any one your mining gurus ever look at and analyse WWI (West Wits Mining)?
WWI is a gold and uranimum mining spin-off from a large South African mining group. It is exploring on an existing gold mine which was mined years ago.

Merrill Lynch is one of the major holders of the stock.   the stock is mostly held by institutional investors. 


Awaits to hear your thoughts on this. 

Thanks, L


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## JTLP (30 April 2008)

Sheeesh...what happened to poor old MXR today. It had put in 2 nice days of green and today took quite a hammering? Any reason why>


----------



## roland (30 April 2008)

JTLP said:


> Sheeesh...what happened to poor old MXR today. It had put in 2 nice days of green and today took quite a hammering? Any reason why>




Well, if you look around, a lot of gold prospectors are sharing the same sort of bad sentiment (HEG, LGL, NCM etc.)

I've not known MXR to get any free rides from the traders, once they start pouring the shiny golden stuff into little rectangular containers - then watch out!


----------



## d_crome (1 May 2008)

Any idea what potential future announcements are due within the next 4 to 6 weeks?

Anything that DOESN'T involve gold?  Hopefully they'll release further details on those magnetic surveys and find a monstrous amount of Vanadium.... 

Obviously the market isn't very excited at this point in time with BIH given the rather lack luster performance today.


----------



## YOUNG_TRADER (1 May 2008)

d_crome I'd say that by far what we're all waiting for is the tonnage estimates at Narndee

They have the potential to really get MXR back on track and re-rate the company, otherwise I imagine the stock will range from 13c (NTA) to say 17c, either way Sellhiem production should shake the shackles off one hopes


----------



## Markcoinoz (3 May 2008)

d_crome said:


> Any idea what potential future announcements are due within the next 4 to 6 weeks?
> 
> Anything that DOESN'T involve gold?  Hopefully they'll release further details on those magnetic surveys and find a monstrous amount of Vanadium....
> 
> Obviously the market isn't very excited at this point in time with BIH given the rather lack luster performance today.




d_crome,

There is the follow-up drilling in May for the Canegrass.
As well, there is the bulk sampling to continue in May for the Sellheim project.

Cheers markcoinoz


----------



## d_crome (6 May 2008)

Alleged word on HC is that an announcement is due this week in regards to their drilling.

I'll believe it when I see it however!!


----------



## urgalzmine (6 May 2008)

d_crome said:


> Alleged word on HC is that an announcement is due this week in regards to their drilling.
> 
> I'll believe it when I see it however!!




someone is believing it, i have seen someone buy 250k shares for the last couple of weeks. I think on thursday/friday last week someone bought 250k shares * 3 I know that doest seem much but if you had a look at the volumes of shares that get traded by one person its pretty significant...

I dunno..


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## YOUNG_TRADER (9 May 2008)

YOUNG_TRADER said:


> d_crome *I'd say that by far what we're all waiting for is the tonnage estimates at Narndee*
> 
> *They have the potential to really get MXR back on track and re-rate the company*, otherwise I imagine the stock will range from 13c (NTA) to say 17c, either way Sellhiem production should shake the shackles off one hopes





Well I knew it,

After being on FDL I knew sooner or later Big Kevin Wills would do the same on MXR and what has he done today??

He's released a *1.7-3 Billion Tonne Magnetite target* for the company a mini FDL about to happen


----------



## d_crome (9 May 2008)

Announcement out - looks like they hit some serious levels of Fe and Vanadium out there!!

Good news for MXR holders today I'm sure.  I can go buy my Choc Wedge now.


----------



## mick2006 (9 May 2008)

this is a massive announcement, it will have steel mills all over the globe interested in talking with MXR regarding potential JV's.


----------



## YOUNG_TRADER (9 May 2008)

YOUNG_TRADER said:


> Hey guys,
> 
> *Also Herbert I remember reading and listening to Mr Kev's Fe targets, kinda reminds me of FDL where he came out of nowhere with a monster target, but for now I think little to no upside value is or should be factored in to MXR until we have some more work on the tennements*
> 
> *I think alot on here underestimate the value of Vanadium *





He he he he its good being right,

All I can say is I knew it I knew it I knew it, gald I'm holding over 1M at 14c avg 



a tonnage to approximately *400 metres depth of between 1.7 and 3.0 billion tonnes of magnetite*–bearing gabbro containing an *average 20 to 35% magnetite* is predicted to contain the “Excess Mass”. This magnetite-bearing gabbro can also be described as an “Excess Mass” of *vanadium-rich magnetite iron ore*.


----------



## benwex (9 May 2008)

YOUNG_TRADER said:


> He he he he its good being right,
> 
> All I can say is I knew it I knew it I knew it, gald I'm holding over 1M at 14c avg
> 
> ...




YT have you partially opened the bottom draw and taken advantage of the sp today??

benwex

I have been a MXR holder for a while and am still in the red althought it looks alot better today!


----------



## shaunm (9 May 2008)

Congartulations Young Trader & all other holders. Many thanks for your research and insight.
It's nice to have a win every once and a while!


----------



## smallfry (9 May 2008)

Agree with the previous post's sentiment.   The research has reassured me over the last few months, certainly glad I held, and continue to do so.

How about some crystal ball gazing YT?   What do you reckon this means in the longer term should big Kev's release match the reality?


----------



## YOUNG_TRADER (9 May 2008)

Hey Benwex, yeah I have as I was buying up so many around 13.5c-14c

It was a no brainer for me as the NTA was around 13c, I mean at 13.5c I kinda new that my max downside was 13c, but the upside given the plethora of ann's due was unlimited really

Also having been on FDL I knew what Big Kev was capable of in terms of ann's and also being on MDX told me what I oculd expect

I have taken a few off the table around 25c as I was holding waaayyy too many

Don't get me wrong, this is still spec and its only a target, but boy oh boy what a target


----------



## d_crome (9 May 2008)

Granted I'm no YT - but IF things all click into gear things for MXR look very bright indeed.

IF:

- Sellheim gets into production on time, you'll see a positive steady cash flow into the company coffers, this announcement would certainly maintain MXR's positive direction once the aura fades on the 3 bil Fe announcement

- The drilling results are favorable for the current Fe announcement (if you read the fine print these are ESTIMATES based on computer models from aerial magnetic survey) and confirm the estimated Fe resource - then this thing is booming.

IF MXR continues to provide news on a regular basis there's no reason MXR won't be trading at an SP similar to that of WVL at this point in time - if not, more than WVL.

WVL and MXR have an equal share issuance, yet MXR has now proved (per their current announcements anyway) that they're potentially even worth MORE than WVL.

Again - I'm not a financial guru - I'm just a village idiot who's enjoying his SunnyBoy from his hard earned profits, so don't listen to a word I say


----------



## benwex (9 May 2008)

YOUNG_TRADER said:


> Hey Benwex, yeah I have as I was buying up so many around 13.5c-14c
> 
> It was a no brainer for me as the NTA was around 13c, I mean at 13.5c I kinda new that my max downside was 13c, but the upside given the plethora of ann's due was unlimited really
> 
> ...




I did the same, reduced my position and still have a **** load of MXRAO..

Big kev dropped to massive bombs onto the market today. The Gold places MXR have been pushing with their humble gold resources of 13.5k ounces is not what MXR is and should be about IMO.

Anyway the dust will settle..

I have my doubts though about MXR long term strategy. I have spoken to Mr Wills and he is not looking for a company making mine like most of MXr's peers. He rather is pushing all of the different projects and pushing the companies resources where the opportunity is the greatest.

He did it with FDL and now thankfully MXR..

benwex


----------



## d_crome (9 May 2008)

BEN - glad you raise that issue.  I'm sitting here wondering what exactly separates MXR and WVL considering they have pretty much an equal level of shares on issue.

I'm sure WVL have a JORC supporting their Vanadium, but other than that, what else defines the difference between them?

Is Big kev just looking to spin this one off to the highest bidder and not develop a mine?


----------



## enigmatic (9 May 2008)

Another one of those which I'm quiet happy to hold. Even 1.7Billion is alot of resource. if they can prove it and get it up and running it will be a multi bagger. prime comparison CFE 1.6Bil with 30%FE selling its Mine for 400million.


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## Gekko (9 May 2008)

YOUNG_TRADER said:


> He he he he its good being right,
> 
> All I can say is I knew it I knew it I knew it, gald I'm holding over 1M at 14c avg
> 
> ...







YT thankyou!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I bought alot at 15c after reading your research

First IRC then GCR now MXR

Thank you thank you thank you

whats next?


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## YOUNG_TRADER (9 May 2008)

Hey guys,

lol thanks for the kind words and the kind pm's

This really makes me happy when we all on ASF can buy a stock and have it go up 100%+

Those who paid attention around 14c-15c are being handsomely rewarded

There is a hell of alot of volume going through today, alot more than just traders me thinks,


This is a big call I know but I'd say that we will see a  "Becoming a substantial shareholder" notice in a few days the volumes today are now over 1/3rd of the total stock on issue


----------



## benwex (9 May 2008)

YOUNG_TRADER said:


> Hey guys,
> 
> lol thanks for the kind words and the kind pm's
> 
> ...




very big call...

It was not that long ago that MXR went cup in hand and ended up hitting up the share holders. I am sure an institutional investor would have been the prefered option  for the pultry $15M that they raised through a share placement at 20c which drove the price down hugely..

These 2 iron ore projects were always in their portfolio and surely the instos are not that much asleep at the wheel??

I have in a former life worked for a capital markets team in a bank with a great presence in the resource sector and they are pretty much all about bank feasability studies and proven resoures...

I would not like to go to investement committee with MXR at the moment!

just my thoughts.

benwex


----------



## juw177 (9 May 2008)

Thanks YT. By the looks of it, the speccies in your portfolio must have had a windfall profit in the last week.


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## JTLP (9 May 2008)

YT I COULD KISS YOU!!!

ZOMG YEAH BABY COME HERE LET ME PLANT ONE ON YOUR LIPS!!!

Haha thanks a million son. I was at work, checked the shares and was rubbing my eyes in disbelief...

Whoever held the options...MXRO...kudosssssssssssssssssssss

Thanks YT


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## inefekt (9 May 2008)

any short term predictions on this stock? ie next few days
will it come off a bit later today then go for a big run Monday morning?
I'm thinking the media release won't get published in major newspapers til the weekend which hopefully will generate even more interest. I googled MXR and only one news site is reporting this.
Stock is still buy heavy atm.


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## YOUNG_TRADER (9 May 2008)

again thanks guys

I can't get over the volumes going through, MXR has well and truly been re-rated

I've took some more profits at 30c though and am now going to trade around, am holding a nice free carried portion too


JTLP, what sort of Kiss are we talking here? :

Also re the options someone managed to grab about 140k from 0.009 - 1.8c this am, I wonder who that was


----------



## tigerboi (9 May 2008)

I know this much about the dr willis..hes a master of the desktop exploration announcement,done it at FDL(they got 7m MXR) with the "concept" anns,now again with MXR  the "state of the art" computer modelling..sign him up now!hes punched FDL 1400% on a concept & MXR 115% on a target..

He aint drilled a hole in either yet,BMY quick sign him up,good luck to holders.tb.


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## hsv2001 (9 May 2008)

Hey, I brought some of the options today MXRO, and noticed they are June 08 options, what does this mean? What happens to them in June ?


Thanks, and what a great day, got in this morning at 18c p/s 

Just wish I got into the options earlier 1300% 

Marc


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## njc.corp (9 May 2008)

tigerboi said:


> I know this much about the dr willis..hes a master of the desktop exploration announcement,done it at FDL(they got 7m MXR) with the "concept" anns,now again with MXR  the "state of the art" computer modelling..sign him up now!hes punched FDL 1400% on a concept & MXR 115% on a target..
> 
> He aint drilled a hole in either yet,BMY quick sign him up,good luck to holders.tb.




Tiger-do u think he is an other andrew forrest kind of material-(but forrest is starting to deliver lately)

i listen to the audio broadcast on bbr and it seems to me he has a decent gab of the mouth on him

Whats your view-?

Thanks

Nick--


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## thewahaman (9 May 2008)

Congrats all who gained out of this, especially those with the patience to hold and top up over the past few weeks. 

Hey I just realised - MXR was my tip in the annual stock tipping comp this year


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## Markcoinoz (10 May 2008)

tigerboi said:


> I know this much about the dr willis..hes a master of the desktop exploration announcement,done it at FDL(they got 7m MXR) with the "concept" anns,now again with MXR  the "state of the art" computer modelling..sign him up now!hes punched FDL 1400% on a concept & MXR 115% on a target..
> 
> He aint drilled a hole in either yet,BMY quick sign him up,good luck to holders.tb.




Tigerboi,

That is not correct.

MXR did drill 16 holes in January.
One of the drillholes at Canegrass had 1.16% of Vanadium which is a much higher grade than WVL with .47%.

They have a big target considering their figures are based only on 1 block.
There are another 4 to go.

Cheers markcoinoz


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## smurfette (10 May 2008)

120% mxr. 1300% mxro. 

I am speechless.  YT, thank you aplenty. Another big winner hey? 
What are you doing with those profits? Beer, wine, champagne, cavier, clothes, bank or shares?

Smurfette


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## tigerboi (10 May 2008)

njc.corp said:


> Tiger-do u think he is an other andrew forrest kind of material-(but forrest is starting to deliver lately)
> 
> i listen to the audio broadcast on bbr and it seems to me he has a decent gab of the mouth on him
> 
> ...




Well atm he certainly aint no twiggy but hes trying to do a twiggy by ripping out the big anns to get the capital needed..my thought is willis will bring FDL & MXR together,id say that is what he is thinking about for the future..

Now doing desktop exploration,SOTA(state of the art)computer modelling is one thing but the next 2 things need to be done or its not on..

1.Capital

2.Transport(I work in this industry)

Its one thing to find 1bt of IO but you then have to get it to port.take AGO as a recent example.has anyone crunched the numbers as to how they are going to get ALL their tonnage out of abydos & turner river behind FMG'S curent 45mt??FMG has to upgrade the port & need to use bhp's line for the extra 10mt per year,where does AGO fit?(AGO will be eaten by FMG once they get the cash coming in)

AGO up at pardoo have a target of 14mt which they have to run to pt headland at 100t at a time with quad roadtrains,MMXrun the same 100t out of the mid west on a 1200 km round trip,this transport costs huge amounts of money,AGO also has 2 projects in the mid west like MMX,so until the railway to geraldton is finalised AGO will have to run the same as MMX gonna burn lots of cash,so the midwest will see more takeover/merger action.

Take the young BMY i like,they are north east of AGO & between BHP at goldsworthy right on the railway line,up at pardoo/telyagel their IO tenements are a contigious strike on the bhp nimingarra formation,they have the highway running through the tenements,the IO will go by conveyor to the coast,that shows how close they to the coast are. so goldsworthy on the rail,pardoo on the conveyor.huge costs taken care of by that geographical advantage.

my conclusion..fdl/mxr merger a big chance..
midwest consolidation must happen...mis,mmx,gbg,wgr..plus others

The 2 i like are on the coast,BMY & ARH(they are a sleeping giant...)


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## tigerboi (10 May 2008)

Markcoinoz said:


> Tigerboi,
> 
> That is not correct.
> 
> ...




I stand corrected on that point but you forgot to mention the good dr willis did not release the 16 hole results...only the best hole!..44% magnetite,wow look out...master of the claytons exploration anns.
state of the art computer modelling for 44% mag. but anyone who offloaded for 100% then good on you...


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## njc.corp (10 May 2008)

tigerboi said:


> Well atm he certainly aint no twiggy but hes trying to do a twiggy by ripping out the big anns to get the capital needed..my thought is willis will bring FDL & MXR together,id say that is what he is thinking about for the future..
> 
> Now doing desktop exploration,SOTA(state of the art)computer modelling is one thing but the next 2 things need to be done or its not on..
> 
> ...




Tiger-thanks for the quick reply-

very good reading-
 will do some homework on over the weekend on the others u have mention to c if i can understand what could happen-

from a basic point of view cost is the key here as u have mention-

Thanks

Nick--


----------



## Markcoinoz (10 May 2008)

tigerboi said:


> I stand corrected on that point but you forgot to mention the good dr willis did not release the 16 hole results...only the best hole!..44% magnetite,wow look out...master of the claytons exploration anns.
> state of the art computer modelling for 44% mag. but anyone who offloaded for 100% then good on you...




Tigerboi,

Wrong again!!!!

The results were released in the quarterly.
5 holes of the 16 were released which were of significance.

MNRC0006    0.84
MNRC0007    0.85
MNRC0012    0.38
MNRC0016    1.29
MNRC0017    0.89

The other point.

When you are talking about infrastructure - transport, doesn't it stand to reason that WVL and more importantly the Noble Group will be very interested
in the results of the Canegrass?

Considering that all infrastructure - transport and the 20 year life of the mine  that WVL are aiming for to be in production by end of this year and given that all V205 has been presold over the entire 20year period, the real issue comes down to when will WVL/Noble make their move in a JV or other with MXR.

Not a question of "If" but "When".

There is no way known that FDL/MXR will join forces.
Don't know where you get that idea from.

If anything MXR may spin out the I/O separate to the Gold as a separate company exactly what they have recently done with FDL.

MXR already has many assets.

When the Canegrass has been drilled and Jorced then we will see some real action.

As for BMY, if you want something really in the hotspot check out UMC.
Their tenements are smack in the hub of all 3 big boys right next door to Block C.  

As for MXR, they knew about the Vanadium potential along time ago.
That was why they bought the remainder of the Windimurra Complex.
Mark Creasy had previously owned a large block of it.

He also owns a large chunk of MXR.

The thing that changed the landscape was when WVL (PMA) announced the deal with Noble Group.  That is what changed the landscape including the Vanadium prospect.


Cheers markcoinoz


----------



## tech/a (10 May 2008)

I'm interested to know from those that were lucky enough to hold this stock through friday.

(1) Who sold out on Friday.
(2) Who's selling on Monay.
(3) Who's made 100% and going to hold it.If so when would they sell?


----------



## njc.corp (10 May 2008)

tech/a said:


> I'm interested to know from those that were lucky enough to hold this stock through friday.
> 
> (1) Who sold out on Friday.
> (2) Who's selling on Monay.
> (3) Who's made 100% and going to hold it.If so when would they sell?




Tech- i am in  the 100% group and i will still hold-i will sell at anything over .50

if u ask me why i did not sell-i will tell u that i am ready to loose what i  have invested as it wont effect me to much all as i am not in a hurry-- 

I hope i dont come across as up-myself as i am not-

Thanks

Nick--


----------



## tigerboi (10 May 2008)

Markcoinoz said:


> Tigerboi,
> 
> Wrong again!!!!
> 
> ...




Mate im not interested in vandium i wanted to know about the iron ore,what are the fe% of the 16 drill holes??as i said all i could find in regards to io was the 44% mag...me i wanna see 1 thing io fe % nothing else,thats what i first talked about IO.can you steer me to those results? i looked in the quarterly report on this tenement for those things but cant find,but it does say 44% mag was the best...tb

got me confused here until i looked up wvl,however as i said i was talking about the mxr/fdl IO drilling not anyone else.


----------



## d_crome (10 May 2008)

Tiger - thats the whole point - it's NOT an FE play - it's a VANADIUM play.

What I don't understand from your transport infrastructure concerns are that these have ALL been addressed by WVL - I suggest you go read their web page and summary of their project.

Per there project - which is due to come on-line late 2008 (and, by the way, is ENTIRELY SURROUNDED BY MXR) 

_Roads
The mine is located approximately 80km south-east of Mt Magnet. The Great Northern
Highway runs from Perth to Mt Magnet and access to the site is via the Mt Magnet to
Sandstone road. The Sandstone road is a sealed, all weather road up to the Youanmi
turnoff. The section of the Youanmi road from the Sandstone road to the mining lease is
approximately 21kms long and is in good condition.
Unpaved public roads are regularly graded by the local Shire and are constructed to a
sufficient standard to operate efficiently for the traffic demands placed upon them.
The mine access road is all weather and has been sheeted with bitumen from the village
area to the administration area located at the plant._

As you can see, these guys won't have ANY problem shipping their VANADIUM (not IRON ORE).

If you hold, good luck to you, if you WISHED you'd held and figured you'd just downramp for the sake of it...well good luck to you too. 

TECH/A - I'm holding too, over 100% now and figure this thing has a LONG way to go considering the SP of the adjacent WVL project.


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## JTLP (10 May 2008)

tech/a said:


> I'm interested to know from those that were lucky enough to hold this stock through friday.
> 
> (1) Who sold out on Friday.
> (2) Who's selling on Monay.
> (3) Who's made 100% and going to hold it.If so when would they sell?





(1) I sold out friday
(2) N/A
(3) I made ~112% and decided to sell. My theory is that it will cool off come Monday/Tuesday and if i'm still interested will hopefully be able to get in at a lot cheaper price.


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## tech/a (10 May 2008)

Y/T.

You must trade with near enough to a million.

1 mill at .14c is $140,000.
You must have at least 8 times that sitting in stock just as this was from your posts on various threads.
But taking some profit on Friday may well prove wise (after an initial burst Monday).


----------



## Markcoinoz (11 May 2008)

tigerboi said:


> Mate im not interested in vandium i wanted to know about the iron ore,what are the fe% of the 16 drill holes??as i said all i could find in regards to io was the 44% mag...me i wanna see 1 thing io fe % nothing else,thats what i first talked about IO.can you steer me to those results? i looked in the quarterly report on this tenement for those things but cant find,but it does say 44% mag was the best...tb
> 
> got me confused here until i looked up wvl,however as i said i was talking about the mxr/fdl IO drilling not anyone else.




The Quarterly i was referring too was 1/02/08 Page 8

35.4% - 37.2% - 37% - 44.2% - 38.3%  Table3. Fe Percentages.

Its all there in black and white.

If you are only interested in Fe, i think you are wasting your time with MXR.

Whats more the only comparison that i can see is FDL & MXR have the same CEO.  Thats no big deal unless you think K. Wills being a CEO of both companies.  Considering MXR was spun out from FDL and Wills was the best man for the job given his knowledge and experience, i don't see a problem at all unless he can't devote equal time.  

Considering FDL are aiming for Hematite and MXR are into Magnetite with the V205 being the name of the game, there is no similarity whatsoever.
One hasn't drilled any holes whilst the other has drilled a few holes.

Do yourself a favour and stick with your ARH & BMY.

Me, i will stick with MXR for the V205 as i have done so for well over a year already.  

I wouldn't touch a Magnetite company in a fit unless it had something special to go with it.  V205 is the only reason in what makes MXR's Magnetite special along with the fact that its sitting within a stones throw of WVL which will be one of the largest low cost producers of V205 in the World according to their annual report.  Thats worth the risk IMO.

For I/O i like to go for top shelf.

Thats why i have UMC and BCI as my Fe specials.
UMC is the standout.

Cheers markcoionoz


----------



## inefekt (11 May 2008)

tech/a said:


> I'm interested to know from those that were lucky enough to hold this stock through friday.
> 
> (1) Who sold out on Friday.
> (2) Who's selling on Monay.
> (3) Who's made 100% and going to hold it.If so when would they sell?




1 - Bought in early Friday, still holding
2 - Expecting the stock to at least run in the morning, still got huge upside I think but hoping that Friday's losses on the DOW don't hold back this stock come Monday, if it does it'll only be very short term. Definite hold on this stock, wanna buy lots more actually. Monday will be a 100++ pt loss on the All Ord's, hope it doesnt scare off MXR holders, leading to panic selling. That would be unwise.
3 - not quite 100%.........yet.


----------



## benwex (11 May 2008)

tech/a said:


> I'm interested to know from those that were lucky enough to hold this stock through friday.
> 
> (1) Who sold out on Friday.
> (2) Who's selling on Monay.
> (3) Who's made 100% and going to hold it.If so when would they sell?




(1) I sold out everything including my MXRO
(2) n/a
(3) n/a

Just to elaborate. I have followed MXR for a while and bought in at 35c, 30c and took up the capital raising at 20c...

I had lost my faith in MXR and was sitting on a bad loss (down more than 50%) up until friday, so when I saw the opprtunity to get out even I took it gleefully...

Good luck to you all, i might buy in again but think that friday was MXR's day in the sun for a while.

time will tell.


benwex


----------



## tigerboi (11 May 2008)

Markcoinoz said:


> The Quarterly i was referring too was 1/02/08 Page 8
> 
> 35.4% - 37.2% - 37% - 44.2% - 38.3% Table3. Fe Percentages.
> 
> ...




yep i am aware of UMC as a good io play but as with others that far into the pilbara...transport is the biggest problem,yes their md is ex bhp but it dont mean they will just hand over their railway line,as i pointed out with AGO they gotta run quads 100k for their 14mt(their cash cow) out of pardoo & they will be fighting for line access for abydos&turner river...

who will end up the 4th force?,but you look at ARH(yep its mag but its all done,finance,chinese steel mill,etc...) & my spec BMY(giant strike at pardoo/telyagel for io,going by conveyor.priceless advantage) both that close to the coast you can pick up a rock of hema/mag & throw it on a boat...

Transport of the io is gonna get competitive,forget FMG they are sweet,now draw a circle around all the io hopefuls in that area such as AGO,UMC,FDL,BCI,BRM...plus others not on the top of my head...

Theres your problem...capacity,what gives when FMG goes to 55mt when they upgrade themselves then onto 100mt in a few years around the same time some of these hopefuls are looking to get their io to port?

Why do you think fmg took bhp to court for access?they will need both lines to go 100mt... & beyond..

The other smaller io miners must get together to form a 4th force behind rio/bhp/fmg,otherwise they will be all standing around at the bottleneck saying yep its out of the ground but cant get it on a train,besides like any business why would you do your competition any favours.

If some of those 4th force hopefuls put together say a super merger of the top 4-6 in the area then they with their combined resources would have themselves real power,but if they sit back in their own world & not looking to the looming bottleneck threat,then they will get picked off by the top 3...no risk about that.

Who are the top five in the pilbara area outside the top 3 of rio,bhp,fmg..by MC & (target) resources??...tb


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## YOUNG_TRADER (11 May 2008)

tech/a said:


> Y/T.
> 
> You must trade with near enough to a million.
> 
> ...




Tech I don't trade really,

I buy undervalued stocks that to me are fundamentally undervalued and then I wait for a re-rating such as MXR experienced on Friday from 13c-15c to 16c-30c+


I was saying all along at 13c-14c MXR was a low risk play because of its NTA beign 13c and so was happy to hold alot of shares as to me they were low risk

At current levels though MXR has been re-rated, so how much upside or what it will do next is anyone's guess

p.s. had around that amount Tech


----------



## ans25 (11 May 2008)

Im literally thinking about entering the market again for MXR, I sold abt 1 month ago, I couldn't stand it and didnt have teh patience and look at it now 
Oh well some you win some you lose and some you just miss out.

But anyways whats the predicted outlook on this for the short term? Anyone know?

Thanks, great thread guys.


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## d_crome (12 May 2008)

Tech/A - mate, care to tell us your thoughts of todays trading?

I notice the SP is only 5 cents down, thus within the 25%-50% expected retrace after a day like Friday...what do you make of all this?


----------



## roland (12 May 2008)

I sold out at .26, I didn't see a lot of use of riding it up and not take profits, then watch the silly thing fall flat again.

Personally I think MXR was driven harder through forum hype, justified or not, I am happy to take profits and run away ... I can always come back to play another day


----------



## d_crome (12 May 2008)

Cheers Roland - I'm glad you could know where to call it a day - I wish I could!!

I've been a holder prior to the Seliheim announcement and yeah - if you read my posts back then in regards to MXR you'd certainly understand my predicament.

I really disliked the management style of MXR - however we now have a potentially huge find, so huge infact that you could have Alan Bond and Christopher Skase at the helm of MXR and I'd still be holding.

So on one hand I see huge upside - on the other, doubt that this was a managerial pump to get their options across the line.

Decisions, decisions....


----------



## robzilla07 (12 May 2008)

hi all,
kind of new to all of this, watched this stock over the last few weeks congratulations to all of those who held.
Just out of interest, this may sound stupid, but im new to options. But in this case how are the options price relivant to the actual share price. Obviously they expire in june with the price at .20c, so if the share price hovers around 23-30 cents and the options expire, what will that mean for the options price?
Sorry if im not making sense, but im kind of confused as to why the options have dropped so low when the share price is maintaining above 20Cents? or maybe i dont understand options properly?

But yeah, in conclusion, could someone please clarify to me how the options operate in this situation? and what the ideal outcome would be for those who held?

thanks.


----------



## daggs (13 May 2008)

I noticed WVL jumped 30c in the last 2 trading days on no news.

WVL will be operating on 0.46% V205, The one hole I've seen of MXR's has 1.2% V205.

Will be very intering if MXR can prove up a higher quality resource than it's neighbour.

P.S - Thanks for the heads up on this one YT, I'm holding nearly free carried now


----------



## agro (15 May 2008)

momentum seems to have re-emerged,

is it true also the chairman of FDL is on the board of MXR?

iron ore...


----------



## adamim1 (15 May 2008)

These worth buying at the moment? Or better to wait and see where its heading.....?

Got no idea where this is heading - anyone got any news?


----------



## tigerboi (15 May 2008)

adamim1 said:


> These worth buying at the moment? Or better to wait and see where its heading.....?
> 
> Got no idea where this is heading - anyone got any news?




You missed the boat mate as you needed to get in around 13-15c as per YT reccos..if it was me id stick it in around 19c see what happens...tb


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## enigmatic (15 May 2008)

I would say you dont have to many more months left before it wont hit 15c again. so adamim1 i would say you have missed the boat but there are sometime more then 1 boat so watch and get on board once you done enough research to validate getting in. with 1.7billion-3billion possible tons we all could be saying that getting in at 25c will be cheap. 

always better to sit back and DYOR and miss out then to jump in and lose out


----------



## d_crome (16 May 2008)

The key issue you have to understand here is the June 08 options the MXR board hold - if the SP ISN'T above 0.20 during the time of exercise, the MXR board will stand to lose approximately 6 million and change.

So how does this affect if you should buy in or not?

Well - I believe friday's announcement surely gives you some idea as to how the wheels that run MXR actually work.  They're VERY good at generating interest, the same chap runs FDL so he's a sharp opperator.  If you'll note that with the 1.3-3 bil announcement they stated the drilling campaign will also start in May - so they're drilling right now.  This is where MXR will be made or broken, poor results and MXR is back to being a small time gold prospecter and you'll see the SP tank back down to the low teens again (13 cents is NTA on this one - so if you got in (like most here did) at 13-15 cents, you really have zero downside at these levels - again, thanks YT for nailing this one!).  

HOWEVER - if I were MXR and I had options expiring shortly AND I had a market already highly interested (i.e. a 110% SP increase in a DAY) I'd be releasing "updates" to the drilling campaign to maintain or slightly elevate the SP prior to the options expiration.  If they get some solid hits, this thing will serious rocket.

The risk at entry at these levels (mid 20's) is certainly there IF poor results are concluded.  A low 20's entry is probably the best you'll see till June - then the horse will either bolt or they'll take it out back and put it out of it's misery - either way you're going to see movement.

Heads or Tails bet at this point.

Again - I know I'm discounting the OTHER projects MXR has, but in all honesty the current FE play is all the market has shown any remote interest in.

Again - just my brief opinion - I'm not a financial advisor so do your own research and if you lose your shirt it's your own fault! 

GOOD LUCK TO ALL HOLDERS!!


----------



## hsv2001 (16 May 2008)

hey guys,

just wondering what you people think the potential of the share price will be if they reach their target of 1.7 - 3b? I'm thinking of going into this for mid term ie. after the initial drilling results and getting in now around 23c. I just believe that given how sensitive and reactive the market was to last weeks ann, i just believe there is more to this company and wanted to know what you people who have been following it all this time (Young Trader?) think the share price potential is?


Thanks for any input
Marc


----------



## d_crome (16 May 2008)

HSV - the trick to MXR ISN'T the Iron Ore - It's the VANADIUM content within the ore that makes MXR such a promising site.

MXR's project encompasses WVL's VANADIUM project - just to give you a point of reference here, similar amount of shares on offer, MXR is at 0.23, WVL is at +$2.50.

Basically if MXR can produce results, the Canegrass finding will prove to be huge financially.

Also - MXR DO have other interests, namely gold - many who hold MXR were in it for that very reason, the Vanadium/Iron Ore find was a cherry on top.

If you get in and this goes north - maybe you can upgrade that HSV to an AMG? 

Again - DYOR before you make any investments as I'm not a financial adviser.


----------



## adamim1 (16 May 2008)

d_crome said:


> The key issue you have to understand here is the June 08 options the MXR board hold - if the SP ISN'T above 0.20 during the time of exercise, the MXR board will stand to lose approximately 6 million and change.
> 
> So how does this affect if you should buy in or not?
> 
> ...




If that is the case you wouldn't think the shareholders would let it go under .20c. They would be their own demise...? Or am I not understanding this correctly.

Does anyone know the SP potential in the short term or long term if the news is good in June?


----------



## d_crome (16 May 2008)

If the results are favorable - I suggest you have a look at the current WVL share price, that'll give you an idea of what MXR could be in store for.


----------



## adamim1 (16 May 2008)

"Maximus completed a detailed 500-metre spaced gravity and high-resolution aeromagnetic geophysical survey over the entire Canegrass prospect in February and March this year."

Does anyone know how accurate these surveys are?


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## d_crome (21 May 2008)

Anybody know the exact date the MXRO options expire that the MXR board hold?

Given the drop in SP and the short window we have till June, I'm willing to bet another "favorable" announcement is just around the corner to get that staggering SP across the finish line.

Again - just my 2 cents.


----------



## hsv2001 (21 May 2008)

Hey, I'm pretty sure the option expiry date is 30th June 2008. But why would a drop in share price indicate a positive ann soon to be released based upon the expiry of options? if you don't mind me askin.

Marc


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## d_crome (21 May 2008)

MXR holds about $6 mill worth of MXRO that are exercised at $0.20 - hence it's in their interests to have a higher SP at the point of expiration.

Call it pessimistic but you can't help but think the previous announcement was to get the SP moving again and little else.


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## adamim1 (22 May 2008)

Well i hope so. I bought in @ 21c. I'm slightly anxious that it is sitting at 19c. It is the 22nd today so they better bring up some sort of announcement.


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## d_crome (29 May 2008)

What???  No post yet a great announcement??!!

To continue with the drama that is MXR @ Canegrass....

_- drilling results Dec 2007 show magnetite concentrates grading up to 59 %

- concentrates also contain vanadium pentoxide grades of up to 1.5 %_

These drills were taken FRACTIONALLY OUTSIDE of the MAJOR resource locations indicated by the gravitational survey - basically indicating that if it's THIS good on the FRINGE - how good will it be smack in the middle of it???

SP hasn't really rocketed up like I'd have expected from an announcement like this, but overall it's great to see.

Again - I'm not a finance guru - just a village idiot so please DYOR!


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## adamim1 (29 May 2008)

You know what, i bought into this, and sold out and free up some cash to put some into MAK. LOL, put some into MAK and it goes down and this goes up by 12%. What a wonderful world.

I need more patience and confidence.


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## smallfry (10 June 2008)

Trading halt today... some more Canegrass results out tomorrow by the looks.

Are we expecting something big or is it big Kev's sense of the dramatic once again?   If the last Canegrass announcement is followed up in similar fashion tomorrow I'd be surpirised if the big lift off everyone's been expecting isn't too far off.   Other views?????


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## d_crome (10 June 2008)

I think (well, lets be honest here, I _HOPE_) that what we'll be seeing shortly is the combining of the 2 previous announcements.

i.e. They have 1.6 to 3 Billion Tonnes of Vanadium rich FE:

AND

They have much HIGHER grades of FE and Vanadium as refered to in their second announcement (the one that generated next to zero interest from the market!).

The hope here is the 1.6 to 3 Billion Tonnes of originally estimated 25-35% could now well reflect a much higher grade (as indicated in the second announcement).

If this is the case - WOW.

If not - it's potentially just Big Kev doing what he does best really....

Again - DYOR as I'm not a financial expert, just a retard with a keyboard


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## JTLP (10 June 2008)

Defining of Resource to commence on the 11th of June.

I may follow my own advice and pick up some MXR...the company wouldn't want to see $7.5 mil (from the expiring oppies) down the tube now would they!

Let's see how things pan out...


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## YOUNG_TRADER (10 June 2008)

Hmmm didn't realise that the 1.7Bt - 3Bt mag target was from Block 1 of 5 potential Blocks,

Thats just nuts! How much mag do these guys think they have in those other blocks?


Surely they can't have 4x-5x their intial 1.7Bt-3Bt target? that would be just ridiculous

May go for a run, lets see what Mr Market thinks


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## d_crome (10 June 2008)

Market thinks this ain't much unfortunately.

Could be a case of the Boy that cried Wolf unfortunately given Big Kev's previous track record....

Who does MXR have to $@# to get a break around here? lol


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## YOUNG_TRADER (10 June 2008)

Big Kev did his job getting this from 13c to well above the 20c options exercise price,

I am sceptical that MXR could have 15Bts of Mag ie if all 5 blocks host the same amount, but then again he never said that,

Either way was a no brainer buy at 13c, at these levels not sure,

Will be interesting to watch the story unfold


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## shaunm (10 June 2008)

YT I am confused by your sentiment on the latest info. It almost sounds like you don't believe (or don't want to believe) that anything more than they have estimated is possible?

Yours and other posters research and feedback helped me get into this baby at 13 cents (thanks again) so I was expecting more of an excited reaction at the potentail.

Could these guys have THE motherload that makes everyone sit up and want a piece of; every day it is sounding more & more promising.


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## nyo (11 June 2008)

Todays BRR interview with Dr Kevin Wills

MXR - First Drillhole At Canegrass Intersects Abundant Magnetite - Dr Kevin Wills, MD

http://www.brr.com.au/

Audio Duration: 03:51

MAXIMUS RESOURCES LIMITED (MXR)

Wednesday, 11 June 2008 11:00am AEST


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## enigmatic (13 June 2008)

Good to see another announcement backing up the possible 1.7billion+ tonnes in this block alone.
A little off topic though. i orginally bought this for the gold play of Sellheim and Bird in hand. I was wondering if anyone knew when Sellheim was expected to start, I was sure it was arround mid year as I'm looking towards Bird in Hand these two will definitely help with defining the ore body at Canegrass.


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## d_crome (16 June 2008)

Only 9 more days and counting till MXRO expires.

After Kev's recent market announcement failures in generating a higher SP MXR management better have the Easter Bunny to pull out of hat else I believe the MXRO will be worthless.

Time will tell I'm sure.


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## cordelia (16 June 2008)

d_crome said:


> Only 9 more days and counting till MXRO expires.
> 
> After Kev's recent market announcement failures in generating a higher SP MXR management better have the Easter Bunny to pull out of hat else I believe the MXRO will be worthless.
> 
> Time will tell I'm sure.




I am not really familiar with options but with the options expiring soon what is likely to happen to the share price


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## d_crome (16 June 2008)

Cord - MXR management hold a significant amount of MXRO due to expire June 30th but effectively June 25th is the last day.  The options excericse at 0.2.

If MXR can get the SP above 0.2, the funds raised will assist them in further exploration of their projects - after all, drilling isn't cheap!

At this point in time you have a market thats trying to keep the MXR price low such that they can come in and buy MXRO's from holders who have lost faith or believe they'll not be worth cashing.

Basically it's a tug of war right now.  It'll take some serious announcements from MXR to break the hold these traders have at this point.

DYOR - as I'm no pro and these are simply my opinion.


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## Markcoinoz (16 June 2008)

Hi d_crome,

I sold out of all my MXRO the other week while i had the chance.

Was thinking of buying back in on "Deaths-door" so to speak for a fraction of the price.  However, i am a tad pessimistic if Big Kev can get them over the line.

I think he has to pull a rabbit out of the hat tomorrow or Wednesday to stand any chance of converting a large proportion of the options.  

You only had to look at last week's announcement to see how quickly mxro fell back down to earth.

I will be definitely be watching with interest.

However, i don't think i will play this time around.

May look at buying a few more MXR over the next few weeks if they don't get the options exercised.

Cheers markco2


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## d_crome (17 June 2008)

G'day Marco,
                  I didn't bother with MXRO, just holding MXR since the pre Sellheim days, so I've simply held at this point - granted should have sold on the initial 1.3-3.0 bil announcement (or ramp depending upon your point of view).

I guess the thing that catches my eye with MXR is that with all this "good" news, the SP magically sticks very close to 0.20 - this tells me there's something going on in regards to the options.

My gut says the options will be worthless - BUT - after they expire, I think the SP will climb north.  

IF they can achieve a JORC'd resource by September/October as I've been reading, this could well get MXR out of it's current quagmire.

Depends upon your stomach for risk and window of investment opportunity I guess.

GL to all holder, be they past, present or future. 

PS - again, DYOR as I'm just a guy with an ill informed opinion.


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## benwex (18 June 2008)

benwex said:


> (1) I sold out everything including my MXRO
> (2) n/a
> (3) n/a
> 
> ...




Well time has told and I think Dr Kevin Wills has done it agian... 

A master at the corporate ramp!

Those 2 announcements with estimates ( 1.5 to 3 billion tonnes) based on sophisticated modelling from airbourne surveys?? what a load of crap!

What is happening with the gold operation at Sellhiem??? or is MXR now an IO company... whats hot next phospate??? undersea mining??..


benwex


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## d_crome (18 June 2008)

3 Trading Days remain for the MXRO to be exercised.

Given the previous announcements they're going to have to work a miracle...


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## cordelia (19 June 2008)

d_crome said:


> 3 Trading Days remain for the MXRO to be exercised.
> 
> Given the previous announcements they're going to have to work a miracle...



why would options, that may seemingly be worthless in a couple of days, be exercised, especially when it is cheaper to buy the actual share?

any ideas


----------



## smallfry (20 June 2008)

MMMMM... announcement out today - free options for shareholders with holdings as at 18th July.   Big Kev getting out the steak knives???

With so much potential (on paper) he's not doing himself any fav's with these strategies.   What do others think of today's announcement?


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## enigmatic (21 June 2008)

I guess if there are free 20c options might shoot the sp above 20c its always nice to get free carried options for a Specy stock with the possible tonnages that MXR has. Just my thought. increases the chance of those current options being converted to shares, and free options is a nice reason to buy into a specy, means 25% extra cash likely on top of there current cap in one years time. 

Just my thoughts DYOR


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## shaunm (21 June 2008)

smallfry said:


> MMMMM... announcement out today - free options for shareholders with holdings as at 18th July.   Big Kev getting out the steak knives???
> 
> With so much potential (on paper) he's not doing himself any fav's with these strategies.   What do others think of today's announcement?




I think that is an opportunity to secure a long term holding at little cost.
If you got in prior to the big ann. last month you are in the green so it's a chance to increase your head holding prior to 18 july and then get a whole stack of oppies "gratis". The potential for this stock is massive so you could be fairly confident that in June 09 the share price should be somewhat higher than 20c. Going on the size of the tenemants and the results so far (especially the vanadium grades) you would be forgiven for feeling slightly bullish about MXR's future.


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## d_crome (25 June 2008)

Announcement out - further drilling results in Block 3 of 5.

HIGHLIGHTS

• Drilling has been progressing on a second
Canegrass gravity target at Block 3 which
contains an exploration target of between
200 and 300 million tonnes of gabbro
containing 20–40 volume % magnetite.
• The 200–300 million tonne target is in
addition to the previously reported 1.7 to
3.0 billion tonne Block 1 Canegrass target.
• Block 3 assay and visual drill results to
date show intersections of abundant
magnetite.
• Assays for reverse circulation hole
MNRC38 indicate 35 weight % total iron
over a true width of 54 metres.
• Visual estimates and geophysical
measurements from Hole MND2 average
25–40 vol % magnetite over 56 metres.
This includes zones of up to 7 metres
averaging around 50 volume % magnetite.
Note: Due to the high density of
magnetite at 5.2 gm/cc, 30–40 volume
% magnetite is equivalent to 44–55
weight % magnetite in Canegrass
gabbro (density about 2.8 gm/cc). This
is equivalent to about 32–40 weight %
iron in magnetite in Canegrass magnetite
gabbro rock.

My Particular notice however was directed at the last paragraph of the announcement:

"The objective of drilling currently underway is to understand the
distribution of magnetite and its iron, titanium and vanadium
contents over the larger Canegrass area. A following program
will then be able to focus on resource drilling in the best areas.
Subject to work approvals from the Western Australian Department
of Industry and Resources, Maximus will complete
further diamond and RC drilling at Canegrass over the coming
months. This will enable the estimation of an initial Inferred
Mineral Resource and completion of a first-pass scoping
study into the viability of a mining operation during the third
quarter of 2008."

Looks like a SCOPING STUDY is to be completed within the next 3 months - put the pieces together people - in the next few months there will more detailed results issued for the current drill samples, rapidly followed by a scoping study...

best yet..

ALL financed by the Sellheim operation due to go online within the next quarter.

Oh my - if all these can align themselves correctly we could be in for good times ahead.

Best of luck to all holders.


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## smallfry (8 July 2008)

SP seems to be refusing to respond to all the +ve's, does anyone else share the view that Big Kev may be seen by many as a bit of a cowboy and thereby reducing confidence in the management of MXR?   The recent diamond find / no find announcement for Flinders Mining being a case in point (not to mention fairly promising build ups with anticlimatic results for MXR itself.)

Any opinions?


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## d_crome (8 July 2008)

Smallfry - I certainly hear and agree with your concerns.

It's the boy that cried wolf to get his options excercised syndrome.

What I'm really amazed with however is the fact that nobody here has raised the proposed BONUS OPTIONS to be dished out on the 17th.

Management is GIVING MXROA options (20 cent, expires June 09) 1 for every 4 MXR heads owned.  I seriously couldn't think of anything more of a no brainer than this.  Buy in large now, get the options, dump your stock and then sit back.

You have a YEAR for MXR to perform and live up to managements claims - for FREE.  If they don't come up with the goods, you're not out a cent, if they do manage some more credible results the market actually values, then you've already got your foot wedged in the door at 20 cents.

Again - DYOR peoples - I'm not an expert and these are my ill informed opinions.


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## JTLP (22 July 2008)

Hmm...

The little engine that could is down around my buy in price since the last spike.

Very glad I flogged off all when I had the chance!

MXR must be near there NTA eh YT?

Still more drilling from Canegrass PLUS a heap of other ann's as pointed out by YT (Gold etc)...lot's on the go so maybe worth a little nibble for my 2nd time lucky ...thoughts?


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## d_crome (23 July 2008)

JTLP - wish I was as insightful - still holding my parcel from prior to Sellheim - wishful thinking that the iron ore announcement was just the beginning rather than a spike.

I'd say it'll drop a few more cents until sometime in late August when they might release some drilling results.

Still - MXR @13-15 cents is NTA _PRIOR_ to the announcement of the 1.3 to 3 BILLION tonnes of FE they announced at Canegrass.

Again - DYOR.


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## benwex (30 July 2008)

YOUNG_TRADER said:


> Big Kev did his job getting this from 13c to well above the 20c options exercise price,
> 
> I am sceptical that MXR could have 15Bts of Mag ie if all 5 blocks host the same amount, but then again he never said that,
> 
> ...




So MXR is back to 13.5c..

Does anyone know the latest on drilling results for Canegrass??? 

benwex


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## Spaghetti (30 August 2008)

benwex said:


> Well time has told and I think Dr Kevin Wills has done it agian...
> 
> A master at the corporate ramp!
> 
> ...





Well ummm yes, now Phosphate but with FMS. I guess that leaves just undersea mining now for this character.

Did not realise this Kevin bloke also headed another company but was not surprised to see MXR also was ramped by himself.

I guess he has had a nice life though thanks to kind donations by shareholders. Working on the law of averages he may find something worth something yet, but hard to take his ramps seriously and would warn potential investors of any of his stocks to be mindful of his hype and rely on sound research and also be ready to jump on any sign of dumping.



> A master of the corporate ramp




You may well be right, I had thought it was traders that were rampers but perhaps the real villian is the CEO himself.


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## golfmos123 (31 August 2008)

d_crome said:


> JTLP - Still - MXR @13-15 cents is NTA _PRIOR_ to the announcement of the 1.3 to 3 BILLION tonnes of FE they announced at Canegrass.




Still hard to fathom what is going on with this one.  The NTA has been quoted many times here by d_crome, YT and others.  At these levels it is a no brainer, but there is still a lot of doubt about the ability to make it all happen.  When will the substance match the hype........


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## DocWood (1 September 2008)

I made a small comparison of AGO and MXR this morning and the numbers just don't add up, please help.

AGO market Cap	750.65M
number of shares 286.51M

	Total Pardoo project: 24Mt@56.3% Fe 

MXR market cap 17.18M
number of shares 143.20M

	Drilling target iron ore of < 3.0 billion tonnes@<30%

So if you take the %Fe into account the target of iron ore that MXR is going for in this project is still 44x the size of AGO's resource.  AGO has recently started producing so if MXR goes into production then would you expect their Market Cap to go to 44x that of AGO i.e. ~33000M (33B)??  Based on the number of current shares this would put the share price to $230!!!! Obviously this sounds ridiculous. 
And look at the market cap of BHP 290B do we really expect MXR to be a 10th of the size of the biggest mining company in the world?  

So could someone either correct my logic or tell me that a targeted resource is something much larger then what you expect in reality.


Thanks.


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## benwex (1 September 2008)

DocWood said:


> I made a small comparison of AGO and MXR this morning and the numbers just don't add up, please help.
> 
> AGO market Cap	750.65M
> number of shares 286.51M
> ...




I can suggest a few obvious reasons:

1) the 1.5Billion that Mr Will throws around is not based on drilling results and JORC compliants. 
2) there is no infrustructure near MXR tenaments
3) raising capital in this market is near impossible for a company like MXR 
4) too late to the party. By the time MXR get into production (if ever) IO proce would have crashed because of the massive pipeline of other more advance projects.

I am sure their are many more reasons like the distrust big Kev has developed by way of his constant bull**** he spread to the market...

benwex


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## Whiskers (1 September 2008)

I haven't done much work with MXR yet because it didn't look close to a bottom last time I looked. However, I did make a tentative note 'bottom @ .065 ?' 

I shall keep a close eye on it.


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## DocWood (2 September 2008)

benwex said:


> I can suggest a few obvious reasons:
> 
> 1) the 1.5Billion that Mr Will throws around is not based on drilling results and JORC compliants.




I have been a bit frustrated by Dr Wills reporting over the last couple of years, MXR has had to qualify one of its reports after a complaint about it's alluvial gold resource already (which should have rung alarm bells back then). I'm just wondering if it is time to submit another one over the iron ore it claims to have.  Any advice on the following would be appreciated.

If the resource is not JORC compliant then this is no real grounds for a complaint to the ASX in itself but if MXR releases non-JORC compliant estimates in order to manipulate the share-price, which there is at least circumstantial evidence for (considering the timing of the announcement to the expiration date of the options) then is this enough to go ahead with a complaint to the ASX? The JORC is not a policing body and will not accept complaints about resource reporting.

Thanks.


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## Spaghetti (2 September 2008)

DocWood said:


> I have been a bit frustrated by Dr Wills reporting over the last couple of years, MXR has had to qualify one of its reports after a complaint about it's alluvial gold resource already (which should have rung alarm bells back then). I'm just wondering if it is time to submit another one over the iron ore it claims to have.  Any advice on the following would be appreciated.
> 
> If the resource is not JORC compliant then this is no real grounds for a complaint to the ASX in itself but if MXR releases non-JORC compliant estimates in order to manipulate the share-price, which there is at least circumstantial evidence for (considering the timing of the announcement to the expiration date of the options) then is this enough to go ahead with a complaint to the ASX? The JORC is not a policing body and will not accept complaints about resource reporting.
> 
> Thanks.




I recently started a thread called "Ãs this a valid occupation". I was referring to a company that seem like amateurs compared to this guy lol. There are explorers though that have no intention of mining. They just jump on the latest fad and raise money and keep themselves in well paid employment and perks. Also seems some hand over there land for free shares plus small consideration and I think because they see more value in Kevin Wills marketing rather than the land itself. So how many people these ventures are financially supporting on hype may surprise many.

If they did clamp down hard on it then exploration itself may suffer so hard to police without ruining the industry. Exploration is in itself a gamble. Just one would assume some sincerity in motivation. I have to be honest though and have seen some explorers move to mining only to become undone. So there is llittle incentive for many to actually mine when easier money can be raised by cap raising on a blue sky hype scenario.

I would love to spend hours and investigate this man as he certainly has me intrigued (mainly from the hype of FMS, was not aware of him being involved with MXR till a few days ago). I have not lost money from these stocks though so hard to get that angry about to make it a lifes work lol.

I would say just report to ASIC and ASX if you feel you have been misled by a company announcement. They would have to do some tweaking of the system if enough complaints received.


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## sting (19 November 2008)

Things are starting to move. and about Bloody time.

Full scale production to commence at sellheim after 01 dec
and further approvals given for Bird in Hand advancement.

IMO once this mob start getting decent cash injections from bullion sales from Sellheim this should start to hopefully allow it to claw back some lost ground. But then again given the way the headless chooks are running around I doubt that its full potential will be recognised for at least 6 mths. But in my mind cash in the bank and gold bars waiting to be sold is a safer investment than some others around.

SEMPER UBI SUB UBI


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## noirua (30 January 2009)

Maximus Resources BRR radio Quarterly Report to 31st December 2008 - Mr Kevin Wills MD:  http://www.brr.com.au/event/55004/focus-on-gold-production

Maximus sets out their approach to the credit crunch that may be similar to many in the mining sector.  Now concentrating on their Sellheim Gold Project in QLD, an alluvial gold mine on hill slopes, and the Bird in the Hand Project in the Adelaide Hills.
Company is retrenching and cutting costs by about 80% that should keep them alive and kicking.


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## psychic (11 February 2009)

MXR just hit the bottom again (52 week low of 4 cents) and now moving off that low.  I am suprised with the lack on interest in this company considering it is in the buisness of gold exploration/ production.  There is gold in them hills (Adelaide and Queensland)


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## big sal (24 February 2009)

MXR ASX Release (20 Feb) re Placement (9,666,666 shares at .03c = $290,000 before costs) “to provide funding towards the continued development of the Company’s Sellheim alluvial gold project in Queensland”.

“At Sellheim in Central Queensland, Maximus has recently combined its two gold production plants to enable increased throughput. Information on this and recent gold sales will soon be released in an ASX Announcement that is in preparation.”

Will be interesting to see the recent gold sales figures.

Let’s hope MXR has bottomed at .035c


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## big sal (24 February 2009)

and this announcement out earlier today

"NEW PLANT CONFIGURATION ENABLES PROFITABLE SELLHEIM GOLD PRODUCTION
HIGHLIGHTS
• February gold sales of 72 troy ounces will raise about $110,000.
• Gold nugget sales now total 56 for $52,560 at an average price of $1,719/ounce.
• The two plants have been reconfigured and are achieving a treatment rate of over
20 bcm/hr.
• Daily gold production plus nuggets is expected to be 6.9 troy ounces with a value of
$10,350 at current gold prices of over A$1,500/ounce.
• Operating costs during the wet season are predicted at $6,000/day."


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## Sean K (24 February 2009)

big sal said:


> and this announcement out earlier today
> 
> "NEW PLANT CONFIGURATION ENABLES PROFITABLE SELLHEIM GOLD PRODUCTION
> HIGHLIGHTS
> ...



Nice.

72 oz a month will mean they produce 852 oz for the year. 

They're cooking!!

What are they doing? Panning at Sovereign Hill?


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## enigmatic (24 February 2009)

Not that it has to much implications on the MXR share price.

It actually said Feb sales were 72ounces/month not production
also states that it is expected to be 6.9ounces/day actual production
which basically equates to $10,350/day
Operational cost will be roughly $6,000/day
Profit $4,350/day

Ends up being arround 1.5mil/Year 
Obviously there a few factors to take into account

They have to sell everything the mine
Currently the plant was running at 10bcm/hour
the new configuration has running at 20bcm/hour
Stage 3 configuration should be an additional 100bcm/hour


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## big sal (24 February 2009)

it has been a heavy wet season up there so you would expect the operating costs of $6k/day to reduce (perhaps substantially) as the dry season arrives in March/April


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## Lucky_Country (24 February 2009)

Well I wonder how things will go when the gold price drops along with the USD.

The expenses seem to be quite high considering that its just a backstreet operation !!!

Expecting a few more capital raisings thats for sure !!!


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## skint (25 February 2009)

big sal said:


> it has been a heavy wet season up there so you would expect the operating costs of $6k/day to reduce (perhaps substantially) as the dry season arrives in March/April




At the end of the report it states that Maximus also plans to be in full production (stage 3) in the second quarter and aims to be producing 45 troy oz per day. I feel that should position them to ride out the turmoil, whilst others go under. Hopefully, it will also set them up to further the Bird in Hand deposit and the other projects (fe, uranium etc..) when things recover.

45oz's (less oops we overestimated) x gold price over the next 12 months less costs x days in production = ??????????

Any gold savvy punter care to take a stab at the numbers?


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## enigmatic (13 April 2009)

This one dropped of the Boards.. I was wondering If anyone was still following this extremely rough diamond (haha)

They seem to be just struggling through this market crisis with a few dollars coming in every month not to sure if it will be enough to get bird in hand up and going...

they should be getting there 100bcm plant up and running soon which would increase there daily profit.

currently though with as little as 13koz this is barely going to bring much to the kitty.. just waiting on some more canegrass reports.. something to actually confirm the 2-3billion tons of Fe...
Definetly waiting till something solid before i jump in with some large capital.. 
Has a good base of 3cents.. if anyone is game to trade this.


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## d_crome (16 April 2009)

MXR looks to be consolidating their ventures - namely by looking for JV's with their other projects to generate revenue for their more "viable" projects given the current market conditions.

Who knows how this will pan out - I just know I should have jumped out on the excitement of the Canegrass findings however I held for the longer term - my own fault really.

If MXR can generate additional revenues by offloading some of their Uranium based holdings - Sellheim could well be a nice revenue raiser such that additional exploration can continue on Canegrass et al.

Bird in Hand I believe to be a dud - considering it's a ground water issue and the only solution to this would impact the neighboring farmers - but then again, I could be wrong!


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## enigmatic (8 October 2009)

Always end up watching this one, Just wondering if anyone else has noticed the more then usual buy up of this share today, with normal Max Volume floating around 2mil-3mil today has hit 11mil+ on solid share price rise aswell.

Only other thought is someone is ramping the price to get the SPP through at 2.7cents.
I guess time will tell might start watching this one and if it continues on an upward trend, could be back in the running to get that 1.7-3billion tonnes of iron ore project going


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## doogie_goes_off (20 February 2012)

Just a quick bump for MXR, good little spike after the NRR issue and capital is ready for the ~6 hole RC program. Their target is good, it's a "one shot" type of situation but an interesting gamble. Last of the great penny dreadfuls ??

Holding some just in case


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## doogie_goes_off (22 May 2012)

Expecting preliminary drill results in the next 3 weeks, hoping for a steady climb as we get closer. I have confidence in their targets, now to find out if it's worth having confidence in their competence to hit those targets.


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## burglar (24 May 2012)

doogie_goes_off said:


> Expecting preliminary drill results in the next 3 weeks, hoping for a steady climb as we get closer. I have confidence in their targets, now to find out if it's worth having confidence in their competence to hit those targets.



 ASX Report:
http://www.asx.com.au/asxpdf/20120524/pdf/426g3md84pcf85.pdf


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## doogie_goes_off (28 May 2012)

burglar said:


> ASX Report:
> http://www.asx.com.au/asxpdf/20120524/pdf/426g3md84pcf85.pdf




So it looks like they have hit those targets, drill results shouuld be good!


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## doogie_goes_off (28 May 2012)

For those who can't be bothered reading the release 

"Massive sulphide encountered in multiple holes"

Which is code for a good result!


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## doogie_goes_off (28 June 2012)

Single Drillhole with significant assays - a little dissapointing but more drilling to come...peak assay of 5.89% Zinc is still pretty encouraging.


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## Darc Knight (28 December 2018)

*WEALTH WARNING: This stock has been subject to a Consolidation in the past and may at some time in the future cause you to lose all your invested capital.*

https://www.google.com.au/url?sa=t&...WMAJ6BAgHEAE&usg=AOvVaw1woO76LkRHVDQZN8Cc7zA5


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