This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

MEE - Metex Resources

Status
Not open for further replies.
Jump to new
Not sure what the reason is for the increased volume. Like during the last period of increased volume I notice that ZeroGen is once again getting bad press with the federal government stating that essentially the project was a failure. Mr MacFarlane was quoted as saying "Mr Beattie was well aware of ZeroGen's deficiencies and he was seeking support for alternative clean coal projects". (see the article in the australian titled "clean coal project fails"). There is a article on the LNC site with reference to the speeding ticket LNC received yesterday with Anna Bligh commenting on the potential of UCG technology. So I can only speculate that these projects are possibly in line for more government backing. Maybe a JV between the two is on the cards but once again only speculation... same technology, same region, it is a possibility...???
 
Sorry KT, no specific knowledge. It could just be a rebound after all shares suffered briefly from the overseas drop (I see overseas stocks have now recovered).
 
Re: MEE

I have noticed that things are moving a bit faster for MEE lately since Souhtern Cross Equities Ltd has come on board.

Would be nice to see MEE speed up their projects (UCG) and make some concrete announcements about their drill results.

Would like to see MEE follow the footstep of LNC (Linc energy).

Regards,
K.T
 
Re: MEE

Hi James99 & Dink,
Hope you are still holding and enjoying the ride with MEE.
Below is an article from AFR in regards to MEE.

"AFR Tuesday 05 June 2007 Street Talk""Big things on the horizon for Metex Resources.With the coal sector very active right now, stocks exposed to clean coal technologies are getting a lot of market attention.
The stock to own in recent weeks has been Linc Energy, which last week did a deal with an Indian-based energy company to develop underground gas gasification (USG) projects, while Kerry Stokes's private clean coal company, HRL, has also done some power station deals in Victoria.
Also on the up and up is Metex Resources, a Perth-based player with a 50 per cent interest in Carbon Energy (the other half is owned by CSIRO). Carbon Energy is completing a study on a gasification project alongside a coal resource of 45 million tonnes in the Surat Basin in south-east Queensland.
Metex could be well placed if there is a scramble, as some are predicting, by large international resources companies to get involved in this area.
Metex also has uranium business with 16 tenements around Australia( which could be spun out),a share of a goldmine in the Laverton belt of Western Australia, along with other gold interests and 10 million shares in Magma Metals.
On Southern Cross Equities' numbers (the broker has been a heavy buyer of the stock recently and raised money for Metex at 9c in April), the stake in Carbon Energy could be worth 50 million, or close to 20c a share alone."

MEE holders should be happy for the time being and more good news are underway( Uranium drill results ).

Regards,
K.T
 
MEE is off to a great start this morning and up 2 cents or 10.26%

Code - Last --Move -%Move Buyer Seller Open --High --Low --Volume ----Value ----Last Traded
MEE $0.215 +$0.02 +10.26 $0.21 $0.215 $0.205 $0.215 $0.205 2,246,994 466,987 05-Jun 10:10:27
 
KT - Many thanks - I was not aware of that article. And Bigdog, thanks for the figures. Lets hope that there is international involvement soon.
 
James you are doing well in the ASF tipping for June and currently 1st

Well done

1. james99 MEE 0.180 0.220 +0.040 +22.22%
 
Simply following you Bigdog.................................................................................................. ;-)
 
The market loves MEE and now up 4.5 cents or 23% today

MEE $0.24 +$0.045 +23.08% $0.24 high and low $0.205 7,156,507 $1,576,229 @ 05-Jun 12:14:33
 
Great day again... I think we can rest assured that the increased volume and gains over the last couple of weeks reflected the growing interest in clean-coal technology. The other facets of Metex's interests will hopefully continue the trend in the coming several months. Thanks for the AFR article Knight Trader. Also noticed that there was an article talking about coal liquefaction to gas in yesterday's Pure Speculation in The Australian. Metex is not specifically mentioned but Linc was. See below.

"Looking for new black gold: coal
PURE SPECULATION
Robin Bromby
June 04, 2007
GERMANY, without its own domestic oil resource, pushed ahead the production of oil from coal by liquefaction during World War II. The technology was later refined in South Africa to combat shortages of oil under the embargo of the apartheid era. That country's two coal-to-liquid plants still operate and are well placed if oil prices rocket and the world starts running short.
Now the US Congress is talking about spending billions in construction loans for new coal-to-liquid plants.

This coal-to-liquid story is one that will gain traction as the oil crunch grows, so it was not surprising that shares in Linc Energy put on a spurt after the company announced a deal with Shiv-Vani, described as one of India's oil and gas exploration companies. Linc is looking to turn stranded coal deposits into clean power and ultra-clean diesel.

Incidentally, Linc is not the only local coal company to attract big Indian interest. Bhushan, that country's third biggest steelmaker is buying a large stake in Bowen Energy.

But back to coal-to-liquid. Recently listed South Australian oil and coal play Sapex is looking at the potential in its deposits for coal gasification and coal to liquid. In the same neighbourhood, London-listed Altona Resources is working to convert 7.5 billion tonnes of low-grade coal into clean liquid fuel.

There is another play in the wings, with Xanadu Mines looking to float on its Mongolian properties. Its coal resource, thought to be about 150 million tonnes, is sub-bituminous and liquefaction is one possibility being examined."

All good news and I look forward to the coming weeks...
 
Thanks for that Dink. There appears to be a very strong upward trend. I see today there was a volume of 13,038,296, for total turnover of $3,085,280, a volume weighted average of 23.7 and a high of 25. They are new highs in each category.

I agree that the UGC has likely been a strong factor, and given the Rio / BP venture would anticpate increasing international interest. If, as Southern Cross equities suggests, the UGC venture is worth $50 mil (20c) then only about $10 mil value is being placed on the entire balance of uranium, Magma Metals and gold interests, which seems very light.

Grigor (I think) suggested that the company was good value some time ago at a cap of $30 mil, based primarily I inferred on the uranium and gold interests, with only limited weighting on UGC. That added to the UGC value of $50 mil would suggest a cap of $80mil (about 32 cents/share). Even that sounds light relative to some competitors.
 
Thanks for all the information James.

Think we will need an announcement or more public interest in UCG if the shareprice is to hold up... otherwise I think volumes will gradual start to dwindle and the shareprice will slowly continue to retreat...

I would love to hear more about their uranium prospects... nothing like uranium to spark some interest...
 
Ahh Dink. If you are right then a disservice is being done and a buying opportunity will present.

I agree, a uranium announcement would be good. Or gold. Good things take time.
 
Hi James99, Dink and Bigdog.

It's been a while since my last post.
I am a bit surprised by the number of MEE followers.It's only a handful of patient bunch here holding and sitting tightly.

James99, you're right by saying good things come to those who wait.
I have done some research and recently found CXY( Cougar energy) doing some UCG in Queensland as well.
Very interesting company which is working with Ergo Exergy of Canada.
www.ergoexergy.com
Sounds interesting to me.

Regards,
K.T
 
Hi KT,

In on MEE as well. Happy to hold & looking fwd to SP rise. FYI Cougar Energy JV with MLM, another favourite of mine. Had an announcement today: raised $2.1m for UCG development.
 
Im also a big fan of MEE, shame about the holdup in the Italian U3O8 mine Any further word of the possible fragmenting of the company? Also what ramifications would this have for the everyday, ordinary shareholder? Good to see MEE is holding above 20 cents
 
Thanks v. much KT and Nuke. I have a wee bit of an eye on CTP (Central Petroleum) but have not quite refined that nor invested yet. Still researching.

Springhill, what happens upon breakup is in the realm of speculation. Mee has said that if there is a split, then existing shareholders would have preference.

If it is correct that the UGC is valued at 20c a share (see earlier) then it is also reasonably possible that the uranium. purely based opon speculation relative with other startups, might justify a cap of 25 mil (poss 10 +/- cps). The gold would have a more tangible value, but possible lesser speculative value. Either way, upon split up (if it occurs - who knows) the shares appear undervalued.
 
Thanks james99. In your opinion, and i invite any other Metex investors to throw their in, if the split does occur and you only have the $$$ to go one way or the other ( as may be the case with me ) which way would any of you lean, hypothetically, and for what reasons?. Also any opinions on Metexs appeal as a standalone uraninum hopeful??
 
Status
Not open for further replies.

Similar threads

PR2 - Piche Resources
Replies
3
Views
1K
Dona Ferentes
IL1 - Ilala Metals
Replies
2
Views
1K
System
I88 - Infini Resources
Replies
4
Views
2K
Dona Ferentes
BIG - Burrendong Minerals
Replies
1
Views
632
Dona Ferentes
The Effect of Deepseek on Australian Stocks
Replies
7
Views
654
Smurf1976
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...