MKY - MKY Resources

[sydneysider]

Re: MKY - MKY Corporation

Very major move underway on MKY. IMHO they may be onto a VERY MAJOR U exploration target. Zone 1 is 12 square kms with a very large central "highly anomalous target zone".

We finished the day with 103 million shares traded and there was a BRR audio published Friday PM. where MKY director says that they have a very exciting U target. By way of comparison WMT with double the number of shares went from 5 to 45 cents on hi grade U samples from trenching in Tanzania and attracted international interest AND that is on a roll front calcrete deposit (from memory).

MKY has much higher grades on all of the eleven hi grade samples seem to be on a very large target and averaged 11,577 ppm. Another thirty samples scattered throughout the balance of the 12 square kms all had very respectable average grade of 391 ppm of U.

The point that was stressed on the BRR interview is that there is a high probability that the samples are very close to the source that shed them because of their sharp edges (samples that travel far have worn edges). That means that we may be looking at a the "potentiality" of a very major U find. Some folk will say that we are only talking about surface samples BUT we are talking about a decent number of samples that all reflect a smillar grade of u along with scintillometer readings that indicate large and hi value u ground targets. Please do your own research here and feel free to pull apart my hypothesis.

 

[mickqld]

Re: MKY - MKY Corporation

Announcement out. They have expanded EPM14315 by some 300 sq kms. The geology apparently is tending through these new tennements from their "Bonanza" samples.Living in hope.

 

[sydneysider]

Re: MKY - MKY Corporation

Announcement out. They have expanded EPM14315 by some 300 sq kms. The geology apparently is tending through these new tennements from their "Bonanza" samples.Living in hope.

MKY has attracted the most "underated" response to one of the more spectacular very hi grade U surface sampling programs underway in Australia at the moment. These preliminary results rival those of WMT in Tanzania when WMT was under 10 cents and then quadrupled. I doubled my position yesterday at 6.3 and found it hard getting stock in quantity.

I suspect that there may have been some tax loss and corporate element in the stock dumping that took place this past week and may be some of 1.5 cent "funding stock" to recapitalize MKY got dumped (there was one major shareholder sale notice). IMHO this "play" was totally dissconnected from the spectacular sampling results that hit the market. IF my view is correct then we should see some very decent percentage gains over the next few days.

 

[sydneysider]

Re: MKY - MKY Corporation

Considering the weakness in the U's we have MKY looking technically quite healthy. Both MACD and stochachstics have turned and the SP has pulled back from its recent spike to 8.2 and now is churning at 5.7. Over 250,000,000 shares have turned on the spike and pullback. This is a very substantial number as the listed shares add up to about 350,000,000 so we could get a very healthy % breakout and rally (waiting on volume confirmation).

IMHO the recent assays reports on sampling and U grades for the Palmer River leases were extremely impressive. They seem to indicate very high grades over a very substantial area indicating to me that MKY may be in the very early throes of making a very major u discovery. The market is waiting on maps and co-ordinates of the hi grade sampling. I suspect that MKY was reticent to release this information until adjoining leases were granted which occurred last Friday. It seems that the hi grade zone appears to run into the newly granted leases.

I suspect there are a number of prospectors now running around the Palmer River area looking for a way to get into this area. Will be interesting to see what happens when the day traders start to fire up MKY as my impression is that a very substantial quantity of loose stock has been tied up.

 

[sydneysider]

Re: MKY - MKY Corporation

We are now in the early stages of a major breakout. This morning MKY gapped up to trade at 5.9 and is now at 6.3 on low volume of 4,000,000 shares. This might be a function of the massive buying wave that took out over 150,000,000 shares two weeks ago.

 

[Snakey]

Re: MKY - MKY Corporation

Interesting thoughts guys but will they allow this uranium mine in queensland? Thats whats holding this one back I think. Any thoughts?

 

[sydneysider]

Re: MKY - MKY Corporation

Interesting thoughts guys but will they allow this uranium mine in queensland? Thats whats holding this one back I think. Any thoughts?

Summit Resources is a Queensland based U player valued at $720,000,000 and holds appox 75,000,000 pounds of u resources (from a quick review and subject to clarification). At that valuation each pound is worth $A9.6 AND is under effective takeover from PDN. There is discussion about Queensland Government policy towards U mining which justifies the above valuation.

MKY has come forward with spectacular sampling grades for U over wide areas of their Palmer River tenements which (like SMM) are located in North Queensland. There are a number of other major players who have also locked up U properties in Qld such as Mega U and Arveda tried to play the spoiler in the SMM takeover. IF MKY can establish continuity and depth to their high grade samples over a wide area the stock will scream. Recent trading volumes have been very high.

 

[sydneysider]

Re: MKY - MKY Corporation

Technicals turn positive. Both MACD & stochastics are now turning up. Hi volume breakout from a bearish pattern took place two weeks ago hitting 8.1. Low volume retracement back to base at 5.5 completed and now we are turning into higher ground with a break to 6.3 yesterday.

 

[jammin]

Re: MKY - MKY Corporation

Technicals turn positive.Now we are turning into higher ground with a break to 6.3 yesterday.

I hope the trading halt called today has minimum negative impact, but I am concerned that the SP was falling the day before the TH was requested. A mitigating factor is the very low volume. It is unlikely any insiders were "running for the hills" given the low volume.

 

[sydneysider]

Re: MKY - MKY Corporation

I hope the trading halt called today has minimum negative impact, but I am concerned that the SP was falling the day before the TH was requested. A mitigating factor is the very low volume. It is unlikely any insiders were "running for the hills" given the low volume.

Placement was on very decent terms with no sweeteners. Drilling will get underway very shortly on what IMHO is one of Australia's hotest u prospects. SP seems to be gaining strength to-day with trades up to 6.4 cents on light volume.

 

[sydneysider]

Re: MKY - MKY Corporation

Time to look at a long term (to listing) chart here. I have superimposed a 100 moving average and we have given a whole series of signals breaking above this trend line, including a spectacular extreme hi volume burst to 8.1 cents. All of the signals seem to be indicating much higher prices. I have not got any opinions on projections at this stage BUT the "basing" formation is very wide which indicates a substantial count to +16 cents.

I am very bullish on the u drilling program that starts very shortly in the Palmer River. Hi grade U samples are very widespread. I also have a position in RAU which is about 25 kms SW of this area and RAU has very widespread hi grade tungsten assays. Should ask RAU if they have looked at the u potential of their extensive lease base?

 

[Sean K]

Re: MKY - MKY Corporation

Time to look at a long term (to listing) chart here........ I have not got any opinions on projections at this stage BUT the "basing" formation is very wide which indicates a substantial count to +16 cents.

Syd, I agree the chart looks more positive after yesterday, may be breaking up. Not sure how you get the 16 + cents though. Are you suggesting this is some sort of triangle and once it breaks up, will be projected the width of the triangle? But which triangle, or what else? Perhaps you could draw some lines on the chart to demonstrate? Interested. Cheers.

 

[Da Cat]

Re: MKY - MKY Corporation

long time... not much action or comment!

A bit of sp movement the last few days and on reasonable volume. (13 mill traded last week compared to 3ish mill the weeks before).

I am looking forward to follow up results from the "bonanza grades" reported in June this year. "The highest grade uranium assay received was 83.4 lbs/ton U3O8 whilst other high grades were 81.4 lbs/ton, 54.6 lbs/ton, 43.4 lbs/ton, 20.6 lbs/ton, 6.52 lbs/ton and 5.46 lbs/ton U3O8."

Announcement 8 Aug 2007: "The Company confirms its plans to drill over the period to October 2007 on EPM 14315 and other targeted locations that have shown high grade assay results reported to the market on 22 June 2007 of up to 83.4 lbs/ton of U3O8."

I am hoping to see some reporting within the first two weeks of October.

 

[TMC19]

Re: MKY - MKY Corporation

Thank for the update Da Cat. Pretty interested in this one myself. It has fallen back a fair bit over the past couple of months, like most other stocks, but hasn't made the recovery as well as some others. Any ideas what is driving the highish volume ?

Hoping for some good news early Oct.

 

[Da Cat]

Re: MKY - MKY Corporation

I don't think there is anything especially exciting about the recent volume - probably more that overall market sentiment a little more positive leading to money coming back into the speccie stocks like MKY.
Nevertheless, it's good to see some movement. Bring on the results!

 

[sydneysider]

Re: MKY - MKY Corporation

MKY has picked up in volume and price as we await trenching assays for Palmer River U claims. This one has had several false starts before but may be worth following. Chart shows some very positive technical signs. Re-entered the stock this morning in the low fives.

 

[henry vanderhave]

Re: MKY - MKY Corporation

Any one watching this.Trenching assay results due soon.According to AGM could be bonanza grade U results.To be followed by drilling after wetseason.Apparently in talks with JV groups.Could be TORO and another.I hold,could take off on good results.Not big on U companies but this made me sit up and research,did well out of EME AND HAVENT BEEN IN SINCE THEN,till now. :

 

[shaunm]

Re: MKY - MKY Corporation

Yeah Henry, I am watching & have been in for a while now.This could be a good one or an absolute fizzer I guess depending on the real results.
I wasn't aware on any potential JV talk.
When I get some more spare $$ I may top up on a few more.

 

[sydneysider]

Re: MKY - MKY Corporation

Any one watching this.Trenching assay results due soon.According to AGM could be bonanza grade U results.To be followed by drilling after wetseason.Apparently in talks with JV groups.Could be TORO and another.I hold,could take off on good results.Not big on U companies but this made me sit up and research,did well out of EME AND HAVENT BEEN IN SINCE THEN,till now. :

The very interesting thing about MKY is the (potential) size of the target. Wallys Cluster is 12x 12 kms as the "target" hi grade area. that is 144 sq kms. The rock type that has been identified as highly uraniferous is loveringite which is volcanic in nature. Speaking in a very speculative manner, there is potential that the highly uraniferous veins refered to in to-days report may come from a great depth. Assuming a "first pass" target depth of 500 meters, we have a block of rock that is absolutely massive in size and "may" be laced with veins of uranium. This is pure speculation on my part BUT (1) hi grade u rocks reported all over Wally's Cluster (2) first trenches identified as carrying hi grade u rocks (3) rocks are volcanic in nature and vein's may have come from a great depth.

This thing may at the end of the day be a complete dud (which is the downside risk) but there have been rumors circulating on the web that a JV might be coming and this may IMHO be due to the massive size of the target. This thing is completely different to your typical Aussie paleo channel deposit of a few hundred ppm per tonne. MKY is talking sample grades that top out at 45,000 ppm. and now they will be chasing a vein system of potentially very hi grade u. Watch for trenching grades and locations to follow shortly. Good luck to all longs.

 

[sydneysider]

Re: MKY - MKY Corporation

Please re-read previous posts. Story line remains the same, with assays expected next week. IF they maintain the tenor of earlier results thru the trenches then we will start to attract serious attention as a very hi grade u play, possibly one of the highest in Australia. We are well bid at 6.8 and chart pattern indicates that interest level is increasing substantially as seen in a 10 day chart.