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MMR - MEC Resources

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Re: MRR - MEC Resouces

Donga said:
Wonderful post back in July sleeper88 and your value estimation wasn't too shabby either. You also called out the pdf status and I'm gobsmacked more folk didn't get into this thread.

I've been mentioning on various posts and again last night under BUY, before buying into MMR0 again this morning at 22c. Today MMR up nearly 50% to 54c and MMRO up 70% to 34c, they can afford to settle some! Go you good thing :)
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Thanks Donga, I was just sharing my 2c worth on MMR. What a big difference a month makes, currently up 433% erasing all of my losses during the worst periods of the GFC.

I'm working on an updated valuation estimate based on their recent presentations and proposed capital raising. Will post it up once i have time to finish it (most likely this weekend).

Cheers
 
Re: MRR - MEC Resouces

sleeper88 said:
Thanks Donga, I was just sharing my 2c worth on MMR. What a big difference a month makes, currently up 433% erasing all of my losses during the worst periods of the GFC.

I'm working on an updated valuation estimate based on their recent presentations and proposed capital raising. Will post it up once i have time to finish it (most likely this weekend).

Cheers
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Interested to see how you value MMR (& BUY):)

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thx

MS
 
Unbelievable rise again today for MMR.
The excitement of the huge potential in the Sydney Basin is clearly driving this one. Currently near 80c today when I checked.
The rocket journey continues! I'd love a funding confirmation announcement now and this one could go northward much further... Might need funding news soon or it should correct a little. As I said back when this share was 10c, potential was/is huge!


Holding MMR at 10c :D
 
Think its just the BUY (bounty oil) holding thats pushing it up. Those two have been in lockstep since...
 
Are you kidding skyQuake? I'm staggered there has not been more coverage of MMR in this forum, though sleeper88 analysis earlier is very helpful. While BUY is a product of The Australian Business News and HotCopper, MMR has deftly timed their releases and industry presentations regarding rig tender and recent appointment of Pareto to finance. The drilling outfit should be announced shortly. The players are impressive (including Talbot) as are their connections. Gotta love their pdf (tax gains) status. If you haven't looked into this, there is probably still time. You could do worse than yesterday's Advent preso to the Aust Gas Markets conference. IF it comes off it will be huge. Or maybe you've done your research and think its a dud :rolleyes:
 
Donga said:
Are you kidding skyQuake? I'm staggered there has not been more coverage of MMR in this forum, though sleeper88 analysis earlier is very helpful. While BUY is a product of The Australian Business News and HotCopper, MMR has deftly timed their releases and industry presentations regarding rig tender and recent appointment of Pareto to finance. The drilling outfit should be announced shortly. The players are impressive (including Talbot) as are their connections. Gotta love their pdf (tax gains) status. If you haven't looked into this, there is probably still time. You could do worse than yesterday's Advent preso to the Aust Gas Markets conference. IF it comes off it will be huge. Or maybe you've done your research and think its a dud :rolleyes:
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Definitely don't think is a dud, but still doing my due dilligence on it. Meanwhile it looks like its led by BUY. We may see decoupling soon though.

z
 
Decided to dump all my MMR this morning.
Although I still believe that this company has a huge future, I am conservative by nature (if one can be in these stocks) and I am uncertain that the market can sustain such gains in the short term unless an announcement is very close that confirms funding. Once it started to drop quickly from the mid 70s, I decided that the risk was too great for me.

Bought MMR at 10c
Sold MMR at av. 68c
Profit - approx 550%+ :)

Good luck to all holders and in the long term, I believe that MMR will go much higher.
 
Good on you BESBS :) well done. It's not easy to hold on (though still sticking with all my BLY and will take up entitlement). I sold 30% of my MMR/MMRO over past 2 days to cover acquisition costs and realise a decent return to enable me to free carry the rest. This is a lovely story, the communications of the last two weeks have been slick (oh dear). I expect an announcement on the rig operator will follow shortly and the stock to rally as a consequence. Then the details of the Advent IPO and so on for a few weeks. I'm not as confident as a few days ago that anything will ultimately come of this having read a bit more on the Santos history and some geos comments, but still love it :D.
 
Thanks Donga.

Hope that it makes a motza for you. I'll be watching to see if the SP drifts and offers a cheaper re-entry. As I usuallu like stocks to be within 20% or less of their annual low SP, MMR now looks less appealing. However, if the right announcements were forthcoming, there would be BESBS $$$ to be made.

Cheers,
BESBS Player
 
Ok, as promised, here's an updated valuation of MMR. The information of the individual prospects were extracted from Advent Energy's presentation released to the market on 21/08/2009.

Please feel free to comment and give me constructive feedback on the multiples I've used. The actual share price has moved on signficantly since the my last valuation.

Disclaimer: I hold MMR (free carried) DYOR!! and the information provided in this post DOES NOT constitute financial advice, they are merely my personal opinions.

Advent valuation 30-8-09.GIF

summary mmr val updated 30-8-09.GIF
 
Not sure how excited we should be about the announcement today unrelated to the main game at PEP 11 but at least it is tasty and stopped the small scale profit taking - upgrade of commercial potential in EP386/RL1 in WA and NT. Not on their website yet but can access it through http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=MMR&timeframe=D&period=W.

These guys seem to have everything lined up as regards timing and announcements. Advent are presenting in New York on Thursday, see http://www.rodmanandrenshaw.com/conferences?id=32 and all the ducks are in line for Advent IPO and rig tender announcement in tandem with the current SSPP. Today bought some more options at 29 cents to add to my long term parcel, which hopefully will provide tax free profits from their pdf status. This is a goodie :D
 
Some nice late rallying today, sign of positive expectations towards the new news as well as advent's presentation on Thursday. Currently hold a batch of options and wait with anticipation.
 
Hey guys,

Do you think this share worth buying at its current price (around 0.5)? Am looking to enter into some speculative shares, looking at this one, BUY and ADI. Trying to decide which has the best potential at the moment!

Cheers
 
Simon29 said:
Hey guys,

Do you think this share worth buying at its current price (around 0.5)? Am looking to enter into some speculative shares, looking at this one, BUY and ADI. Trying to decide which has the best potential at the moment!

Cheers
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Hi Simon29

Forum rules prevent members from being able to provide financial advice or advice on particular stocks. Opinions expressed are personal opinions only.

Check ASX announcements, broker recommendations, media coverage etc and use these as a basis for determining whether to buy. Good luck!
 
Simon29 said:
Hey guys,

Do you think this share worth buying at its current price (around 0.5)? Am looking to enter into some speculative shares, looking at this one, BUY and ADI. Trying to decide which has the best potential at the moment!

Cheers
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Simon - this is an intriguing speccie with loads going for it, i.e. pdf tax advantage, likely media coverage due to offshore Sydney PEP 11, board composition, active govt support, near future rig tender announcement as well as Advent IPO. The fully paid has advantage of likely involvement in Advent IPO, while the option enables you to buy more.

You do need to read a lot of recent announcements and I am holding both MMR and MMRO in short term and long term parcels. The movements have been dramatic and could continue to be in the next few weeks, perhaps downward. As with any speccie you could lose heavily as this has already enjoyed a good run and there is a lot of work ahead of Advent to prove the viability of PEP11.

There are also some stocks that seem to be going through a rerating and may also deserve your research being FMS and CXM capitalising on renewed China interest in iron ore and also PRU with their gold resource in Ghana which brokers are finally getting their heads around. These three have done well lately and MAY have more petrol in the tank, I hold shares in each. Probably less speculative than MMR though not as exciting :)

As always don't invest anymore in any speccie than you can afford to lose. DYOR and best of luck.
 
Title of Referral: Asset Energy Pty Ltd/Exploration (mineral, oil and gas - marine)/offshore Newcastle/Commonwealth Marine/PEP11 Site Survey
Date Received: 21 Sep 2009 Reference Number: 2009/5093

Referral

Figure 1


Title of Referral: Asset Energy Pty Ltd/Exploration (mineral, oil and gas - marine)/offshore Newcastle/Commonwealth Marine/PEP11 Drilling Program
Date Received: 21 Sep 2009 Reference Number: 2009/5094

Refferal

Figure 1
 
I'm looking at MMR.

here's the chart I am looking at.

MACD is entering a bullish signal, short term moving average moving beyond the 31 day lagging moving av.

RSI indicating good internal strength with little divergence

Nice little pennant on the share price

stochastic osc. is showing this stock to be currently oversold and entering buy territory and not showing any divergence.

seems ok in my opinion. anyone else seeing the same thing.

for the record, i'm in at .43
 

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Hi Riddick - Forget the charts on this one as so many novel factors:

:) pdf status = tax advantages
:) their board composition
:) state govt and CSIRO support
:) likely PR from offshore NSW media attention
:) past and recent history plus the news to unfold in the next few weeks.

DYO Real R and by all means hop on board but give the charts a miss :D
 
Donga said:
Hi Riddick - Forget the charts on this one as so many novel factors:

:) pdf status = tax advantages
:) their board composition
:) state govt and CSIRO support
:) likely PR from offshore NSW media attention
:) past and recent history plus the news to unfold in the next few weeks.

DYO Real R and by all means hop on board but give the charts a miss :D
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ouch. this may be the last post i ever do after such a a stinging rebuke. i had no idea that your research was the only real research. I didn't realise i had to have your blessing to jump aboard. guess I'll just go hide my head in shame.
 
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