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MUR - Murchison United

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MUR looking good. Not too much to tell from the chart other than it's going up. Couple of breakouts since low point in Oct. Momentum seems to be still up. Great volume. Might have a few short term traders riding it at the moment so wouldn't be surprised for a sell off in the next few days, like a couple of days ago. Closing on it's high is pretty positive for tomorrow morning and if the US doesn't crumble would expect a gap up.
 

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kennas said:
MUR looking good. Not too much to tell from the chart other than it's going up. Couple of breakouts since low point in Oct. Momentum seems to be still up. Great volume. Might have a few short term traders riding it at the moment so wouldn't be surprised for a sell off in the next few days, like a couple of days ago. Closing on it's high is pretty positive for tomorrow morning and if the US doesn't crumble would expect a gap up.
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Agree, I traded this share last time when the same situation occured.
Bought at the opening. Looking at market depth a lot more buyers than sellers so looking good for tomorrow morning.
 
kennas said:
MUR looking good. Not too much to tell from the chart other than it's going up. Couple of breakouts since low point in Oct. Momentum seems to be still up. Great volume. Might have a few short term traders riding it at the moment so wouldn't be surprised for a sell off in the next few days, like a couple of days ago. Closing on it's high is pretty positive for tomorrow morning and if the US doesn't crumble would expect a gap up.
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Some commentary about MUR that u might find interesting. I will start with the non u interests. MUR very recently concluded its 50% JV purchase of the Maroochydore Copper Project from the creditors of Renison Bell. The other 50% is held by Aditya Birla Minerals who are the operators. The project has been in limbo for about a year as legal issues remained unresolved. These were settled about six weeks ago. The project already contains a JORC resource of 51,000,000 tonnes at 1% copper and 0.04% cobalt so MUR's share is 250,000 tonnes of copper and 10,000 tonnes of cobalt (cu equivalent of 1.42%)

Current prices for copper are US$2.95 a pound and US$31.00 a pound for cobalt. So the current in ground resource is in US$92.18 per tonne x 51,000,000 tonnes = US$4.7 billion. A fairer way to look at this is to look at ABY which is valued at A$616,000,000 and currently operates two copper mines very near by Maroochydore (which is very near Telfer) and "guesstimate" that this asset could be worth around one third of ABY's value as an operating mine (it contains roughly one third of ABY's current JORC copper resources). So that is A$206,000,000. A 50% interest is then worth A$105,000,000 as a fully equiped mine. The "opportunity" value to ABY on the undeveloped JORC resource would be quite high. My guesstimate is in the A$10-30,000,000 range. MUR has 300,000,000 shares on issue so the asset may be worth somewhere between 3 to 9 cents (currently 14 cents a share). MUR has indicated that it may sell the asset. IMHO they might end up with a bunch of shares in ABY and some cash to fund their u program.

IMHO MUR is one of the better quality junior u explorers and it is obvious when viewed in context of the value of the above copper assets its uranium valuation is possibly around 5 or 6 cents (A$15,000,000) when other explorers such as WMT have thru the roof valuations on a much smaller asset base of A$110,500,000. IF we assign a similar valuation basis to MUR then the u & cu assets are worth somewhere in the 30-45 cents per share range. I will explain the basis of the valuation in my next posting, sometime in the next 24 hours. IMHO similar type of offshore buying that took WMT to 25 cents (James Dines recomm) is now affecting MUR via its recent North American presentation and roadshow. The fact of the matter is that international managers are valuing small "high grade, hi flying" u stocks at valuations exceeding A$100,000,00 IMHO has a number of very high grade u plays in Mauritania and Guinea.
 
Time to dust this one off after a brief hiatus.

I'm still patiently holding. Is anyone else here holding this? Its been in a consolidation around 12/12.5 cents for a month. Has not really failed that, and was heartening to see it close at 13c today.

Really needs to get amongst the 13.5c/14c to break out.

Anyone else holding? want to give their :2twocents

Cheers
Brad
 
yeah looks like its consolidating its price.
As ive read, SP corrects either thru time or price and looks like its time MUR is following. Its following the 21MVA and the Bollinger Bands have now contracted into a range so i think it might start to move in the near future. Hopefully upwards with the good comment 2 posts above mine. So just a matter of time as usual.

Thats just some basic charting i'm using.
imo
 
Nice open this morning. Looking forward to seeing what the rest of the day brings though.

I can't fathom why the sellers are lining up though? After waiting patiently for a run, why sell???

Cheers
Brad:banghead:
 
I Agree BradK

Great opening this morning and it did look great, then sellers started to flood in for some reason. Did you notice a period where the highest seller was only .195c and nothing beyond that? but not anymore

but atm sellers have flooded the depth and keeping it from moving up. But i hope it just needs a little rest before a big move tm or something. Gapped up today to .135 from .13 so might need to cover that gap.

Looks good overall i guess

Will
 
Yeah Will,

It was very surprising about the sellers still stacking the sell side... WHY?!? Still scratching my head.

I have a 16c target for mid-May.

Cheers
Brad
 
Well charting wise, it looks good overall because it broke that downward trend and if it holds above 12c it should be ok.
But in the very short time like in a day to a week, today created a Gravestone , as off 11:11am WST, so if it closes at 13.5c it will be a gravestone which sometimes signals a reversal so it could reverse. but still got half a day to go.

So i think in a few weeks this stock should keep moving up slowly. If only the sellers would let up haha
 
Announcement out... ready to commence drilling in West Africa...

Is it in trading halt?

Brad
 
MUR just released an announcement stating that they are about to commence uranium drilling in the FIRAWA uranium prospect.

Great timing of the news.
 
Slipped back to 12.5c.

I DONT understand why we had a run this morning and the sellers just stacked. How frustrating. I have been waiting for a run, and this intra-day high stuff is just no good.

Kennas, do you care to post a chart?

Brad
 
I feel ur pain Brad
lol

hrm atm the depth is 1 person sellin at .13 and one selling at 13.5
if they both pull out..mite change but they are not for some reason.

Think just give it time.

Will
 
SP recovered really well today and look forward to see how it goes tomorrow. Prob has some a bit of momentum still left but it moved strongly in the last part of the day
 
Bullish Engulfing?

Either way, OBV, MACD and Stochs have turned upwards.

Hopefully it has got some attention and has got momentum to keep going.

Cheers
 

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Hi Will,

Yeah, good to see Murchison with a nice green candle today. Those intra-day spikes are a bit of a concern - but great to see it hold its gains today.

Cheers
Brad
 
Wonder if this trading halt is preceding some great news...
or bad news
hard to say since yesterday was a strong day while the days before yesterday were all bearish.

But take into account..at the end of the day yesterday..is when most of the strong movement was taken so might be good news.

Just have to wait and SEE!!
 
Looks like we are the only ones interested in this Will,

Still traded AIM last night in London and up 7.5%

Cheers
Brad
 
Yep looks like we are the only ones interested!

Thats ok, as long as their's profits! Cross our fingers though that the announcement is good.

U think its a bid for the company?

Hope it gets some attention on the day to push the price up

Will
 
$6.6 million cap raising at 11c per share

Drilling commemced in Guinea West Africa

Resumes trading tommorrow
 
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