MXR - Maximus Resources

[d_crome]

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.

 

[Markcoinoz]

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

 

[d_crome]

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.

 

[benwex]

(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

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

 

[d_crome]

3 Trading Days remain for the MXRO to be exercised.

Given the previous announcements they're going to have to work a miracle...

 

[cordelia]

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]

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?

 

[enigmatic]

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

 

[shaunm]

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.

 

[d_crome]

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.

 

[smallfry]

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?

 

[d_crome]

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.

 

[JTLP]

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?

 

[d_crome]

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.

 

[benwex]

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

So MXR is back to 13.5c..

Does anyone know the latest on drilling results for Canegrass???

benwex

 

[Spaghetti]

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

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.

 

[golfmos123]

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........

 

[DocWood]

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.

 

[benwex]

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.

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

 

[Whiskers]

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.