MXR - Maximus Resources

[krisbarry]

I have been looking at MXR and I would consider buying around the 20c mark. .

Just checking if this is a downramp?

Doubt very much it will get back to these levels (20 cents) after the last two announcements, with more gold results on thier way and the commencement of drilling in WA for Iron ore to start within weeks.

If anything I see MXR opening much stronger On Monday and the charts prove me right technically and the fundamentals are right for an increase in share price, not a decrease.

 

[krisbarry]

Look at the 1 month chart, you will notice the spike in share price, then a consolidation and now the next leg up has started.

Also notice the MACD line, its now into positive territory and looking very strong - Very bullish is you ask me.

 

[buy and hold boy]

I have been researching maximus very thoroughly and I have changed my mind about its valuation. I now think it is worth over 50c just based on current resources and will get to this level once it announces gold reserves at BIH over 250,000 oz. This rerating could happen VERY SOON as the billa kalina photos are due back by the end of the week. In light of this I don't think those interested can afford to wait for the stock to fall to 20c as an announcement could see it fly - just like IRM did today!

 

[juw177]

Look at the 1 month chart, you will notice the spike in share price, then a consolidation and now the next leg up has started.

Also notice the MACD line, its now into positive territory and looking very strong - Very bullish is you ask me.

Come on now, that was no analysis, of course the MACD is going to look bullish, it just had a breakout.

But there are better breakouts to trade out there if you are looking technicals. The spike in share price ended in heavy selling off above 30c. And the consolidation looks like it has a bit more sideways movement to go considering the high selling volume.

And I would like to hear what you think about how this compares to FMG.

 

[krisbarry]

Geee you did change your mind very quickly...I hope you got your order filled today

Just 3 weeks to go till drilling starts in WA, for Iron Ore.

I traded a few times today on IRM (Iron Ore stock), and looking at MXR this has so much potential to fire up if/when good resources are discovered.

 

[dj_420]

I am sick of hearing this stock been compared to FMG, krisbarry / stop the lock they have not even got drill results back FFS!

Have you recently been employed as MXR public relations spruiking boy? I'll read some detailed analysis but not the constant comparison with FMG.

 

[krisbarry]

Further Encouragement for Windimurra Uranium Prospect

Check todays announcement, quite a large find of Uranium with good grades and close to surface too

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00768207

 

[robandcoll]

Announcement out Friday:

Drilling at Canegrass and Shepards to commence in October, then PMA announce the MXR announcement.

If the vanadium and iron ore is a continuation from the PMA site then its looking very promising given PMA released an announcement on the 9th October of the 10 year contract with Precious Metals.

 

[yuyry002]

Ann just out.
Sample TT088 from the Sellheim alluvial gold project in north Queensland returned 94.3 • grams of gold at a grade of 18.7 grams/lcm

and they are expecting resource estimate next month.


http://www.asx.com.au/asxpdf/20071018/pdf/31560b4p6q49qx.pdf

 

[debaron]

More good news to come I reckon. Will hold on.
Who else is holding or selling for quick profit today?

 

[ALFguy]

More good news to come I reckon. Will hold on.
Who else is holding or selling for quick profit today?

Still holding from 18c

Certainly won't be selling anytime soon. Was more than happy with the Iron ore prospects but now with todays announcement, I'm sure this will go considerably higher.

Particularly liked this part of the ann:

Maximus’ experienced plant operator who has worked extensively on many alluvial goldfields in New Zealand (NZ) and South America commented by email, “As you know, I have worked in many alluvial mines, including one of the richest rivers in the world, the Shotover (NZ) – I have never seen so much gold in one 5 cubic metre sample”.

However, I'm very surprised this hasn't run harder. But then there's still a few hours to go

 

[benwex]

Still holding from 18c

Certainly won't be selling anytime soon. Was more than happy with the Iron ore prospects but now with todays announcement, I'm sure this will go considerably higher.

Particularly liked this part of the ann:



However, I'm very surprised this hasn't run harder. But then there's still a few hours to go

A trading halt for MXR this morning...

Any ideas???

Listening to their MD on board room radio there is alot of opportunities for there gold and iron ore plays.


benwex

 

[yuyry002]

A trading halt for MXR this morning...

Any ideas???

Listening to their MD on board room radio there is alot of opportunities for there gold and iron ore plays.


had a another look at companys ann. cant find anything related to trading halt.

 

[ALFguy]

A trading halt for MXR this morning...

Any ideas???

Listening to their MD on board room radio there is alot of opportunities for there gold and iron ore plays.


benwex

Could be Bird in Hand assays but more likely a cap raising. They failed to raise enough last time so no doubt they will need more funds.

 

[countryboy]

fundraising on the cards.hope they don't kill this like western metals did with an over supply of shares. Expect a retrace to around what they set the price at. the least they could do is open this up to us wee punters !

 

[benwex]

Quickly had a look to see what their latest cash reserves...

In their latest yearly financials, June 2007, they had:

cash or cash equivalent of $13m
Net total assets of $24m

and only $600k of liabilities.

I would be really surprised if they are going to be looking for a capital raising right now with such a strong balance sheet and an agressive exploration which seems to be funded.

Out of the directors report......

"The net assets of the group have increased by $16,009,074 during the financial year from $8,123,591 at 30 June 2006 to $24,132,665 at 30 June 2007. This increase has largely resulted from the proceeds from share issues raising $907,195 and the listing of Eromanga Uranium Ltd. The Company has been actively undertaking exploration activities and has capitalised $6,987,454 in exploration expenditure during the current financial year.
The directors believe the Company is in a strong and stable financial position to continue its exploration activities"

 

[ongchuan]

Agree...I dun think it is the capital raising. More likely is significant grade of gold in BIH. Kevin Will mentioned about they are still waiting for the assay in 3 holes in the BIH project. The results is sort of overdue and i guess they will release it very very soon. Probably the three holes have significant gold deposition! Better hope it is....Monday gonna be a nasty day anyway....

 

[countryboy]

not going to be a good day to announce monday ...i would wait untill late afternoon 4.59 pm before releasing the information. still could mean that mxr tread water on this announcement

 

[yuyry002]

why would they raise 9.48mill of 47.4mil shares at 20cents,why not 30mil shares at 30cents?

i just donot get it.

any thoughs out there?

 

[ALFguy]

why would they raise 9.48mill of 47.4mil shares at 20cents,why not 30mil shares at 30cents?

i just donot get it.

any thoughs out there?

They'll more likely be taken up and get the cash they need this way. Bit of a kick in the face for existing holders though. Not very gentlemanly. I'll be writing to let them know as such.

On the upside, if they pull this off, they'll have enough to progress their projects which longterm is a good thing.

Note > Bird in hand results due out anytime now. They're expecting a resource increase which may turn things around. Then there's the iron ore in around a months time.