MXR - Maximus Resources

[herbert]

Jman, could you please help do a Craig David and Fill Me In on this issue I have...

Can you explain what Alluvial mining is and the effect it has on grades / as opposed to Deep Quartz Vein mining (i think its called)!

Hopefully your answer can help to clarify the costs to non-believers of the $2m capex

Alluvial mining is cheap because you just need some guys doing the digging and a plant that separates dirt from gold. 2m$ are more than sufficient to do that. So far results for Sellheim looked very good and when you consider that the adjacent gold tenements had gold in excess of 20M ounces you 'll realize that Sellheim could be really huge.

Looking forward to the JORC.
Cheers

 

[YOUNG_TRADER]

Just been informed results for sellhelm will now be released after Easter and before the end of the month.

So a re rating will be a welcome Easter present

Pre production is still on track for commencement in the second qtr


SEMPER UBI SUB UBI

So its a waiting game, well I've waited a bit so another week isn't that bad,

I might give the company a call to let em know, not impressed with the delays

 

[sting]

sting who informed you of this?

Did you phone the company and talk to them or is this just a hunch?

Nub ..Yes I rang the company and spoke to Gary Maddocks, The independant Auditor is currently on site finalising his report. It should be out after Easter and before the end of the month

YT the delay was due to the Auditor requesting various procedural testing be changed and retested

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[JTLP]

Jman, could you please help do a Craig David and Fill Me In on this issue I have...

Can you explain what Alluvial mining is and the effect it has on grades / as opposed to Deep Quartz Vein mining (i think its called)!

Hopefully your answer can help to clarify the costs to non-believers of the $2m capex

JMan...you don't like Craig David? :::

No offense Herbert, just want to get Jman's view on it all...in particular my reference to grades of the gold due to its scattered nature???

JTLP

 

[herbert]

Half year accounts out! Interesting to see that their total current assets are worth 40M$ while their market cap is around 21 M$ ... Market has to wake up this one.
Cheers

 

[sydneysider]

Alluvial mining is cheap because you just need some guys doing the digging and a plant that separates dirt from gold. 2m$ are more than sufficient to do that. So far results for Sellheim looked very good and when you consider that the adjacent gold tenements had gold in excess of 20M ounces you 'll realize that Sellheim could be really huge.

Looking forward to the JORC.
Cheers

Where did u get the info about 20M ounces from?? this would be one of Australia's largets gold deposits???

 

[herbert]

Take a look at their presentation.
There were/are a lot of gold resources in the surrounding area which got a total reserve of 20M ounces of gold. Sellheim is an alluvial gold field and the test pits turned out to produce a lot of gold nuggets ( lots of high grade stuff).
Considering that the area is pretty rich of gold, Sellheim might turn out to be quite a big cash cow for MXR. Especially at a cash cost of 200$/ounce and a capex of only 2m$.

Cheers

 

[YOUNG_TRADER]

Considering that the area is pretty rich of gold, Sellheim might turn out to be quite a big cash cow for MXR. Especially at a cash cost of 200$/ounce and a capex of only 2m$.

Cheers

CAPEX of only $2M??????? Are you sure????????? : lol,

sorry couldn't help myself

MXR has held up very very strong indeed during these trying mkts and why not, per their own annual report they verify my NTA which is around 13c a share

In these mkts you want stocks trading as close to NTA as possible, with little to no upside priced in for success at any of its exploration projects,

This is certainly the case with MXR

 

[herbert]

hi youngtrader,
it's unbelievable that you get all their great assets for free. Only cash and cash equivalents are taken into account currently.

So that means, you get the WVL land holding incl. the Vanadium potential, 160.000 ounces of gold inferred at Bird in Hand, the upside of the Sellheim gold resource, 7.5m lb U3O8 inferred at Windimurra ( just a matter of mining policy to change in order to realize the 750m $ in-ground value) and all its ERO JV's and assets FOR FREE.

Conclusion: Either the market is stupid or I am missing something but this is more than obviously a bargain at current prices.

 

[YOUNG_TRADER]

hi youngtrader,
it's unbelievable that you get all their great assets for free. Only cash and cash equivalents are taken into account currently.

So that means, you get the WVL land holding incl. the Vanadium potential, 160.000 ounces of gold inferred at Bird in Hand, the upside of the Sellheim gold resource, 7.5m lb U3O8 inferred at Windimurra ( just a matter of mining policy to change in order to realize the 750m $ in-ground value) and all its ERO JV's and assets FOR FREE.

Conclusion: Either the market is stupid or I am missing something but this is more than obviously a bargain at current prices.

Hey herbert, the mkt can stay irrational for longer than we can stay solvent it is said, but given that Sellhiem JORC (the real "cash cow") is due this week it shouldn't be too long that it stays so ridiculously undervalued,

I mean once Sellhiem is JORC'd it would be 3 Gold JORCs, 1 Uranium JORC, 13c in Cash and investments, Pretty much all the grounds surrounding WVL's FerroVanadium projects lots of JV's etc etc, surely that would all fetch more than 15c?????

Nub ..Yes I rang the company and spoke to Gary Maddocks, The independant Auditor is currently on site finalising his report. It should be out after Easter and before the end of the month

YT the delay was due to the Auditor requesting various procedural testing be changed and retested

SEMPER UBI SUB UBI

 

[YOUNG_TRADER]

Nub ..Yes I rang the company and spoke to Gary Maddocks, The independant Auditor is currently on site finalising his report. It should be out after Easter and before the end of the month

YT the delay was due to the Auditor requesting various procedural testing be changed and retested

SEMPER UBI SUB UBI

Sting I thought I'd do the honours today and rang the company regarding the JORC,

They have it (it was recieved a few days ago just after the easter break) and are putting the ann together (formatting etc) I was told that the delay is due to the fact that the JORC is alot larger than any previous estimates and so alot of checking was done to make sure no errors were present,

Can't wait, as I said earlier a JORC around 150K oz's Au is all I want as this would allow for around 5yrs production at 30k oz's Au p.a.

anything over 150k oz's will just be icing for me as it would become a serious company making cash project

 

[henry vanderhave]

Thanks for the info guys.Been holding mxr options for ages and seems they will soon bear fruit.The ferro vanadium prospects are what caught my attention,this potential gold is an excellent extra.May top up a little.thanks!

 

[smurfette]

Can't wait, as I said earlier a JORC around 150K oz's Au is all I want as this would allow for around 5yrs production at 30k oz's Au p.a.

anything over 150k oz's will just be icing for me as it would become a serious company making cash project

Hi YT,
With Gold prices around 1000USD/oz at 30,000oz per annum they would be making $30million a year in revenue and as stated with operating costs of around $200oz from the project EBIT of a little less that $24million a year.

What you you think that they will do will all that money? Dividend?

Smurfette

 

[sting]

Sting I thought I'd do the honours today and rang the company regarding the JORC,

They have it (it was recieved a few days ago just after the easter break) and are putting the ann together (formatting etc) I was told that the delay is due to the fact that the JORC is alot larger than any previous estimates and so alot of checking was done to make sure no errors were present,

Can't wait, as I said earlier a JORC around 150K oz's Au is all I want as this would allow for around 5yrs production at 30k oz's Au p.a.

anything over 150k oz's will just be icing for me as it would become a serious company making cash project

This larger JORC was hinted at during my earlier conversation but I didnt want to comment on something that I could not confirm all I could do was re evaluate my holdings. Prior to the last 2 weeks my average price of my holdings were in the high 30's so a good result will put me back in the black.

But then again this share is being treated like it has the plague, the SP is about the same as the cash /share this mob have so I assume that people presume that the exploration area's are worthless. Let the upcoming Ann prove them all wrong.

SEMPER UBI SUB UBI

 

[YOUNG_TRADER]

Smurfette I am impressed, your learning,

But here's what you have to remember with these things, just cuase they say cash costs will be $200/oz doesn't mean, also just because I estimated 30k oz's p.a. of production doesn't mean it will be,

Using conservative figures which the company put forward lets go with 15k oz's Au p.a. and lets assume cash costs double that of the company's estimates ie $400/oz leaving a margin of $600oz Au

15koz's x $600oz= $9m p.a. profit = 6c per share CONSERVATIVE
20koz's x $800oz= $16m p.a. profit = 11c share COMPANY FORCAST


Sting, so they hinted it to you too huh? I wonder just how big this JORC is

 

[sting]

YT I'd hate to hazzard a guess for fear of being accused of ramping but am hoping my confidence in this and a few others are correct.

During the recent upheaval ive taken the opportunity to lower my average SP in this and 3 others that I hold and have hopes for the others being AAR FMLand DGR.

Prior to purchasing more shares I was holding up to 50% losses I have reduced this to about 25 %. I'm hoping all it will take is either people stop acting like sheep and start believing in their own abilities or in this case a BLOODY GOOD JORC.


SEMPER UBI SUB UBI

 

[JTLP]

Hi Guys,

Reading back through some of the old posts, I couldn't help but notice that MXR has a CAPEX for Sellheim of $2m...Is that true

SORRY Couldn't resist.

But seriously, whats the G-O with the Iron Ore projects, they seemed pretty bullish about it back in Sep '07, now nothing? Or does it all go hand in hand with the ferrovanadium drilling in Oct?

 

[d_crome]

1.5 mil on volume - looks like somebody is anticipating some good news in the upcoming announcement.

 

[rhyslivs]

Is there general consensus this announcement is going to be released tomorrow or could they put it off till monday?

 

[smurfette]

15koz's x $600oz= $9m p.a. profit = 6c per share CONSERVATIVE
20koz's x $800oz= $16m p.a. profit = 11c share COMPANY FORCAST

Thanks YT,
What do you think that they will do will the cash that they earn? Dividend?
Look for new projects? Further develop other existing projects?

Or, since they hold a fair amount of cash already atm, may they not sell the gold and wait for the gold price to go higher before doing so?

Smurfette