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Mistermoon

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Don't tell me no-one on this thread is oblivious to the GROUND BREAKING announcement from MTN this morning.

A new JORC confirmed U player has entered the world market.

got in at 32c last week...

cheers,

Mistermoon :p:
 
Re: MTN - Marathon Resources

MTN was on my watchlist after a friend's suggestion.

watched it go down to 16 cents and all the way back up again

didn't get on it :banghead: :banghead:

woe is me......
 
Re: MTN - Marathon Resources

Amazing!!! 106% up in a day.

Wish you had informed us yesterday.Anyway, i'm happy for you.
 
Re: MTN - Marathon Resources

All Aboard and quick,

If you have a look at the following Uranium Explorers you will notice some sharp price appreciations lately, EME NEL BKY MOX UXA UNX GBE

Now take a look at MTN, I think it hasn't been properly sighted by the market,
Its mkt cap is less than half of NEL it it boasts a deposit in S.A which is better than W.A. its deposit (using a higher cut off grade of 500ppm) is 4x the size.


Look at this EV per lb UR08 of Companies, the avg is $2.65 MTN's is $0.26 per lb

http://www.allianceresources.com.au...0Feb 2006.pdf


What does it all mean?
HMR was bought by Mega Uranium for $20m and its a pure exploration play, at current prices MTN can be T/O where the bidder is paying 26c per lb of U308, they could even pay up to $1 per lb and it would still be cheap, IMO once MTN releases its fully JORC Compliant Resource its mkt cap has to be around 2-3x more than what it is currently or it is a very very attractive take over target

Its deposit (using 500ppm cutoff) of 30Mt @ 0.07% = 21,000 t U3O8 which would make it the 12-15th Largest Uranium Deposit in the World, I bet that would make companies take notice
 
Re: MTN - Marathon Resources

I should also add, that their resource estimate for Mt Gee has been verified by two independent firms and that recent drilling at Hodgkinso shows that there dill core assays are exactly like the ones that were dug out by previous companies (ie grading, thickness) which means that they can expect to get very similar drill results from Mt Gee, which means that their resource estimate of 33,000t U308 is there,


Drilling at Mt Gee will be finished by Mid March, watch this stock

Note: The reason MTN was met with sceptisim whan they released resource estimate was because they had not dug any holes, they simply compiled previous datya from over 300 drilled holes to get a resource estimate, now they are doing the drilling to show that what was observed then (in drill core assays) is bieng observed now.
 
Re: MTN - Marathon Resources

Interesting looking chart too, techies care to give me your 2 bob on it?
 
Re: MTN - Marathon Resources

And as the other Uranium spec go nuts, this undiscovered beauty quietly edges its way up :)
 
Re: MTN - Marathon Resources

If I am not wrong, one of the analyst rated MTN as the best value Uranium stock in Australia.
 
Re: MTN - Marathon Resources

Market Cap said:
If I am not wrong, one of the analyst rated MTN as the best value Uranium stock in Australia.
Click to expand...


You wouldn't be wrong that was stated in the Patersons report, its current mkt cap attributes just 26c per lb U3O8 against the mkt avg of $2.65,

I put a link to the report, its on the Alliance Resources web page, LHS

http://www.allianceresources.com.au/


That being said and given the way stocks like NEL MOX EME BKY AGS GBE and now UXA have run it makes you think what MTN is capable of, IMO (and I could be wrong but time shall tell) MTN will trade at $1.50 in the next 4-6weeks, so thats my call,

I like MTN so much because its not an explorer with tennements, its an explorer with a 55m lb U3O8 deposit that its drilling up to get JORC status, drilling started a few weeks ago and should finish my mid-march
 
Re: MTN - Marathon Resources

Ahhh placement to sophisticated group, that explains it, well 5.5m @ 66c is pretty good imo, tops up cash coffers to $4m + and brings total capital to 50m shares (Still tiny!!!)

Well driling at Mt Gee should be nearing an end, can wait for assay announcements, remember pesismistic estimates by me are 55m lbs U3O8, the 2 independents say 60m-75m lb's U3O8 (at Mt Gee alone)

This is a sleeping giant, don't say you weren't warned, will see some weakness today and next few days as short term holders and traders get out (they hate placements)

Fundamentally this is the most undervalued Uranium Company on the ASX, if someone doesn't agree with that statement post why

Just remember companies like UXA don't even have a sniff of U3O8 and yet they have rocketed, as has NEL which has a deposit (JORC NOW) that is 1/3 - 1/4 the size of Mt Gee and is in W.A. we shall see how long it takes for lift off
 
Re: MTN - Marathon Resources

Here's a link to AIR's review of the Patersons report...

http://www.aireview.com/index.php?act=view&catid=2&id=3621

It points out that high level of merger and acquisition is likely to continue in the sector and that MTN is a potential takeover target given its low valuation and project upside.


YOUNG_TRADER said:
You wouldn't be wrong that was stated in the Patersons report, its current mkt cap attributes just 26c per lb U3O8 against the mkt avg of $2.65,

I put a link to the report, its on the Alliance Resources web page, LHS

http://www.allianceresources.com.au/
Click to expand...
 
Re: MTN - Marathon Resources

Hi ,yeah I'm very interested in MTN as well and have been following it on another forum www.sharetrader.com.nz they seem to think that it may be undervalued as the tenement theyre on is heritage listed...and although there is mining in the area MTN's operation would be on a lot larger scale as well there was a question on the hardness of the ground compelled with the low grade deposit....so I'm debating the question wether to buy...of interest fat prophets have a buy recommendation on it
 
Re: MTN - Marathon Resources

The tennement they have that is heritage listed is 'Fleureau Penninsula' which is near adelaide and no where near its main deposits of Mt Gee, Hodgkinson and Armchair, correct me if I'm wrong


JORC Contained U3O8 tonnes
Using 500ppm cut-off 30mt @ 0.07% = 46.2m lbs U3O8

Using 300ppm cutoff (what PDN is using for Langer Heinrich)
56.6 Mt @ 0.06% = 73.1 m lbs U3O8


50m shares @ 75c = $37.5m with 46m lbs U3O8 = 80c per lb
with 73m lbs U3O8 = 50c per lb

Current Mkt Average is $2.65 per lb
@ $2.65 per lb with 46 m lbs = $122m = $2.40 (MTN)
with 73m lbs = $193.5m = $3.85 (MTN)

You do the math, looks like a very very tasty take over target, especially given the fact that Mega Uranium liked HMR so much that it took it over (which had no deposits just exploration)



Remember The Mt Gee drilling program is expected to be complete mid March 2006. The results of the drilling
will be released progressively as the program proceeds.

The drilling program at Mt Gee will comprise up to six diamond drill holes. The principal purpose of
the program is to investigate extensions of the deposit as the current model suggests its further
continuation in each direction. The drilling will also increase confidence in the results of drilling by
previous explorers, and enhance the resource estimate through the provision of additional data.
 
Re: MTN - Marathon Resources

Hi again I am just reporting what I have read on other forums ...I have pasted their arguement here...it's been going for some time...I'm not 100% sure about it myself but will be following up on it and will make further investigations
--------------------------------------------------------------------------------

Tapman,
You are misguided.
There are multiple peolple telling you what they think of MTN. I can assure that it is not just me. I can tell you that there are many many very knowledgeable people that look upon Mt Gee with great scepticism.

I have been saying right from the beginning that this area is a no go zone.

Arkaroola Creek/Gorge is at the base of Mt Gee
Its also listed as a national heritage register

http://www.deh.gov.au/cgi-bin/ahdb/search.pl?mode=place_detail;place_id=5979

Arkaroola Gorge, Arkaroola Rd, Arkaroola Village via Copley, SA
Photographs:
List: Register of the National Estate
Class: Natural
Legal Status: Registered (28/09/1982)
Place ID: 5979
Place File No: 3/00/260/0060
Statement of Significance:
Many of the diverse, rugged and often unique geological, geographical and botanical features which make the Arkaroola-Mount Painter region a wilderness area of great scientific and aesthetic interest. In addition, it is a major haunt of the until-recently rare yellow footed rock wallaby (PETROGALE XANTHOPUS).

The Commission has determined that this place has Indigenous values of national estate significance. The Commission is currently consulting with relevant Indigenous communities about the amount of information to be placed on public record.

(The Commission is in the process of developing and/or upgrading official statements for places listed prior to 1991. The above data was mainly provided by the nominator and has not yet been revised by the Commission.)
Official Values: Not Available
Description:
The Arkaroola Creek, flowing from the Gammon Ranges to the south, swings east in the area of Bolla Bollana smelters and becomes unusually and spectacularly sinuous, frequently doubling almost back into itself. Cutting through the resistant quartzites, tillites and granites of Proterozoic age, it forms a number of beautiful waterholes and gorges with sheer rock walls. The surrounding terrain is typically chaotic with serrated quartzite, massive tillite and bulbous granite peaks. The flora often reflecting the geology, is dominated by several acacia and eucalypt species, yaccas, porcupine grass and after seasonal rains, wildflowers of great beauty.
History: Not Available
Condition and Integrity:
Moderately good. Graded roads passing through Arkaroola Village provide direct access to Bolla Bollana, Arkaroola and Stubbs waterholes. The station management attempts to control tourism by prohibiting camping outside the village and setting aside special areas for mineral collecting.
Location:
About 8000ha, 94km north-east of Copley on Arkaroola Road near Arkaroola Village, AMG points: SH5409-Copley 325454, 325507, 465507, 465454 and return to start, approx. 0.5km north of Arkaroola Village.

Also Mt Gee itself is heritage listed.
http://www.deh.gov.au/cgi-bin/ahdb/search.pl?mode=place_detail;place_id=5978

Armchair
http://www.deh.gov.au/cgi-bin/ahdb/search.pl?mode=place_detail;place_id=5982

Mt Painter
http://www.deh.gov.au/cgi-bin/ahdb/search.pl?mode=place_detail;place_id=5981

Mt Gee, Painter, Armchair, Arkaroola Gorge is not just nearby, its where MTN want to dig.

Legally as stated by Marathon you can dig it up.
But the hurdles are immense.

As you can see from the heritage register this is an area of great significance.

What realistically are MTN's chances of mining, when it affects numerous national heritage places, Rare species (as listed on the heritage register)

And for Arkaroola Gorge

"The Commission has determined that this place has Indigenous values of national estate significance. The Commission is currently consulting with relevant Indigenous communities about the amount of information to be placed on public record."

National Estate significance means this is area is protected big time.

Mining at Mt Gee, Painter, Armchair is not impossible, But wow, look at all those obstacles!

As I have said on this thread right from the start.
Marathons future is not at Mt Gee.

Watch them spend more money on their gold prospect in Victoria, and the IOCG Targets around Coober Pedy, as the focus on Mt Gee slowly but surely fades away.
 
Re: MTN - Marathon Resources

They are drilling there now, ie Hodkinson, Mt Gee and Armchair, so how can it be heritage listed if they are drilling there?

I will get to the bottom of this tomorrow and post up.
 
Re: MTN - Marathon Resources

Yeah I'm still looking to get verification on this .... I've copied this from the other forum..

CRA were drilling in an era when native title and environmental issues meant little.

Goldstream drilled for the Ramp amd Capital Raising. Remember Pierponts Article.
So they didn't care about the long term prospects.

The juniors exploring nearby are about 20-30Km away from the very sensitive areas.

Marathon as can be seen from their map are right in the middle of the sensitive area.

http://www.marathonresources.com.au/pdf/051103ParalanaDrilling.pdf

This is not to say that the other juniors won't have issues. However I feel they are far enough away to give them some hope of mining.



I'm going to try and find the pierpont article and if its of any relevance I'll post it here
 
Re: MTN - Marathon Resources

From what I can gather, although clarification is still pending they are somewhat surrounded by heritage listed spots ie Mt Gee etc,

But there actual deposits lie on the boundry of these as your not allowed to drill on heritage listed spots,

Also re CRA they arrived in 1989 to do there drilling well after Mt Gee was listed in 1982, moreover Goldstream drilled the place in 2001

List: Register of the National Estate
Class: Natural
Legal Status: Registered (28/09/1982)


Types of 'legal status' for each heritage list
The legal status of each place is shown on the results screen when you do a search on the Australian Heritage Database. You can limit your searches to records with a particular legal status by using the 'legal status' pull down box.

There are different types of legal status categories for each heritage list. Here is an explanation of each.

World Heritage List
National Heritage List
Commonwealth Heritage List
Register of the National Estate


Register of the National Estate
Registered
The place is in the Register of the National Estate. Although some places may be legally registered because they are within a larger registered area they may not necessarily possess intrinsic significance.



Here's my view, the reason Gold Stream abandoned its Uranium focus in 2001 was because suprise suprise Uranium price bottomed at $9 lb,
Moreover check the graph it shows that in 1989-90 when CRA had its focus Uranium again was starting to bottom out around $9 lb
And omg guess what again when Exoil looked at it back in 1970 the price was yep you guessed it around the $9 lb mark




So what does all this mean?

Put simply the price is now 4.5x what it was when all three of these other companies were drilling, they all drilled it and seemed to face no enviro problems, and MTN is drilling it, but whats different is that uranium is $40 lb or 4.5x what it was then, a rising Uranium price means that a lower cut-off is still profitable ie look at PDN they are starting to use 200-300ppm as they're cut-off


Also for reference a Uranium Spot Price Graph going back to the 70's ignore the green line as it represents uranium's price in todays' dollars (ie inflation adjusted) just look at the blue line

http://www.uxc.com/review/uxc_g_hist-price.html
 
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