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Re: MTN - Marathon Resources

Mellow77 said:
Just got the priority offer,
do you guys understand the instructions like me, i.e. pay for desired amount of shares by BPAY and wait whether I get my portion? Without actually having to send the blue form back?

Thanx for your opinions.
Click to expand...

Yes thats the way i understand it ....

It also says the same thing on the USA web site ------> http://www.uraniumsa.com.au/
 
Re: MTN - Marathon Resources

Mellow77 said:
Just got the priority offer,
do you guys understand the instructions like me, i.e. pay for desired amount of shares by BPAY and wait whether I get my portion? Without actually having to send the blue form back?

Thanx for your opinions.
Click to expand...

Well that was what i did was gave a sum of money through bpay and entered biller code... ref number and that was it. I didnt send the blue form through the mail. Now waiting for my shares if i get any that is...
 
Re: MTN - Marathon Resources

yep got my priority offer application blue form today and as soon as I got home jumped on the internet and plugged in the bpay variables.

I believe that the biller reference number will be specific to your details and therefore there is no need to send the blue form back.

Fingers x'ed i get my full amount.

lol
 
Re: MTN - Marathon Resources

what a crock, i feel ripped off already, i am still waiting for priority offer, hoping it will come in the morning.

i just have a feeling that ive missed out because it took so long to get here. i think USA should have done it differently, a lot of ppl will miss out due to postage delays.
 
Re: MTN - Marathon Resources

Cathers,

don't quote me on this but I read somewhere if the priority offer was ovesubscribed then the priority offer will be scaled back.

I hope it's not and hope that you get yours. Be sure to take a day off and wait for the postman.
 
Re: MTN - Marathon Resources

Uranium buy sets off chain reaction
Robin Bromby
September 15, 2006
INVESTORS need to rerate uranium companies in light of China's Sinosteel move to take control of a small deposit in South Australia, according to one analyst.
Far East Capital's Warwick Grigor is sending a note to clients this morning telling them that the Sinosteel plan to take 60 per cent of the Crocker Well project means Beijing now rates uranium as an essential strategic mineral.

"Everyone needs to sharpen their pencils and realise this is not another dotcom boom," he says.

"Real big money will now start to flow."

Pepinnini Minerals, the company exploring Crocker Well, which plans to sell a 60 per cent stake to Sinosteel, saw its shares lift another 7c to 67c yesterday.

Another South Australian explorer which is believed to have been approached by Sinosteel, Marathon Resources, rose 4c to 79c.

But Mr Grigor sounds one warning note: many of the uranium projects in Australia will fall by the wayside, especially those which are reheated ones from exploration in the 1960s and 70s uranium land rush.

Those with grades too low or a resource too small will not get over the development hurdle, he says.

"A project will need to have 20,000 tonnes to make the grade - anything else is tinkering at the edges."

Crocker Well contains an estimated 6735 tonnes of uranium, a tenth of the size of the mothballed Jabiluka deposit in the Northern Territory.

It lies just across the border from Broken Hill and near the Honeymoon deposit, where a Canadian company plans to open Australia's fourth uranium mine.

Gavin Wendt, resources analyst at financial adviser Fat Prophets, said the Sinosteel move showed the Chinese would be looking at the smaller companies where they could deal with several suppliers and have equity in the project rather than depend just on existing producers BHP Billiton or Energy Resources of Australia.

"I don't think this will be the last uranium deal we'll see with China," Mr Wendt said.

He expected Chinese companies to concentrate initially on deposits in South Australia and the Northern Territory where mines could be developed under present political policies.

But he said Canadian interest in our uranium resources would continue and it was clear those buyers were prepared to take the long-term view that eventually Queensland and West Australian bans on mining would be lifted - as shown by the Canadian takeover of West Australian explorer Redport.
 
Re: MTN - Marathon Resources

China's hunger for secure supplies feeds our economy
China is pumping money into our resources sector -- and our companies can't get enough, Robin Bromby reports
--------------------------------------------------------------------------------

September 16, 2006
NOTHING would have concentrated minds in Beijing more than that 71.5 per cent increase in iron ore prices at the start of 2005. Then, this year, Shanghai Baosteel was forced to capitulate again, agreeing to pay BHP Billiton a further 19 per cent hike, setting the price for other iron ore buyers.
The Chinese tried to talk the prices down before the 2006 talks, to no avail - although, as one industry insider points out, they don't want prices to go down too far because so much of their domestic production is from low-grade iron ore mines. Too low a price would put these operations out of business.

So, while the huge price hikes did cause concern, it was really the balance of power in the sector that mattered more.

Long before this, the Chinese steel makers were known to be fed up with the iron ore situation where the three big players - BHP, Rio Tinto and Brazil's CVRD - called the tune and everyone else danced to it.

Now it's clear they're not going to take it any longer than they have to. Chinese companies are either buying deposits, taking substantial stakes in companies or using their enormous foreign exchange resources to buy up emerging mine production. The bottom line: they want some level of control and security of supply.

And it's not just in Australia. This is a worldwide phenomenon. China National Offshore Oil tried to buy Unocal and was thwarted only by political pressure in the US; they tried to get a stake in Canada's oil sands; the China National Nuclear Corp was recently awarded uranium targets in Chad; the Chinese are building a large iron ore mine and railway in Gabon.

Tony Howland-Rose says we should welcome them.

His company, Allegiance Mining, is about to start mining nickel near Zeehan, Tasmania. One of the world's largest buyers of the metal, Jinchuan Group, is to take all the nickel produced at the Avebury mine for 10 years and is expected to soon exercise its option over 25 million Allegiance shares.

Jinchuan is also involved with Fox Resources. There the Chinese came up with financing to help develop Fox's West Whundo copper-zinc project in return for the right to buy all the copper produced.

Furthermore, Jinchuan earlier this year subscribed for shares in the initial public offering by Redstone Resources, which has extensive nickel-copper-platinum group metals targets in the Musgrave region, which straddles the Northern Territory, West Australian and South Australian borders.

Howland-Rose says the Chinese want security of supply, just as the Japanese did when they bought into our coal and other assets back in the 1970s and 80s. Australians should see this as the perfect match: our exploration companies get financing they would otherwise struggle to find, while the Chinese know they are going to get the metal they need to keep their factories humming along.

"Whether we like it or not, we have an interdependency. A lot of good relationships are going to come out of this," Howland-Rose says.

Aurox Resources managing director Charles Schaus could not agree more. His company has just signed a deal whereby Chengde Iron & Steel and China Metallurgical Group will invest in the junior and guarantee to buy the bulk of the output of vanadium and titanomagnite iron ore from the Balla Balla project southwest of Port Hedland.

Customers for such speciality metals are not always easy to find and are also susceptible to sudden price falls.

Precious Metals Australia learned that lesson several years ago when Xstrata decided the Windimurra mine in Western Australia was no longer viable and closed it down - and so chopped off PMA's royalty stream.

Schaus says the deal for Aurox not only guarantees a buyer for mine output, but his company suddenly has access to Chengde's considerable vanadium expertise. Aurox, as a result, is now bullet-proof, he says.

"This is the best thing that could ever have happened to Aurox - we're still getting to grips with the benefits."

Handling the relationship the wrong way can cause deals to fall apart. For evidence of that, look no further than Andrew Forrest

and Fortescue Metals Group wrecking the relationship with Chinese steel makers by the use of some loose words about the deals done. The Chinese have never come back, no matter how much they want FMG's iron ore.

But, as this week's move into uranium by Sinosteel showed, the Chinese game is no longer just about iron ore. They want just about everything - bauxite, nickel, liquefied petroleum gas, copper, rare earths, vanadium, among them. Sinosteel also retains a small stake in Lynas Corp, which is moving to be a producer in Western Australia of rare earths - which will all be processed in China.

And yesterday the Aluminium Corp of China - known as Chalco - got the Queensland Government nod to develop the huge bauxite deposit at Aurukun.

It was the uranium deal that really raised eyebrows. Sinosteel is negotiating to take 60 per cent of the Crocker Well deposit in South Australia. It is known that the Chinese company had approached Marathon Resources, which is also exploring for uranium in South Australia.
Uranex took a more tentative step earlier this year by forming a loose alliance with China National Nuclear Corp. At this stage, this does not involve Chinese ownership - and, anyway, it's thought CNNC is more interested in Uranex's large Tanzanian exploration acreage rather than the Thatcher Soak project in Western Australia, at least while that state bans uranium mining.

Remember, too, there have been hints that the Chinese are interested in investing in Olympic Dam, although BHP has shown no sign of following up on that.

But Resource Capital Research's John Wilson says we should expect China to target more of our uranium.

He says there has been a constant flow of executives from Australian uranium explorers making their way to Beijing in recent months.

"It's an open market - and the Chinese have shown they're the people prepared to pay the most for these resources," Wilson says.

"We don't appreciate their appetite for uranium," he says.

Nor, possibly, for other metals.

Sinosteel owns 40 per cent of Rio Tinto's Channar iron ore mine and is in a joint venture with Midwest Corp on its Weld Range hematite project and Koolanooka magnetite deposit, both in the mid-west region of Western Australia. BHP sliced off 40 per cent of its Jimblebar Pilbara operation to a consortium of four Chinese steel mills.

Back in the mid-west, Anshan Iron & Steel has 50 per cent of Gindalbie Metal's iron ore deposits, the two companies agreeing this week to build a magnetite pellet plant in the Chinese city of Yinkou.

In fact, the Gindalbie experience shows the efficacious side of the Chinese resources land rush. The move by Anshan (usually called AnSteel) plucked what had been a junior explorer and placed the Australian company into the ranks of industry players. The deal was seen by analysts as a company-maker.

The other regional iron ore emerging player, Murchison Metals, opted to do a deal with South Korea's Pohang Iron & Steel - the demand in Korea for steel feedstocks is no less insatiable.

Gindalbie managing director David McSweeney is thrilled to be in business with AnSteel. He knows, because the steel maker is essentially a government agency, that the alliance has the full support of the Chinese Government and that the relationship is rock solid and long term. AnSteel will finance the mining feasibility study, finance the mine development, finance the pellet plant in China - and buy all the mine's output. "Gindalbie couldn't be in a better position," McSweeney says.

In June, Shougang Steel paid $52.5 million to Mt Gibson Iron to take control of the Extension Hill magnetite deposit.

Base metals are of interest, too. Hunan NonFerrous Group is to work with Compass Resources to jointly develop the Browns base metals project in the Northern Territory, Hunan as a first step taking a $30 million placement in the Australian company. The Chinese have agreed to put up $60 million of the development cost, 70 per cent of future exploration and will be a willing buyer for Compass's cobalt output. However, the Compass uranium interests around the old Rum Jungle mine were specifically excluded from the joint venture.

Companies still in the exploration stage are also looking to China for financial and technical lifelines.

David Flanagan heads Pilbara iron ore explorer Atlas Iron.

He is looking for a Chinese partner for both the direct-ship iron ore Atlas has 75km from Port Hedland and for the development of the deeper, and much larger, magnetite deposit.

Flanagan knows the Chinese can provide the infrastructure and expertise needed to get such a project going.

He knows, too, that this is all about our digging up the raw material, shipping it to China where it gets processed and value-added - and then some of that is sold back to us.

"It all makes perfect sense if you come from China."
 
Re: MTN - Marathon Resources

Thanks for these articles YT. MTN is definately in the sights of the Chinese. As expected, not much support out there for the Crosby offer which was pretty lame really.
 
Re: MTN - Marathon Resources

Hi guys, enjoy reading your posts. Some news from down my way for what it's worth:

"Marathon Resources Ltd have served a 'Notice of Entry' to property owners in the vicinity of the former Wild Dog Mine (Myponga, Fleurieu Peninsula SA, mined for uranium during 1954 to 1955) for the purpose of undertaking mineral exploration" - from Victor Harbor Times Sept 14th.

"They pulled 346t of uranium out of the Wild Dog mine in 1954-55, so it is a highly defined area and it is a must for us to explore its possibilities" Peter Williams, Chairman
 
Re: MTN - Marathon Resources

Thanks Hector...

maybe we'll see some price action soon..
 
Re: MTN - Marathon Resources

Nah mate, fairly ambitious vision to imagine U mine there adjacent to Adelaide water reservoir. On the other hand, Terramin got through all EPA hurdles with concerns about River Murray contamination with its Angus Zinc Project, so if high grade finds a possibility perhaps.

Any positive exploration ann is good news for SP though I suppose...
 
Re: MTN - Marathon Resources

There are many media articles beginning to appear on the topic of uranium. i think many u players in aust will see a large re-rating. any stock that has a deposit of 30 000 tonnes plus will IMO soon enjoy a nice ride.

it will be the quality and size of deposits that will make or break companies now. 30 000 tonnes at a med grade will provide a significant deposit for a u exp.

we have seen u spot price increase to $52 per pound and it hasnt really flowed through to u stocks as much as what was expected. i think towards the end of the year we will begin to see a massive boom in u.

SMM and MTN my picks for aust u stocks. looking forward to SMM JORC ann regarding andersons and other tennements.
 
Re: MTN - Marathon Resources

spot price of uranium now $53.25

so every $1 that u spot price increases means that insitu value for MTN deposit increases by around $70 million US.

i am beginning to be super bullish on uranium, think we will see some speculation driven buying soon and re-rating of solid uranium stocks, like ags, bmn, smm, mtn, pdn. some have already had a good run but i believe there is plenty in the tank for these companies.

just waiting for policy reversal, every time there is some media speculation on this topic we see a big rush to the aust u stocks.
 
Re: MTN - Marathon Resources

Got this article on u, ill post it on MTN thread but obviously just as relevant to decent u stocks


http://www.theage.com.au/news/busin...nuclear/2006/09/19/1158431711366.html?page=2#

Powerful argument for nuclear

Michael Backman
September 20, 2006
Page 1 of 2 | Single page
IS URANIUM a good bet? If the evidence from Asia is anything to go by, the answer is yes. The economies of China and India are growing fast. Neither produce enough power for existing requirements.

The US Government's National Intelligence Council has estimated that India's energy consumption will at least double by 2020. China's will rise by 150 per cent. That heralds an environmental disaster.

Why? Because the power that both produce comes largely from the dirtiest, most harmful means: burning coal. The situation is unsustainable. Nuclear power is an obvious solution and, in a few decades, Asia could be home to at least half the world's nuclear reactors.

Coal burning accounts for about 70 per cent of the energy produced in China, compared with a global average of about 25 per cent. China wants to get this down to 60 per cent by 2020, but even if it is possible it will mean coal-generated power will dramatically increase in absolute terms.

As things stand, China uses more coal than the US, the European Union and Japan combined, and its coal consumption this year is up

14 per cent on last year. According to one report, a new coal-fired power station opens in China every seven to 10 days.

Not surprisingly, China has quickly become one of the most polluted countries. Air quality is abysmal. Official estimates are that 400,000 Chinese die each year from diseases related to air pollution. Separately, the World Bank says 16 of the world's 20 most polluted cities are in China.

Pollution levels in India are also rising but the problem is not as acute as in China. Nonetheless, India is stepping up its construction of coal-fired plants, meaning that its greenhouse gas emissions will accelerate. And given that India's population is expected to pass China's in 2030, that's a worrying trend.

Both are looking to generate more power from gas and hydro-electric schemes. But both sources will only slow the rate of growth of greenhouse gas emissions. And so nuclear energy is looking increasingly viable, and even desirable.

According to the World Nuclear Association, of the 442 operational reactors in the world, almost a quarter, or 109, are in Asia. Another 28 are under construction worldwide. Fifteen of these are in Asia. More are planned, so that in total, 285 nuclear reactors are either operational, under construction, planned or proposed for South and East Asia.

The most nuclear of Asia's economies are South Korea, Japan and Taiwan, which generate 45, 29 and 20 per cent respectively of their power from nuclear sources. China's nuclear power plants generate just 2 per cent and India's 2.8 per cent. This is when, worldwide, nuclear accounts for 16 per cent of all the power generated. There is room for growth.

A sign of things to come was the nuclear co-operation treaty between India and the US earlier this year. And the US Government's Export-Import Bank recently provided US company Westinghouse with $US5 billion in loan guarantees for bids to supply technology to build nuclear power plants in China's Guangdong and Zhejiang provinces.

Australia's agreement to sell uranium to China is instructive, as was the recent announcement that a representative of China's main nuclear power plant operator, the Chinese National Nuclear Corp, had joined the board of South Australia-based explorer UraniumSA, which is preparing to float on the stock exchange.

China plans a fivefold increase in its nuclear power capacity by 2020. It now has 10 operational nuclear reactors. With five more under construction, 13 more planned and a further 50 proposed, China expects to have at least 78 nuclear reactors in the future.

Assuming that each new plant will consume the same uranium as the average of the existing plants (in fact, the newer plants are likely to consume more), then

China's annual demand for uranium will rise to at least 10,093 tonnes, from the current 1294 tonnes.

That's almost a tenfold increase. China produces about half its current uranium needs, suggesting that almost all its future requirements will be imported.

Most of the uranium China imports probably comes from Kazakhstan, Russia and Namibia. We don't actually know because China withholds the data. Certainly, Kazakhstan is the world's fourth-biggest producer of uranium and supplies about 8 per cent of world demand. But a new source will be Australia.

As for India, its long-term plan is to increase nuclear's share of power output to 25-30 per cent by 2050. Government plans are for 47 nuclear reactors in the future, up from 14. Assuming that each new plant consumes the same uranium as the average of existing plants, then India's annual demand for uranium will be 3918 tonnes, up from 1334 tonnes. India is now self-sufficient in uranium. Eventually, it will become a net importer.

There might be some squeamishness now about China and India's nuclear programs, but if their use of fossil fuels continues to grow exponentially then it may not be long before the world actually begs China and India to build more nuclear reactors.

Even if India and China do nothing more than raise nuclear power's share of the total to the current world average, uranium has a very bright future indeed.

michaelbackman@yahoo.com
 
Re: MTN - Marathon Resources

dj_420 said:
According to one report, a new coal-fired power station opens in China every seven to 10 days.
Click to expand...
:eek: :eek: :eek:


Thats scary!,

Back to MTN, not suprisingly the 'bid' has been 'extended' lol
 
Re: MTN - Marathon Resources

I have read several times that Sino Steel approached MTN to sign a similar deal to the one they inked with PNN,

However I feel the following paragraph from MTN's target statement shows what the directos are fighting for


Based on the JORC compliant inferred resource (the same resource category asMarathon’s Mt Gee deposit), and the $30.5 million cash component, this
transaction effectively values PepinNini’s in ground inferred resource at $3.42 per lb of U3O8. This compares to the implied value attributed by the Offer to the U3O8estimated to be contained in your Mt Gee resource of 48.5 cents per lb of U3O8.

So it would appear that after crunching some numbers the chaps over at MTN feel that if Sino Steel would offer PNN an effective $3.43 per lb deal, then a deal with MTN should be worth similar, which would be 7.1134x higher than Crosby's current offer($3.42 per lb vs 0.485c per lb)

Lets say 7x for simplicities sake, that would = $4.76 per MTN share


I doubt Sino would offer anywhere near that, but I'd be happy with a deal that valued MTN @ $2 a share
 
Re: MTN - Marathon Resources

I think the release is regarding buttermere's application to the takeover panel, not the takeover of mtn as such.
 
Re: MTN - Marathon Resources

radio-active man said:
As seems as though buttermore has withdrawn its takeover offer. Refer to latest announcement.
Click to expand...

Crosby's (Buttermere) have not withdrawn the takeover offer.

The application that was withdrawn was in relation to Crosby's claim of deficiencies in the the Marathon Target Statement. Marathon issued a supplementary Target Statement yesterday which has negated Crosby's claims, so there is no issue to be decided.

The takeover offer still stands till the extended date of 3 Nov.
 
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