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Re: MTN - Marathon Resources

MTN seems do be defying the general U sideways trend atm which is interesting, I wonder how long until the U phoria begins, last I chcked the U spot price was only headed one way, Cigar Lake was still flooded, Jabaluka was still a no no and Olympic Dam wasn't going to make a splash until 2010

Nice charts Kennas
 
Re: MTN - Marathon Resources

Kauri said:
7 June..It looks to me that MTN may have formed into a cup, not sure if the last couple of days are the start of the handle or still in the cusp...
Click to expand...

Not one I am trading but have been following it in my voodoo C+H stable.. looks like the chicken entrails may be lining up...
.....Cheers
........Kauri
 

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Re: MTN - Marathon Resources

Kauri said:
Not one I am trading but have been following it in my voodoo C+H stable.. looks like the chicken entrails may be lining up...
.....Cheers
........Kauri
Click to expand...

Kauri, what price target does the C&H give you? I get around $7.60ish.And also do you have a valid EW count on this stock?

Lachlan6 said:
Wanted to buy MTN this morning but jumped a little too far I think, may have to wait for a lsight pullback.
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I also wanted to enter this morning but when it opened at $6.60 thought I had missed it, so I put in a small buy order at $6.46 (not thinking it would get filled) and was surprised to get back and see it had been filled. Will now be looking for an opp to pyramid into the postion.
 
Re: MTN - Marathon Resources

nomore4s said:
Kauri, what price target does the C&H give you? I get around $7.60ish.And also do you have a valid EW count on this stock?
.
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nomore.
In my attached chart the green arrows give the conventional thinking on C+H target,,, there is also an E/W count...whether it is valid is another story though.. ...
.Cheers
.......Kauri
 
Re: MTN - Marathon Resources

Buttermere have been smoked... They will no longer extend their rubbish Take over offer of $3.52... If you want you have until July 4th to sell your shares at a 3 dollar premium...
 
Re: MTN - Marathon Resources


lol, maybe it wasn't so lucky. Oh well, hasn't hit my stop yet will just have to see how it plays out from here.
 
Re: MTN - Marathon Resources

6.40 proven support and sp consolidating sideways approaching upward trend line. If goes to long term pattern should bump up around green circle.

Those final assays delivered on 2 July looked very good. Revised resource estimate due in August, hopefully on time, which will draw focus again. One rig still working with another due mid July, but wouldn't be surprised with a delay due to the overload in the sector.

Now all I want to hear is Carpenter come out with a bullish statement for Mt Gee mining, to clear the air over the environmental issues which I think are still clouding it, and is why it still seemed undervalued pound for pound compared to others as has been discussed here in detail.
 

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Re: MTN - Marathon Resources

kennas said:
Now all I want to hear is Carpenter come out with a bullish statement for Mt Gee mining, to clear the air over the environmental issues .....
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What the background story about Carpenter here, will he be of any significant influence over Mt Gee? Or did you mean to say Mike Rann?

Yeah share your same outlook and all is looking nice and good for MTN at the moment. Somehow this counter has been overlooked by most u-investors. Actually looking forward to bigger uptrend once the BFS is able to identify the practical and amicable environment $ method to mine and process the ore.

Cheers ....
 
Re: MTN - Marathon Resources

ooops, too many Pisco Sours for kennas. Or course, Rann.

Seems they have to go for underground mining to satisfy the tree huggers unfortunately. Real shame, because the yellow foot rock wallaby isn't really THAT cute. They're in Zoos for Gods sake, why do they need to stay at Mt Gee!!

So, underground mining is a drawback, but with these grades and tonnage, it's economical. With their other developing assets I don't see MTN being independant for long.
 
Re: MTN - Marathon Resources

Quite a drop this morning, there were just no buyers with decent volume. Had a low of $5.87 but back upto 6.02 once some support formed. Wish I had some free cash atm, could potientialy be a good time to top up IMO with the possibility of the revised resource estimate in Aug. The fact that the sp dropped so much with such little volume does worry me a bit. Yesty morning I had been buying and selling quite a bit between 6.30-6.40 & 6.58-6.60, made a nice little profit but now wish i hadnt made a final purchase to hang onto. Ah well im still happy with mtn for the long term.
 
Re: MTN - Marathon Resources

ahspritemk said:
The fact that the sp dropped so much with such little volume does worry me a bit.
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Be more concerned when this occurs on volume. No drop is a really good drop IMO, but gentle sideways is OK which that was not!! Might be conforming to that upward supprt line, to be confirmed later. If you're just getting in, then don parachute. U market is a bit skittish atm, but as has been discussed here previously, this is one of the better ones to be playing with, pending environmental concerns.
 
Re: MTN - Marathon Resources

kennas said:
So, underground mining is a drawback, but with these grades and tonnage, it's economical. With their other developing assets I don't see MTN being independant for long.
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I reckon equity-wise it will a tight game for any buyer as the last I remembered is that Citic Resources and Talbot Coal collectively hold 19%, although they may split as each have quite different long term agenda with Citic more into it to secure uranium supply line for its motherland China. Personally if this were to happen I would prefer it to be after the BFS to milk more value for existing shareholders. But then of course it may be an offer the current mgt and major shdrs cannot refuse.

What do you think about their mgt capability to bring the mine to production? Appointed new CEO Stuart Hall with some experience in BHP/Rio/WMC. Anyone heard of his actual track record in these organisations?


Cheers
 
Re: MTN - Marathon Resources

MBI said:
What do you think about their mgt capability to bring the mine to production? Appointed new CEO Stuart Hall with some experience in BHP/Rio/WMC. Anyone heard of his actual track record in these organisations?
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I question ANY explorer's capability to bring a project to production unless they have done it before. What have MTN done as a team? Nada, as far as I can see. Happy to be corrected. I think their best path forward is JV, before they get bought out, pending BFS with authority to mine under the yellow foot rock wallably sanctuary!
 
Re: MTN - Marathon Resources

kennas said:
6.40 proven support and sp consolidating sideways approaching upward trend line. If goes to long term pattern should bump up around green circle.
Click to expand...


Found some support yesty, but late last week I got my first real signal to bail. Holding to see if it can recover $6.00 quickly, but if not I think it's head for the bunker and wait for another entry signal for me.
 

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Re: MTN - Marathon Resources

kennas said:
Found some support yesty, but late last week I got my first real signal to bail. Holding to see if it can recover $6.00 quickly, but if not I think it's head for the bunker and wait for another entry signal for me.
Click to expand...

It is looking pretty ugly this morning at 5.72/1.
You may be right to head for bunkers.
I will wait a little longer and do likewise when the downtrend is supported with volume.
Any inkling what may be the reasons for this selldown?
 
Re: MTN - Marathon Resources

MBI said:
It is looking pretty ugly this morning at 5.72/1.
You may be right to head for bunkers.
I will wait a little longer and do likewise when the downtrend is supported with volume.
Any inkling what may be the reasons for this selldown?
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Could be part of the overall consolidation, ev/lb it's getting even cheaper, but that's gotta be for a reason. Loss of confidence in sector? People concerned the Govt won't permit mining at Mt Gee? Profit taking with $$ being put into iron and oil? Volume looks like it's coming off as it consolidates, so there's something to hang on to.. :dunno:

Need Rann to say this is a significant find for investors to come flooding back IMO.
 
Re: MTN - Marathon Resources

maybe this was caused by delayed reaction to uranium stocks???

all other uranium stocks consolidated and came right off their highs where as MTN maintained its uptrend. maybe this sentiment is just catching up to MTN.

prob a lot of profit takers shifting back into iron ore!
 
Re: MTN - Marathon Resources

i tend to agree...
also noticed a decided weakening in sentiment after the japan earthquake...

the thing about the nuclear industry, esp in Oz, is that its on a knife edge... one dodgy reactor explosion, and its all over
 
Re: MTN - Marathon Resources

Nothing earth shattering about their quarterly really.

Mention of the environmental concerns but nothing to make you sleep better.

Spent $800K on the defence of the Butterbrains offer, which seems crazy. I could have defended it.

They don't seem to be moving too fast here, or do I know nothing?

The 'proper' scoping study is to be completed by the sounds, then PFS 'early next year', BFS, DFS, what other sort of FS can we fit in......

One positive I suppose is that the resource estimate is going to be certainly upgraded and the initial scoping study was done on a low conversion factor, which will be lifted.

Anyone excited about the report?
 
Re: MTN - Marathon Resources

I don't know if I'd say I was excited, but it looked pretty good to me. I Liked the "A revised resource statement will be released shortly, once signed off by the independent resource estimation consultants." bit. It doesnt look like this is too far away which will hopefully get the company a bit more attention again and maybe going in the other direction.

I also noticed the takeover defence expenditure and think its ridiculous, the takeover had no chance to go through, but it cost that much. Not sure if it's the companies fault for spending too much, or if thats what it takes to defend a company from a takeover.

It looks like the company has a reasonable timeline to the BFS, seems a lot more focused than the company previously was. Probably the doing of new directors.
 
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