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Re: MTN - Marathon Resources

There's news that Uranium's spot price fell to 90 bucks... Kennas you may have noticed that prior to the massive market change MTN was already in a possible bearish state possibly brought by the beginning of falls in uranium spot prices... It could've slipped got knocked over yet didn't finish slipping... if that makes sense :confused:
 
Re: MTN - Marathon Resources

I was only looking at this myself this morning; its an appalling chart begging for a bottom pick. But if last nights Neilson SMA is telling us anything useful then its still got a way to go. There is no sign of positive buying pressure last night, as today's drop of 10% confirms. Bizarre!
 

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Re: MTN - Marathon Resources

And to top it off MTN are running out of cash... dillution at these prices would hurt investors who bought at higher prices
 
Re: MTN - Marathon Resources

with such a pathetic chart I'm wondering if MTN was a darling of hedge funds so now being sold sold sold till its just plain silly. Any thoughts?
 
Re: MTN - Marathon Resources

moses said:
with such a pathetic chart I'm wondering if MTN was a darling of hedge funds so now being sold sold sold till its just plain silly. Any thoughts?
Click to expand...

Bought at an average of $1.17 and sold out a long time ago at an average of $1.70. :banghead: But now I don't feel quite so silly. How low can it go? Limbo lower now.
 
Re: MTN - Marathon Resources

I think it's probably right that hedge funds in the stock for its takeover appeal are now forced sellers, along with daytraders and small investors who bought in at much lower levels and are happy to take any profit at all, while there's still some left to take. I note that the more advanced uraniums such as PDN and AGS seem to have found a bottom already whereas the ones with longer timelines to production MTN, EME, NEL, BMN are still falling.
 
Re: MTN - Marathon Resources

buttermere's offer is looking quite good now!!!

i wonder if they will bring out the old 67 cent offer just for old times sake :rolleyes:
 
Re: MTN - Marathon Resources

I still think a little early for bottom fishing as personally more inclined to the bears right now because the spot price of uranium has plummeted by a third from a high of $138 to $90. While quite confident that the speculative hedge fund positions may have been cleared out, there is no clear indication that significant new funds are rushing in with the inability to find an equilibrium to risk-pricing in the money market. May take awhile to settle down with current volatility. Watching the Chinese treasury with their newly billions $ investment vehicles, whether they are taking the plunge at current depressed share prices to secure their critical mineral resources (iron, zinc, alum, copper, uranium) needs. Right now CASH is KING, and feel that it is not necessary to rush-in until a clear reversal trend (not signal) is established.
 
Re: MTN - Marathon Resources

No question this Uranium dip and market "crash/correction" is a spectacular buying opportunity for deep pockets.
 
Re: MTN - Marathon Resources

It has been very quiet in here for a while. I was just going through MTN's last few announcements and noticed this from the 31st of Aug:

"Resource Update

Work continues on an update of the August 2006 resource estimate based on the most recent round of completed drilling in March 2007.
Due to unexpected delays in work being undertaken, the company now expects to announce a revised resource estimate during September."

Well its almost half way through September so id expect the announcement within the next 2 to 3 weeks. What I would like to know is, is the sp usually affected by these resource updates? How much can the resource estimate increase within a one year period?

In 2006 the resource estimate did not influence the sp but who wanted uranium back then:p:.

Cheers & happy hunting
 
Re: MTN - Marathon Resources

The much awaited MTN announcement didn't please holders and now MTN has fallen flat on its back... Announcement is a bit of a downgrade.
 
Re: MTN - Marathon Resources

insider said:
The much awaited MTN announcement didn't please holders and now MTN has fallen flat on its back... Announcement is a bit of a downgrade.
Click to expand...
This was supposed to be an UPGRADE! :banghead:

I'm a bit confused on what they've done here. They've discounted quite a proportion of the previous estimate for some vague reasons...Need to read into it a bit more...
 
Re: MTN - Marathon Resources

kennas said:
This was supposed to be an UPGRADE! :banghead:

I'm a bit confused on what they've done here. They've discounted quite a proportion of the previous estimate for some vague reasons...Need to read into it a bit more...
Click to expand...

did u read fat profits report, esp on resource downgrade
it was post meeting with comp directors or such

they say resource is likely to be reaffirmed post more drilling
im tempted to hop in if i can find some cash
see commsec has cappped lending on allegiance mining today....
cheers shag
 
Re: MTN - Marathon Resources

Hi Shag,
Any chance you could post the report or a link to it? That would be appreciated.
Cheers,
Dratoz
 
Re: MTN - Marathon Resources

I am still grappling with the impact on the share price from its latest resource downgrade of around 6% (42.8 Mton vs 45.6Mton previously). Reckon the bulk of the price decline is due to the 35% crash of u spot price over the past months. But ot sure whether $3 is fair value share price or will it go lower.

Seems also there are still lots of work/studies to be done before they can firm up a mining approach. There is not much clarity of what is the project direction or risks from here. This ambiguity is giving me lots of unease.

On the other hand with oil price at record high of US$83 and beyond, it is likely that uranium will be push to the forefront of alternative energy.

Any comments/views from our learned friends??

:confused::confused::confused:
 
Re: MTN - Marathon Resources

Dratoz said:
Hi Shag,
Any chance you could post the report or a link to it? That would be appreciated.
Cheers,
Dratoz
Click to expand...
its not that easy, for me anyway. and its too big to put here.
it likely will be posted on mtn's site in week
they don't say much bar call it a buy and oversold, plus initial respoource likely to be reaffirmed post more drilling.
i might try to pm it next week
cheers
 
Re: MTN - Marathon Resources

MTN has just completed almost a 100% move.
Why all the chatter and guessing?
Anyone get a piece of the last move.
Anyone still holding and from what price.
Those holding whats your exit strategy?
Anyone shorting it?
 
Re: MTN - Marathon Resources

tech/a said:
MTN has just completed almost a 100% move.
Why all the chatter and guessing?
Anyone get a piece of the last move.
Anyone still holding and from what price.
Those holding whats your exit strategy?
Anyone shorting it?
Click to expand...
Sold half on breakdown through $6, then half through $5, rest on breakthrough $4. Bought back in on capitulation day, sold on breakdown through $3.50.

Fundamentally, I'm concerned.

Technically, will look at it again on break back up through $4. Maybe.
 
Re: MTN - Marathon Resources

Shag,
Thanks for the summary. I agree with Fat Prophets. I reckon this company will be trading much higher than now sooner or later. Obviously I would prefer the sooner option....:):)
Regards,
Dratoz
 
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