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Re: MTN - Marathon Resources

The 1:5 rights issue comes at a reasonable time and price 2.50. Shouldn't have to think about it for too long.
 
Re: MTN - Marathon Resources

Anybody still interested in this?
What do you think of the Right Issue now?
Have you got the form yet? I have not though not entirely convinced to take part in it.
Cheers.
 
Re: MTN - Marathon Resources

Today I paid for mine. I am expecting better times ahead, not the least will be the resource upgrade from the current 60% to the whole drilled area. The whole Paralana sits on a low gravity anomaly, too.
 
Re: MTN - Marathon Resources

Thanks for reminding me, I forgot all about this form. I'm confident we haven't seen the end of Uranuium.
 
Re: MTN - Marathon Resources

Seeing as the board is quiet I thought I'd ask a question of whomever. Do we think that MTN has finally bottomed out or do we think it has a little way to go?
 
Re: MTN - Marathon Resources

prs said:
Seeing as the board is quiet I thought I'd ask a question of whomever. Do we think that MTN has finally bottomed out or do we think it has a little way to go?
Click to expand...
Potential bottom at $2.50. This is a clear support line. Breaking that however and potentially much lower. This must be looking pretty cheap on a U lb to mc comparison now. The last downgrade really shook them and there's still questions over clearances to mine in the Class A environmental area, unless this has been resolved?
 
Re: MTN - Marathon Resources

Thanks kennas
I bought in at $1.68 but I have an uneasy feeling despite the sentiment indicators apparently still being positive. I was hoping that $2.50 might pull it up and it does coincide with the closing of the 1 for 5 offer. MTN appears to perform behind the others and as they appear to be on the up I am hopeful that MTN will start to move very soon. Do you or anybody else share that feeling?
 
Re: MTN - Marathon Resources

prs said:
Thanks kennas
I bought in at $1.68 but I have an uneasy feeling despite the sentiment indicators apparently still being positive. I was hoping that $2.50 might pull it up and it does coincide with the closing of the 1 for 5 offer. MTN appears to perform behind the others and as they appear to be on the up I am hopeful that MTN will start to move very soon. Do you or anybody else share that feeling?
Click to expand...
prs, The market seems to be saying that they are very concerned that Mt Gee won't be approved, or they are concerned that management/lab team haven't got it right with the resource estimate. They may have lost a little cred I feel. There are many U stocks way off their highs and I have the feeling it's only the ones with great resources closer to production that will get up. That hasn't even stopped AGS getting smashed and they will probably be the next to mine! There's also concern about U price I think. Everyone was very certain about the supply/demand equation pushing U price higher and higher and then....it almost halves in 6 months.!! So, lots of factors for MTN I think. All the best, kennas
 
Re: MTN - Marathon Resources

Kennas, you may be right in what you say. From what I've read though the amount of Uranium in the ground is only slightly reduced from the original estimate and it's still good stuff. The area is sensitive and so underground mining is the best option and this has been established.
I'm hopeful MTN is going to enter an uptrend very shortly and there are two reasons for this thinking. Firstly, MTN appears to lag behind the others and I keep a spreadsheet on MTN, PDN and WME which supports this. Secondly MTN has been offering shareholders a 1 share at $2.50 for every 5 held , something that may have affected the sp of late.
I am informed that even though MTN has been displaying a downtrend, it has found a support line and as the fundamentals are still good, ought to make an upward move soon. This move was anticipated in October but as it lags a little, ought to start in November. The spot price of uranium is now starting to climb, probably with the advent of the northern hemisphere winter and the demand for fuel. I'm going to hang in there just a bit longer and live in desperate hope.
 
Re: MTN - Marathon Resources

prs,

That's a horrible chart......been a while since I looked at MTN and what a shocker. My feeling is with this change in market sentiment, following the sub prime correction, that a lot of speccies are getting dumped for safer stocks. I'd class MTN very spec with the chance it may not be approved and also the underground mine thing.

Check out other U stocks.......interestingly ERA are looking good, PDN coming back strongly, BMN consolidating well after a big rise, AGS seems to have found a bottom.........MTN seem to be still sliding.

Your well up on your purchase........how much more are you prepared to lose.....on paper of course.

MB
 
Re: MTN - Marathon Resources

G'Day Moneybags
I'm being advised and that advice is that the indicators are still strong for MTN and as such I will stay with it unless it gets to $2. MTN has JORC, it's in South Australia and their Premier is happy for uranium and other mining to go on, the company is strong, the demand for U is picking up with the Nthn hemisphere winter approaching and the spot price of U is picking up with even better pricing on the horizon. Even a bozo like me has trouble figuring out why MTN is still sliding.

However, further advice assures me that MTN has crossed over and is about to pick and as I have alluded MTN has traditionally been behind the others. I'm hopeful that come November, things will improve and the sp start uptrending strongly.

I've been watching a few others and while I'm impressed with some, still feel that MTN is under rated.
 
Re: MTN - Marathon Resources

Hey, no worries prs, hope it goes well for you.

At least you are in front on the stock so you still have time to exit if it continues to slide. As you say, it could just be the lag and be ready to find a bottom very soon. Positive day today at least.

MB
 
Re: MTN - Marathon Resources

Marathon Resources Ltd (ASX Code: MTN) today announced a restructure of its executive team.
http://markets.news.com.au/Announcements/2007/1101/00778813.pdf

And the sp jump by 0.58cts <21%>. Seems like the market is more than happy to see the CEO Stuart Hall off. As I had mentioned earlier, he is definitely not the CEO type, more of a bolts and nuts project mgr. So far he has been a pessimist focusing excessively on the downside factors on JORC estimates and project risks. There is virtually nothing on strategic direction or clarity as to the roadmap of what is needed to be done to get to a bankable project plan.

Let's hope MTN will be re-rated.
 
Re: MTN - Marathon Resources

Hey prs, sure hope you held on and received that nice rise today. Well done if ya did. Other U stocks up sharply too.

MB
 
Re: MTN - Marathon Resources

G'Day Moneybags
Thks for your message. I had been advised that MTN's support line may be $2.50 so I was prepared to go a little under that. I was hopeful that with 2 days of minor uplifts we were out of the hole and yesterday pretty well confirmed that. Yesterday was unbelievable at work, trying to concentrate on what had to be done and occasionally checking the ASX and as the day wore on the percentage increase grew. I gave up about 4.30 Tassie time and got a bit of a rush when I checked it at home.
This morning I checked a few indicators and I reckon we could see a bit of a pull back today.
Good luck everyone
 
Re: MTN - Marathon Resources

kennas said:
Potential bottom at $2.50. This is a clear support line.
Click to expand...
Perhaps a bottom found, pending our reaction to US and follow through tomorrow.

Why the jump?

Looks like a reversal to me, on volume..
 

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Re: MTN - Marathon Resources

kennas said:
Perhaps a bottom found, pending our reaction to US and follow through tomorrow.

Why the jump?

Looks like a reversal to me, on volume..
Click to expand...

Well the "pullback" for this stock, though that seems like like too light a word, Peak to trough, is about 64%.

Kennas, were you a believer on this one?
 
Re: MTN - Marathon Resources

nizar said:
Well the "pullback" for this stock, though that seems like like too light a word, Peak to trough, is about 64%.

Kennas, were you a believer on this one?
Click to expand...
No, not entirely, I thought I had represented my position throughout the thread.

My position still is that the SA Gov will do all they can to allow Mt Gee to be mined due to their current bullishness on the industry. There is still a risk that it wont, so we need to factor that in.

The deposit, even with the downgrade, is very very good. One of the top deposits in the country.

I've been watching closely to find a re-entry, or more solid information on the fundamentals.
 
Re: MTN - Marathon Resources

I hold a few for the potential of the resource. Personally I don't have much faith at all that the company can deliver, they failed to take advantage of a strong price and raise capital and instead do a rights issue sub $3, seems no clear direction or way forward, any wonder it languished so badly especially when U sentiment in general turned south?

Hopefully today's announcement is a new beginning. They can only do better.
 
Re: MTN - Marathon Resources

MTN has been sitting back for some time now. It appears to be sitting better than some but still the U sector is languishing. Now that Mr Rudd and his merry men have taken over and the bone headed rocker (Garrett) may be in control, what's the feeling about the uranium sector and in particular MTN? Do you guys think the change of Gov't will have an effect on the sp or is it a cyclical thing just waiting to take off again?
 
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