I held for too long actually as I believed in the funny's too much. The company and it's managers are in deep doo doo by the look. Luckily at the time I was just playing technicals as there was some unertainty in Mt Gee. ie, A Red Footed Booby Reserve, or something... On the other hand, the company were reporting one of the best resources in the country with huge potential to expand. Then, they brought out downgrades. Who brings out a downgrade when the resource is supposed to be developing through resource expansion drilling that was hitting great widths and grades??My appologies for being so bullish early on. I hope I never led anyone astray. I always call it as I see it, even with stocks I own.
Yeah, you're right. I was presenting the good and bad and advised I sold when I did which was a long time ago. I think shareholders have been let down by the company actually. Maybea takeover and the new owners can get it right...Good luck long termers.
I held for too long actually as I believed in the funny's too much. The company and it's managers are in deep doo doo by the look. Luckily at the time I was just playing technicals as there was some unertainty in Mt Gee. ie, A Red Footed Booby Reserve, or something... On the other hand, the company were reporting one of the best resources in the country with huge potential to expand. Then, they brought out downgrades. Who brings out a downgrade when the resource is supposed to be developing through resource expansion drilling that was hitting great widths and grades??
This is going to be real, real, real, real, real, real, real, real, real, real, real, real, ugly tomorrow morning...
Check the last MTN ann Grace. That's how the company have spun the order by the Gov to cease drilling until they've cleaned up etc etc. Hard to tell the truth from spin here...
I need to read it again, but they made it sound like it was their decision....
//rant on
I'm talking about this particular persons statement in trying to take it from about one company's actions into an issue about whether any part of Mt Gee should be mined/explored or not. not illegal dumping in general. Just because one company has broken its obligations to take care of waste in accordance with the law it shouldnt mean that all mining/exploration at MtGee should be banned which is what somebody was trying to turn the event into.
But I now see who made that statement and I'm not surprised that he said that.
The issues at hand are:
what MTN has done and what effect it has had on the environment (long and short term). What measures have been taken to prevent this from occurring again? What needs to be changed and who will take responsibility for this?, punishment and corrective actions to recover the waste etc.
Whether Mt Gee should be mined/explored at all is a completely separate issue and should not have been in the article. Again, one company's actions at Mt Gee does not represent what everyone else in the area is doing.
It is a bit extreme to say all mining in a area should be banned because of one company breaking the law, and if he held that opinion long beforehand, (which it sounds like he does) I think it was inappropriate to have it in the article. You know what hes going to say anyway. What was the point of having his third party opinion in there anyway? To shore up his support at the next election?
//rant off
I'm surprised at how robustly MTN's price has performed today. It only dropped a bit and then rallied back up towards the end of the day. I don't think the full story has got to everyone yet.
.... Because, regardless of whether exploration starts up again a Mt Gee (and personally I don't think it should, but that is just my opinion), I don't think MTN will be carrying it out............ Watch for an EPA fine shortly.......//rant on
I'm talking about this particular persons statement in trying to take it from about one company's actions into an issue about whether any part of Mt Gee should be mined/explored or not. not illegal dumping in general. Just because one company has broken its obligations to take care of waste in accordance with the law it shouldnt mean that all mining/exploration at MtGee should be banned which is what somebody was trying to turn the event into.
But I now see who made that statement and I'm not surprised that he said that.
The issues at hand are:
what MTN has done and what effect it has had on the environment (long and short term). What measures have been taken to prevent this from occurring again? What needs to be changed and who will take responsibility for this?, punishment and corrective actions to recover the waste etc.
Whether Mt Gee should be mined/explored at all is a completely separate issue and should not have been in the article. Again, one company's actions at Mt Gee does not represent what everyone else in the area is doing.
It is a bit extreme to say all mining in a area should be banned because of one company breaking the law, and if he held that opinion long beforehand, (which it sounds like he does) I think it was inappropriate to have it in the article. You know what hes going to say anyway. What was the point of having his third party opinion in there anyway? To shore up his support at the next election?
//rant off
I'm surprised at how robustly MTN's price has performed today. It only dropped a bit and then rallied back up towards the end of the day. I don't think the full story has got to everyone yet.
Hello and welcome to Aussie Stock Forums!
To gain full access you must register. Registration is free and takes only a few seconds to complete.
Already a member? Log in here.