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Re: MTN - Marathon Resources

UBS has been buying up recently, now holds just under 6%


Good to see I'm not alone in my faith for this company
 
Re: MTN - Marathon Resources

You are not alone, I hold quite a alot of MTN.

I'm very confident in MTN. Obviously they have alot of Uranium, but the takeover bid at 68c gave me the confidence to buy, and at 70c it is a bargain!

Keep holding.... ;)
 
Re: MTN - Marathon Resources

Hmm, up from .695 to .765 in the past few days.

10% rise, is something happening? :confused:
 
Re: MTN - Marathon Resources

Yep,

UBS released today exactly how thy've gone about getting a 6% interest,

On marekt purchases AFTER THE TAKE OVER BID, KEY WORD AFTER!

They're buying anything on market in small chomps so as not to alert the mkt to it, sellers are starting to thin out + anyone who may have been a seller realises that they can wait to see how high UBS will chomp up to,


Something is definately up
 
Re: MTN - Marathon Resources

YOUNG_TRADER said:
Yep,

UBS released today exactly how thy've gone about getting a 6% interest,

On marekt purchases AFTER THE TAKE OVER BID, KEY WORD AFTER!

They're buying anything on market in small chomps so as not to alert the mkt to it, sellers are starting to thin out + anyone who may have been a seller realises that they can wait to see how high UBS will chomp up to,


Something is definately up
Click to expand...


Music to my ears.... :p:

Thanks!
 
Re: MTN - Marathon Resources

This is their 3rd re-estimate and the mkt just doesn't seem to care,

@ cut-off of 300ppm (which is what all the majors ie PDN are using) there's 30kt's+ U3O8 in the ground,

@ $48us/lb and 75c US/AUD exchange =

30,000 x 2,200 x ($48/0.75c) = $4,224,000,000

Thats right in ground value of $4.2Billion

Whats MTN's current mkt cap? around $35m

So lets see $35m MKT CAP VS $4.2Billion in ground value of 1 of 4 deposits


When will this get it proper value (At least $100m) attributed to it?
 
Re: MTN - Marathon Resources

YOUNG_TRADER said:
When will this get it proper value (At least $100m) attributed to it?
Click to expand...

I don't know, but I want it to stay off the radar so I can buy more! :)
Perhaps they need someone more local doing the estimates. Eitherway, they need to drill it more & I see this and the 2 previous rpts re:substancial holders as v+ve news. Glad to see they've dropped reference to 'tectonogenic analysis' as all it appears to be is standard structural analysis.
 
Re: MTN - Marathon Resources

Patience my friends.

If we can hold over a year and make a 10 bagger, our taxes are halved...

Alot depends on the Labour Party mining policy in SA I suppose. That is to be decided early next year isn't it?
 
Re: MTN - Marathon Resources

Well with the news that Uranium One has given the go ahead for development of their Honeymoon deposit in SA (unless I read the Miningnews report wrong...), "Thunderbirds are go!" for SA already...
 
Re: MTN - Marathon Resources

Archinos said:
Well with the news that Uranium One has given the go ahead for development of their Honeymoon deposit in SA (unless I read the Miningnews report wrong...), "Thunderbirds are go!" for SA already...
Click to expand...

Wow, that is interesting, I have noticed Uranium shares mostly rise a little in the past two days.

Can you please post that article?
 
Re: MTN - Marathon Resources

Yeah, saw that report too. Isn't it one of the three that Labor had approved those many moons ago?

MTN looking ok atm.
 
Re: MTN - Marathon Resources

from Miningnews.net.
AUSTRALIA is set to get its fourth uranium mine with sxr Uranium One giving the green light to the development of the Honeymoon project in South Australia, 34 years after the discovery of the deposit.

The development of the Honeymoon project is expected to cost $US41.5 million ($A54 million) including $5.6 million for working capital costs, and produce 400 tonnes of uranium oxide annually over a life of six to seven years. Cash operating costs are pegged at $14.13 per pound of uranium oxide.

Capital expenditure and cash operating costs have increased on a 2004 feasibility estimate of $24.6 million and $12.40 per pound, respectively.

The project has a net present value of $37.7 million at an 8% discount and an internal rate of return of 40%, applying a flat uranium price of $46.50/lb over the life of the project. The uranium spot price is currently $48.50/lb.

The development decision comes after a review of a 2004 Ausenco feasibility study by Mayfield Engineering and Aker Kvaerner Australia and a revised mineral resource estimate compiled by Adelaide-based Ore Reserve Evaluation Services.

Extraction of the yellowcake will be via in situ leaching and the project is fully permitted with a mining licence in effect for 20 years. sxr Uranium One said it plans to finance the project with a mix of finance from debt and internal sources.

In addition, sxr Uranium One has revised the indicated resource to 1.2 million tonnes at 0.24% uranium oxide for 2900t.

The company said while the grade of the deposit has increased from 0.11%, the resource has reduced by 12%, with the company excluding a number of thin, low-grade intercepts believed not amenable to ISL mining.

Honeymoon is expected to come online in 2008....

I haven't chased up details re when they got permitted, however I don't think it's too long a bow to drawn in saying that the development should give substantial impetus to the push for further U mining activity (in SA at least).
 
Re: MTN - Marathon Resources

and from ABC online...

Australia's fourth uranium mine is a step closer, with resources company Uranium One approving development at its Honeymoon site in the far north-east of South Australia.

Honeymoon was granted a 20-year licence under the previous Liberal state government, and is now waiting on final approval from the Environment Protection Authority.

Uranium One's Greg Cochran says he is confident of getting that approval before production starts in early 2008.

"The current State Government has been very supportive during the approvals process," he said.

"The standards that both the South Australian and Federal governments set are extremely high."

Honeymoon will be Australia's smallest uranium mine, and will employ about 50 people.

Uranium One has already secured markets for its yellowcake uranium in Europe and in North America.
 
Re: MTN - Marathon Resources

It is 78 cents now.

Up 8.5 cents or 12% in a couple of days.

Definately something going on...
 
Re: MTN - Marathon Resources

PARALANA MINERAL SYSTEM
MT GEE DEPOSIT: REVISED ESTIMATES DEMONSTRATE
HIGHER GRADE RESOURCE
HIGHLIGHTS
1. NEW ASSESSMENT CONFIRMS SUBSTANTIAL INFERRED
RESOURCE AND HIGHER GRADE OF THE MT GEE DEPOSIT
(KRIGING METHOD WITH RIGOUROUS YAMAMOTO CORRECTION *)
(a) CUT OFF GRADE 1,000ppm YIELDS 10.1Mt @ 0.133% U3O8 FOR
AROUND 13,500t U3O8
(b) CUT OFF GRADE 500ppm YIELDS 25.4Mt @ 0.081% U3O8 FOR
AROUND 20,600t U3O8
(c) CUT OFF GRADE 300ppm YIELDS 45.6Mt @ 0.068% U3O8 FOR
AROUND 31,250t U3O8
(COMPARES WITH 59.0Mt @ 0.062% U3O8 FOR AROUND 36,650t U3O8
USING ORDINARY KRIGING METHOD)
2. FULLY FUNDED DRILLING PROGRAM AIMING TO UPGRADE
TO INDICATED/MEASURED RESOURCE SCHEDULED TO START
LATER THIS YEAR
3. MINING SCOPING STUDY PLANNED TO COMMENCE EARLY 2007
4. ORE GENESIS STUDIES: URANINITE (UO2) DOMINATES MT GEE
MINERALISATION INDICATING SIMPLER EXTRACTION PROCESS
 
Re: MTN - Marathon Resources

dubiousinfo said:
Couldn't SA Govt give the next U mine approval to an Australian company. :(
Click to expand...


Ridiculous isn't it!! :banghead:
 
Re: MTN - Marathon Resources

Perhaps, but then again it is this exact situation that has given rise to the current opportunities :)
 
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