MXR

2.17%

4.5¢ maximus resources limited

Ann: Strategic Placement to Accelerate Drilling, page-149

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asx708

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23/09/20

18:39

Post #: 47576933
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Originally posted by Michaeljob: ↑

$3.18m raised with the directors chipping in $180k and Tolga Kumova $1m. Having now seen quite a number of stock react to TK's investments it seems MXR is just the same. TK brings with him a flurry of get rick quick investors/traders, they borrow his conviction but can never replicate it. This is why you see a sharp rise and then often a decline following as they drop away again. Last week over half the shares on issue were exchanged as predominately traders jumped on and then off.

The thing most who follow TK lack is patience, he's got a few hundred baggers under his belt and this is due to his ability to first find companies with the right risk v's reward profile and secondly to hold them until they deliver (or not). The conviction part I suspect is somewhat easy for him, he has access to some of the best geo's in Australia and probably the world. They I imagine have done more due dilligence here than most would have the capacity to do and as a result TK spent $1m to give MXR the chance to prove what is a pretty solid thesis about the regions gold endowment.

"Funds raised from the placement will allow the Company to accelerate exploration programmes at prospects around the historic high-grade Wattle Dam Gold Mine, following recent positive drill results of 3.0m @ 83.3g/t Au from 25m, including 1m @ 245g/t Au1 . The placement funds raised will also be used to complete further exploration across the Company’s Spargoville tenements, the completion of studies required for the Company’s Larkinville and Eagles Nest resources approved for mining and for general working capital purposes"

Let the traders ebb and flow, the money here will be made on the drill. I for one see MXR as an extremely well weighted risk vs reward play. Hell the royalty stream and 112,280 oz JORC resource underpins the current valuation. Drilling success is all upside IMO

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well said.
im convinced and in today.
thanks for your detailed post. I

MXR Price at posting: 16.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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(20min delay)
Last 4.5¢		Change -0.001(2.17%)		Mkt cap ! $19.25M

Open	High	Low	Value	Volume
4.7¢	4.7¢	4.2¢	$42.78K	958.1K

Buyers (Bids)

No.	Vol.	Price($)
1	78891	4.5¢

Sellers (Offers)

Price($)	Vol.	No.
4.6¢	54339	1

View Market Depth

No.	Vol.	Price($)
1	78891	0.045
1	300000	0.044
1	369531	0.043
2	437620	0.042
1	500000	0.041

Price($)	Vol.	No.
0.046	54339	1
0.047	302980	3
0.048	39560	2
0.049	308920	5
0.050	1050367	3

Last trade - 15.35pm 04/10/2024 (20 minute delay)

MXR (ASX) Chart

Ann: Strategic Placement to Accelerate Drilling, page-149

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

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White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

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Ann: Strategic Placement to Accelerate Drilling, page-149

Top Stories

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Buxton projects new graphite province discovery at WA Narryer play

BCI reaches close of funding facility for salt-first part of Mardie project

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

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White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

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Buyers (Bids)

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