Continuing the comments from the last post on this "310m depth of iron-ore mnd1" thread .....looks like some of the MNMO value was realised today and MXR remains a value stock at end of trade today following a review of indicators. Some of the other threads on MXR are unfortunately a bit consumed in debate about the non stock holders and "who said what" etc, which could possibly be distracting attention away from the recent very positive announcements.
A couple of comments that might have been missed..... MXR management are required to report numerous matters of interest to the market. They have done this. On many other threads I often read criticism of other company's management because they don't report progress often enough. The evolution of the significant canegrass iron-ore prospect is of National significance let alone local importance, so it is more than reasonable for MXR to be reporting to the market on a regular basis. In fact, many oil and gas companies report daily on their drilling progress even if it is just the depth the drill rig has reached at the end of the day. They report daily on any changes to the conditions and findings. If anything, the nature of the reporting could be argued by some as being too technical in nature and should have a more comprehensive executive summary focus of the target, the drilling program, the long term goals and the potential market scenarios for the different quality and size of the potential resource. The use of a media and marketing consultancy with a mining based cv could be a good idea ( they may already be using one but I don't think so). In relation to the MXR announcements being compliant, my understanding is that the company consults with legal personnel and with the ASX prior to releasing the announcements. Having done this, it would be reasonable to expect that the news is accurate and compliant in relation to the reporting of such news. Nothing has been said in other posts that changes my opinion that the drilling currently under way at Canegrass for a massive iron-ore deposit is a "company maker". The current selling is allowing buyers to enter at low prices and secure a position in the future of the company. Some of the sellers would possibly be disappointed if they are in a position where they have to sell for financial circumstances but as each person sells, someone buys. The time frames and risk profiles are different for everyone and whether or not Maximus proves to realise the value I believe it has in Canegrass remains to be seen. I like what I see, I am continuing to buy and I anticipate that the future for my shareholding in Maximus will be well worth it.
MXR Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
