Aphigsy,The market in general is very poor at present - just...

Aphigsy,

The market in general is very poor at present - just look at BHP and RIO and PDN and FMG - all down over 50% from their highs 6 months ago and some even further down than that. Regardless of whether the co. is producing or developing or god forbid exploring their SP is getting hammered. Every resource is also under pressure, Gold, Silver, Copper, Tin, RP, Uranuim etc...no one is immune.


I'm learning that investing in a explorer / developer come producer is tough work and requires patience and acceptance that delays will occur from time to time. I also have some money in BMN (Uranium) which is looking at developing a mine around the same time as MAK. The SP was at one point $4 + and only recently went down to $0.23...(its recovered somewhat now) they're in the same boat as MAK...still question marks over the project viability.

People are continually questioning how MAK will raise funds for OPEX / CAPEX, is the grade viable, will the port be ready, is there DSO, why is the scoping study delayed, are management not being truthful...what are they not telling us...the same questions are also being asked of BMN and I'm sure most other companies in the same position and slowly slowly the questions will be answered and the SP will reflect that.

The resource upgrade was a good sign last week or so for MAK, the OPEX / CAPEX costs next month will answer some more questions (hopefully positive) then the scoping study and DSO info in MArch will lend further support to the SP.

I myself would be worried if all other resource companies were still near all time highs and MAK was the only one languishing...most of the resounce co's on my watchlist are down 60% plus...so alot of it is a market thing, not just a MAK thing.

My view is that we're in for some pretty tough times the next few years so positive announcememnts will not rocket the SP to the lofty heights it was...it will take more time now. This rally we're currently experiencing is a bear market bounce and it's only a matter of time before we re-test our lows some time next year. Hopefully by that time MAK will have answered many more questions and silenced alot of the doubters and there will be alot more support for her, however if the DOW tanks 20% MAK is going down for the ride as well...

I would also suggest checking out the XJO thread for some info on overall market trends / cycles / info (there is some pretty heavy reading on there though) - there are some very good posters on there with very valid info so I believe you also need to take into account overall market conditions and not just MAK.

Anyway mate, there's plenty of people all around the world in your position (including me). Try and treat it as a lerning experience...I'm certainly trying...

All the best.


SW