spp

so the company has raised a couple of million - good on them

for those who think that the issue was well supported by shareholders, then that is not correct. after taking into consideration the amounts that could be taken up (ie $2000, $5,000 or $15,000), it is possible that only 500, or 600 shareholders were interested - which would be about 1 in 5 shareholders

in the spp report to the stock exchange, the following was stated

"Additionally, successful exploration may significantly enhance the value of the Bird in Hand prospect by allowing Maximus to spread the capital costs required to bring both projects into production across a greater resource base."

now - what did watso write in Post #: 3965415

"in relation to bih , then in broad terms watso would think that they need a lot more oz to justify doing a development. the real problem is that the oz will need to justify a stand alone mill."

watso certainly on the ball with that comment - and now watso will let mxr holders in on another one of watso's thoughts

some time ago, the company put almost everything up for grabs - either by way of sale, or farm out. it does not take that long to do a deal - and the only deal that was done, was to sell the magnetite prospect to a sister company. to watso, it would seem that there was a lack of interest, which included narndee. mxr's (and mxr shareholders) best interests would have been best served by getting others to spend good money.

the last quarterly report included the following

"Discussions with interested parties with respect to divestment of the Windimurra uranium resource and Flushing Meadows gold resource at Ironstone Well continued. • Maximus invited several parties to review the Narndee Base Metals Project and its related electromagnetic anomalies with a view to farming out this extensive tenement package.

.........


any drilling at narndee is a long way into the future, as there simply are no "walk up" drilling targets. a lot of ground work needs to be done to firm up drilling targets - and indeed, the last report from mxr mentioned that they would undertake "preliminary work" at narndee.

given the size of the area, there must be some pretty big annual expenditure commitments , and it might be, that if mxr have other priorities, then it would make sense to let someone else meet the commitments

to watso, it appears that other companies are not interested in the ground, so maybe there should be some question marks there, somewhere

mmm on 14 september, in a report to the exchange, a statement was made that MAXIMUM of 55.5m shares will be issued - on a "FIRST COME FIRST SERVED" basis, or SCALED BACK on a pro rata basis... in the end, no such conditions, as the company issued as many shares as they could.

one would assume that mxr will have to negotiate with the farmers, for access rights for the drilling to take place.

and another mmmmm - some poster was commenting on the number of buyers vs sellers the other day, and that only $15,000 worth of sales would get the company to 3.5c - trouble being that instead of going from 3.2c to 3.5c, it has gone down to 2.8c

wow - watso better post this before he loses the post