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Closed at .754 (59p), down 4.31% on 58,699 shares.
Many miners are down 7-9% today. MRDLF on OTC currently down 8.41%. Buy the dips they say, so opportunity is knocking.
Marl is starting to look very attractive and will look for an entry point soon. Its been said on here before, but if investors are happy to back projects with big bucks in certain West African, Asian and Central American states, then we should not be overly cincerned with Marl's interests in Turkey. Erdogan is a bit of an unknown quantity but he of all people will know he needs foreign investment in a stable, sensible legal and regulatory framework to bolster the country's finances. Once the political tension settles down which they will, things should improve a lot for Marl. IMO
Now's your chance Earthling!
Excellent post Ludeck - recommended. In regards to warrants, there are a number that need to be exercised by the 27th April - for anyone interested, pls see my previous posts re: numbers etc - posted on Friday or Saturday just gone (I think!) DYOR etc
Thank you ludeck for your excellent and informative reply. Definitely food for thought in your comments. Thanks
are for any drop, all the Investors here know how rare it is to invest in a potential Mine,that turns out to be a winner.PEA has now proved the viability of the site with plenty more to come.So we all have our own estimate of the eventual value to shareholders which will be well above the present price.Given the rarity and reward of one mine,what would be the potential if Ergama delivers.(Rhetorical)
IMO, there are four possible reasons, and it is almost certainly a combination of all of these: 1. Political uncertainty in Turkey. 2. Warrant selling 3. Continued uncertainty over when HM will be monetized, and in particular whether Mariana's 30% stake will prove to be a limiting factor in getting fair value 4. Limited recent newsflow, and general investor apathy as a result. This could be compounded by the fact that a 2-monthly schedule of drilling updates provides clear opportunities for traders to buy the dips and sell into any rises. Fact is though, the drills are still turning, the third rig is either in play or very soon to be, and the results continue to be encouraging (albeit not as completely mind-blowing as they have been in the past). If we have warrant sellers, this can only continue for so long, and the company's cash balance is such that the issuing of further warrants looks to be a very distant threat. If we have traders "playing the dips" and suppressing rises, they will eventually blown out of the water by game-changing news, which we know will eventually come. If there is too much uncertainty about when HM is going to be monetized then this really only matters to existing holders who need to get their money out soon, or to risk-averse potential investors who are going to lose out. We know this asset is an incredible one and will eventually be monetized, and we know that when this happens, Mariana's mcap will be significantly higher than it is now. What we don't know is how long that is all going to take. And finally... there is of course concerns over Turkey. I don't really have much to say on this aside from the fact that - from everything we know about Lydia - we appear to be in the best possible position to overcome these concerns. Whether that is enough will become clear, and that (IMO) is the risk here. Good thing the reward still massively outweighs it...
Is the price drop to do with all the bullshit happening in Turkey and the instability of the country?
Agreed Ludeck! Think they cut and paste the wrong answer in.. can't believe this would have been a verbal response, mind you Glen's responses can sometimes be er..convoluted..
Date in the diary, thanks spudulika. In fairness, I thought this response was pretty lame!! >Q What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these? >A Working in prolific mining areas in the world we focus on aligning ourselves with the best people and partners to help set our projects up for success and continue to build shareholder value.
But some of you guys can (and should!) http://www.weare121.com/121mininginvestment-london/mariana-resources-management-interview/
MM's closed it at .778 (61p), up 3.01% on 300 shares at closing - total of extremely low 15,750 shares traded on the day.
I am well aware one could buy at just below 60p earlier today
Here soon, if they haven't already Usually followed by the rise, sneaky MM's I'm staying and topping up under 60p if we get that this week
I should add that on the weekly chart the 50 DMA (.726) is far above the 200 DMA (.21) with both climbing.
Opened at .76 then soon moved to .80 (63p) up 4.53%,where it currently sits with only 15,450 shares traded. Bid .76, Ask .80. We'll see what the MM's decide to make the final price at the close in a couple of hours. On the daily chart I see the 200 DMA is meeting the 50 DMA at .838 as the 50 comes down and the 200 climbs. Rest of the week should be interesting.
Some positive comments on a Canadian forum: [@fb] Turkish stock market has started a big rally yesterday after the referendum. It will not be long until the traders here catch up with it $MARL. [@FundamentalAnalysis] @fb Ditto, managed to get another tranche filled. I think Erdogan issues are overblown....I mean if I can rely on West Africa for not seizing assets owned by companies I'm a shareholder of, logically I really shouldn't need to be worrying about Turkey. Its hardly a frontier nation, its reasonably advanced and actually an ally with the west in regards to Syria. Yes Erdogan is an authoritarian in many ways but can't see him being an isolationist, or having agendas on the scale the soviet countries or china would have. There was an interview on #realvision a turkish analyst explaining the situation in Turkey and it confirmed to me that I shouldn't be too concerned for now,and with Erdogan now receiving more powers ...anyway time will tell!!!!. $MARL.L
Correction - 72,000 soaked up straight away
IMO and looking at the sells - at least another 130,000 sold this morning...50,000 of which were snapped up straight away.. Whatever your thoughts on warrants...they are a necessary evil...and as soon as the 27th April ones are cleared, expect to see the share price bounce back up..all IMO of course...DYOR etc etc
So, not a great reaction from the market then......
Sorry - wrong board!
Watts resigned from Magna?
Many thanks to those who have clarified the position re warrants waiting to be exercised.
Closed at .765 (61p) on 49,500 shares on MMs last few minutes of trading.