Both companies have been guilty of putting too big a spin on otherwise ordinary results.
The story seems to have changed for both companies now - although I like the Vulcan prospect which Tasman is drilling, Monax are better placed having nabbed joint venture partners to foot most of the billing for their prospects. The recent results from Punt Hill, although very deep, are nothing to sneeze at.
And as has been covered, they've got plenty of cash and liquid assets. Marmota is a ticking time bomb - their shareholding alone in that warrants investors taking note (maybe not so much with MEU @ $0.11, however with U fever starting to build again, once MEU reaches previous highs, punters will like the leverage MOX should provide)
Interested to see the Nov $0.15 options being cleaned out today - certainly vote of confidence with MOX trading @ $0.08.
Unfortunately for companies who have stung shareholders in the past, their share prices can spend months, if not years in the doldrums. This basing pattern that Monax has formed has so much built up energy in it that a break of the stiff resistance at $0.125 - $0.145 has scary multibagger potential in it. As with Tasman, I've ignored my better judgment, forgiven past indiscretions and have taken a "PUNT"
Good luck all
Marchello
MOX Price at posting:
7.7¢ Sentiment: None Disclosure: Held
