Chart has short term potential, page-156

Hi all, just hypothesising here from things I have observed since being a holder of MRM all the way down from around 70c (and topping up all the way.)

MRM is still working off Net Tangible Assets per share of $2.15.

In other posts, I mentioned that I built in my own margin of safety to say the NTA was at least 50c a share even at the absolute worst-case, fire-sale scenario.

As the price of oil rebounds there is reduced chance that the sky is falling.

In the last two days, we have seen a decline in the oil price, but still MRM continues its steady march onwards and upwards.

This indicates to me that sentiment around the return to sustainable future oil prices has improved dramatically.

And with each day that the sentiment improves, I can envisage a marked increase in the value of the company's assets.

MRM will still be reporting their NTA at $2.15 a share, but as sentiment improves along with the oil price, so too must my own personal valuation of the company's assets and future earnings improve.

So as we now approach the 50c share price mark, I am now more confident than ever that the huge margin of safety provided by the tangible assets of MRM makes this the best oil play on the ASX.

I am confident I can keep adding to my position well past the $1 mark now, and even then there is a 50% safety buffer on the actual share price versus the value of MRM's assets.

GLTAH, see you all on the good side of $1.