Hi Miltiadis I believe MOX is currently way under value and sitting under the radar! They have a number of exciting projects that have the potential to be a company maker!The recent share price weekness is purely because of the recent capital raising and short term punters in thier for a quick turn, they will regret their decisions down the track.If you look at Marmota Energy currently aropund 15c,who MOX control and in JV's on a number of projects, you will get an idea of where they share price should be at currently.
They have had an exciting High-resolution aeromagnetic survey completed at Melton Project with Joint Venture Partner Marmota Energy and are planning a gravity survey to help better define drilling targets. Drilling planned for later this year and 1st Quarter 2010. The Melton Copper Gold Uranium Project (Marmota Energy Limited earning 50% under Melton JV Agreement with Monax Mining Limited)announced that preliminary high-resolution aeromagnetic data has been received over the Melton Cu-Au-U Project on northern Yorke Peninsula. The survey comprised 50m spaced flight lines and the preliminary results have delineated up to five high-priority targets. Interestingly Drilling by Rex Minerals (currently around $2.20)at the Hillside Prospect located approximately 40km to the south of the Melton Project has reported a close association between copper mineralisation and magnetite. The preliminary magnetic data shows two discrete north-south trending magnetic anomalies within the interpreted Pine Point Fault Zone. Three other discrete magnetic anomalies located to the west of the PPFZ have also been highlighted by the new data.MEU are planning ground magnetic and gravity surveys over the next two months followed by drilling between December and April 2010. Given the already spectacular results by REX Minerals in the region I believe this is just the start of some exciting major discoveries by MOX/MEU and substantial SP increases. With just on 100 million shares on issue the SP will really move on any positive results and drilling confirmation from the 5 five high-priority targets already identified. Hope that helps your decision to buy! regards Baz
MOX Price at posting:
9.3¢ Sentiment: ST Buy Disclosure: Held
