Max Resource Corp V.MAX

re Halt

[nopoo]

Stock was halted because of acquisition of the Florlia Hematite Iron Ore Property, the LOI was signed on April 12th, the Freeport deal was released on May 13th and approved by the exchange May 29th. 

"The transaction (of the Florlia Hematite Iron Ore Property),will be a Fundamental Acquisition as defined by the policies of the TSX Venture Exchange (the “Exchange”) and is subject to approval of the Exchange and Max completing all filing requirements and shareholder approval, if required. Trading will remain halted pending receipt and review of acceptable documentation pursuant to Section 5.6 (d) of TSXV Policy 5.3 regarding a Fundamental Acquisition."

MAX needs to publish a 43-101 on Floralia before trading can restart than require a shareholder vote after the mandatory wait.

Ahead of the Herd

[rdesmarais]

this sounds like the halt will be in place for some time...weeks ? months? any estimate of the time would possibly be?

[deet]

Yea...no f*cking kidding. Dead money right now. Not impressed.

[rdesmarais]

ahead of the heard just released a report on MAX and the freeport deal with a positive outlook.  the last part of the report addresses the halt in trading we have seen for the last couple of weeks.  AOTH expects trading to resume once MAX produces a 43-101 report on the buy out of the brasil iron ore project.  How long it will take to produce? who knows?

[deet]

Sheesh. Now I wish that trading would have been halted longer. WTF! Down 33% so far on the first day of trade resumption with millions of shares being dumped. Can't figure this stock out. Buyer's remorse today.

[deet]

Now down almost 40% on the day. That's one hell of a sell-off. A penny away from our annual low. All recent gains wiped out in a single session. Guess someone doesn't like the pending deals recently announced. LOL.

[rdesmarais]

there seems to be a  determined seller (s) today and the previous trading sessions..who it is and why is a mystery.  the freeport deal looks to be good for MAX (no further dilution to fund exploration). I anticipate an early announcement of drilling programs. glta

[bigcomeback]

If they had gone their own route and funded all their own drilling, the dilution would have likely been the same as giving up 80 percent for $50 million. Even financing at 25 cents would have likely included 200 million shares issued and another 200 million warrants. This way they get Freeport as a heavyweight that can work with the government and get the project moving forward. Every $1 billion

[nopoo]

Good post. And let's not forget Freeport has an extremely high bar to beat, their starting criteria is at least 2mt of copper. They are the world's largest copper miner, and the world's 5th largest miner by MC. Of course they are not here for anything less than what will make a difference to their bottom line, which means a massiver scalable mine with extended LOM over many decades

[bigcomeback]

Stock just hit 6.5 cents with lots for sale and little bid. Shocking price action. 

[deet]

Shocking would be an understatement. More like catastrophic. Yesterday,  I emailed Tim McNulty at Max Resources to get his take on the monumental sell-off since shares resumed trading last Friday, but have yet to hear back from him. When things stabilize....and they still haven't, I intend to make the best of a really bad situation by picking up more shares in order to average down my

[rdesmarais]

good post nopoo....very strange that current price action is not reflecting that reality...have you any views which might explain this steady selling? thanks

[nopoo]

Investors believed they would be getting a certain amount of copper exposure. Wrongly imo, they now think they now have 80% less. Rick rdesmarais

[arrowhawk]

Probably the same herd that trampled Hercules.

[deet]

Hercules? Not sure what you mean....but it looks like sellers are determined to drive this stock even lower with lots up for grabs now at a mere 7 cents. It looks like 6.5 cents won't hold today. Hitting new annual lows with each new trading session. Why hasn't management issued some sort of statement?? Still no word from Tim McNulty. The silence is deafening. Thankfully, I haven't

[Michaelgooo]

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