Mart Resources Inc MAUXF

RE:RE:RE:Long time holder

[zeus55]

I am not interested in a pissing match either.

But the fact remains that things have not "kept on ticking".

Mart's financial position was seriously compromised by the extended shutdown of the AGIP pipeline, which brought on the need for a loan to proceed with whatever their plans are. If the AGIP pipeline had not shut down, we likely wouldn't have needed that loan.
Now we have the delay of the new pipeline and the delays in getting UMU-11 and the horizontals drilled, which will also affect Mart's financial position in a very negative way, at least over the short-medium term.

Yes, the dividend continues, and is most likely supported by cash flow as long as AGIP doesn't shut down again. But considering what has transpired, the dividend has been a drag on the financials. It has supported the share price to a certain extent, but it has also weakened the company. No one can dispute that.

So you ask "what more do you want"?
Actually, what I would like is some clarity on what Mart's financial position will be if the new target dates are met. If the Umugini pipeline is finished and operational by the end of Q1 2014, and if the new horizontals are drilled and on stream in the same time frame, what would be our tax status at that time? What would be our net production share, what tax rates would we be subject to, and thusly, what would our netbacks be?
I don't think that is too much to ask, as those are the fundamental numbers that will determine if this company is worth investing in. Without that basic info, how is anyone supposed to make an investment decision? On faith? I don't think so.

Maybe I am too demanding, but I have been burnt far too many times by trusting managements to do the right thing. I am a 'show-me' investor now. If people don't like that, too friggin bad.