Mart Resources Inc MAUXF

Vindicated

[takingthemon]

My target price was reached over the last two days. All of my work was indicating that this stock wanted to come back to these levels for a retest of support. We can say it is because of this or that but the data does not care,it simply points to a number.

I did mention that I had conversations with numerous larger shareholders and WE ALL have been very disappointed with WADE and AGIP. The security issues as I commented on much earlier this year, once again proved my contact down there to be right on the money. The losses have not been fixed and in fact the pipeline that Mart is using is worst today then before in many ways. (That's all I will say to that issue.)

So the numbers are out and things look interesting. Mart has been under financial pressure since Nov 2012 when the pipeline losses started to really go up. Many of you will remember that I posted the losses before Wade "Mart" told the market. This is not insider information simply people down there talking.

Mart now has to think of some interesting ways to extend it's cash on hand. Remember that the company has debt..line of credit....owes money/barrels back to the Agip...and has a short fall in the funding of it's dividend...and so on.

Many out there will simply refer to the 2014 earnings and say no problem.  To date this company started disappointing last Nov 2012 and has yet to stop. Delays in the new pipeline and the further issues with drilling indicate that a closer eye may need to be taken.
I am also very worried at the lack of comments Wade has given shareholders on new and improved security measures. The only security improvement mention is lack luster at best when compared to the others available. I have reported many times that many different kinds of security are available that would greatly increase the response time in detecting any tampering. Both the new operator and Mart have a vested interest to pursue this.  That being said.

I have bought back my original position as of yesterday average cost of $1.23 and have a target of $1.50-$1.57...providing the company does not have any other issues. 

Regards