Mart Resources Inc MAUXF

Good start this morning

[wallywill]

Good start this morning fellow Martians! Tomorrow we go on the big board! I see that there are some desperate individuals trying to start a rumor about Mart needing financing. Do they really think that people are that gullible? GLTA Wallywill

[gibbonsj]

You expect MMT to make an acquisition and you want to keep the divi. How else are they going raise money? Don't think the move to TSX was for status. It was for access to funds. I belive Wade said as much.

[weinerdog65]

Gibbonsj, I thought Marts line of credit which was raised recently would be sufficient to cover the new acquisitions?   Cheers

[gibbonsj]

LOC does not cover even a small portion of what would be needed. We're talking substantial cash for flowing oil plus large reserve, besides loc is expensive money, raise money in the market you don't even have to pay it back.

[5wood]

Gibbons, the cost of the equity issue, if dividends are included, would be equal to or higher than the LOC. I would think that even if the dividends were stopped or reduced for a period of time (if we are successful in obtaining one of the leases) Mart would reinstate the dividends at some point. The increased number of shares issued would generate a large dividend payable on these additional

[gibbonsj]

sounds logical. I don't like the divi so I'm totally onboard with what you say. The problem is dropping the divi would cause a sp to fall which is contrary to doing a financing. Not sure what realistic options there are. Perhaps a convertible, interest bearing debenture or bond?

[wallywill]

Mart has more than enough funds on hand as well as the LOC to get another marginal field. The pipeline will be finished this year and production could double from its current levels once it comes on line. We have wells with oil sitting behind the pipe and the central production facility has the increased capacity to 35,000 BOD. With that being said, Mart is in Nigeria and just about anything can

[gibbonsj]

wallywill, Wade has come out and told us his logic behind the TSX move. I don't think there's any question there.