Monday, March 03, 2008

Keeping the heat on Marathon

Adelaide is in the middle of a late hot spell.

We’ll have mid-thirties for the rest of the week, rising to 39 degrees on Sunday and Monday.

Eight hours north by car, and things will be a tad hotter again. Especially at Mt Gee West and at Hodgkinsons, two additional Arkaroola sites that Marathon Resources admitted to having dumped waste at in a statement on February 20.

In the case of the Hodgkinsons drillings, care samples and other waste were placed in 200 litre drums and buried. This was done two years ago.

PIRSA (Dept. of Primary Industry and Resources in South Australia) inspectors are reportedly visiting these sites later this week to determine the nature and extent of Marathon’s vandalism, and to ascertain remediation requirements.

Media reports of the latest PIRSA check are at least ensuring, in a very hot week, that the heat is being kept up on Marathon , even if PIRSA’s role is pretty suspect (as an arm of a state Government that badges itself as pro-mining and pro-uranium).

Further heat has come from the Australian Stock Exchange in a series of letters that raise questions about insider trading and disclosures of information. The latest of these (prefaced by Marathon’s attempt at a reply) is here: http://www.marathonresources.com.au/pdf/080304_ResponseToASXQuery.pdf

There’s some mild frustration over in the chat rooms, too. hrcaboc (a Marathon skeptic), on HotCopper’s website observes in relation to former CEO Stuart Hall’s law suit against Marathon, that “These guys just keep attracting attention to themselves. Just as well MTN is run by lawyers.” A few posts later, Danube writes with typical comprador (traitor class) mentality: “Go pray for CITIC, or Sino-Steel to through (sic) in some money….Only the Chinese can save MTN because they are the biggest customer in WA, and soon in SA. They have the bargain power, politically, financially, and economically. Nothing wrong with that, let them pay premium.”

Also recently noted, Paydirt’s annual Uranium Conference, to be held at the Adelaide Hilton on March 18-19, 2008.

The program is not yet finalized, but, like last year’s conference, it will be opened by Paul Holloway, the state Government minister responsible for primary industries and resources, and the man who opened Marathon’s new Port Road offices last year.

What is less certain is whether any of the Marathon men will be making presentations. Santich delivered a paper last year entitled “Mt Gee uranium deposit – resource to mining – current status”.

If I had a spare $995 I’d register online at http://www.paydirtssuraniumconference.com ; it would be worth it to hear the same paper with “current” removed and “continuing” in its place!

On the other hand, maybe I will be there anyway, only on the outside with a big placard, rather than inside with a cocktail.

…………………..

One of the great things about blogging is the quality of comments left by readers. Since I’ve started this series on Marathon/Arkaroola, some great comments have been left by Nigel, Xanthopus, Bill, John, Annie and, invariably, Anonymous. Hope I haven’t left anyone out. Some really astute comments worth going back to and looking at. Keep them coming!


So, what's a no-brainium?

Wrecking ARKAROOLA for uranium!

1 comment:

Xanthopus said...

The reply is indeed a classic - because I'd have thought any 'reasonable person' might well have drawn some conclusions rather dissimilar to some of those drawn by the company...