Mart Resources Inc (MMT.TO) Buy, Sell or Hold

Mart Resources Inc (MMT.TO)

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BUY

It was a top pick in Dec/Jan and has had a nice move from then. Cash flows and quarter were good and he thinks they will pay a dividend soon, although he is not sure. It is in Nigeria so that is why it doesn’t get the multiple it deserves.

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TOP PICK

Oil/gas producer in Nigeria and producing about 5000 BOE's and their net backs are between $40 and $45. Earned $20 million in Q3. Expect they will be ramping up their production. Just announced that the pipeline is going to be expanded so will be able to produce more so expects that in Q1 and Q2 production will increase quite a bit. Extremely cheap. Now analysts are following this. Expecting a special dividend followed by regular dividend next year.

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Mart Resources Inc (MMT.TO)