Street Smart Investor
Long-term horizon, energy, natural resources, micro-cap

Mart Resources: It's The Right Time To Buy This African Oil Play

(Editors' Note: Mart Resources trades on the Toronto Stock Exchange under ticker symbol MMT.TO, with ~$CAD 1.15M average daily volume).

Initiation Summary

Mart Resources (OTCPK:MAUXF), an oil & gas company in the Federal Republic of Nigeria, has been through rough times in the last 12-18 months. After surging to $2.24 on February 19, 2013, the stock declined to a low of $0.99 by October 10, 2013. Since then, the stock has gradually trended higher to current levels of $1.32.

This initiation on the company discusses the reason for a 56% decline in the stock in 2013 and the reasons for a subsequent recovery in the stock, which has accelerated since February 2014. Over the last five months,...

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