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Medusa Share Discussion Threads
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|>>> "Atlantic is right bears should be allowed to post.It helps keep a balanced view- Elban/ Augustgloop wasn't liked on here but the man was right. Just like he was right at vgm. His views and arga who had negative views have been kicked off for various reasons I can't remember.."
I am not being harsh. I am speaking the truth that many on here don't want to hear who live in delusion spun by false narrative of positive posts on the company only, even when it has become clear it is a dog.
Chipperfrd promotes this false narrative here by unjustifiably attacking me (and others) for posting the truth of the complete failure of this company to abide by any reasonable standards of reporting on business plans, adhearing to them and warning (as required by the ASX) at the time of failure. So in other words he promotes a BB that lies by default to all holders and readers and encourages unwary investors to invest based on his controlled narrative.
Medusa's management have a long history of lies and complete lack of ethics. When we invest in a company we should be looking at not just financials but quality of management which Chipperfrd heavily censors for his own personal benefit as a trader not as a holder like many who read this board.
As they say: "Buyers beware" of everything that is written here.|
|I too think the criticism of Chip was unjustified. He is the most generous and well informed of posters. I believe he posts as he sees it, others must make their own judgements.
|Thanks Deka I probably will be. Medusa could well be a stonking buy just at a time where I have sold.
They're on the cusp of finally getting the mine debottlenecked 😊 which could well allow 140 000 per year and costs all in under $900. Thats serious money right there.
I'd maybe risk more money and buy more if I had it. I just think that BLK is the better investment and safer.
Include the drilling budget which is significantly higher. If that yields results then the multiple will be higher at a time where they are getting there act together.
The good thing for many on the sidelines is the market will be waiting for the evidence of that to come to fruition. Imo.
Regards Chip . Clearly the man works hard and for free on these boards. Stevea is being harsh. I for one appreciate his input greatly. We've all seen similar sentiment wrote several times across these boards.
On this occasion we shareholders have been mislead by poor management and I have lost thousands of pounds because of there lies or there overly optimistic productuon targets.
Atlantic is right bears should be allowed to post.It helps keep a balanced view- Elban/ Augustgloop wasn't liked on here but the man was right. Just like he was right at vgm. His views and arga who had negative views have been kicked off for various reasons I can't remember..|
|Medusa has underperformed for many years and consistently failed to meet production targets.When certain posters expressed this view they were ridiculed.
You need honest discussion on a bb to make it constructive.
Chip has spent many hours researching companies and sharing his labours with us free of charge.Every investor must do their own research and then invest.
We don't share profits or losses with other posters.|
|Best of luck Andy,may see you back in sometime .|
Yes I really like BLK there large resource will earn them a big multiple going forward - eventually.
I see them as a A$1 billion company. Considering they're not long in production they're doing very well. Long may it continue. All the best|
|ILTL / Steve
Re BLK agree with your comments, I've been on board for a few months in a small way and doubled up last week. Hoping for good things from them in 2017.
Steve, disagree with your comments re Chip. We all make our own decisions re investing here or anywhere else. I'm sure he can speak for himself but the fact he has a very much glass half full view and has successfully traded invested here shouldn't in my view be held against him.|
|iltl. Well done and good luck with Blackham Resources (BLK). I sold my UK MML last year but had a large position in Auz which I hung onto as I had no other good options until Jason came along a few weeks ago with Blackham. It is a stonking company and everything that MML is not. Up 12.2% yesterday and could easily double from here short term after yesterday's report and be a multi multi bagger thereafter. So I'm rid of one of the worst managed companies I've ever had the misfortune to come across.
Thanks a bunch to Chipperfrd for promoting this company all these years, long after it was apparent to me and probably most here it was a complete dog. Narry a single sentence of censure of this company to this day from him despite the reams any unbiassed observer would have written ..... Too late I realised he was trading this like some others, so had no large losses like the majority here and was interested in one thing and one thing only. His own profits!!|
|Wish I'd followed the chart. It broke support at 60c.. that was the time to sell. Lesson learned.|
|I sold and invested in BLK listed on asx instead . Reason being they look like a better investment and I don't have enough money to be in both.
I'll contiune to watch & perhaps buy back in when they show the market the money. As in the first quarter after the lift shaft is complete. Where the AISC is under $1000 and they are producing over 30,000 per Q. I'll prob have to pay closer to A$1 by then- so be it.
Good luck in the mean time hopefully it recovers well from here for all shareholders.|
|augustloop - thanks and that is some erosion of capital ! Gold price picking up lately too and not helping MML due to such bad management . NCM looking good though|
|Proactive as well appear to be party to more insider information than this company will release to shareholders in the usual way via RNS's. Shareholders count for naught in their book it would seem ....
Medusa Mining (ASX:MML) A$0.46, Mkt Cap A$94.5m – Medusa mine development
Medusa Mining upgraded guidance for 2016 gold production last week reducing expected gold production to to 85,000-95,000oz from 105,000-115,000oz
Unit costs naturally rise as production falls with the AISC rising to $1,200 -1,350/oz from $1,00-1,100/oz.
The September quarter results were as expected but December suffered from a slow recovery in ore grades.
This combined with higher mine-shaft maintenance lowering ore tonnages served to reduce the ore and grade available to the mill.
The team at the CoO mine are mid way through their capital program which involves higher level of maintenance to ensure the mine can meet its capacity targets.
Underground development continues apace maintaining a rate of 4,500m per quarter for new development.
Maintenance to the L8 shaft will continue into the March quarter slowing up hoisting capacity
The final electronic components for the E15 shaft arrived two months late due to shipping issues as the Hanjin shipping company went bust. Medusa’s freight managers managed divert the container of components through air freighting the kit into the Philippines.
Medusa’s recently updated new ore resources and reserve statement shows 2.77mt of ore grading 10.8 g/t for 0.96moz of contained gold vs 3.5mt grading 10.2 g/t gold (1.15m oz) at June 2015. The good bit is the grade of the resource is rising while more drilling will need to be done to expand the resource again. Approximately 57% of the gold ounces in the resource are classified as “indicatedR21; with the balance “inferred̶1; see our last comment for further explanation.
Conclusion: We estimate that Medusa are running around one quarter behind as a result of the shaft maintenance and the delay to the electronic components with the capital programme now due to complete in September. The cash balance is likely to fall below the A$19.6m seen at end September.
|Why Medusa Mining Limited shares have been CRUSHED today
James Mickleboro January 12, 2017
It hasn’t been a great start to the day for shareholders of gold miner Medusa Mining Limited (ASX: MML). In early trade its shares have sunk 15% to 45 cents.
The reason behind today’s decline is a production revision released after the market closed yesterday. As you might have guessed, that revision was not a positive one.
Previously management had targeted production of between 105,000 to 115,000 ounces of gold with an all-in sustaining cost of US$1,000 to US$1,100 per ounce.
With the spot gold price fetching US$1,191 an ounce currently, margins were already extremely tight for Medusa.
But due to issues at its mine and subsequent higher mine-shaft maintenance requirements, production will now be lower and costs higher.
Management has revised full year production to between 85,000 to 95,000 ounces of gold with all-in sustaining costs of between US$1,250 to US$1,350 per ounce. It now costs Medusa more to pull gold out of the ground, than it can sell that gold for on the spot market.
This is nothing short of a disaster for the company and I can’t say I’m surprised to see investors head to the exits in their droves this morning.
Whilst I wouldn’t be in a rush to invest in any of the gold miners at this point in time, investors that do want exposure to gold might be served well with investments in Resolute Mining Limited (ASX: RSG), Newcrest Mining Limited (ASX: NCM), or St Barbara Ltd (ASX: SBM).
These three low-cost gold miners have all-in sustaining costs of close to US$800 an ounce, meaning they remain highly profitable following the sharp drop in the gold price since November.
But with gold prices tipped to fall as rates rise in the United States, I would suggest investors grab hold of these hot growth stocks instead. I believe each has enormous growth potential and can be bought at a good price today.
|Yeah BLK looks good from the little reading I've done from their website. Thanks again to Justin.|
|Atlantic. No problem. Blackham Resources BLK. hxxp://blackhamresources.com.au/
Just ASX. I have bought some.|
|Stevea thank you for sharing that information .Does that Company list on the asx only
And if so what is the symbol.|
|Dek. Remember Mercator Gold at Meekatharra? Take a look at 6 million oz Blackham Resources at Wiluna. Australia's newest gold producer with a mill costing $2 million up front, first pour last quarter, and ramping up to 100k oz/year initially, 200k oz/year 2018. Mentioned by Justin.
PS. If gold really takes off this year, gold miners will be valued not just on production oz, ASIC, profits, etc but also gold in the ground and for a small cap this is a huge resource being added to with all new drilling.|
|Haven't posted for a long while since I sold out when they delisted from the UK. As I said at the time, bringing in local management is a death knell. I've lived in the Philippines for 10 years and know that the only thing Filipinos are interested in is money in the pocket. Successful businesses here are not run by locals unless trained in the West.
When the Aus management gave in to local pressure there was only one way this operation would go and 3 years later it is playing out as predicted. I'll go know and have only been looking in because of Chips input.
Good luck, you'll need it.|
|Yes, glad i'm out after hanging on too long. I reckon the 35c level is going to get tested.
|Why does the announcement not surprise me? Have to say i am glad to be out and this would have been a new multi-year low had pog not shown the recent advances. The 20% or so reduction in production guidance means that MML is likely to burn cash this year, rather than add to the cash position as was expected. A very sorry state of affairs...
|If they achieve an AISC of $900 after the lift shaft is complete this year, then yes it's a very cheap and definitely a buy from here.
But do you trust them to do that?|
|Justin. Thanks for your post yesterday. Agree with all you say about Medusa. Some really good alternative Auz miners there that I am actioning.|
|rt hi, the buying strength after the open last night point to others in the market feeling the same way , we are not ALONE lol|