Metals Exploration Share Discussion Threads

[achillesheel] 14/12/2016 14:25

It was in the interim results

"The Test Run phase of commissioning previously undertaken by the company fell within the Development and Construction stage of the FTAA. The Project is now awaiting the approval from the MGB that it has commenced the Operating stage

On approval by the MGB that the Project has entered the Operating stage the date of the Declaration, 9 September 2016 (the "Date"), is significant for the following reasons:

i. Defined items of expenditure incurred by FCF Minerals Corporation ("FCF" the Company's 100% owned Philippine subsidiary) for the benefit of the FTAA Contract Area from the date of filing the FTAA (19 September 2009) up to the Date comprise the 'Pre-Operating Expenses'.

ii. From the Date the five year Recovery Period commences wherein the 'Pre-Operating Expenses' are recovered prior to the payment of the Additional Government Share; which will align the Government and FCF sharing the Project's Net Mining Revenues equally, 50%.

The MGB is currently reviewing the Company's Declaration. It is expected that the first export will take place in early October 2016 with revenues received shortly after the export of gold doré"

I seriously think that MTL are withholding price sensitive information against the FSA regs and aim 11 at this point. Obviously the recent placees were privy to this info which is why the placement was considerably above capital requirements, mates rates average down a bit, but to not give any indication as to gold sold or throughput is poor to say the least the only reason that I can fathom is to do with the capital repayment agreement and it's conclusion, if they are trying to finalise a better deal based on a smaller throughput??

[lord badger] 14/12/2016 14:07

Dave, I seem to remember something about this. Wasn't there a technical reason why we entered Commercial Production even though we couldn't commercially produce because the RSI works hadn't been signed off and then the additional compliance was requested by the incoming mines minister. I remember thinking it would trigger the FTAA tax holiday period. I'm not sure it was June though. Hope you and Tom are well.

[davegk] 14/12/2016 13:14

Interesting though in the article the government (MGB) states that we started commercial operation in June. Somebody had posted earlier that although we had informed the government that we had started commercial operation we have had no recognition or approval of this.

It seems either that this is not needed or that we have had it but it has not been reported, either way we are good to go!

[tombarr] 14/12/2016 12:41

Fair enough! salt, shovel.

[lord badger] 14/12/2016 09:59

Tom, I'd take that with a large pinch of salt. Unless management have been keeping a big secret from us, we don't have any silver. I'd put it down to poor journalistic standards and park that section of the article in the "hearsay" pile.

[tombarr] 14/12/2016 07:42

Gentlemen - Apologies if this has already been posted, but may be useful if not:

"The initial mine output of FCF which started commercial operation in June 2016 was 93 kilograms of gold and 20 kilograms of silver."

hxxp://thestandard.com.ph/business/223297/mining-production-shrinks-11-.html (to link convert the two xx to tt in URL)

Regards, Tom

[peterpowell21] 13/12/2016 15:27

i have just been looking back to see how much money MTL should have.
now in the interim results we were told.
At 30 June 2016 there were outstanding capital commitments amounting to £157k (US $211k) but it is expected a further £2.75 million (US $3.7 million) will be required to complete the enhancement works in the RSI and finalise the capital spend on the project.

at the end of sept we were told we had $6.9m from the sept placing, plus about $4m in gold.
it makes you wonder why we needed the $10.295m placing in november.
so we needed $4m to complete the work,that should have left us with almost $3m plus the $4m gold.
so today we should have about $13m in the bank plus the $4m in gold up to end of sept. so that would be $17m plus any extra gold since the end of sept.

i think its time the company gave us some solid news.
there was no need not to inform us of the exact amount of gold that was sold.
and i expect there was no need for that last dilution either.

they need to start taking PIs into consideration and inform us as well as the elite share holders.

[peterpowell21] 12/12/2016 12:03

i always wonder why we get shares bought/sold 314. no one buys/sells that few.
looks like they are just moving this down with the gold price.

[holism] 09/12/2016 16:24

If the company has all the permits is ramping up to 120k ozs per annum at a very low cost of production, renewed bank finance and the share price goes down I agree it does look as if we are sitting ducks. The only chance of a re-rate is the possibility of a dividend or takeover.I am with you Peter, confused.

[peterpowell21] 09/12/2016 16:16

all i can go by is what the company tells us.
are they lying?
i dont know. i have been in companies where they have lied.
and i have lost a lot of money,because of it.
but those companies have been owned by pi's, they seem to be able to do and say what they want to us great unwashed. no one cares if the great unwashed get ripped off.
but this is mostly owned buy a few big institutions.
they will try and take us the great unwashed investors out,so if the volume is low those in the know are sat there, knowing that its a shake to get the un washed out.
that is my take on things anyway.
i need to go and have a wash now. lol

[peterpowell21] 09/12/2016 15:57

is there a seller?
i would say no looking at the volume.
is bad news being held back?
with 2 billion share and only 1m shares traded again today, the answer is no.
it.s just a shake, the normal thing when there is big news coming.
so expect it to get worse before it gets better.
its just how AIM works.

[peterpowell21] 09/12/2016 15:48

achille

we have not really had any good news yet.
we have had news without meat on it.
the good news is being held back.
they must know we have a seller, so why give out the really good news for them to sell into.if they want to sell let them sell cheap.
but i am expecting a good shake, before the good news comes.
so i will not be surprised if it does hit the next support at 4.38p.
its just the way AIM works.

[wiseacre] 09/12/2016 12:50

I am expecting positive news by the end of next week. A bit confused by the fact that Ruffer is a seller.

[peterpowell21] 09/12/2016 11:58

on my IG charts this will either bounce back to its normal trading range or drop to 4.38p before news.
my money is on them spiking it down before news.

[peterpowell21] 09/12/2016 11:46

well there is the drop i thought was coming.
mostly buys this morning and down she goes.
you can read this AIM market like a book.

[peterpowell21] 09/12/2016 11:18

you do normally get a shake before news that you know is coming, comes out.
its normally though with shares that are held by PI's.
with so few pi's here, and the volume always being so low, i was not really expecting one here.

why do you get people selling a few thousand pounds worth just before news.
its not as if they are going to lose that much if it turns out to be bad news?

after about 10 years of investing in AIM nothing surprises me anymore.
when in this day and age you cant get a true fact if a buy is a buy or a sell there is no hope of getting a level playing field. its just something you have to live with if you want to invest in this market.

[peterpowell21] 09/12/2016 08:22

achille

well i was doing dummy sells all day, and at the time of that sell, and i was being offered 5.253p all day.
i could not do a dummy buy as you need the cash in your account to get get a quote.
it may be my broker gives a poorer price.

[achillesheel] 08/12/2016 20:25

Pretty sure was a sell been doing dummy buys all day before and after best i could get was 5.45 up to 300k then 5.55 over.

[peterpowell21] 08/12/2016 16:15

they seem to be dropping the price to get buys.
225,000 at 5.30p was a buy.
so someone must be still selling in the back ground.
expect a drop soon.

[peterpowell21] 08/12/2016 15:40

did anyone notice LGO energy have done a Refinancing the other day.
in fact its not a great deal but the share price still went up 30%.

[peterpowell21] 08/12/2016 15:25

seems funny how we got that RNS on the 29th and they hit the market first thing with a 500,000 sell followed by the 1m at the end of the day.
there is never large volume here, so it seems it may have been done to hold the share price down.why is beyond me. But this is AIM, no rules and give out news when you fancy.

if the company wanted to move the share price up they could.
they could have given how much gold was sold.
Also could give an idea how close they are to full production.
so holding the share price down and holding news back.
they seem not to be in any rush to move this share price up at this time.
maybe they are waiting for a new year.
well i intend on being in here for a few years, so they can take as long as they like, i can wait.

[achillesheel] 08/12/2016 15:10

No insignificant but dropped them below 10% hence the RNS, probably just one of Ruffers clients trimming their portfolio, was hoping it was going to be

"MTL are pleased to announce that the plant is now operating at through capacity, over the past few weeks we have gradually ramped up production. During the month of November we produced and sold $7.5ml of dore and are now operating at optimum levels and achieving throughput of $2.25mill (at present gold prices) per week.

Our creditors are happy with the progress we have achieved over the past few months and the debt rescheduling is now finalised.


Can't be that far off now

[peterpowell21] 08/12/2016 15:06

davegk

well its not many but takes them under the 10% they have to declare at.
just a few more that can be taken by pi's.
can't understand why they are selling even a few at this time.
might have been to pay for the Christmas party.
lol