Metals Exploration Share Discussion Threads

[giantpeach2] 29/12/2016 16:40

There is the reason, 500k share buy.

[peterpowell21] 29/12/2016 14:38

well news is due on the ramp up.
i did not expect it this week.
so into the new year.
i was very surprised we got no reaction to the news that gold sales had started turning the company into a money making company at last,not many of them in AIM.
Even more after the debt Facility Agreement had been rescheduled.
i think we will have to wait for the RNS telling us the amount of gold we are producing daily and what amount has been sold.
i expect the main holders are not happy with the share price and will want to see the news out and get the share price moving north, sooner rather than latter.
They after all have been waiting a long time for this day.

[achillesheel] 29/12/2016 13:51

yep someone buys 800quids worth this morning and we are up 2.56%, wait for the £300 sell and we will be down 5%.

[giantpeach2] 29/12/2016 13:22

we have life!!

[peterpowell21] 22/12/2016 13:34

lord badger

thanks for explaining your comment, i was not sure what you meant on first reading.

achill

yes they seem to be dropping the price on any sell.
the same old AIM market, they want hard facts, the news we have been given has been positive, but without any meat on it up to yet.
the market wants to know how much gold has been sold and what amount is now being produced, don't we all.
but it looks like we will have to wait till the new year for that info.
it looks as if there will be a chance to buy in even lower over the next few weeks.
but then again they could shoot it up.
you just never know whats going to happen on AIM.

[lord badger] 21/12/2016 15:40

Sorry, I should clarify that Q4 2015 comment. Baker Steel sold and Ruffer bought a big chunk of stock but there was a residual amount that Ruffer did not buy (increased the free float) which blew the barn doors off. All at about 3-4p. It was a huge averaging down opportunity.

[achillesheel] 21/12/2016 15:04

Thanks Lord Badger, would make sense on the matching trades, the mm's have been dropping the bid on tiny trades all week.

[peterpowell21] 21/12/2016 13:34

achill

well i did a dummy sell strait after and was offered 4.78p so i would say they were buys.
anyway i had to add more on my IG account just.
i have enough money to sit this out and keep adding if they drop it more.
finances sorted.
plenty of money in the bank.
selling gold,and building up to full production.
whats not to like.
well only the low sp,but that will sort its self out over time.

giantpeach

i meant 140,000 pounds buy.
but my pound sign is not working for some reason.

[lord badger] 21/12/2016 13:20

Achilles, the 2x 1.4m trades could be matching trades i.e. someone shuffling stock around. It's happened a lot in the past, especially in Q4 last year when it blew the barn doors off market size - £30k-£40k bid/ask.

[achillesheel] 21/12/2016 13:01

The two 70K trades 2.8mill shares, no idea if they are buys or sells though, took another 100k at 4.99 though just after

[giantpeach2] 21/12/2016 12:43

you mean 1.4 million buy

[peterpowell21] 21/12/2016 09:51

nice buy of 140k first thing.
funny how us plebs have to pay almost full ask for even small amounts.
yet they pay at the bottom end of the ask price.
seems the mm's want no private buys with the size of the spread.
i expect we will see more of these buys over the next few weeks.

[giantpeach2] 20/12/2016 12:05

Thanks for that Hutch-pod

[hutch_pod] 20/12/2016 11:07

In case you haven't seen this:

h t tp://www.proactiveinvestors.co.uk/columns/sp-angel/26781/today-s-market-view-avocet-mining-bacanora-minerals-ltd-berkeley-energia-ltd-kefi-minerals-plc-metminco-ltd-metals-exploration-plc-26781.html

Conclusion: A long awaited resolution of the Runruno refinancing deal has now been reached with the focus to shift from the Company’s liquidity position to the progress of the BIOX plant ramp up. Earlier the Company announced maiden gold revenues and given all permits now in place to reach full capacity, the management team is working hard to hit budget production levels as early as possible. Assuming a successful ramp up to full 1.75mtpa processing capacity in H1/17 and given the Company’s hedging programme in place for 45koz locked in at $1,287/oz, we estimate the project to cover current debt repayment schedule at $900/oz gold price. We are looking forward to the news on the BIOX ramp up progress.

[peterpowell21] 20/12/2016 08:10

lord badger

another good post,thanks.

i am happy to sit and wait.
as you say its a great price to get in at now.
those that own the 80% of these shares know that it will be the operations news flow that will re-rates the share price The problem when you have mostly PI's invested you do get large volume on any news,which does tend to give you peaks and troughs.
So sit tight and wait for the news flow is the order of the day.
good luck .

[lord badger] 19/12/2016 19:03

Peter, I agree that what is not said can be as important as what IS said. However, I know from my own experience advising clients on the release of news, you are often damned if you do, damned if you don't, plus very often there are a host of complex reasons in the background why what seems like straightforward information cannot be released; the latter of which is the bane of my life. I obviously can't comment on MTL and the reasons why certain seemingly obvious information is not being released, however, all I can say is that from my questions to the board at various AGMs and from the discussions with Ian and Liam at last year's AGM, to which a number of other members of this board were a party, I have experienced the "OK, now I understand" moment on numerous occasions.

Plus, on the up side, the current drop in share price presents an opportunity to buy at the same level as the major shareholders did in the last two rounds of fund raising i.e. their premium has been nearly wiped out. Not only did the major shareholders pitch in at 5p but so did a range of new investors. I can't see any of them doing so if 5p didn't represent good value - OK, before someone points it out, you could say that the original major shareholders had to pitch in because they're in so deep, but that's not true of the new shareholders. Depending on your perspective of course, you could actually say that the "markets" are working in favour of PIs at the moment, at least those who have the funds to average down or take a position.

Personally I view the management as cautious/conservative with regards news flow and have this baked in to my assessment of the business and my investment. Some miners like to splash news around and ride the share price gyrations like a dull rodeo rider, but I'm not a fan of this approach. At the end of the day approx 85% of MTL's shareholders are high net worth individuals and investment vehicles, who get the news they need. That's not to say the management ignore PIs, as our experiences at AGM's attest, but none the less it's a fact of life. Granted it means the free float is small, the market size is tiny and the share price regularly does odd things, but on the plus side, with a small group of major shareholders the business has been able to raise funds quickly and cheaply and the debt level is, by conventional standards, very low.

We're hopefully in the home straight now but it's going to take a little more patience. I'm actually as interested in the next operational update as I am in news of an Environmental/CSR Award, the latter of which is so important on so many levels including the big one: keeping on the right side of the government. Quite aside from keeping on the right side of government, maintaining good environmental/CSR standards is just the right thing to do. Despite what some say, the government needs miners and the taxes they generate; they just want better miners, those who operate to the same standards they would in their home territories. They also have a vested interest in exemplifying good miners and promoting high mining standards, which is a win win for both the government and MTL, if we were to win another award (we have a fair few already). An award some time soon would be great news. No pressure then!

[peterpowell21] 19/12/2016 14:01

lord badger

Good post.
I agree but when info is there and only part is released the market get a chance to push the share price down.
Like the news that first gold sales had been made.
We had been informed in sept they had around $4m awaiting to be sold.
So when they give no amount to the gold sales, the market would look on the negative side of things.Like what are they hiding?, are things not as good as we believe?
Any way they need to state that they now plan to give quarterly updates on production when they are at full production that is.
Looks like no Christmas present coming to us this year.
we will have to just wait for the new year.

[lord badger] 19/12/2016 13:27

As stated at the AGM in June, the company will gear up PR activity once the mine is fully operational and start up issues have been resolved. As the original Share Prophets piece served to prove, attention from the media when you're not ready can be counter productive; creating wild fluctuation in price (up 5p then down 5p), uncertainty and general nervousness, which will spook new investors of any size.

I fully back Ian Holzburger cautions approach to the media and the release of news through this and previous phases. It can be frustrating reading taciturn RNS releases but in an extremely tricky operating environment where you need a permit for anything that moves and the red tape knows virtually no bounds, IMHO caution is the order of the day. Sure the company has to strike a balance between releasing news which is accessible to the media and keeping shareholders up to speed, and yes, the major shareholders will always know more than us because they have been presented with the facts to support a cash call and besides this, main ones have seats on the board and form part of the senior management team.

I don't prescribe to the view that the senior management team are doing any wrong by PIs and breaking any rules, as has been suggested. The news flow has always been to the point and erring on the cautious and I don't see any change. The management have always been very open, at least as open as they are able to be, at the AGMs and this last year went out of their way to engage with PIs - I've never had a 90 minute conversation with the Chairman and Company Secretary at any other company's AGM.

I'm confident we will receive a full operational update at an appropriate stage in the new year. I'm also still confident that it will contain good news around extraction rates, which should have a material impact on the financials.

There will be plenty of interested new PIs following a good operational update and controlled engagement with the media.

[davegk] 19/12/2016 13:17

US six-months LIBOR is around 1.3%, so a loan rate of 6% when we are in production sounds very reasonable to me - not that I have any experience of commercial loan rates. I suppose it is secured on a valuable asset!

[tombarr] 19/12/2016 12:59

(1) Ignore me. Post deleted

[peterpowell21] 19/12/2016 12:42

wiseacre

Where did you get they will be at full production by the end of Q1?
we had been informed full production before year end?

[peterpowell21] 19/12/2016 12:26

well no uplift on share price after rescheduled finance facility rns.
that is the problem when you have no PI's interested.
there is just no volume to push the price up.
well we were told full ramp up before end of year.
well there are only 12 days left of this year.
So if they are on time we do not have long to wait.

just got to hope they give some info in the RNS and not just a, we are now at full production comment.

[wiseacre] 19/12/2016 12:19

Good news but why the heck can't they make their announcements at 7.00 like everyone else. And because of political sensitivities they can't say how they are doing on the ground. Word however is that they will be up to full speed by the end of the first quarter and have made further gold sales. The fact that they have hedged 30% of production at well above the current gold price ($12.90 I believe) is good too. Bearing in mind the $760 all in cost of production this has to be the cheapest quoted gold miner. WE just have to be patient.

[achillesheel] 19/12/2016 12:06

One step forward, now full ramp up RNS, how much gold has been sold RNS and weekly throughput

[giantpeach2] 19/12/2016 12:00

Rescheduled Facility Agreement has been rns now.