Metals Exploration Share Discussion Threads

[peterpowell21] 12/1/2017 15:14

This is one of the down sides of having so many shares in the hands of a few people.
i would think baker steele are not happy selling at this moment.
well it has given people a chance to buy at the same price as the last three placing price of 5p.

With the NED deciding not to buy in at 5p in the last three placings, and is now prepared to pay 5p a few months on,i would think we can safely say we have moved along nicely since those placings.

lets get some news out now. its time to end the new year sale.

[achillesheel] 12/1/2017 14:19

You are correct Lord Badger should see some improvement in share price next week off the back of Mr Ayre's purchase if the volume continues and hopefully as Wiseacre has suggested further developments on the broker front and dare I say it some news and we should be away.

[achillesheel] 12/1/2017 14:14

So by my reckoning we are around 10,158,000 churned mostly buys, should have churned by Monday/Tuesday then if Baker have finished for the time being.

[lord badger] 12/1/2017 14:14

Achilles, I make that 11,150,000 sold by Baker Steele. 5,000,000 to Mr Ayre thus 6,150,000 released. Unless another of the major shareholder comes under pressure to sell, as suggested by Dave, then that's probably it. Agreed, probably a day or so at the current rate of buying.

RNS: hxxps://goo.gl/2wKLxJ (replace xx with tt)

[achillesheel] 12/1/2017 14:05

Sorry to quick 11,150,000 sold

[achillesheel] 12/1/2017 14:04

Baker then 13million take off the 5million for NED leaves 7 should be churned next couple of days, unless they are still selling.

[peterpowell21] 12/1/2017 13:55

davegk

he seems to know his stuff.
the thing is he just invested £250,000 of his own money.
they have not been given as a bonus, not in loo of pay.
or any other method they find to give them self free shares.
that is in my eyes a real sign of confidence.
and i am prepared to back his judgment and invest more here on the back of that.

[peterpowell21] 12/1/2017 13:43

slveen

well as the first dore was just Test Run phase you could be right.
In sept they were holding about US $4 million of physical gold.

At the end of November we were told, "Metals Exploration is pleased to announce that it has successfully achieved its first gold sale, after gold doré produced during commissioning activities was uplifted from its Project site for refining".

at the same time we were told, "Mining and processing operations are ramping up soundly. Each of the individual processes within the plant have been successfully commissioned and are being ramped up progressively to design throughputs".

so since the test run in sept we have not got any idea how much extra gold had been produced.so until we get a RNS we are in the dark.

but i bet its been making a profit for a while now.
Market cap of £100m seems very cheap to me.
good luck with your investments.

[davegk] 12/1/2017 13:27

Some details about Mr. Ayre.

He was appointed a non-executive director on 7/03/14.
Just over 2 years later on 29/03/16 he bought 2,000,000 shares at 4.75p
On 9/01/17 he bought a further 5,000,000 shares at 5p, to give a total holding of 7 million worth £350k.

His CV is posted below, it would seem that he probably knows what he’s doing!

“Jeremy Ayre has more than 25 years' experience in the mining industry. In the mid 1990s he worked at Rio Tinto as a member of its London-based Business Evaluation team, which advised Rio's board on major capital expenditure projects, corporate finance issues and strategy. Then, after working as an investment banker for Paribas for three years in Paris, he co-founded AWR Lloyd in 2000, a specialist corporate finance firm providing advisory services to the energy, mining and metals sectors in the Asia-Pacific region.

Since 2008 he has been working with Baker Steel and Rock Capital to develop and launch a private equity mining fund which led to the listing of Baker Steel Resources Trust (www.bakersteelresourcestrust.com) on the London Stock Exchange in mid-2010. Mr. Ayre founded AWR Lloyd Capital to represent these ventures. He is also a non-executive director of Metals Exploration PLC and Archipelago Resources PLC (which was listed on Aim until December 2013), Baker Steel Capital Managers Ltd (Cayman) and two of its funds. He has a degree in Mining Engineering (UNSW) and an MBA (ENPC, Paris.)”

[achillesheel] 12/1/2017 13:15

Under three weeks worth once the plant is fully ramped up, even now would imagine they already have that in the coffers, no reason to suspect that sales haven't been continuing since November.

[sleveen] 12/1/2017 13:01

$4.2m due to be repaid end of March.

The first dore will have cost more to produce than MTL will receive in revenue.

[blueclyde] 12/1/2017 12:53

Took a position there, looks like a no brainier considering the tiny market cap and low cost of production.Could easily run to 20p if it can sort things out and get going. Reminds me of Medusa it hit a market cap of 2 or 3 Billion if I remember.

[lord badger] 12/1/2017 12:05

If we get a good positive op update we can all start focusing on and fretting about PoG, which from what I'm reading has support around $1,150 and then possibly $1,125, but with consensus being a flat year around $1,160. A favourable theory I read last night is that suggested Fed hikes are beginning to get baked into the price. To be honest, if Trump keeps shooting from the hip the Trump Bump could quite easily turn in to a Trump Dump with Fed hikes getting rolled back. 2017 is certainly going to be interesting and who knows where PoG is going to end up: Brexit's still not out of the starting blocks; Italian banks still looking shaky (as sure as eggs are eggs there will be another Euro banking crisis to follow); French elections coming up; China still pursuing credit-led stimulus; America set to massively raise their credit ceiling; equities looking decidedly toppy; and $12tn of funny money still sloshing around in the system...to name but a few potential issues. I can see a lot of people hedging their bets and keeping their hands on a bit of the yellow shiny stuff.

A sweepstake on PoG by the end of the year anyone?

[lord badger] 12/1/2017 11:22

Dave, I tend too agree - redemptions would seem a likely source of the current extra supply. Mr Ayre is ex Baker Steele so would understand this better than most. Market size is still indicated at 20,000 but automatic trades are going through at around 200,000. Feels like a re-run of Q4 2015 but for different reasons. Frankly, the timing couldn't be better for PIs; a director buy at the same time as plenty of liquidity. Clearly a lot of interest and and we haven't even had an operational update yet. I wonder if we'll see an RNS with a change in someone's holding.

[achillesheel] 11/1/2017 18:02

There's the sell just before the Ned buy popped up then should be another

[davegk] 11/1/2017 17:01

Investec, Ruffer, Baker Steel and Smith & Williamson all run closed-end, mutual gold investment funds. We don’t know if their MTL shares are held in these mutual funds but it seems likely some are.

Gold funds have been suffering from redemptions - “5 days ago - Gold funds saw an eighth consecutive weekly outflow, the longest losing streak in three years”
If you have significant redemptions in a closed-end fund you have to sell shares. I wonder if that explains the apparent stock overhang.

Personally I have sold all three of my gold funds, using some of the proceeds to buy more MTL!

At least the gold price is on the up so far this year.

[peterpowell21] 11/1/2017 16:25

we must be close to a tick up soon
4.888p to sell now.

[peterpowell21] 11/1/2017 15:19

there are 475,514,172 not in the hands of the large holders thats 22.96%
that is still a lot of shares floating around.
and there does not seem to be a great deal of interest from pi's.
its ok having large holders,but you need to keep PI's in the loop.
this has never had large volume days of buying or sells.
even when this went to 10p a few months back the volume was next to nothing.

the PR here is very poor.
In a rns the other week we had,
"Metals Exploration is pleased to announce that it has successfully achieved its first gold sale, after gold doré produced during commissioning activities was uplifted from its Project site for refining. This marks a major milestone in the Project's development".
That was it for a "major milestone in the projects development"

in the same RNS we got this.
Mining and processing operations are ramping up soundly. Each of the individual processes within the plant have been successfully commissioned and are being ramped up progressively to design throughputs.

both of these pieces of news were worthy of a separate RNS.
also worth more than a few lines.
if they cant write up a good RNS, pay someone who can.

[achillesheel] 11/1/2017 14:12

There has to be a seller, there is no way the mm's have been holding almost 10mill in stock, whichever party sold the 5million for the NED buy probably went for 10million (I hope), so we should be close, delayed sell should show up by the end of the week.

[lord badger] 11/1/2017 13:56

If you take the NED buy out, that's 4.7m of which the vast majority is buying. The Share Prophets article came out on the 13th July and the value that week was £3.7m including a fair old amount of selling. Interestingly, and this is looking back at the historical data, there appear to have been some very chunky buys in the days before the article was published. Just saying what the data is showing...

[peterpowell21] 11/1/2017 13:55

lord badger

well i cant see where there can be any overhang.
all shares went to the famous six.
there has been plenty of news that could have pushed the share price up over the last few months. but it seemed they have not been keen to ramp the news. if there was a overhang they have had a few chances to clear at least a few of them.
but someone must be selling some of there 5p placing shares. all buys at 5p and not a tick up.i expect to see a big sell show sooner or latter. why they took the share in the first place if they planned to sell not long after taking them.

in my opinion the company need to release some news to get the share price up and keep the famous six on side.as i have said before,we all like to see blue and not red in our accounts. and the big 4 have been invested in here a long time and will want to see some profit starting to show.They must be well under water with there investments here.

[achillesheel] 11/1/2017 13:36

If you include the ned buy so far up to lunchtime today around 9.7mill

[lord badger] 11/1/2017 13:05

Hol - famous four. Now famous six, with Investec and the newbies, Nutraco Nominees (Bank of New York Mellon). Looks like plenty of PIs following the NED's lead. I don't have the figures to hand, but my gut feel is that a similar volume of buys, to those we've seen over the past few days, following the Share Prophets article drove the price up perhaps 3/4p. There must be a heck of a stock overhang at the moment. But I guess, as I've said before, I'm not sure the major shareholders are unduly worried about short term share price To misquote Mr Spock: the concerns of the few outweigh the desires of the many.

[holism] 11/1/2017 10:43

the last broker failed to get close to the company and knew diddly squat when it mattered.You must remember the fundraisings were not available to investors other than the famous 5 or was it four!! The brokers were hardly relevant. Well at least fundraising should be in the past provided the mine can stay in production and ramp up to 8k or 9K ozs per month by March end.

[wiseacre] 11/1/2017 10:03

Wait and see