Metals Exploration Share Discussion Threads

[peterpowell21] 18/1/2017 10:02

i just got a bid of 4.922p for my holdings.
keeps going up.

[peterpowell21] 18/1/2017 09:56

we must be going to see the sell come through soon that is feeding all these buys at 5p.
one mans loss is another mans gain.

[achillesheel] 18/1/2017 09:32

The 5 million was a transfer matched at the same time, the 2.5mill was a buy though.

[laptop15] 18/1/2017 08:50

Bought back in here yesterday! Seems to be getting close to action now. The director buy did it for me, surely they wouldn't buy 5 million unless they were confident :)Good luck all

[jailbird] 18/1/2017 08:36

7.5m total at 5p..!

[peterpowell21] 18/1/2017 07:26

good morning all

i live in spain and thought you might be interested in knowning that it is snowing here. the first time 13 years.
the funny thing is monday it was 18c.
a day in front of the log burner for me.

[peterpowell21] 17/1/2017 17:53

thanks lord badger

i see we have two late trades appear from the 13.
one buy for 2.4m, and one sell for 1.5m
interesting times here.

[lord badger] 17/1/2017 17:11

Peter, the short answer is that there is no value to be assigned to the Moly because we're not extracting it.

The longer answer is, and chip in anyone who remembers this differently, at the point at which the process plant was being designed/costed, the Moly price, which has been rock bottom for some years, did not justify the additional cost of Moly processing and recovery. This decision has I believe proven to be the correct one given the continued low price of Moly. The main use of Moly is in high grade steel manufacturing, and the demand for such has been low, as have prices.

As to what might happen if the global economy suddenly started to motor and steel/Moly prices shot up to an economical level, I don't know.

[peterpowell21] 17/1/2017 16:59

can anyone answer this question?
is the molybdenum a by product of digging for the gold.
And what is the cost for each lb coming out the ground.
thanks in advance if anyone knows

[peterpowell21] 17/1/2017 16:51

i can see only one sale over the last two days,that was for 150,000.
i think we can say someone is still selling in the back ground.
it could be a long wait for them to clear their shares,or they could be clear now?
thats the million dollar question.

[lord badger] 17/1/2017 14:29

Yesterday's volume was the highest bought by PIs for years. I'm not convinced there is an institutional buyer soaking up stock because this would constrain supply and PI buying would advance the share price It's very possible that more stock, in addition to that released by Baker Steele, is being sold by a major holder. Yesterday's volume plus Jeremy Ayre's purchase account for nearly all of the Baker Steele sale announced last week. Another large seller would normally be cause for concern if not for the fact that a Non-Exec Director has just purchased £250k of stock.

There are a couple of interesting things going on. Firstly, the last time Baker Steele sold a huge chunk of stock (2015), the bulk of which was picked up by Ruffer but which left a vast amount in the market, the effective buy side market size opened up massively on automated trading (a crude but none the less interesting metric) to around £30k, however the sell side was highly constrained - a couple of thousand pounds. This time around the effective market size on both the buy and sell are huge - approx £30k. I'm not sure what this indicates though, but it's interesting none the less.

Secondly, there appear to be a large number of PIs buying on no news and no press comment. Perhaps these new holders were attracted by the Share Prophets article last summer and they've been sitting on the side lines timing their buy-in to just prior to the full- production RNS, which is hopefully imminent. There is also the possibility that the NED purchase, which would have been flagged on various web sites, has stoked interest. A question to new members of this board: where or how did to get wind of MTL?

Either way, it could be a perfect storm - current buying soaking up stock overhang and constraining supply prior to a positive RNS bringing in a new wave of PIs to drive the price. If the overhang can be absorbed prior to the RNS, then there could be fireworks. Bear in mind the Share Prophets article, which appeared in a relatively benign period prior to the MGB sign-off of the RSI remedial works, ramp-up of the Biox and first pour of dore, moved the share price 3-4p on perhaps only 25% of the PI volume over the past week.

Lastly, there are a surprising number of pretty large trades going through. They're too small for institutions and do indicate that there are some pretty serious investors climbing on board what is a mining minnow - £13-25k is serious money. Whether this is short term money which will reverse out should the price shoot up 5p after the next RNS - the level achieved post-Share Prophets article last year - is another question entirely. Look out for some wild gyrations down the line. IMHO the really interesting stuff is going to happen a few RNS releases down the line, excluding anything statutory.

[achillesheel] 17/1/2017 14:04

Volume has been around 20million over the past 5 days.


BST share price up 123% since jan 16, maybe should have taken some last year.
From Baker's half year report in August 2016

"The majority of the Company's remaining investments continue to make progress. In particular Metals Exploration Plc commenced the commissioning of its 100,000 ounce per annum Runruno gold project in the Philippines, following the delays to repair damage caused by a super typhoon in October 2015 and it announced the first pour of gold from Runruno in June 2016"

Can't see that they have been selling out in their other p/f holdings anywhere else though, if anything they have been acquiring particularly in Polar Silver/Argentum.


Report if anyone is interested replace xx with tt
hxxp://www.investegate.co.uk/baker-steel-res-tst--bsrt-/rns/half-year-report/201608180825105301H/

[peterpowell21] 17/1/2017 12:55

wiseacre

i agree, its just a matter of sitting tight and waiting.
a great time for anyone to top up at this bargain price.
when news comes this will re rate, that there is no doubt. imo

[wiseacre] 17/1/2017 11:56

The volume has been unusually high over the past ten days. While there has been a major seller (Baker Steel) the stock has easily been absorbed suggesting there could be an institutional buyer soaking up the loose shares. Before making an announcement on production and gold sales the company may, I wonder, want this process to wind up to the benefit of its new institutional shareholder.

[peterpowell21] 17/1/2017 11:34

well looking at the buying again today,i would say this is slowly being noticed by the pi's now. Not massive buying, but if you look back its very high volume than normal,over the last few years.
Is it just pi's getting to hear about it? or is it some people have been given a heads up?
well we could do with more shares in the hands of pi's.
there are way too many in the hands of a few holders.

[jailbird] 17/1/2017 11:31

Yes very true, volume building again

[peterpowell21] 17/1/2017 11:09

jailbird

i agree this project seems to have been on going for many years.
the money spent on getting to where they are to day is a lot more than the market cap.
they say if you have good new it is always released.
they seem to be holding certain news back. is it because they want bakersteels shares sold before hand?

well i see the live bid price is now 4.9p. I think they could put it at 4.95p and nobody would sell.
anyway time will tell.
i have a feeling its going to be worth the wait.
good luck

[jailbird] 17/1/2017 10:51

I know the Co was unfortunate being hit by the Super Typhoon, this had a knock on affect on production of sales. Then the problem with the mill.It is amazing they still managed to raise funds, which is not good as it diluted all shareholders But I think shareholders had no choice since it lose all or support the Co...probably pulling their hair with this investment.Just always feel another delay RNS is due with their history :-)But it may come good in the end... slowly but surely.

[peterpowell21] 17/1/2017 08:45

blueclyde

gold up almost $100 from the low.
News will come sooner than later.
its just a shame bakersteel had to sell at this time.
the next production update should make very interesting reading.

[blueclyde] 17/1/2017 08:19

Spot Gold doing well again today. Over to the company to deliver news that will get the market buying.

[peterpowell21] 17/1/2017 07:58

i love AIM.
You can rely on the fact that you can have buys all day but one sale after hours,
to mark the share price down for the next day.
i know it means nothing, but its just something that makes you think,all is not quite right about the AIM market.

[achillesheel] 16/1/2017 14:07

Sorry Peter meant Baker Steel