Share Name Share Symbol Market Type Share ISIN Share Description
Metminco LSE:MNC London Ordinary Share AU000000MNC7 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.875p 2.75p 3.00p 2.875p 2.875p 2.875p 96,000 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -100.5 -137.2 - 3.66

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DateSubject
19/11/2017
08:20
Metminco Daily Update: Metminco is listed in the Mining sector of the London Stock Exchange with ticker MNC. The last closing price for Metminco was 2.88p.
Metminco has a 4 week average price of 2.75p and a 12 week average price of 2.50p.
The 1 year high share price is 8.25p while the 1 year low share price is currently 2.25p.
There are currently 127,200,299 shares in issue and the average daily traded volume is 200,821 shares. The market capitalisation of Metminco is £3,657,008.60.
20/10/2017
11:42
christy41: Well as a long time(long suffering) shareholder I won't mind the dilution as long as it pushes us further along the development curve. Bones, you're probably correct with regard to share price action.I expect some looking to invest will probably stay on the sidelines until financing resolved.MNC certainly haven't been shouting from the roof tops since the FS came out and are probably more concerned with getting funding resolved and environmental permitting. An interview that some may find interesting,about 8 mins in-construction decision to first gold pour.https://youtu.be/YbRNUsZm_ns Also worth noting that most analysts think that once gold takes out $1400.00 we enter a new bull market for commodities.(precious metals)
20/10/2017
09:26
tomboyb: The count - The share price has consolidated nicely - Those shareholders wishing to sell have predominantly sold out imo - News next week should help the share price -
19/10/2017
06:14
barneygumble27: Thanks tcomc for sharing that sounds promising after a disappointing day yesterday after the great fs news and the share price drops.
17/10/2017
09:29
deadcert: tomboyd Coincidently, Kefi and MNC are virtually the same share price at the moment it will be interesting to see where they are in say two years.
16/10/2017
05:56
bones: They released a reply to ASX asking if they knew of any reason for recent share price moves with the usual response but did mention the FS is due for publication (no date given)
05/10/2017
06:34
chesycustard: Really expected to on the road to share price recovery by this stage of the week. Anything more count? All Gordon did was wait till the small holing RNS came out before coming back to me and sent me that!They must have a hold up.
04/10/2017
03:30
the count of monte_cristo: My personal opinion, is that once we get the FS and then the EIA MNC will be in play, by which time I would speculate the share price will be significantly above the current share price. Let's be reasonable here and compare MNC to other companies who have an FS and EIA and a cap of in excess of 15m to 20m GBP (12-16p) should not be unreasonable! Look at what RedEagle did with developing their mine as well as the interesting acquisition of CB Gold, which Batero were also interested in acquiring. hTTp://redeaglemining.com/news/details/index.php?&content_id=65 hTTp://redeaglemining.com/news/details/index.php?&content_id=58
31/3/2016
11:03
vmax lse: COMPANIES Metminco*† ASX:MNC | A¢0.55 | US$11.6m | Speculative Buy Completion of A$1m Capital Raising Metminco has announced the completion of a placing of 250m shares at A¢0.4/share by share price Angel and RFC Ambrian to raise a total of A$1.0m. Trading of 210m shares is expected to commence on the ASX/AIM on 5 April, with the balance of 40m shares expected to begin trading on 8 April. The company has stated that use of proceeds, following the completion of the Quinchia Gold Portfolio acquisition (on target for end-May 2016), will be towards: the completion of a feasibility study for the flagship Miraflores Project; plant infrastructure; and working capital. For further details please see Metminco – Agreement to Acquire the Quinchia Gold Portfolio, 7 March 2016. Binding Heads of Agreement with RMB to acquire 100% of the Quinchia Gold Portfolio — The portfolio comprises 15 mining concessions in Colombia, with a 2.8Moz resource at 0.65 g/t (at a 0.27 g/t cut-off) across the near-feasibility stage Miraflores Project and the Dosquebradas deposit. An initial equity consideration of 50m MNC ordinary shares has been paid by Metminco to RMB. Meanwhile, the cash consideration payable to RMB within one year of signing totals just an estimated A$0.5m, with a further two payments of A$1m due in May 2017 and 2018, minimising up-front capital commitments. The total pre-production cash consideration sums to A$7.5m due over a maximum of four years, with a final A$7m NSR-based payment contingent on the project being brought to production and achieving positive cashflow. Near-term development potential at Miraflores — Prior owner Seafield had reached near-completion stage on a feasibility study on the project, with the latest Technical Report numbers outlining a 42,000oz pa 12-year LoM operation with already attractive AISC of US$682/oz, capital intensity of US$164/oz, and post-tax NPV8 of US$47m at a US$1,200/oz gold price. The company sees scope for NPV optimisation due to the recent reductions in mining and capital costs seen across the industry, combined with a planned boost to production to increase the IRR. A work programme will be undertaken over the coming months to incorporate these planned savings and their impact on feasibility study parameters, with the finalised study currently anticipated by 1Q17. Prospective large-scale exploration target at Tesorito — Despite the early-stage nature of the Tesorito target, 800m to the SE of Miraflores, the company sees it as the highest-priority exploration play within the Quinchia Portfolio. Of the three holes drilled so far, all have encountered consistent mineralisation and alteration, with the highlight being TS-DH-02’s intercept of 384m at 1.0 g/t Au starting from surface. The company believes Tesorito has the potential to represent a substantial gold-copper porphyry system, typical of the host structural trend (the Mid-Cauca porphyry belt), which already houses giant deposits such as AngloGold’s 33Moz La Colosa and Gran Colombia’s 14.5Moz Marmato. Post-acquisition outlook — Given that the company remains in negotiations to secure a strategic partner to alleviate the capex commitment to reach the PFS and DFS stages at the large-scale Los Calatos Project (estimated at US$15m and US$25m respectively), and the access rights dispute at Mollacas remaining ongoing, we believe the Quinchia Gold Portfolio represents a near-term fundable development opportunity in the current improving gold price environment. Following the closing of the transaction, we anticipate two streams of near-term newsflow from Quinchia, involving feasibility study re-optimisation work at Miraflores running parallel with exploration results from Tesorito. Both of these have the potential to act as catalysts for MNC share price appreciation.
24/10/2015
21:28
jungmana: this is from last year. shows how the bottom has fallen off MNC share price due to commodities down turn over last 2 years. www.proactiveinvestors.co.uk/companies/news/69570/metminco-valuation-put-into-perspective-by-first-quantum-copper-deal-69570.html Metminco valuation put into perspective by First Quantum copper deal By Ian Lyall June 18 2014, 12:19pm There are signs of life in the copper mining industry that may have knock-on ramifications for South America-focused Metminco (LON:MNC, ASX:MNC), according to broker Canaccord. In a note issued Wednesday its analysts assessed the benchmark set by First Quantum Minerals’ (LON:FQM) US$433mln acquisition of Lumina Copper. Lumina owns the Taca Taca Project in Argentina, which is similar in geology and grade to Metminco’s Los Calaotos deposit in Peru - though former is more than twice the size of the latter. More interesting are the deal metrics and specifically the 2.1 cents a pound per ounce paid by FQM for Taca Taca. On this basis, Metminco is worth 7p a share, according to Canaccord. The stock is currently changing hands for 1.16p. “Importantly, the First Quantum transaction shows that larger copper producers are willing to pick up assets despite the broader macro uncertainty that is pervading the equity market,” said analyst Peter Mallin-Jones. “This suggests that finding a partner for the Los Calatos project is by no means impossible, and we take this transaction positively.” with the dilution over the last year. the 7p value is about 5p equivalent today.
04/6/2014
10:50
dyardley: From LSE reply from Steve Tainton answering questions sent by Mav2.... Don't think that link is going to work, I may have to copy and paste later on. It came from Steve Tainton, says MNC are vastly undervalued. Rest of his email said - With the reduction in staff to conserve costs, there have been number of changes in the Company, one of which is that I am no longer directly involved with Investor Relations – albeit I assist on an ad hoc basis. Having reviewed your various questions (as opposed to statements reflecting your views of the Company), I have attempted to address such based on what is available in the public domain. a) Performance of Metminco Share price One needs to look at Metminco's share price in the context of the general market. Resource stocks are under pressure, particularly in the small to mid-cap space. This tends to be more accentuated in those instances where companies do not have access to a cash flow from an existing mining operation, and who potentially have large capital requirements to develop a project. I have included a graph that shows the relative performance of the MNC share price over a 12-month period by comparison RXM (requires funding of US$850 million to develop their Hillside Project [Cu]), HGO (copper producer) and the S&P/ASX Small Resources Index) for your reference. As you will see, the S&P/ASX Small Resources Index has decreased by 8.6% over the period. b) Why invest in Metminco? This of course is entirely dependent on the shareholder and his/her appetite for risk. Metminco has two major assets in the form of the Los Calatos copper-molybdenum project (Peru) and the Mollacas copper leach project (Chile), where the former project has been advanced to a Pre-Feasibility Stage, and the latter project to a Feasibility Stage. Los Calatos has a potential Life of Mine of 34 years producing some 98kt of copper in concentrate per annum, whereas Mollacas is much smaller with a Life of Mine of some 7 years producing up to 8kt of cathode copper per annum. Both projects have the potential to produce copper at competitive C1 Cash Operating Costs. However, whilst production at Mollacas could commence production in late 2016/early 2017, production from Los Calatos is only expected post-2020. Capital to develop Los Calatos in particular is an issue, and it is for this reason that we have endeavoured to identify a strategic/funding partner for the development of the project using the services of a well-known banking institution. I have attached a recent Research Note by Patersons for your reference, which values Metminco at between A$0.071 and A$0.11 per share, considerably more than its current share price. c) Why is it taking so long to identify a Strategic Partner for Los Calatos? The Company has actively been trying to identify a partner for the development of Los Calatos for weThe Company has actively been trying to identify a partner for the development of Los Calatos for well over 12-months now. Ideally, we would have liked to initiate the process after having completed a Pre-Feasibility Study, but the market moved against us, necessitating that we initiate the process earlier. In August 2013, the Company released the results of an optimised mining study completed by RPM, which is currently the reference base for the project. The low share price, and hence low market capitalisation, has not assisted Metminco in its discussions with potential partners – as the general tendency in the market has been to value a company's assets based on market capitalisation as opposed to the NAV (hence undervaluing the company's assets). I can confirm that until such time as a sensible deal can be concluded, the Company will not transact on Los Calatos. d) Cash burn rate and cash reserves In relation to cash burn, the Board is actively evaluating a number of strategies and will continue to adapt its forward plans to meet changing circumstances to ensure Metminco is able to function and grow. For this reason, the Company will continue to retain the services of a skilled, core, staff compliment. e) Merge, Takeovers and Sale of Assets These represent alternatives that are under consideration, and will be driven by what ultimately realises best shareholder value.
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