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 1,548 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
22/9/2017
09:20
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 2.50p and a 12 week average price of 2.25p.
The 1 year high share price is 9.25p 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 83,631 shares. The market capitalisation of Metminco is £3,657,008.60.
14/9/2017
07:27
tomboyb: https://uk.advfn.com/stock-market/london/metminco-MNC/share-news/Metminco-Limited-Approval-for-Underground-Developm/75643715 RNS out approval for underground development - And importantly Miraflores feasibility study out next 2 weeks or before - On track - So news pipeline around the corner -
05/9/2017
13:13
tomboyb: Long awaited Feasibility studies around the corner before month end - Interest back in gold - Share price at all time lows - cash around $6million -
05/9/2017
08:49
tomboyb: Feasibility studies out this month - Cash around the $6mill mark - Share price at all time lows - Redfield have been buying shares as Lanstead Capital LP paid A$0.12 - sp at all time lows -
19/7/2017
10:01
the count of monte_cristo: Although the management have an awful track record, the share price has become extremely cheap now. Must be the cheapest gold stock per ounce in the ground on AIM.
14/6/2017
07:26
jungmana: Interesting development. I agree MNC, is sad to see LC sold but on the plus side the company is valued at cash level today. The huge gold asset is valued at zero .I think 8 to 12p should be a reasonable share price right now.Gla
14/6/2017
05:57
the count of monte_cristo: LC sold, CD Capital have got a bargain. Releases funds to MNC, $5m cash is approximately £3.9m, or almost the entire market cap of the company at the present share price. So we are now valuing the gold assets at almost zero:) Although I am extremely disappointed to see LC released and sold at such a low ball price, this does now release funds and will stop the company diluting us further this year, it also helps the market to value the company because we are now pretty much a pure gold play.
18/2/2017
18:23
jungmana: Sacking the CEO Howe will simply put 100% on the share price imo. To be honest mnc is extremely undervalued today. Look at likes of sula, xtr and many others valued more. Also many miners and explorers have been up 200%+ in last few months but good old mnc is still at the bottom.If i have any spare cash I may buy some again but will have to wait for 2/3 weeks.
31/3/2016
12:03
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
22:28
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
11:50
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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