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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Uruguay Mineral (SEE LSE:OMI) | UGY | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 33.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 33.00 |
| Top Posts |
|---|
Posted at 11/10/2012 14:23 by bushtuckaman Yasx, you will wait a very long time for an apology regarding my opinion you use of multiple usernames on advfn. It seems I'm not the only one to suggest it either, post 9664 by zangdook on the current OMI bb seems to be of the same opinion, albeit not using the usernames I think you've used previously.In reply to your last post on omi bb 'yasX 11 Oct'12 - 12:47 - 9667 of 9668 ...Your definition of a few years equating to two years is absurd....' yasx, plz show me where I stated my definition of 'a few years' as 2 years? Lets stick to the fact plz. What exactly is your definition of the 'past few years' yazx? 'yasX 11 Oct'12 - 12:47 - 9667 of 9668 As regards the dividend, I am firmly of the opinion you will be proven wrong.....' Proven wrong? I stated in March that the talk over the previous 6 months on the bb calling for a divi was nonsense. A divi wasn't paid last yr and we haven't had one yet this year. so I was RIGHT! It was never on the cards. Going forward from here, when capex drops and cash reserves build is a different story. But at that time a divi was never possible. 'yasX 11 Oct'12 - 12:47 - 9667 of 9668 OMI has over the past few years failed miserably when compared to other producers.' yasx, thats not the case though is it.... look 1yr 2yr 3yr 4yr edit Yasx, for clarity, GDX is an etf which tracks a group of gold mining companies |
Posted at 10/1/2010 21:13 by robson1974 UGY (OMI) is the one because it has had its overhang lifted with end of the FVX arbitrage and over the whole period has not been able to respond to the fact that its profitability has more than doubled (cash costs were $700, and their model was based on an $850 selling price so $150 cash profit/oz going to about $400/oz)KYS is not producing so has to find funding in the most difficult funding environment for years. UGY (OMI) can fund their own development through cashflow. |
Posted at 10/1/2010 20:26 by stevea171 SF. I prefer producers to non-producers, so that rules out KYS. Decent profits should be made in 2010 with a gold price above $1100 by both UGY and VGM as opposed to cash burn by KYS and others that are explorers or at development stage, not yet in production. So there is certainty of cash flow v's delays/problems/cash raising/cash burn of production start up.UGY (OMI) and VGM are both debt free, unhedged and undervalued with production and exploration upside. Imo either UGY or VGM would be a decent investment with the possibility of doubling (or more) based on business development this year without any further increase in the gold price. If gold goes to $1300-1500 or more, the sky's the limit ... If you can't decide suggest you invest in more than one. |
Posted at 10/1/2010 07:31 by rivaldo The T1ps Gold Fund has been buying more UGY per their update published this weekend. Perhaps EK will mention UGY again in his updates.Looking forward to good news flow here now - Thursday's results narrative should be positive given the deal completion. |
Posted at 17/12/2009 15:57 by adam You can buy UGY at equivalent of 21p in Canada by buying FVX (assuming merger goes through). I managed to pick up a few at 17c. (i.e. 0.17 * / 0.456 = 37.2c = 21.5p). I have not sold equivalent UGY as might not go through, though i can't see why not as it is only FVX voting on this. So bar due-diligence issues what can scupper things? I think just weak gold price, lack of buyers and nervousness at the delays have caused this large disparity (50% difference!). 21p would be UGY trading at net working capital (i.e. $21m) |
Posted at 16/11/2009 08:15 by stevea171 As Rivaldo says the T1ps gold fund has been buying UGY. The fund only started up in August so all the UGY holding must have been bought in the past few months. SF t1ps Smaller Companies Gold Fund. Latest update of the Portfolio, as at 13/11 has UGY in the top 10 holdings. Fund size: £3.5 million. Uruguay Minerals: 3.2% Value of UGY holding: £112,300 Top 10 Holdings Stock Name Fund % Golden Prospect Precious Metals 4.24 Norseman Gold 4.02 Metals Exploration 3.69 Kryso Resources 3.68 First Majestic Silver 3.5 Iamgold Corp 3.38 Lihir Gold Ld 3.37 Vatukoula Gold Mines 3.27 Uruguay Mineral Exploration 3.21 Pan African Resources 3.14 |
Posted at 12/11/2009 13:27 by robson1974 UGY 39/41 should translate into UME 67/71 and FVX 30cif UGY gets to 100 as i think a 3m oz resource company should be valued (still only about $25/oz) then FVX would trade at 78c so i make that potential 150% upside on UGY is 212% upside on FVX |
Posted at 11/11/2009 17:46 by adam Thanks. Have OCR'd them below - please check against originals (esp figures) as OCR not infallible...Uruguay Mineral Exploration (UGY LN) CORPORATE SP: 33.75p, Mkt Cap: £16.55m Proposes business combination with Canadian Fortune Valley Resources (FVX.TSVX), 0.457 UGY shares for every FVX Share Designed to gain access to large Pantanillo gold project in Chile, with potential for over 3m ozs Offers the opportunity to leverage the company's current production and cash flow with a large development project, and remove concerns of its future UGY has announced that it has proposed a business combination with Canadian listed Fortune Valley Resources (FVX.TSVX), whereby UGY will offer 0.456 UGY shares for every 1 FVX share. FVX shareholders would hold approximately 25% of the combined entity. The basis of the deal is to secure access to the Pantanillo gold project that FVX has simultaneously announced it has acquired from Kinross Gold. The Pantanillo project sits within the well endowed Maricunga Gold belt of Chile, that contains numerous multimillion oz gold projects operated by major companies and it is indicated that Pantanillo potentially contains between 2-3moz of gold. The Pantanillo project was previously explored by Anglo Gold and Kinross, but on the basis of internal studies was not considered of sufficient size potential to meet the requirements of those very large companies. Both of these companies, because of their size, use their own internal assessment criteria rather than being compelled to carry out assessment to 43- 101 or JORC standard. Therefore while the Pantanillo project is not yet NI43-101 compliant, we would expect it to be very close to compliant, and be able to be brought up to standard quickly. UGY has suffered of late by virtue of being perceived as a gold miner in decline - reducing production, increasing costs, and limited resources - as its main project in Uruguay was coming to an end and exploration in the region had not been able to bring new resources into the company. We would therefore see this transaction as potentially company changing. The resource potential is large, and peer comparison from other mines in the area would suggest the ability to be within the median part of cost curve, thus offering the potential to lift UME back over the +100,000oz pa level in the medium term. The transaction would seem well structured in that there is little cash outlay, and the near term assessment requirements are within the company's current cash resources. The requirement for additional equity has been raised to take the project forward into construction, but we would not expect this to be required until later in 2010. The transaction is subject to various approvals, but the agreement of both boards and the provision by UGY of a convertible facility to assist FVX to complete its transaction would seem to suggest the deal has a high chance of proceeding. While the technical details of the project remain to be revealed, we see this as a positive move. Gold resources are not cheap to come by in this market, but the company would seem to have potentially increased its resource base by 10x in one transaction with little near term risk. The transition to being a debt-free, unhedged producer with a large project on the drawing board, could see the company rerated. Uruguay Mineral Exploration (UGY LN) CORPORATE TP: SP:39p, Mkt Cap: £19m Quarterly results, Q1 2010. Shows a loss, but this is largely due to stripping costs that were budgeted for 01 that have now been completed; costs should decrease from now. Forecast production for 2010 is 60,000oz, with the company aiming at an average cost of c$7301oz. New drill results from Arenal Deeps are thicker and higher grade than the previous resource estimate, giving comfort that the recalculation of the resource The company's Q1 2010 financial report to end August 2009, shows 13,173oz produced at a cash cost of $880 per oz. With an average price of only $912/oz, during this period, the result is clearly cash negative. However, the company has stated that this result is largely a result of increased stripping that was required and budgeted during the quarter, to enable mining operations to access higher grade ore for the remainder of the year. This is standard procedure, and one of the problems with quarterly reporting for small mining operations. The company has provided guidance that it remains on track for annualised production of 60,000oz at a cash cost of c$730/oz. In addition, UGY has released new drill results from Arenal deeps, showing higher grades and thicker intersections that had been previously used in the resource calculation in April 2009. Drilling will continue until Jan 2010, with a target to produce a new resource figure by June 2010- we would expect a substantial increase in ozs and decrease in costs. The operations in Uruguay are clearly high cost with a limited remaining life. These quarterly results are somewhat skewed by the timing of capex and waste removal costs over the course of the year that can make a negative impact on quarterly numbers. but we remain confident that the operation remains on track to produce its budgeted numbers, which when coupled with recent cost saving measures, should see the company generate a healthy cash flow going forward. In the longer term however, the company has taken steps to establish via acquisition, a larger resource base that could underpin its growth in future. We would perhaps expect some price weakness on these results; however, we would view the company as a leveraged gold play, fully exposed to the higher gold price with expansion options, and so a cheap entry to large ozs. |
Posted at 12/10/2009 11:08 by themoneymonster2 My Calculations on UGY:Issued share capital after acquisition would be approx 65 million shares. US$8 million in cash, no debt and no hedging. 2.18 - 2.95 million ounces of gold with new acquisition. Production target for next 4-5 years, 60,000 ounces per annum. Assume $1000 gold and $700 cost per ounce. $300 profit per ounce. $300 x 60,000 = $18 million = £11.25 million (at 1.6 $ - £). On a p/e of 5 = £11.,250,000 x 5 = £56,250,000 divided by 65 million shares = 86.5pps. On a p/e of 10 = £11,250,000 x 10 = £112,500,000 divided by 65 million shares = 173pps. For the approx 2 million ounces of gold acquired I would put a conservative price on them equivelent to what UGY paid for them so approx £5 million divided by 65 million shares = 7.6pps. For the cash stated above that equates to approx £5 million today so divided by 65 million shares, that is another 7.6pps. So on a p/e of 5 plus cash, plus asset of 2 million ounces of gold approx = 101.7pps. So on a p/e of 10 plus cash, plus asset of 2 million ounces of gold approx = 188.2pps Gold is already above $1000 and set to continue rising. A rise to $1300 would mean a 100% rise in profits, ie: an extra $300 per ounce. Costs at Arenal Deeps could also come down so the $700 could come down to something like $550 per ounce, even more profit. A p/e of 5 or even 10 in a gold stock when gold starts rallying more will seem really cheap also so a p/e of 15-20 would not be out of the question, ie: a share price of 275.2p - 361.2p. That is still assuming costs per ounce of $700 and gold at $1000. This is a bargain and a great play on rising gold. The upside potential from 40p is enourmous. |
Posted at 18/9/2009 12:40 by dangersimpson2 In addition, and in keeping with its stated strategy, UME continues to investigate opportunities to acquire gold development assets in Latin America and is in early stage discussions with a number of parties.So looks like UGY is cash flow positive and keen to use their surplus to increase their footprint in South America. This makes sense since they really need some scale to ensure their listing & overhead costs don't wipe out all the profits. However they don't have massive amount of surplus cash when you consider their need to develop the underground mining at Arenal. So they need to find companies which are relatively small (to be affordable) very cheap on an asset basis (to give UGY the upside) yet cash strapped (so they are willing to do a deal.) With these criteria the company that comes to my mind is Serabi (AIM:SRB): - Gold miner in Brazil, proven gold area (South American but with London Management & listing = similar corporate culture.) - Fully operation plant (reduces execution risk.) - Cash flow neutral from current surface oxide mining (= not a burden in current operational mode.) - Large underground resources need but cash spent on mine development to restart large scale operations (need UGY's cash, large upside) - Very cheap (£2m market cap, within UGY's budget.) - Serabi have good knowledge & experience of underground mine planning and operation which UGY will need when the look to develop Arenal Deep in the next few years. So what might a deal look like? UGY could take an equity stake in SRB in return for funding the underground mine development. Alternately, a straight takeover would provide the maximum upside. I reckon most SRB holders would take 5-7p share, say 50% cash, 50% UGY paper (which is now starting its rise towards a reasonable valuation compared to the last few months!), costing just a few £m in cash to pick up the whole operation. When you strip out the listing & admin costs Serabi starts to look profitable from just current production, UGY can fund the underground mine development in Brazil from their combined cashflow, then use the experienced team of Serabi to develop Arenal Deep and we're on our way to 150-200koz production! Well that's my conspiracy theory anyway, what targets do others think could be on UGY's radar? |
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