Medusa Share Discussion Threads

[roguetreader] 22/1/2016 11:17

Justin
Good post IMO I think your view gives the right balance between the positives and negatives at this time.
RT

[justinjjbuk] 22/1/2016 10:43

Given every one knew that Geoff Davis was an interim CEO, I really don't understand why the succession wasn't organised long before the resignation. AT's announcement also contains two other slightly negative pieces of information. First, the statement that they are still drawing up a short list implies that they don't actually have a short list. I really don't understand what they have been doing to not have even got as far as having a short list. Second, the statement that a review of operations will need to take place before final selection implies we are many, many months away from an announcement of a new CEO. This is doubly annoying because GD also announced a review of operations only back in September 2014, which is not that long ago.

Nonetheless, not all is lost. If we see cash on hand not falling at the Q3 announcement next week and the service shaft getting closer to completion, then the mine is progressively moving on to a much more secure footing. Further, with regard to Rob Gregory walking, when I spoke to him in the bar after the first presentation he attended in London he was very lukewarm about becoming CEO, stressing that he saw himself as very much an operations man and wanted to leave the CEO role to someone else. I seem to remember that another post suggested he may have changed his attitude to the CEO role more recently. However, he may not see the appointment of a new CEO over his head as a reason to walk.

Second, Rob Gregory has done more than anyone to turn this business around and, as Chip's numbers show, everything could come together in FY16/17 to make MML a cash monster. Gregory does have skin in the game in terms of his options. True, they are deeply out of the money at the minute, but MML has the potential to do an SBM in terms of stock price recovery next fiscal year as all Gregory's work comes to fruition. If MML does do a repeat of SBM, Rob Gregory would become a rich man. Walking away now would mean leaving all of that money on the table.

[adyfc] 22/1/2016 10:23

AT is the rock this company needs to get it back on track, just need PHB reinstated and it's all go.

[bluelynx] 22/1/2016 09:45

Steve

I totally agree with your comments, AT is a disgrace, his actions seem to run counter to shareholders interests. In fact it's hard to see how he could have planned to make MML more totally uninvestable. One as to wonder at his motives! If Rob Gregory leaves the company then for the current share holders the future looks bleak.

[stevea171] 22/1/2016 08:33

Seems they have decided one thing in the past 2 months.
Rob Gregory will not take over as the new CEO .... so like speedsgh I would expect RG to be packing his bags on confirmation.

We have here a one man (plus compliant BoD's) company wrecking ball - A. Teo who won't stop until the company is finished.

PS. Meanwhile the share price hits a new low of 34c (17p) as a vote of confidence in their management.

[speedsgh] 22/1/2016 07:23

CEO appointment update -

Wouldn't surprise me if Rob Gregory walks away in view of the shambolic way in which this has been handled. The irony is that it would be far more preferable if it were Andrew Teo making his way towards the horizon!

[eintracht] 22/1/2016 05:30

Some b*llsh*t regarding the appointment of a CEO published on ASX by Andrew Teo. Basically, they've got nowhere with it but are happy with how it is progressing - is how I read it.

[nielsc] 21/1/2016 23:48

Jimbo,

Yes a very good presentation (I also posted a link to it back in post 35505)
Entertaining and very insightful. Liked the Google trends angle. Something to watch out for.

Cheers,
Niels

[jimbo55] 21/1/2016 13:26

I think some of you would appreciate the following, if you haven't already watched this:



A presentation by Grant William's from last year's Mines and Money Conference.

[deka1] 21/1/2016 12:42

They own the world.

[deka1] 21/1/2016 11:43

Interesting thought Steve, also what if the middle east go's for broke, and Iran and Saudi take the gloves off.

[deka1] 21/1/2016 11:39

Cheers guys, I would think that with the correction going on in the Chinese Markets,and the devaluing of the currency , that the Chinese would put some of that money into gold and therefore keep up the demand.

[stevea171] 21/1/2016 11:37

Also, Iran now get their hands on somewhere near $150 billion in previously tied up funds. What will happen to the institutions who will need to credit these funds and forward to Eastern institutions?

Another question, one many have simply laughed off as not doable …what if Iran took a “small” amount, say $10 billion and bought gold with it? What if they had a “crazy” (and angry) man at the helm and decided to take those funds and bid for every gold ounce for sale on the planet? Might this be a financial nuclear bomb …? I am not saying they will do anything other than tend to their own business with these funds, what I AM saying is, we just handed them a very big and very loaded financial gun!

[chipperfrd] 21/1/2016 11:33

In case anyone is assuming that the US will make good the LBMA shortfalls. I would think that is highly unlikely. According to their gold flows (production, imports, exports, consumption) they have been running annual deficits for decades!

[chipperfrd] 21/1/2016 11:26

The biggest weakness would appear to be the lack of available gold in London vaults. I suggest that as the weeks go by there is an increasing probability of a failure to deliver from the LBMA.

But much depends on the level of Chinese domestic demand. If that were to continue at 2015 average level of c. 50t per week then it would seem unlikely that we would reach mid 2016 without someone defaulting.
Chip

[stevea171] 21/1/2016 11:25

Harvey Organ: MASSIVE Backwardation!
Posted on January 20, 2016 by The Doc

Today both the gold comex and the silver comex are in severe stress, with gold in backwardation up to August!

[deka1] 21/1/2016 11:17

Thanks chip, what goldies want to know is how much longer can the scam run,its an unanswerable question I know, but sooner or later things must change ,the scam is public Knowledge , and has been for a good number of years now.
What will it take to force a change? -- a collapse in the dollar, a mega collapse of the stock markets, a world war, WHAT I don't know.

[deka1] 21/1/2016 09:52

Mornin CHIP and cheers for the info.

[chipperfrd] 21/1/2016 09:34

The SGE is setting up it's own price-setting mechanism in April. We will have to see if we then get price differences appearing between the physical SGE market and the paper Futures. If so then one would expect normal Arbitrage trading to occur to equalise the market prices.

I understand that the trade in unrefined dore bars into India from S.America is on the rise because of the import tax advantage over bullion imports. Not sure how significant this is but it would still represent a quantity of gold that is now bi-passing the traditional Western exchanges.

[deka1] 21/1/2016 09:12

Hi Eintracht, imo the pricing mechanism , needs to be moved to the east, take it away from the LBMA and crimex futures, and base it only on Physical supply and demand, a real market, not fraudulent system they are allowed to use now,
as you say as the dollar looses support from the rest of the world this may happen.

[eintracht] 21/1/2016 08:40

How much longer can JP Morgan and Goldman Sachs suppress Gold with their paper trades ? The US dollar must weaken soon with China and Russia both moving away from it. If it soon ceases to be the "World Currency" what then ?

[deka1] 21/1/2016 08:12

Shanghai comp down 3.23%, DOW been following these falls , another triple digit drop on the DOW coming?.
Bit more vol on MML last night, near 900k

[deka1] 20/1/2016 13:56

Yes chip dow futs near 300 off