Medusa Share Discussion Threads

[allyp] 27/1/2017 16:19

Chip,
I also value your comments, please don't leave us! Remember the filter option - I've used it for a couple on this thread.


There's a couple of excellent interviews on RealvisionTV about gold recently, don't know if anyone else is a subscriber. Bill Fleckenstein on short selling and gold - he says the only thing harder than running a short portfolio is running a gold portfolio. Psychology and sentiment is a massive hurdle for something as volatile as gold. The other one was Egon von Greyerz, it was like Gold for newbies, going through all the reasons for owning gold and not particularly fanatical, just calm reasoning.

[chipperfrd] 27/1/2017 12:49

Thank you Niels, the feeling is mutual. We have been swapping posts for many a year.

I have to admit to being less and less inclined to post comments on individual shares these days - other than trying to respond to specific queries if they arise on the comparison thread.

For the last quarter of 2016 I mainly focused on PM market pricing - but I don't get the impression that people are much interested in hearing the same old moaning about 'paper gold/silver' pricing, et al, when there is nothing any of us can do about it. So trying to do COMEX updates, etc, does just feel like a waste of time on these boards.

I guess I am just getting older and lacking the energy and enthusiasm to keep at it and increasingly prefer to keep my opinions and assessments to myself - perhaps hoping for a quieter life!

I did find the VC1 value assessment method interesting before Xmas and intend to try and do more work on stock filtering and sorting by varied metric combinations. So I may well spend a lot more of my time in those areas and trying to build alternative portfolios.

All the best
Chip

[stevea171] 27/1/2017 12:15

Niels.
>>>> "I think most on here have got it wrong with MML."

This is a dog of a share that has not got 1 thing right in the past 5 or 6 years and the share price at 40-41p is still going down whilst most others go up reflecting that failure. It is down 95% from its high in 2011 and has slaughtered all holders during this period. If most on here have got it wrong then what about all the rest of the shareholders that make up the market?
Everyone is wrong except you and Chipperfrd?

>>>> "I was a little surprised to see a post attacking you in such a way."

The attack was justified because Chipperfrd supports the incompetent management of this company that has been responsible for this woeful catalogue of failure.

The shame really is that so many on here have lost massively and any/all posts by Chipperfrd during this period completely ignore the reality of the company's lies and failure to meet any forecasts for almost the entirety of this past 6 years including the latest report that came out earlier this month. Have you even read it?

The success of the company to 2011 has gone and has been replaced by 6 years of catastrophic failure cheered on and supported by you and Chipperfrd.
How out of touch can you get?

[galeforce1] 27/1/2017 12:13

All posters here seem to be very gloomy about MML's prospects.

I don't know much about the company, but I see that Ruffer Asset Management quite recently took their holding in MML up to nearly 10%. For me that would normally be quite a bullish signal.

Ruffer Asset Management is a successful company, and they have a reputation for being very cautious. So it's interesting that that they are buying MML. Presumably Ruffer see reasons for optimism that posters here don't see!

What could be Ruffer's logic? Are production costs likely to fall then this new access shaft is built?

[hectorp] 26/1/2017 18:32

God to see old timers still here, I have been away for a long time now, when the UK listing was removed. Tempus fugit all right.
Good luck to old Medusa, though from what I have been reading here , it seems not what it once was. Remembering 16-20p days. Did I sell at well over the ten bags - no, I expected gold to revive sooner than it has done, and waited too long.
H

[deka1] 24/1/2017 20:49

Good luck old pal

[atlantic57] 24/1/2017 17:46

Hi dek I am well I hope you are to.
We are of course all lot older now so certainly for me the risk reward profile
Is much different from 10 years ago.....

[deka1] 24/1/2017 17:25

Hope your well atlantic, I would like to add, all Aussie miners should be looked at through an electron microscope before investing a penny,just my opinion mind.

[deka1] 24/1/2017 16:28

MML got the planning of the mine extension/ new shafts and all that goes with it Badly wrong,thats bad management ,nothing to do with anyone posting on this board,
if they had met the targets they set for themselves 5/6 years ago the price of the stock would not be where it is,it is those people who failed the holders,no one else.
A co publishes its intentions and costs and that's all we have to work on.
How it pans out is dependant on them alone.
IMVHO

[stevea171] 24/1/2017 11:01

>>> "Atlantic is right bears should be allowed to post.It helps keep a balanced view- Elban/ Augustgloop wasn't liked on here but the man was right. Just like he was right at vgm. His views and arga who had negative views have been kicked off for various reasons I can't remember.."

I am not being harsh. I am speaking the truth that many on here don't want to hear who live in delusion spun by false narrative of positive posts on the company only, even when it has become clear it is a dog.

Chipperfrd promotes this false narrative here by unjustifiably attacking me (and others) for posting the truth of the complete failure of this company to abide by any reasonable standards of reporting on business plans, adhearing to them and warning (as required by the ASX) at the time of failure. So in other words he promotes a BB that lies by default to all holders and readers and encourages unwary investors to invest based on his controlled narrative.

Medusa's management have a long history of lies and complete lack of ethics. When we invest in a company we should be looking at not just financials but quality of management which Chipperfrd heavily censors for his own personal benefit as a trader not as a holder like many who read this board.

As they say: "Buyers beware" of everything that is written here.

[rrr] 24/1/2017 10:06

I too think the criticism of Chip was unjustified. He is the most generous and well informed of posters. I believe he posts as he sees it, others must make their own judgements.
rrr

[ilostthelot] 24/1/2017 09:18

Thanks Deka I probably will be. Medusa could well be a stonking buy just at a time where I have sold.

They're on the cusp of finally getting the mine debottlenecked 😊 which could well allow 140 000 per year and costs all in under $900. Thats serious money right there.

I'd maybe risk more money and buy more if I had it. I just think that BLK is the better investment and safer.

Include the drilling budget which is significantly higher. If that yields results then the multiple will be higher at a time where they are getting there act together.

The good thing for many on the sidelines is the market will be waiting for the evidence of that to come to fruition. Imo.

Regards Chip . Clearly the man works hard and for free on these boards. Stevea is being harsh. I for one appreciate his input greatly. We've all seen similar sentiment wrote several times across these boards.
On this occasion we shareholders have been mislead by poor management and I have lost thousands of pounds because of there lies or there overly optimistic productuon targets.

Atlantic is right bears should be allowed to post.It helps keep a balanced view- Elban/ Augustgloop wasn't liked on here but the man was right. Just like he was right at vgm. His views and arga who had negative views have been kicked off for various reasons I can't remember..

[atlantic57] 24/1/2017 08:01

Medusa has underperformed for many years and consistently failed to meet production targets.When certain posters expressed this view they were ridiculed.
You need honest discussion on a bb to make it constructive.

Chip has spent many hours researching companies and sharing his labours with us free of charge.Every investor must do their own research and then invest.

We don't share profits or losses with other posters.

[deka1] 23/1/2017 21:23

Best of luck Andy,may see you back in sometime .

[ilostthelot] 23/1/2017 21:07

Thanks Stevea.
Yes I really like BLK there large resource will earn them a big multiple going forward - eventually.
I see them as a A$1 billion company. Considering they're not long in production they're doing very well. Long may it continue. All the best

[roguetreader] 23/1/2017 20:52

ILTL / Steve
Re BLK agree with your comments, I've been on board for a few months in a small way and doubled up last week. Hoping for good things from them in 2017.

Steve, disagree with your comments re Chip. We all make our own decisions re investing here or anywhere else. I'm sure he can speak for himself but the fact he has a very much glass half full view and has successfully traded invested here shouldn't in my view be held against him.

[stevea171] 23/1/2017 18:36

iltl. Well done and good luck with Blackham Resources (BLK). I sold my UK MML last year but had a large position in Auz which I hung onto as I had no other good options until Jason came along a few weeks ago with Blackham. It is a stonking company and everything that MML is not. Up 12.2% yesterday and could easily double from here short term after yesterday's report and be a multi multi bagger thereafter. So I'm rid of one of the worst managed companies I've ever had the misfortune to come across.

Thanks a bunch to Chipperfrd for promoting this company all these years, long after it was apparent to me and probably most here it was a complete dog. Narry a single sentence of censure of this company to this day from him despite the reams any unbiassed observer would have written ..... Too late I realised he was trading this like some others, so had no large losses like the majority here and was interested in one thing and one thing only. His own profits!!

[ilostthelot] 23/1/2017 12:58

Wish I'd followed the chart. It broke support at 60c.. that was the time to sell. Lesson learned.

[ilostthelot] 23/1/2017 12:55

I sold and invested in BLK listed on asx instead . Reason being they look like a better investment and I don't have enough money to be in both.
I'll contiune to watch & perhaps buy back in when they show the market the money. As in the first quarter after the lift shaft is complete. Where the AISC is under $1000 and they are producing over 30,000 per Q. I'll prob have to pay closer to A$1 by then- so be it.
Good luck in the mean time hopefully it recovers well from here for all shareholders.

[arja] 17/1/2017 22:08

augustloop - thanks and that is some erosion of capital ! Gold price picking up lately too and not helping MML due to such bad management . NCM looking good though

[stevea171] 17/1/2017 09:28

Proactive as well appear to be party to more insider information than this company will release to shareholders in the usual way via RNS's. Shareholders count for naught in their book it would seem ....

Medusa Mining (ASX:MML) A$0.46, Mkt Cap A$94.5m – Medusa mine development

Medusa Mining upgraded guidance for 2016 gold production last week reducing expected gold production to to 85,000-95,000oz from 105,000-115,000oz

Unit costs naturally rise as production falls with the AISC rising to $1,200 -1,350/oz from $1,00-1,100/oz.

The September quarter results were as expected but December suffered from a slow recovery in ore grades.

This combined with higher mine-shaft maintenance lowering ore tonnages served to reduce the ore and grade available to the mill.

The team at the CoO mine are mid way through their capital program which involves higher level of maintenance to ensure the mine can meet its capacity targets.

Underground development continues apace maintaining a rate of 4,500m per quarter for new development.

Maintenance to the L8 shaft will continue into the March quarter slowing up hoisting capacity

The final electronic components for the E15 shaft arrived two months late due to shipping issues as the Hanjin shipping company went bust. Medusa’s freight managers managed divert the container of components through air freighting the kit into the Philippines.

Medusa’s recently updated new ore resources and reserve statement shows 2.77mt of ore grading 10.8 g/t for 0.96moz of contained gold vs 3.5mt grading 10.2 g/t gold (1.15m oz) at June 2015. The good bit is the grade of the resource is rising while more drilling will need to be done to expand the resource again. Approximately 57% of the gold ounces in the resource are classified as “indicatedR21; with the balance “inferred̶1; see our last comment for further explanation.

Conclusion: We estimate that Medusa are running around one quarter behind as a result of the shaft maintenance and the delay to the electronic components with the capital programme now due to complete in September. The cash balance is likely to fall below the A$19.6m seen at end September.

www.proactiveinvestors.co.uk/columns/sp-angel/26887/today-s-market-view-finnaust-mining-kibo-mining-plc-medusa-mining-limited-orosur-mining-inc-tethyan-resources-european-metals-holdings-limited