Medusa Share Discussion Threads

[tightfist] 04/4/2018 19:16

Hi deka.

We have both noted the summary statement by BT.

There is lots of positive spirit in the statement - factually I hope that they are going to extend the Resources volume (drilling, modelling) down at least two levels by the end of 2018 and be able to extend the resources further. There will soon be a point beyond which large-scale drilling is a "Fools Errand", (especially now that it is expensed rather than capitalised?).

Cheers, tightfist

[deka1] 04/4/2018 07:31

this statement is most encouraging imo.

replenishment of the ounces mined at Co-O.
2
In Co-O’s 10 years of production history, the original pre-production reserves have been replaced four-fold, showing the robustness of this deposit. Currently Medusa has a better understanding of the Co-O ore body, a higher level of confidence in the resources and reserves and the deposit remains open to the east and down plunge on the main structures.

[tightfist] 03/4/2018 15:05

Hi Chip,Eintracht,

Thanks for flagging today’s Resources Update. I have taken a look through the document (alongside the last update on 07.08.17) and it strikes one that the total Reserves continue it’s 6 year trend of Reserve depletion (figure 1), although the rate of attrition is slowing down. This coupled with only 8 months drilling bodes better for the future, as does the TSF#1 opportunity?

The other thing that is notable is the Resource volume has not been expanded (figure 3) but maybe I am short of understanding the 3rd dimension of the other veins? They seem to have significant drilling success below L10 but hardly taken it into the Model (yet)?

Anyway I am not going to argue with the BT’s statement “Currently Medusa has a better understanding of the Co-O ore body, a higher level of confidence in the resources and the reserves and the deposit remains open to the east and down-dip on the main structure”. I was looking for more, but as-ever one has to be patient with MML!

All comments/interpretation welcome. Cheers, tightfist

[eintracht] 03/4/2018 08:49

Resource update statement released on the ASX after closing today.

[atlantic57] 21/3/2018 21:38

Today's minutes suggest to me that the fed are already backtracking on the original interest rate policy for this year. This suggests to me the the fed will have to resort to qe again when the next recession hits.

It is a very complicated world out there. My memory may be playing tricks on me but I recall 2003 to 2008 a fairly steady consistent move up in the gold price.In 2008 after the financial panic subsided gold again climbed consistent higher through to 2011.
Many of us had great runs with Mml and cey.

Today is difficult to call

[chipperfrd] 21/3/2018 13:54

Atlantic,

Yes, it has certainly gone on for an interminable time!

Ever since the start of QE3 (Sep 2012) the PM prices have 'logically gone the wrong way' and particularly in April 2013 when they took a massive hit. However, they have struggled upwards since Dec 2015 (which in retrospect looks like the bottom of the pull-back) and gold in particular has kept above US$1,300/oz for a decent period now.

We will have to see what the next few months have to offer. I am certainly interested to see if the Chinese Yuan/Oil contracts do actually have an impact on the gold price.

For the miners, US$1,300/oz should be sufficient for decent earnings - not so currently for silver though! That really does need a big increase in price to make mining the stuff a profitable business.

All the best
Chip

[atlantic57] 21/3/2018 13:35

Chip the article is a good read!
However I think the fed will back down the moment the bond market impacts equities.
Logically the 10 year bond yield should rise to 3%.I assume the crisis will come when inflationary pressures need higher rates and the fed are boxed in and can't raise interest rates.

Perhaps this will be when gold has its day.I have been expecting this crunch to happen for some years,however to date the central bankers have managed to prevent this crisis unfolding.

[chipperfrd] 21/3/2018 12:12

Worth a read!

[atlantic57] 15/3/2018 11:06

Yes I appreciate the gold price is manipulated.However I have been following
Various gold Bulls for 10 years.
Jim Sinclair, Larry Edelson to name a couple.

For me personally a rising gold price feels increasingly like a mirage.
So many predictions that x price will be achieved in y months.
To date it has not happened.

[chapv] 15/3/2018 10:22

It will b3e interesting to see if crypto currencies are manipulated like the gold price!

[atlantic57] 14/3/2018 19:02

Noirua I would love you to be correct on your gold price prediction.
However my view is that crypto currencies are the most favoured alternative investment.There are so many issues out there which should support a rising gold price but it just does not go up.

My guess at 31 December we will be at 1375

[deka1] 14/3/2018 06:57

Mornin all ,Thanks for your thoughts guys.
IMO the main driver for MML share price (now that things at the mine are on a much better footing) is the gold price , if as Noirua says gold gets to 2k /oz, the sky',s the limit ,at that price with the aisc at say 900, they would be making 1100/ oz before offtakes,oohhh my.

[noirua] 14/3/2018 02:16

Early days still, even if some of us have been waiting for years. Yes, a slow recovery to A$1.00 now looks on the cards as MML recover - will that be 2018 or 2019? Hopefully gold backed crypto currency that is coming in over this year - Goldblock being one - should boot the gold price on to A$2,000.00 this year.

[tightfist] 13/3/2018 16:21

Hi deka, HH;

In due course (and IMHO) there should be a lot more to come - I would think A$2 in two years time is not excessive.

I am still intrigued why the "voluntary" change in writing-off all Exploration expense (see sheet 17 of the H1 Report). I calculate that even after expensing of ALL exploration cost on the June balance sheet (restated), the NAV (IMO) is around A$0.88 per share.

Cheers, tightfist
PS: But there have been several false dawns with MML and the tightfist portfolio....

[haughtonhoney] 13/3/2018 07:11

Doing well....and worth more too

[deka1] 13/3/2018 06:36

Medusa has now doubled since the low of November ,

[tightfist] 10/3/2018 17:51

Hi deka,
Thanks – I’ll certainly do my best, but it’s going to take a few weeks to fully recuperate….

Hi Chip,
Yes, a shame that ProActive jammed in a fifth presentation – covering a rather tired ASX story. The only interest I have is ensuring Stratex get their loan repaid toute suite!

So I missed the opportunity to chat with BT and yourself afterwards. I have been aboard the MML roller-coaster for almost 11 years and I have a long memory; it would have been entertaining. I was taken aback in the Q&A by the BT “plus 15%” hoisting assertion – I would guess that he has had has wings clipped by the absent ultra-conservative Chair, Andrew Teo?

Anyway, the share price has finally broken-out to a new 52 week high though it’s going to be a long climb to achieve a respectable rating, now quoted just on the ASX. There were some good 25k Buys on Friday. The younger man on the front side-wall felt quite strongly about the persistent lowly MML valuation – me too.

Incidentally the chap directly in front of you was “Tadtech”; who also inhabits these BB’s; I am surprised he stayed in the same room as the chap presenting Crusader!

Cheers, tightfist

[deka1] 09/3/2018 20:08

TF , get well soon .

[chipperfrd] 09/3/2018 11:11

Sorry to hear about your hospitalisation TF. I trust all is well now.

Such a pity we did not have time for a good chat. I did not realise it was yourself behind me at the presentation.

You would certainly have enjoyed talking to BT. He is certainly not the 'usual' promotional type of CEO/MD that one tends to see at such events.

I was quite surprised to find that very few other attendees spoke to him. I guess it just emphasizes the very poor sentiment for MML these days after all their issues.

All the best
Chip

[tightfist] 09/3/2018 10:23

Hi Chip, All;

I have been out of action with surgery since the Mayfair presentation - hence the silence, but starting to bounce back now.....

....Just like the MML share price which hit a 52 week high with reasonable volume last night. It's been a long time coming but hopefully there is a LOT MORE to come, now that the E15 Service Shaft is finally nearing completion. BT's conservative approach is coming good?


Chip, thanks for the feedback from your discussion with BT re: Dividend resumption. I guess his prudent answer is what you would expect at this stage - your timescale is IMHO realistic; I suspect Autumn 2019 is a reasonable assumption, after the 2019 FY has been demonstrated.


Cheers, tightfist

[deka1] 09/3/2018 07:23

MML rising while gold falls , interesting ! someone building a stake ?

[speedsgh] 02/3/2018 10:49

Cambodian Exploration Opportunity: expiration of MOU -

On 10 January 2018, Medusa Mining Limited (ASX: MML) (Medusa) announced that it had entered into a Memorandum of Understanding with SEA Resources Pty Ltd, Sovann Resources Co., LTD (a related Cambodian entity of SEA) and the shareholders of Sovann (together, referred to as SEA) regarding an exploration opportunity in the Prek Kampi region of Cambodia (MOU).

The MOU provided a non-binding framework to guide Medusa and SEA in the negotiation of an Earn-in Agreement under which Medusa could acquire up to a 70% interest in a metallic mineral exploration licence applied for by SEA in the Prek Kampi region of Cambodia.

Under the terms of the MOU, Medusa and SEA had until 1 March 2018 to finalise the Earn-in Agreement. The Earn-in Agreement was not finalised by 1 March 2018. As a result, the MOU expired and Medusa will not pursue this exploration opportunity.
Medusa remains committed to expanding its presence in South East Asia as part of its longer-term strategic diversification plan.

[chipperfrd] 02/3/2018 08:41

Hi TF,

Yes, I did inquire about dividends. I did not get the impression that they are high on BT's priorities. However, perhaps they might have a change of heart in 12 or 18 months time.

Sorry we did not get an opportunity for a chat. Perhaps another time.
Chip