Medusa Share Discussion Threads

[deka1] 26/7/2018 08:34

Hi RT , agree with you, and think a 9% hit is not all related to the report,after all the year prod was a little over top end estimate,people selling due to the hammering the gold price has had the last month, over $100 / oz down.

[roguetreader] 26/7/2018 07:04

My immediate synopsiz:
- not a bad quarter but hardly inspiring either
- cash down $3m, which is disappointing but not wholly unexpected given E15 delays.
- No restatement of September date for E15 completion, which raises the question in my mind - more delay?
- No 2019 guidance, possibly influenced by E15 delay and collating drilling results?
- tonnage up but grade down, where development still impacting grade, was hoping for better but not wholly unexpected given E15.
- Drilling results stated as good, but would like an independent view, as not obviously so IMO.
RT

[roguetreader] 26/7/2018 06:05

Quarterly Report out:



RT

[deka1] 06/7/2018 07:32

Some background on Ellenkay gold pty

aboutus

Ellenkay Gold is owned by a group of like-minded mining and exploration professionals with a track record of discovering mineral deposits, developing mineral’s projects and operating mines. The group has operated exploration and mining projects throughout Australia, South East Asia and Africa during their working careers.

Ellenkay Gold and its owners also actively assist other companies with consulting services. The company brings not only exploration and mine operating expertise but significant public company experience. The owners have experience working as Executive and Non-Executive Directors for companies listed on the stock exchange.

Ellenkay Gold’s Managing Director is Dr. Chris Bowden who represents the public face of the company. Dr. Bowden is a geologist with 20 years of experience. He was responsible for the Dish Mountain gold discovery in Ethiopia, Africa. In addition to this, Dr. Bowden has worked for a number of very successful exploration companies across the globe. He has been involved in multiple mineral discoveries

[deka1] 05/7/2018 06:53

Cheers Eintracht ----------QUEENSLAND EXPLORATION EARN-IN AGREEMENT (ASX: MML) • New earn-in agreement to earn up to 90% in two Queensland exploration projects • Areas prospective for epithermal gold-silver and porphyry copper-gold mineralisation • Projects have drill ready targets and first drilling is expected in the current quarter

Medusa Mining Limited (ASX: MML) (Medusa or the Company) is pleased to announce that it has entered into an earn-in agreement (EIA) with Ellenkay Gold Pty Limited (Ellenkay) regarding two exploration projects in Central Queensland, Australia (see Figure 2). The Hill 212 (EPM 26217) exploration project is an epithermal gold-silver opportunity approximately 30km east of Mt Coolon. The Mt Clark West (EPM 26008) exploration project is a porphyry copper-gold opportunity approximately 24km northwest of Nebo. Both projects have well defined drill targets generated through previously completed geochemical and geophysical work programs. Ellenkay currently has a 100% interest in both projects and under the terms of the EIA, Medusa may earn an equity position of up to 90% in either or both projects by managing and funding work programs through to the completion of a Pre-Feasibility Study. Medusa must spend a combined minimum of A$1 million on exploration activities across both projects in the first year before it is able to withdraw. Following this minimum expenditure commitment, Medusa can increase its interest in the projects by electing to meet and satisfying the following expenditure and development milestones

[eintracht] 05/7/2018 05:07

Whooppee,MML are coming to my neck of the woods. See announcement on ASX today.

[atlantic57] 03/7/2018 08:03

Dollar strength does not explain the sudden steep fall from 1300 to 1250.
This appeared to coincide with Trumps trade war with China.

Perhaps deflation not inflation is coming.

[deka1] 03/7/2018 08:02

66000/ oz peso, today price = $1237/0z, what difference does it make ?

1000 peso =$17.74

[kimboy2] 03/7/2018 07:31

Dollar strength.

Isn't the important metric the price of gold in Ph pesos

[atlantic57] 03/7/2018 07:29

Why is this ?
It should be soaring !

[deka1] 03/7/2018 06:48

gold taking a pounding again now down $100/oz since April.

[atlantic57] 30/6/2018 06:55

The latest predictions from Jim Sinclair

[rhuvaal2] 19/6/2018 21:16

Find a top notch CEO and let Teo fall back whence he came... Good production figures should perk this up but, failing the problem, let's get taken out. Sorry but I am a fairly new boy @ MML and so don't have the history to go on that you guys have.

[speedsgh] 19/6/2018 09:54

Seems to me that the problem is Teo. He has been the constant throughout all of this. Until he goes, I suspect the good ship Medusa will continue sailing in a similar hapless direction.

[glavey] 19/6/2018 02:47

PH-B isn't being 'brought back' though, is he. He's been given a non-exec position for reasons we don't know, but perhaps at the behest of a significant shareholder. What's more concerning is that no-one in a senior exec position seems to hang around long enough to see the job through. Hardly inspires confidence. Is it that they find they can't get on with Teo? Who's pulling the strings?

[geeseflynorth1] 18/6/2018 20:57

thank you Chip, you have clarified my thinking regarding MML and i agree that excuses are running out, make or breaktime over next 12 months.

[tightfist] 18/6/2018 19:37

I would certainly rather have BT running the MML show than Teo, even as an Interim CEO.
We should have a high-quality queue for new CEO; E15 Shaft almost finished, promoted COO in place, options package presumably still priced at A$1, far better understanding of ore body, etc.

I guess PH-B has been brought back purely because of his Phillipines experience - I can see no other reason!

BT opined (and repeated after a query) a 17% gold uplift after E15 is commissioned - RG was far more upbeat. I wonder what Teo would say.....

Cheers, tightfist

[eintracht] 18/6/2018 19:35

Capt, he was a vast improvement from PHB, who was the proverbial chocolate teapot. Agreed Chip, after 12-13 invested with little or no gain my patience is at an end. If someon offered me $1 I'd be gone like a shot.

[chipperfrd] 18/6/2018 14:31

Eintracht,

No. The last time I sold MML shares was back in 2011. Since then I have been buying back at ever-decreasing share prices!

I still compute MML as being one of the most under-valued goldies, so it would make no sense to sell at these prices irrespective of stupid actions by management.

But FY2019 will probably be 'make or break' for me with regard to remaining a holder. I have to have a limit somewhere re MML and excuses will run out (for me) once the new shaft is operational.

All the best
Chip

[american idiot] 18/6/2018 12:13

Free 100 Plus1 coins for you for clicking this ADVFN link :-

[haughtonhoney] 18/6/2018 12:11

Me too. But perhaps we will get shares in any purchaser and they makes a proper go of it.

[deka1] 18/6/2018 12:02

I cant help feeling mml is being set up for a cheap T/O,

Gutted !

[eintracht] 18/6/2018 11:41

You sold Chip ? Or close to it ?