Medusa Share Discussion Threads

[stevea171] 06/8/2019 09:25

MML on FIRE.

High volume combined with high % price increases for the past 3 days.

2/8. 78c +5.5c 1.4 million
5/8. 83.5c +5.5c 1.1 million
6/8. 87c +3.5c 1.8 million

Volume is for the main ASX market only. There is an additional approx 15% traded on Chi-X, the secondary exchange. So today 2.144 million total traded on both exchanges.
This last 3 days trading hasn't happened for Medusa in years.

In Auz the recent MML rises are now being noticed and attracting many traders and PI's but not institutions.
The closing auction today saw a continuation of huge interest so I would expect that this rise is not over by any means.There is a real bun fight to get stock.

This is a huge spike which needs consolidation but if gold continues strong we could see $1 quite quickly.

Profitability is being transformed:
100k oz pa x $450 per oz = $45 million nominal profit.

It seems this is the beginning for many LT holders getting their money back?!

[deka1] 06/8/2019 06:50

aye plasy it is , perhaps a relist in the near future, i hold the stock and its no prob mind , but I agree its more convenient when listed here.
Through the dollar by the end of the week














again. which could be

[plasybryn] 05/8/2019 17:55

Shame this isn't listed in London.

[deka1] 05/8/2019 17:54

I love the smell of Napalm in the morning

[greenleaf] 05/8/2019 09:55

another 7% rise today...

[naughtynicky72] 31/7/2019 17:50

Nice 7.50% Rise !

[roguetreader] 30/7/2019 16:28

I suppose it comes down to semantics. To be fair I assume he is based at the mine site in West Australia as opposed to previously being in out of the Phillipines when with Medusa. But I took retirement to mean retiring rather than leaving. In the scheme of things it doesn't matter exactly why he left Medusa as it is water under the bridge and what really transpired within the BOD around his leaving will not be published.

[speedsgh] 30/7/2019 15:30

To be fair BT retired from the post of CEO, allegedly due to the travel requirements of the role. No idea whether his new role has less travel requirements. Where does his new employer have operations?

[roguetreader] 30/7/2019 11:05

Well so much for retirement, Boyd Timler joined Panoramic Resources as COO in April 2019.

[deka1] 24/7/2019 10:23

Date
Price sens.
Headline
24/07/2019
11:45 AM

June 2019 Quarterly Report
21 pages 8.4MB

[rogash] 24/7/2019 10:11

Was this released after the ASX had closed?

[tightfist] 24/7/2019 10:03

Hi,

LTH take a good close look at the report - IMO someone thinks we are suffering from collective amnesia..... More details later! tightfist

[c9ajl] 24/7/2019 09:48

Full Report:https://www.medusamining.com.au/wp-content/uploads/2019/07/190724_june2019quarterlyreport.pdf

[andypar] 24/7/2019 09:47

We are trading at 2x cashflow based on POG 1400 and A$0.7 share price and finishing next year with $50m in the bank.

I would be surprised if there are any cheaper gold miners in the sector.

[andypar] 24/7/2019 09:34

Pretty much as expected.

Good cash flow generation.

An interesting point is if you extrapolate these quarterly results for next year with a POG of 1400 then we would finish the year with c $50m in the bank. If the share price stayed the same A$0.7 that would represent approx 1/2 the mkt cap.

This quarters cashflow also included a reduction of $3m in debt/liabilities.

[deka1] 24/7/2019 08:52

LOOKS GOOD to me , opinions

[deka1] 24/7/2019 08:50

Quarterly Activities Report for the
Period Ended 30 June 2019
Production: 26,151 ounces at average head grade of 6.04 g/t gold (Mar 2019 Qtr: 29,858 ounces at average head grade of 6.98 g/t gold);
Cash Costs: US$566 per ounce (Mar 2019 Qtr: US$510 per ounce);
All-In Sustaining Costs (“AISC”): US$995 per ounce (Mar 2019 Qtr: US$939 per ounce);
Mill Performance: Gold recovery averaged 95.3% (Mar 2019 Qtr 94.7%);
Mine Development: Total advance of 7,778 metres of horizontal and vertical development (Mar 2019 Qtr: 7,293 metres);
Mine Infrastructure Projects:
­Connection between the internal hoisting winzes on level 10 with the E15 shaft has been developed. E35 winze continued development passing the proposed level 11 continuing on to level 12;
Final designs are being completed for the establishment of a major pumping station on level 10;
Work has commenced on the systematic refurbishment of the L8 shaft to improve its longevity as a key infrastructure at Co-O; and
­Study into accessing and mining below level 12 continued.
CORPORATE & FINANCIAL
Total cash and cash equivalent of gold on metal account at the end of the quarter increased to approximately US$23.4 million (Mar 2019 Qtr: US$19.7 million) after working capital movements, VAT, tax and interest charges; and
Head office relocated to Suite A, Level 1, 1 Preston Street, Como, Western Australia 6152 in June.
Co-O MINE EXPLORATION
Underground Resource Drilling
Total drilling for the quarter was 13,563 metres. Key areas targeted were:
Reserve drilling at levels 4, 8, 9 & 10 totalled 3,823 metres from 23 holes;
Resource definition drilling at levels 8 and 10 totalled 9,740 metres from 19 holes; and
­High-grade results achieved in resource drilling included 0.85 metres @ 171.78 g/t gold, 0.85 metres @ 169.44 g/t gold, 0.30 metres @ 140.26 g/t gold and 0.20 metres @ 109.21 g/t gold.
REGIONAL & NEAR MINE EXPLORATION
Co-O near Mine Exploration (MinEx):
Further drilling is planned for FY20 at Royal Crowne Vein to boost the initial resource announced in April 2019; and
Four scout drill holes are planned next quarter at West Road 17 project.

Epithermal Gold and Porphyry Copper-Gold Projects (Qld, Australia):
High level porphyry stockworks and visible copper mineralisation intersected in four drill holes completed at Mt Clarke West Porphyry Copper-Gold project - assay results pending; and
At Hill 212 Epithermal Gold Project, an initial drilling campaign is expected to commence in the September Quarter.

PRODUCTION AND GUIDANCE COSTS (FY2020)
Production guidance for FY2020 is between 95,000 to 105,000 ounces of gold produced at AISC of between US$1,025 to US$1,125 per ounce. This compares against FY19 actual result of 103,307 ounces at an AISC US1,045 per ounce

[stevea171] 24/7/2019 08:28

Q4/H2 production results released.

Comments on results from 'miningnut' a top 5 and long term shareholder in Medusa.
Miningnut Pty Ltd has a 4.2 million (2%) holding here.

"Cash generation of $US8mil($A11.4mil) for the quarter being cash increase $US3.7mil plus reduction in creditors/borrowings $US3mil, increases in inventory, receivables & VAT $US1.3mil.

Average gold price received for year $1264 could be increased by $150+ in FY19/20.

Current Chairman is never going to push the envelope here and will always be ultra conservative - IMO change is required. Filipinos managing the operation rather than Australian Management so needs a new dominating shareholder to make changes at the top."

[deka1] 24/7/2019 07:14

Yesterdays nice rise wiped out ,I agree steve those three large trades paid a premium
for the volume.

[naughtynicky72] 23/7/2019 15:45

Medusa on the Rise and Gold on the Rise about time all you longs !

[tightfist] 23/7/2019 09:55

Hi Steve,

A quick, believable, but possibly cynical response to your last sentence. It was so AT could demonstrate that something tangible was being done to enhance shareholder communications but without having to lift a finger himself - apart from censor Patrick’s drafts (at the last minute too, judging by the recent intro?). Q: Does he travel nowadays beyond the Perth city boundaries?

Cheers, tightfist

[stevea171] 23/7/2019 09:38

Closing price was 74.5c, up 4c.
The high volume was partly due to 3 huge trades:
346k @ 75.25c
239k @ 72c
150k @ 72c

So as is usual we have insider trading ahead of results being released to the public and shareholders generally.

A related matter. What benefit has there been from the appointment of Patrick Chang as Corporate Development Officer a year ago? Since then he has done that we know of one presentation in Hong Kong last year and that's it. Probably answered a few phone calls.

On the PR front the company continues to do next to nothing. No presentations to the public in Auz. The share price rise so far has been on the back of this usual near zero PR and near zero interaction with shareholders.

Why did Teo create a new position for Patrick Chang's employment to do next to nothing in the way of PR as before his appointment?

[goldrush] 23/7/2019 09:07

A nice big gain of 5c 7.1% in the share price today on 1.6m shares traded.

[atlantic57] 22/7/2019 12:03

And par There is clearly a huge problem of trust in the current Bod which will continue to hold the share price back relative to other miners.

[andypar] 22/7/2019 11:21

I'm expecting Q4 results to be worse than Q3's with a similar POG of approx 1310.

Obviously the reason for the share price increase and recent excitement is that every $100 increase in the POG adds c $10m to the bottom line.

An average POG of c 1400 in Q1 will add $2.5m to cashflow / profit compared to Q4.