Medusa Share Discussion Threads

[deka1] 09/11/2020 09:35

open 0.84
High 0.84
Low 0.82
Mkt cap 172.47M
P/E ratio 3.58

au$200 MCAP to go into the asx 200, wont be long imo
but i am biased lol

[deka1] 09/11/2020 09:24

Hi TF yes that will be a good day for mml, cant happen quick enough for me .
the reintroduction of Divs early in the new year , imo with the half yearly report,
will push the share price considerably higher , here's hoping .

[deka1] 09/11/2020 09:11

Gazz2 good to see you made a good 3/400 % profit last time ,jump on board again and make another killing this time round .

[tightfist] 09/11/2020 08:37

All we need IMO is a Chairman who can strike a relationship with an incoming CEO - who is competent and empowered. At some point AT has to go - bring it on as far as I am concerned.

[gazz2] 09/11/2020 08:14

So I am not alone here, I held Medusa from around 72p all the way up to £5.60 and back down to £2-3 where I sold the lot!

Despite reading Chips posts, I could never invest in this again having fallen to around 40-50 cents, and delisted off the FTSE was one hell of a red flag, still is!

[goodgrief] 09/11/2020 08:05

Different co? Same management!

[deka1] 09/11/2020 07:57

both filtered , no more history lol been there,this is a different co,and a screeming gold price ,throwing off money hand over fist.
if your not in it you cant win it lol

[goodgrief] 08/11/2020 23:37

Interview with fund manager of Merian Gold & Silver...And your worst investment?Early in my career, I invested in some low-quality mining companies that burned me. One was Medusa Mining, in the Philippines. A mixture of asset quality issues, management failures and poor governance meant I lost half my initial stake before selling the company.

[tightfist] 02/11/2020 08:06

Hi Steve, thanks for the AGM whisper - hopefully it was louder than that in some quarters! All my minnow goldie producers are generating buckets of FCF cash and have virtually no debt - but for MML to pay a dividend would be monumental.

Cheers, tightfist

[stevea171] 01/11/2020 18:13

First whisper of a dividend by Teo at the AGM last week - 29/10. If paid, it may finally push the share price past $1.

"From this strong financial position and more consistent operating base, the business is approaching a position the Board believes the return of excess funds to shareholders through dividend payments can be considered alongside its capital and growth requirements. The payment of a dividend will be actively under consideration at the interim results in February 2021."

[deka1] 27/10/2020 14:07

TF cheers .

[tightfist] 27/10/2020 08:42

Thanks deka, let’s see what reply you receive from MML. They may need a nudge to include RCV access in their reply.

Steve, I fully appreciate and understand your scepticism - Teo seems to be a past-master of false dawns and wasted cash. I agree, in isolation RCV looks too deep to be economic - but if it is successfully drilled further then it could be approached underground from the side and the situation may become very different..... Just a thought!

Cheers, tightfist

[stevea171] 27/10/2020 08:11

Imo Royal Crowne Vein project is a distraction as it is not proven that the small resource at depth (13k oz) is economic to mine. Even if drilling increases the size it will likely still be peanuts and best left in the ground.

The new decline is designed to extract ore from the main deposit.

RC is 3 Km away with no known linkage.

They should be going after a 500k oz or a 1 million plus oz deposit and stop wasting even more time and money fooling about here ...

[deka1] 26/10/2020 13:44

TF hi , i have emailed the co asking if all veins will be Accessible via the decline when its complete;

Will post any reply .

[tightfist] 26/10/2020 12:49

Hi deka,

I was wondering about access to Royal Crown Vein which seems to have delivered useful grades - but at depth. I was thinking that some poster may have looked into the possibility of lateral access off the new decline (aka Tiger Way) - my guess is that will some way away - too far?.

No problem trading drago, as long as you have a route to Australia ASX trading. They delisted in Toronto and then London about seven years ago. I guess you need to find out where/how your shares are now held?

Cheers, tightfist (UK)

[geckotheglorious] 26/10/2020 11:15

Listed on Aussie stockmarket.
Sell it there. :)

[drago] 26/10/2020 11:04

its been years since mml delisted.

whrere / how can they be sold?

thanks in advance

[deka1] 26/10/2020 10:32

TEMPORARY 7 DAY SUSPENSION OF Co-O MINE

Operations at the Co-O Gold Mine have been suspended commencing today for seven days until Tuesday, 3 November 2020 at the direction of site management and the Medusa Board
Decision taken after a small number of employees were identified as having tested positive to COVID-19 through the on-site rapid testing program
All areas of the operation will be disinfected during the suspension and all employees and contractors will be tested before being allowed back to site
The temporary suspension will have no impact on FY21 production guidance of between 90,000 to 95,000 ounces at All-In-Sustaining-Costs (“AISC”) of US$1,200 to US$1,250 per ounce

[deka1] 19/10/2020 14:52

TF hi as is described above it must be able to access all Veins from the decline .
why would they build a decline that was not giving access to all the resource ?

Unless they plan to complete the royal crown vein depletion using the old haulage rout, three years to build the new decline anyway.

[deka1] 19/10/2020 14:48

Comprehensive study completed on future infrastructure options at
the Co-O Mine to access the orebody below the limitations of
existing shaft infrastructure;
 Study concludes that the establishment of a decline is the best
option to access ore below Level 12, extend the life of mine and
enhance operational and exploration flexibility at the Co-O Mine;
 Current Ore Reserve of 350,000 ounces extends to Level 12 with
high-grade mineralisation intersected in drilling below Level 16 and
remaining open at depth, constrained only by the limits of drilling;
 Decline construction expected to take 36 months with gold
production to continue at previously planned levels throughout the
construction period;
 Estimated capital cost of US$48 million, the majority of which could
be funded from existing cash reserves of US$25 million and future
operational cash flow;
 Final stages of planning and engagement with underground mining
contractors in progress with the project expected to commence in
the current H1 2020.
Medusa Mining Limited (“Medusa”; or the “Company”;) through its Philippines affiliate,
Philsaga Mining Corporation, is pleased to report the outcomes of a comprehensive
study into the long-term infrastructure solution at the Co-O Mine (the “Study”). The
key objective of the Study was to underpin the long-term future of the mine by
facilitating the best means of extracting gold-bearing ore from Level 12 and below,
as well as providing a platform for more effective in-mine and near-mine exploration.

[tightfist] 19/10/2020 13:44

To respond to my own question - is it plausible that they could laterally branch-off the decline and tap into Royal Crowne Vein at depth? I have’nt looked seriously at the distances involved - at surface the mines look indicatively around 5km apart.

But - be careful - that could be creative and value-enhancing....

Cheers, tightfist

[deka1] 19/10/2020 13:09

IIRC the est cost for the decline was around the 40 mil mark ----by the end of co year they could have 2.5 times that sitting in cash

[speedsgh] 19/10/2020 11:57

tightfist - your post 38301...

"The exploration results at Royal Crowne Vein are interesting - how does one get (economically) to gold buried 300m underground?"

I think you may have identified just one area where Mr Teo probably feels he can direct the company's accumulated cash to ensure none of it gets into the hands of those pesky shareholders.

[tightfist] 19/10/2020 11:22

In betweenwhiles the current Board will conjure-up more ways to expend/waste OUR cash.....