Medusa Share Discussion Threads

[polaris] 28/6/2022 08:31

Volume is so low that buyback can't get started properly. I think ASX rules also limit the relative volume for any buyback in a day. The only day where X64 have been able to buyback was last week with a 500 k+ volume day, when they took 136 k, near 25% of daily volume. Today was sub 100 k. There needs to be a clear strategy to buyback.

[polaris] 28/6/2022 08:24

hTTps://www2.asx.com.au/markets/company/x64This has all necessary and useful information with links in one place.

[haughtonhoney] 28/6/2022 05:56

Hello. Could anyone point me in the direction of a live price/price chart for MML please? Thanks

[polaris] 24/6/2022 10:18

The other part is that the buyback will only use about 20% of currently available cash pile, even then I assume an average buyback price of AUD$1, significantly above the closing price today. Then again, 20 odd M shares being removed from circulation over 12 months does change the price dynamic somewhat.

[polaris] 24/6/2022 08:36

Buyback started on larger volume yesterday. First 136 k. ASX requirements give very useful information going forward on prices paid, average price paid and ceiling for any trade. My best guess is that now buyback started, this will signal the floor in the price. Just a matter now of how many and what price for the up to 10% share capital mandated.

[polaris] 15/6/2022 07:26

First day of buyback and up near 5%, still on pretty pitiful volume of near 200 k. Mandate allows up to nearly 2 m shares pcm to be bought back or near 100 k per trading day. X64 need some news now to drive out the stale holders and generate volume for the buyback as if near 200 k volume moves price by 5% then that precludes further buy back until VWP catches up...

[polaris] 14/6/2022 16:14

Also note the US$ strength is pressurising gold in US$ but the cash pile is growing in AUD$ as AUD$ weakens against US$...currently near an exchange rate of 0.69. Means fewer US$ required to buyback shares on ASX, as traded in AUD$. That's more buyback bang for the available buck!

[polaris] 14/6/2022 16:07

Not listed on the X64 website but there is an update to the buyback timeline on ASX published today, with brokers announced, and the start date listed as from 15/6/22 (so from tonight in UK time) and end date of 1/5/23. Let's see what the buyback rate is without affecting the SP, within the boundary conditions of not above VWP over last 5 trading days +5%.

[deka1] 01/6/2022 11:07

anybody got any news lol

[polaris] 18/5/2022 17:36

If it pushes the share price in the direction that benefits me then I am happy. 5% above the VWP over last 5 days will be a slow process. Buybacks are not meant to move the price too much. That's the point of the 5% VWP clause. It may spur some extra volume and new interest if management can also get some news out. I'd assume normal statutes allow up to 10% of shares to be bought back before an EGM was required.

[glavey] 18/5/2022 09:11

That's not quite what it says:
"The share price will be no more than 5% above the volume weighted average price over the 5 trading days prior to the purchase."

More to the point, that supports the pockets of new management by pushing the share price in the direction of any vesting options, awards and shareholdings and detracts from any potential dividend payment (for long term holders).

[polaris] 17/5/2022 13:53

Up to 5% movement from volume weighted price allowed for buy back. It's going to take time to buy back in any volume. With some luck it will finally flush the stale holders.

[kimboy2] 17/5/2022 10:19

About time.

[chipperfrd] 10/5/2022 12:59

Hi Greenleaf,

Chart edited.

[greenleaf] 10/5/2022 10:49

Hi chipperfrd

Any chance of changing the share price graph in the header to ASX:X64

Many thanks

greenleaf

[polaris] 10/5/2022 08:17

Looks like another chance to get in in the mid 60s on ASX. With strength of US$ and the cash pile, X64 (MML) are once again trading at near 1x earnings based on the EV. Current market cap is near AUS$155 M with between AUS$105-110 M in cash, or AUS$0.47 per share. H1 earnings came in around AUS$0.1 per share. H2 will be a similar EPS...

[polaris] 06/5/2022 11:24

Name change passed at EGM. The presentation with meeting has a few snippets worth mentioning. From Monday MML will be X64 ticker. New board looking to retain more physical and use the gold to create income, suggests loaning it out for collateral payments and running down actual cash pile. M&A mentioned. One to keep an eye on. Want to diversify beyond a single asset producer. share price closed at AUS$0.75.

[geckotheglorious] 03/5/2022 11:50

Glavey
Post 38590
"Gecko,
Are you missing the point?"

Must be unless it's about a new beginning for the company under new management.


"It's no longer about Medusa, Philsaga or Mindanao"

If it's not what I suggested above, what is it about then?



"Not a fan of the proposed new name though."

Then vote against.

"I'd love to, but my Nominee Holding doesn't see me have any ability to vote!"

[glavey] 03/5/2022 04:25

Gecko,
Are you missing the point?
It's no longer about Medusa, Philsaga or Mindanao.




"Not a fan of the proposed new name though."

Then vote against.

[c9ajl] 03/5/2022 03:16

Appointment of Executive Chairman - Jeffery McGlinnHttps://www.medusamining.com.au/wp-content/uploads/2022/05/220503_appointmentofexecutivechairmanjefferymcglinn.pdf

[c9ajl] 03/5/2022 03:15

Appointment of Non Executive Director - Aaron TreyvaudHttps://www.medusamining.com.au/wp-content/uploads/2022/05/220503_appointmentofnonexecutivedirectorAaron-Treyvaud.pdf

[geckotheglorious] 29/4/2022 11:15

Glavey

Suspect they want to draw the line under Teo's disastrous reign and a name change is a good way to attempt to start with a clean slate.

Not a fan of the proposed new name though.

Mindanao Gold far more succinct and punchy, and tells you ALL you need to know.
Which is waht you want a company name to do.

[glavey] 29/4/2022 06:26

"10-64" may be just massaging Ryan Welker's ego. There is nothing to say that the assets of "Ten Sixty Four Queensland" have any significant value yet. Unlike the attraction of Medusa's cash which were, rather obviously, the attraction for the 'coup'. It appears a takeover by intent where existing shareholders have not been rewarded and may or may not be advantaged.

For now I do not see why the existing name does not adequately suffice. Ryan Welker does not control the company (yet).

[polaris] 29/4/2022 01:03

Small decrease in guidance with an increase in AISC forecast cf. original plan. MML will still be clearing $500+ per production oz to fund Tiger Way. I'd take more of the same for Q4 FY22. Even with Tiger Way spend, the cash pile showed a small increase this Q. With the strength of the US$, the market cap is about 55% cash right now!

[c9ajl] 29/4/2022 00:42

March 2022 Quarterly ReportHttps://www.medusamining.com.au/wp-content/uploads/2022/04/220429_march2022quarterlyreport.pdf