Medusa Share Discussion Threads

[polaris] 01/7/2022 11:19

I'd contact the provider. Assumption is yes as it was just a name change but only they will know for sure.

[boadicea] 01/7/2022 11:05

I just received a communication from the registrar (Computershare Aus) to elect to receive all communications electronically which refers to needing "SRN/HIN and postcode detailed in this letter ...". They are nowhere to be found!
Do I assume that they remain the same as for MML before the change of name?... and will the dividend bank mandate carry over? (Hoping for more dividends.)

I think I have previously opted for electronic commumication under MML so will ignore the latest X64 notification (which arrived by email) and assume all is ok until it isn't.

[polaris] 01/7/2022 08:25

MML bought Aussie assets from Welker vehicle. Welker performed a boardroom coup to remove Teo. Now he has given 6 months notice. All the while, the operations have rumbled on, as they always have. In the background, work on access tunnel for long term debottlenecking of haulage continues. I'd say it is a trashing of reputation to enable a low ball takeout, but I'm a cynic.

[atlantic57] 01/7/2022 08:14

Then why is share price where it is ?

[polaris] 01/7/2022 07:56

Sheer madness returns. The market cap is $107 M. At last Qly they had $76.2 M in cash. X64 will produce around 88 k oz gold at AISC of $1350-1400. Their FY ended yesterday. EV is close to $30 M. At $1800 gold and top end of AISC, this equivalent to 1 year cash generation!

[deka1] 30/6/2022 16:45

chart shows Head and shoulders, any good?

[polaris] 30/6/2022 07:16

What on earth is going on? Welker just gave 6 months notice after ousting Teo. Makes me wonder if the boardroom coup didn't work out as he wanted.

[polaris] 28/6/2022 07:31

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 07:24

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

[haughtonhoney] 28/6/2022 04:56

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

[polaris] 24/6/2022 09:18

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 07:36

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 06:26

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 15:14

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 15:07

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 10:07

anybody got any news lol

[polaris] 18/5/2022 16:36

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 08:11

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 12:53

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 09:19

About time.

[chipperfrd] 10/5/2022 11:59

Hi Greenleaf,

Chart edited.

[greenleaf] 10/5/2022 09:49

Hi chipperfrd

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

Many thanks

greenleaf

[polaris] 10/5/2022 07:17

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 10:24

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.