Metal-tech Share Discussion Threads

[kinghorm23] 26/9/2011 15:33

MTT has huge amount of debt which topinfo of course fails to mention.

He reads a massive set of results in 5 seconds and starts a pump and dump
so beware chaps, he will be the first one to dump.

[topinfo] 26/9/2011 15:24

Time to buy!

[topinfo] 26/9/2011 15:21

NICE Guys!

DJ Metal-Tech Ltd Interim Results

TIDMMTT

RNS Number : 9428O

Metal-Tech Ltd

26 September 2011

26 September 2011

Metal-Tech Ltd.

("Metal-Tech" or "the Company")

Results for the six months ended 30 June 2011

Metal-Tech, the producer and recycler of speciality metals such as Tungsten and Molybdenum, announces results for the six months ended 30 June 2011.

Financial Summary:

-- Revenue increased 40% to US$29.9m (H1 2010: US$21.3m), reflecting increased prices of Tungsten

-- Gross profit increased to US$3.9m in (H1 2010: US$0.3m loss), due to tight cost control measures and an increase in Tungsten prices

-- Net Profit of US$2.5m (H1 2010: US$5.4m loss)

-- Income incurred by deconsolidation of a subsidiary that ceased being consolidated, Shim-Technology Co. Ltd. ("Shim-Tech"), the Company's Mongolian subsidiary, of US$3.5m (H1 2010: US$1.4 loss) presented in discontinued operations

-- Operating expenses as a percentage of revenue reduced to 13% (H1 2010: 16%)

-- Bank debt was US$20.7m at 30 June 2011 (31 December 2010: US$21.9m after neutralisation of US$6.7m loan of non consolidated subsidiary)

-- Cash, cash deposits and restricted cash balance at 30 June 2011 were US$6.4m (31 December 2010: US$7.3m). The restricted cash at 30 June 2011 was US$5.6m (31 December 2010: US$5.1m)

-- Positive cash flow from operating activities US$1.5m (31 December 2010: negative US$1.0m)

Operational Summary:

-- Average selling Tungsten prices increased 64% compared with the same period last year

-- On 31 March 2011, a four-month industrial pilot phase for the validation of the Company's novel molybdenum extraction technology was completed satisfactorily under the supervision of a major publicly-traded international Chilean copper/molybdenum company. Negotiations regarding the implementation of the project have started, however it is currently difficult to assess if or when and what type of project will be implemented and any associated financial outcome to the Company

-- Tightly managed costs and cash flow to improve efficiency while maintaining strong focus on R&D in strategic areas

-- The Company's arbitration case against the Republic of Uzbekistan is ongoing, alleging that the country's treatment of Metal-Tech's 50% investment in Uzmetal Technology is unlawful

Commenting on the results, Aik Rosenberg, Executive Chairman and CEO of the Company, said: "We are pleased to report a period of continued progress in the first half of 2011. Strong demand for Tungsten led to sales of the metal at higher prices compared with the same period last year. The Company also remained committed to tightly managing its costs and finance whilst driving the business forward by increasing its recycling and production activities."

Enquiries:

Metal-Tech Ltd. [phone]
Ariel (Aik) Rosenberg

Panmure Gordon [phone]

[lovaine] 22/9/2011 10:36

Pure conjecture yet MTT interims almost due and might be released today.
Otherwise next Thursday looks the more promising.Despite the price uptick one can still buy at just 9.7p.(or following today's down tick, 9.5p )
Looking like next Thursday then.

[mudbath] 14/9/2011 11:57

May any contributions to this new thread prove both interesting and rewarding.
Hopefully its inception will coincide with an upturn in the currently muted share price performance.

[mudbath] 14/9/2011 09:11

Thanks luckyjonah.I did wonder if Niri was his only daughter.
As you are aware,my view is that there may well be a substantial amount of more positive news about to be released.
Hope you don't mind then if I were to start a new thread with more emphasis on the future rather than the past.It might just serve to reinvigorate the performance of the share price.
If my confidence proves ill founded,any new thread can always be lapsed.
Cheers
Mud.

[luckyjonah] 13/9/2011 08:54

Yes Ronen is Aik's son-in-law. As far as I remember, Ronen was promoted to the board long after the Uzbekistan issue, and around the time of the Mongolian issue.

I'm assuming the quote "we wish him well for the future" implies he has resigned from the company, not just as a Director.

Certainly need some positive news for a change!

[mudbath] 12/9/2011 17:17

Jhigylen.
Have you any up to date info on the progress of ICSID case No ARB/10/3 ?
Cheers, Mud.
==============
RNS.12 Sept 2010 3.00pm.
Metal-Tech, the producer and recycler of speciality metals such as Tungsten and Molybdenum, announces that Mr. Ronen Magen has resigned from his position as a member of the Board of Directors of the Company with immediate effect for personal reasons.

Mr. Aik Rosenberg, Executive Chairman and CEO of the Company, said: "I would like to thank Ronen for the work he has done as my deputy and for Metal-Tech and we wish him well for the future."

This seems to me to represent a fairly dramatic development !
I am assuming that Magen was/is married to Niri Rosenberg.
Can anyone confirm this ?

Could be of course that Magen has been deemed culpable for the Uzbekistan and/or Mongolian fiasco and that "personal reasons" is a euphemism for "der stiefel",family or not.

[unionhall] 07/9/2011 09:12

...then heaven or hell ?

[lovaine] 07/9/2011 09:12

mudbath,I remain in favour of Sept 29th,poss 22nd for the results ; not your suggested date.Just 22 days of purgatory remain.

[mudbath] 06/9/2011 08:19

REALLY pleased to hear that Mattjos.(not event part of it?)
Do you feel that their is a cause for some optimism over the future of MTT ?
Mud.
The proposed date for release of the interim results is currently next Monday,Sept 12th.

[mattjos] 05/9/2011 22:49

mudbath ... you've not acquired my holding

[lovaine] 05/9/2011 22:08

The price of MTT shares continues to languish at just 9.5 pence.
Although the market may yet take the stock lower,my belief is that the bottom has been reached.The current valuation of Metal-Tech at just over £3.5million is clearly nonsensically low if the past is disregarded.Looking to the future there seems a sound case for a sustained return to significant profitability.Surely it cannot be long before the share price reflects this potential.The interim results,due towards the end of this month,may be the catalyst for a move off current lows.A 6 month pre exceptional bottom line profit of around £2million should be achievable and if such a figure could be exceeded then an upward trajectory in the share price would be a welcome feature of luckyjonah's charts.

[mudbath] 02/9/2011 11:40

Many of the factories in Ramat Hovav,including MTT , use hazardous materials and evaporation ponds that pollute the air and leach cancer-causing chemicals into the soil and water.
A 2004 study commissioned by the Israeli Ministry of Health found a high rate of birth defects among children living in the vicinity. In August 2006, Ben Gurion University epidemiologist Batya Sarov, formerly a specialist at Chernobyl, compared the environmental monitoring and health risks to Chernobyl.
No wonder the accounts of MTT refer to a class action against the company in respect of health issues,against which no provision has yet been raised.(Metal-Tech Ltd. said the Council of Ramat Hovav in Israel has served it and 38 other parties with a damages claim alleging environmental contamination from the Ramat Hovav Industrial Zone.
The council is claiming that the contamination has damaged the health of the 82 individuals who have filed a damages claim against it and the State of Israel.)

As I said before;NOT for widows,orphans or those with a weak stomach for risk !!

When Mattjos posted last October,"will be in Tel Aviv end Nov & I have an open invitation from the BOD to visit :-),did he appreciate what a poisoned chalice was being offered ?As I have probably acquired his holding,my true identity must remain hidden from MTT to avoid any similar offer of hospitality !!

[mudbath] 01/9/2011 10:07

Seeing as we cannot sell @ 9pence,I have had an order in to buy MTT stock at that level,again to no avail.
You may well be correct lovaine as to timing.The sooner the better for me though.How I would just love to be right on this one as opposed to DOOMED.

[lovaine] 30/8/2011 15:47

I doubt if the results will be forthcoming this Friday mud,so calm down.
Either Sept 29th or Sept 22nd look more likely in my book,although an announcement has yet to be made.

[mudbath] 25/8/2011 13:07

Whilst tungsten prices are fluctuating just below record levels,the trend remains positive.

According to Tungsten News,
"Supply is tight and prices have more than doubled over the past two years. From January to August, China's prices have risen 41 percent, to the current rate of about $24,581 ton (157,000 yuan/ton).

Part of the price increase for Chinese supplies is attributed to rising production costs. According to Bango Alloy Technologies, producing tungsten concentrate, for example, requires expenditures for labor, processing, environmental security, and a number of taxes and fees.

Applying further pressure on tungsten availability is the fact that off-take agreements are common in this business. These are arrangements where one party agrees to purchase future production. Earlier this year, Pierre Monet, President of Malaga (TSE:MLG), discussed details about his company's agreement with Osram Sylvania's Tungsten and Powders division.

"To show how tight the tungsten market is, we produce a container per week and they would be willing to take a container per day," he told Tungsten Investing News."

Surprising and disappointing then that MTT shares continue to weaken,being available today @ 9.75 pence,whilst remaining near impossible to sell even in small quantities.

750,000 shares anyone ??

[mudbath] 19/8/2011 20:50

September 2nd has been put forward as the date for the half yearly update.
I make that 2 weeks today.How I hate Friday announcements,particularly those timed at 4.30pm.

[lovaine] 19/8/2011 10:57

It is a "gimme" that the deficit in shareholders' funds of US$1million,as at Dec 31st 2010,will be replaced by a surplus,once the interim figures are released.The question is just how big will the swing be.Obviously Aik Rosenberg needs to redress investors(and the Israeli Government's++the banks) view of his competence. Strong profit figures added to a favorable outlook statement would go someway towards this.
DOOMED..surely not ;just a rather uncomfortable waiting period,unless of course, like Mister MD and many many others,the exit button proved irresistible.

[lovaine] 18/8/2011 12:30

"DOOMED",mud ? Definitely not in my book.I concur with you that the interims might herald relatively exceptional levels of profitability.No doubt there will be a significant element of smoothing in order that MTT might continue its profitable trading in H2.A rally of any sort would be welcome MisterMD,especially if it has life beyond any first upward tick.

[mister md] 17/8/2011 19:46

always been like that with this share - I think many of us are in 'wait and see' mode - I've been out for a while, but will buy back in if the next update shows significant improvement - even if I miss the first part of any rally ;)

[mudbath] 17/8/2011 13:25

10.12pence to buy.
Impossible to sell even 10,000 @ 9pence.
Aarrgghh !!
Are we DOOMED ??
Or is this the darkest hour just before dawn?