Metals Exploration Share Discussion Threads

[tsmith2] 04/5/2010 16:50

great news.

sentiment not with resource stocks - OZ!

market will digest and we should start seeing the price rise.

[holism] 04/5/2010 11:38

Yes pro but how long is a piece of string, the moly question has been out there for too long with no resolution.The drilling strategy has been lamentable with no clear direction, first we are told we have a Cripple Creek look a like then we do infill drilling, then there is a change and drilling looks further afield. What are they doing? These people are so slow.In my view they need a team of guys who can get on with it.The gold is there but how much is anybody's guess.The company has no clue.Disappointing!!

[pro_better] 04/5/2010 10:42

management really needs to be very careful imo...the costs will rise due to high strip/not very high grade. nevertheless it is a lovely asset and the key here is the molybdenum which if they can recover it economically would really make a difference...

[holism] 04/5/2010 10:35

Well if anyone can arrange a good funding deal it should be Beardsworth.Still not happy though with the composition of the board of directors.The numbers are fine but low key. It will be interesting to see a new timetable for this company.Looking at your chart for gold mining and exploration companies Chip where do you place this stock? Looks very cheap to me reflecting perhaps the very slow progress made so far and the question mark over the future. Can the management team progress this project and when?

[chipperfrd] 04/5/2010 09:46

I have updated post #1 with BFS numbers. Resultant is purely IMO and will be very dependent on funding (equity share, etc). But I arrive at an estimated 8.1p EPS for CY2012.

We clearly need to know what sort of funding deal can be arrived at (debt:equity, etc) but with the share price at current levels it will make it difficult for the company.
Chip

[unconscious] 04/5/2010 09:12

I read the RNS just after it was released and it looks very positive to me.
Gold is King at the moment and likely to remain so. At the Current price of $1178 oz and the possibility of going even higher, MTL are sitting on a hugely profitable resource. The Moly credits should allow the Gold to be mined for less than $400 oz, which is rediculously cheap. I look forwards to watching MTL grow and the share price too!

[mikey34] 04/5/2010 09:04

Agreed,chip.I've been surprised by the lack of trades this morning.....perhaps there's some caution because of the proposed resource tax in Australia.....that makes this even more attractive in my opinion.

[chipperfrd] 04/5/2010 08:41

On first read-through it all looks fine to me.

No major surprises from the BFS. Capex kept to reasonable level with possible additional info to come re Moly processing.

Significant that they have moved large proportion of the resource into P&P reserve which makes the current market valuation per oz ($37/oz) look way too low.

It will probably take the market a while to ruminate over the numbers and for broker and media notes to be circulated.

[pr0t0n] 04/5/2010 08:19

All asleep here ;) ???
RNS out.

[tsmith2] 28/4/2010 15:51

hopefully its on monday

[nickyboy70] 28/4/2010 14:18

Following my call I emailed Jonathan Beardsworth directly. This is the reply I received last night:

"Hi [my name deleted],

As I presume you know I am in Manila at present pulling together the final numbers on the feasibiliity study.

All looks good for an announcement later this week or early next.

Best
JB. "

Personally I think his tone sounds quite positive.

[holism] 27/4/2010 23:02

I wonder how Beardsworth fills his day? Think about it.

[tsmith2] 27/4/2010 16:45

NB70

likewise called the co to be told the same, so although we may not have news out by the end of Apr we should have news very very soon. Things looking good, I suspect we may still have some news between now and the BFS being announced.

IMO - v undervalued.

[nickyboy70] 27/4/2010 15:51

Hello Phoned the company this afternoon for an update. They told me the ceo, Jonathan Beardsworth, is currently in Manila finalizing the bank feasibility study. So hopefully we will have some concrete news soon that will get the shares moving.

The shares are dramatically underpriced for a company with a decent sized amount of measured ad indicated ounces of gold.

[holism] 27/4/2010 14:07

Hope so, how will that change the spdo you think chip? Assuming previous cost estimates and moly credits hold up.

[chipperfrd] 27/4/2010 13:03

We should be hearing the outcome from the BFS shortly.

[holism] 26/4/2010 13:00

tsmith- thanks.

[tomking2] 13/4/2010 18:24

If you are interested in quizzing management, the company is exhibiting at this show in April: www.masterinvestor.co.uk. They have a few free tickets available for shareholders and other interested parties if you email the organisers at [e-mail] quoting 'Metals Exploration shareholder'.

[5pongebob] 13/4/2010 13:26

Holism
hope this helps
DJ Metals Exploration Reworking Parameters At Runruno

LONDON (Dow Jones)--Metals Exploration PLC (MTL.LN), a pacific rim natural resources exploration and development company, said Tuesday that it has been engaged in reworking the parameters of its planned gold-molybdenum operation at Runruno to reflect the revised resource of 1.5 million ounces of gold and 25.4 million pounds of molybdenum.

MAIN FACTS:

-The company expects to receive an updated resource estimate from Mining Associates within the next few weeks which will include all drill hole data received up to the end of 2009.

-This will allow more comprehensive and definitive pit optimisation work to be completed, leading to more detailed numbers being fed into the final feasibility study scheduled to report in April.

-The company is increasingly confident that these studies will confirm the economic viability of an operation producing 100,000 ounces of gold a year and one million pounds of molybdenum oxide over a mine life of at least ten years.

-Capital costs are not expected to exceed $150 million, and operating costs are expected to be lower than those reported in the Scoping Study announced on Nov. 3 2008 ($463 per ounce of gold gross, i.e. before molybdenum credits).

-Anticipated Newsflow As the feasibility study nears completion the company expects the various component parts to be sufficiently advanced to allow the company to update the market in advance of the full feasibility study, which is targeted for April.

-Specifically the company anticipates resource updates, progress on step-out drilling, developments in the metallurgical testwork on both gold and molybdenum recoveries, and progress with the Environmental Clearance Certificate.

-By London Bureau, Dow Jones Newswires; Contact Ian Walker; [phone]; [e-mail]

(END) Dow Jones Newswires

January 26, 2010 02:46 ET (07:46 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.

[holism] 13/4/2010 07:23

tsmith- what news are we expecting?

[tsmith2] 12/4/2010 17:12

going to be ultra bullish and say we may well be at 20p before the month is out!
There's sticking you neck on the line.

We are due news..

[rcktmn] 12/4/2010 12:35

Can it break out beyond 14p ? or will it then retrace back down to 12p ?

Anyone know when news is likely to be released?

[giantpeach2] 09/4/2010 12:34

steady buying pushed the bid up, steady as she goes!!!