Metals Exploration Share Discussion Threads

[meijiman] 13/6/2016 09:41

RNS re gold pour.

[holism] 11/5/2016 15:25

good places to find out what is going on, the expats are very talkative on a FRIDAY.

[ssadim] 10/5/2016 19:44

Only occasionally, ditto Manila Club and Nomads. The Polo Club was my usual port of call!

[holism] 10/5/2016 11:58

Did you drink in the Handle Bar ssadim?

[ssadim] 09/5/2016 13:21

LB. I used to live and work in Manila, but no longer. I knew most of the expat mining community well. I used to occasionally post on MTL BBs but have not done so for years.

[holism] 09/5/2016 11:13

Yes LB I remember Beardsworth and Cripple Creek. Goodness we have been here a long time!!

[lord badger] 09/5/2016 10:50

ssad, how cool. Do you live in that part of the world?

[ssadim] 09/5/2016 08:38

Thanks LB. Its been a long time in the coming. I visited the site in 2008, my kids panned for and found gold, you had to look verrryyyy carefully to see it. We also planted a few trees!

[lord badger] 08/5/2016 21:30

Hol, I think rate of production is an interesting one. The company is currently quoting an average of 100,000oz per year, but it would be interesting to establish what the throughput capacity of the current plant and processes actually is. You can look at it two ways: they're quoting circa 100,000oz pa because they have approx 1moz of 2P reserves and they factoring a minimum 10 year mine life…but if the 2P increased they could ramp up annual production to suit; or the existing plant and processes is only capable of processing circa 100,000moz and so they've set a minimum 10 year mine life. If the latter then annual GP/NP would be capped: if the former, well, that's were it gets interesting.

ssad, down the line I've got this pegged at anything between 17p and 28p but everything hinges on how much gold there is in 'dem 'dere hills plus a whole load of other variable like the above, PoG, etc. To date (or at least to the date of the last reported reserves/resource in April 13) they'd only drilled a small proportion of the property, so who knows what they'll find. They were advertising for a mobile drill rig operator to be in post by June of last year and with all the delays and downtime on the mining side of things, they could have been test drilling for nearly 12 months. Who knows, we might even seen a resource update at the AGM at the end of June. That could be really interesting and could be the next share price trigger point.

In terms of fantasy valuation, remember, a couple of years ago they were talking about the geological similarities between Runruno and Cripple Creek, the largest gold mine in the world!

[giantpeach2] 06/5/2016 12:07

666,000 just brought, thing starting to get interesting.

[ssadim] 29/4/2016 15:59

Based on those figures where the share price likely to be? Thanks.

[holism] 29/4/2016 14:33

Just don't get it, its been a long wait. Production this coming quarter, likely to take about 3 months to ramp up to the annualised rate of 125k ounces. Cost below $675. If they can operate successfully at this level pre tax profits should be in excess of $70M per annum. Dividends ahoy. Looking good at last.

[rupert1] 29/4/2016 12:18

Nice to see the price of gold hitting $1,280 this morning, a 12 month high.

[thomasthetank1] 25/4/2016 15:10

Read share price Angel's note on METALS EXPLORATION, out this morning, by visiting hxxps://www.research-tree.com/company/GB00B0394F60
"Metals Exploration has announced that the Mines & Geosciences Bureau has lifted the Suspension Order imposed on the RunRuno mine development in the Philippines in the wake of the October typhoon Lando which caused damage to mine infrastructure and the tailings disposal facility.
Conclusion: The suspension, which will be subject to performance monitoring in the future is welcome news and should enable Metals Exploration to complete the commissioning of RunRuno..."

[wiseacre] 25/4/2016 14:52

Shares should be off to the races on today's announcement.

[langostino] 30/3/2016 14:10

Jeremy Ayre is the 'AYR' of Ayr LLoyd Capital Ltd who are investment advisors to Baker Steel Resources Trust who are in turn significant investors in Metals Exploration. A very positive sign IMO

[lord badger] 29/3/2016 16:29

Well, if you're looking for a precursor to an announcement that we're entering full production, then this is as good as it gets:



A nice chunky director buy in. Can anyone remember which group of shareholders Mr Ayre represents?

[hutch_pod] 13/3/2016 09:37

Thanks LB, yes its hard to get too excited anymore but at some point, gold will surely flow...

[lord badger] 11/3/2016 15:01

Given that we're only 11 weeks away from the 1st June, when the first big chunk of the debt repayment is due, this really comes as no surprise.



The only issue is the line contained in the above which says " it will now have in place sufficient working capital to continue until it commences operations through to realising self-sustaining cash flow." I think we've seen this before! It's a bit like saying it will be sunny on the 1st of June; the odds are good but there are factors at play beyond anyone's control.

A bit miffed about not being able to participate in the placing via an open offer but then if they can do the job with four meetings with the major shareholders, and time and cost are very real issues, it doesn't surprise me at all. As some said at the time of the last fundraising, given how small a group we are, the retail investors that is, we were lucky to be cut in at all. This latest fundraising will dilute by around 10%.

No wonder the response from the company to my query about the debt restructuring was a little vague - apologies HP, I received a response on Wednesday. It read "The two schedules are different and designed to alleviate dec2015 payment.", which made very little sense given that it didn't address two of the main parts of the question I asked.

[swizz] 07/3/2016 09:03

The wait goes on......GL S

Runruno Project Update on the Partial Suspension Order


"Partial Suspension Order Update"

"Further to the announcement of 26th January 2016, the Company confirms that it is continuing to work with the Mines and Geosciences Bureau (MGB) and diligently observing the verification process which should facilitate the partial suspension order being lifted. The completed rehabilitation and enhancement works are being verified by the MGB who is satisfying itself that the work is complete, the standard of works is compliant and that the third party geotechnical and design reports are satisfactory."

"Once the MGB is satisfied and the partial suspension order lifted the Runruno Project will complete ore commissioning and move into commercial operations shortly thereafter."

[lord badger] 23/2/2016 14:08

HP, no but I chased them up this morning. I'll let you know as and when I get a response. Just wish we could get some gold out of the ground with PoG at this level and with the dollar exchange firmly in our favour. I bet the latter wasn't plugged into the financial projections.

[hutch_pod] 23/2/2016 13:55

Looks like the shorting brigade have arrived :)

Hey LB, did the company respond at all?

[lord badger] 23/2/2016 09:37

Cripes, the big guns are moving in now. First trade of the day, £3.94! Hold tight!

[lord badger] 11/2/2016 19:31

Now would be a good time for an announcement!

[hutch_pod] 10/2/2016 11:25

Great! We just need to know what cash is being paid out this year to service the debt.