Metals Exploration Share Discussion Threads

[laptop15] 17/10/2016 17:05

Tried to buy in at 5.75 but couldn't get anything.....next time maybe.I think it's a good investment but I will wait and see how this typhoon goes down.https://www.theweathernetwork.com/news/articles/two-dead-thousands-stranded-as-typhoon-hits-philippines/73257

[peterpowell21] 17/10/2016 16:21

anyone wanting to read the article share prophets mentions, the link is below.

www.manilatimes.net/british-fcf-miner-start-full-commercial-operation/289706/

[peterpowell21] 17/10/2016 13:26

laptop
i took a look at the forecast and its dont look to bad.
just need the paperwork to start selling the gold and then we will be away.
the finance will get sorted sooner or later, lets face it, banks are in the business
of lending money,they only have to look at what this company will be bringing in very soon. if a placing has to be done again, its not as if they will be going to the bucket shops and having to give a big discount.if the main holders dont cough up i am sure a placing could be done now at a premium.
but as you say this looks like a very interesting share to be in.
its over run by a few years, but when i came across it a few weeks ago i could not believe the market cap,and i feel this is a great time to get in.
good luck

[laptop15] 17/10/2016 11:59

Cheers Peter, definitely a good investment just hoping for the good weather then...lol

[peterpowell21] 17/10/2016 11:33

laptop
there is only around 6 weeks left before the good weather kicks in.
you cant do anything about the weather so why worry.
this will kick on from here sooner or latter.
just a case of waiting.

[laptop15] 16/10/2016 15:43

It's one of my main worries here, hurricanes, tornado's etc at the Philippines often gets crazy destructive storms. Like the one that wrecked the infrastructure and flooded the mine. Do u think they have flood protection and I wonder how strong all the out building are etc?Anyone else worried about this with this as an investment?

[ssadim] 15/10/2016 07:25

Bad weather due to hit northern Luzon over the next week, hoping for rather more resilience at the mine site than last year..........

[the legend1] 14/10/2016 15:17

if you look there have been a few large buys over the last few weeks.
all looks good to start the rise now.
this will be a long hold for me.
one of only a few on aim that will be turning out a divi very soon.
will also move to the major markets soon.

[wiseacre] 14/10/2016 12:51

The following on Share Prophets site:

The political clouds are lifting over Philippines gold miner Metals Exploration (MTL). The Manila Times reported last week that the Runruno mine has been granted permission “to start full commercial operation before the end of this year after it has complied with the necessary corrective measures”. And the tough new Department of Environment Secretary, Regina Paz Lopez, is quoted as saying that the Bureau of Mines, when granting the company its certificate had proved “a way to identify responsible miners.” With her imprimatur investors can afford to smile.

All that remains is for the company to secure permission to sell the gold it has already produced while it continues to ramp up production. With all bureaucratic issues resolved the banks will be happy to extend the group’s $83 million debt facility.

The newspaper report explains that, “the project was approved by the Provincial Board (Bureau of Mines) after it was endorsed by the host Barangay Runruno and the local government of Quezon following more than five years of exploration and community development activities in the area. With a capital cost of $149.3 million and estimated average annual operation cost of $46.2 million, FCF Minerals (Metals Ex’s Philippines company) targets 96,700 ounces per year over a mine life of 10.4 years.”

I expect the company to confirm the good news next week. The share price should quickly bounce back to the 10p level it touched last July before suffering under the burden of the political uncertainties, the hiatus over its bank loans and the need for two emergency share issues, funded by its the four largest shareholders, in order to pay its 500 workers.

The management is mindful of the loyalty of its remaining long suffering shareholders and could take on a new broker, since it will have no further requirement to hide its light under a bushel. It will after all be one of the world’s lowest cost gold producers. Average down/buy.

[the legend1] 08/10/2016 15:01

yes,looks very promising now,just a case of waiting.
seems a few nice large buys here over the last few day.
get that debt restructuring done and this should start the rise.
small chance of dilution if things take a little longer,but that will be done with the main holders again, as they passed the vote at the AGM, it would be just a case of what price they will take the shares at, if the need arises.

[wiseacre] 05/10/2016 11:35

Yes i attended the meeting. Management very conservative and very straightforward. This is the crunch month. The political and bureaucratic hurdles are immense but the company has done everything it has been asked of. Production has been going swimmingly well. Just waiting for the final permit to sell the stuff. It is held securely. Cost of production still attractively low. Everything will fall into place with the banks once the green signal is given by the Mines and Geosciences Bureau

[achillesheel] 05/10/2016 11:13

Did anyone go to the AGM?,

[hutch_pod] 30/9/2016 13:29

Just fyi on AISC, as i've seen a couple of numbers offered. share price angel say today:

"The team has come a long way to commission low cash costs (AISC sub-$600/oz) Runruno gold project with first cash inflow from gold sales in sight. Hopeful of successful debt restructuring talks completion we are looking forward to an orderly Runruno ramp up unlocking attractive FCF generation capacity of the mine."

Any thoughts most welcome.

[danny500] 30/9/2016 09:25

results out, anyone going to agm next Tuesday?

[the legend1] 16/9/2016 12:50

hi all
i have bought in here a few days ago.
have to say after reading share profits.
looks a little risky, but risk reward looks well worth it to me.
good luck

[cyberbub] 13/9/2016 17:44

Assuming Duterte doesn't go mad and nationalise all the mines, and that the fold starts rolling out on schedule, what do people think is a realistic target for 12 months time - perhaps 20p?

[wiseacre] 12/9/2016 17:09

Lord Badger you seem to have a metier as a sub-editor. Most of what you say makes sense. TW's output is full of literal errors such as million ounces for thousand ounces and other exaggerations but we should be grateful for small mercies. At least it wasn't the usual wrecking exercise!

Without doubt Duterte runs a populist government not friendly towards foreign investment and the bankers are nervous. Furthermore, it is true that when the shares of MTL were trading at 40p, a few years ago, there were far more private investors. To me the shares look high risk and high return and, the present price, ahead of further promised announcements, look like they offer a good opportunity for appreciation.

[rupert1] 12/9/2016 14:06

Ian Holzberger has been conservative with his predictions todate, and as he has announced to the market that the first sale dore is eagerly anticipated in September 2016, I expect he is going to deliver.

I see someone picked up £110k stake today at 6.50p. Let's hope it's not TW!!!

[lord badger] 10/9/2016 15:56

Giant, I think wiseacre was referring to Share Prophets having got the hedge wrong. The article states 90 million oz when it's actually 90 thousand oz over three years, or the term of the loan. Unbelievable that they also got the cash cost wrong as well and made no mention of the fact that it is just a cash cost, which by its very nature means there are costs on top which affect profitability. For a blog which purports to be be helping investors, it does a pretty good job of misleading them.

Hol, if it is an export/shipping permit which is holing things up, and I've not heard anything to suggest this, there is always the possibility that it's one that can't be applied for in advance. Ian did mention that quite a number can't be and there's simply no way of shortcutting the process. I think the current delays stemmed from the earlier permitting process, the problem with tut mill and the time it's taken to bulk up the Biox.

I wonder whether Gina Lopez' special, one-off mine audit is playing a part here. The company has made no mention of it and I've read that it's on top of and not simply satisfied by the ISO14001 accreditation the mine has recently received. What exactly this audit comprises appears to be a little grey - see philstar.com, keyword search ISO14001.

[giantpeach2] 10/9/2016 10:59

In the post from wiseacre a 100,000 ounces was clearly there to see.
It has promised an annual production of just over 100 thousand ounces!!!.
Nothing about 100 million

[holism] 10/9/2016 08:21

LB well done, I do read as much as I can to see if I have missed something, I too go to AIM AGMs which are often poorly attended. Sadly I missed MTL's, but from what I gather the management team are honest hard working and extremely professional. I have every confidence in their drive and ability to get the job done. However it never ceases to amaze me how many permits are needed and why they are a surprise when most needed. Surely the export/sale of gold is an extremely important permit yet this delay has lead to two issues of further shares and the difficulties with the banks.That apart I am hopeful that ramp up will be quicker than the three months indicated and the final output nearer 140K than the 100k published. If all goes well-what next??

[lord badger] 09/9/2016 14:38

Share Prophets is staffed by schoolboys who are renowned for not checking their facts. Even when the information they are reporting is freely available they seem to be able to get it wrong. The site is nothing more than an amateurish blog, which somehow manages to charge people for access. It lacks insight, fails to understand financials and goes in for cheap sensationalism. Plus, the lead editor appears to record podcasts under the influence.

To say that Gina Lopez has an "ideological hatred of the industry" is very misleading. Anyone who takes the time to read a little bit about her will see that she's not against mining per se, she's just in favour of responsible mining; ensuring high environmental standards, protecting local communities and workers' rights, etc.

And if you take a look at the circumstances surrounding the mining suspensions issued by the MGB since she took over, there are obvious causes for concern: nickel contamination of local water; unsystematic strip mining practices; levelling of a mountain with zero rehabilitation programme.

Personally I can't see she's doing anything that a UK Secretary of State wouldn't do to protect our own green and pleasant land. Some mining companies do play it fast and loose in under-developed territories where regulation is lax. However, when pulled up, and told to raise their standards to the level expected in their homes countries, it can look like an anti-mining crusade, but in reality it's just a levelling of the playing field.

I think that MTL's focus on high environmental standards and its corporate and social responsibility will pay dividends now, quite literally. To paraphrase Ian Holzberger at the last AGM, Runruno standards are high even by domestic Australian standards.

One final thing, where did Share Prophets' writers learn to write?

"Metals Exploration – A golden dawn really due to break [headline doesn't make any sense]

An aborted attempt to take the company private, typhoons, a nightmare fear of political intervention [a nightmare of fear, really] and nervous creditors threatening to pull the plug [pull the plug, really, where did they hear that?], there has been little left to the imagination for shareholders [what does this actually mean?], or what’s left of them [really, I've not noticed a mass exodus], to endure [how does this part of the sentence follow on from the last? 'there has been little left to the imagination'…'to endure'] at Metals Exploration (MTL)." Utter tosh!

[cyberbub] 09/9/2016 11:06

I think Tom W has got a bit confused, I don't think the mine is due to output 100 *million* ounces? LOL

[lord badger] 08/9/2016 18:49

Cyber, there is an agreement in place, the FTAA, which allows the company to off-set mine costs, which are around the $200m mark. "Tax holiday for up to 5 years following commencement of production until Metals Ex has recovered its pre-operating expenses and investment".