Metals Exploration Share Discussion Threads

[peterpowell21] 17/3/2017 10:12

The mining sector contributes an estimated 70 billion Philippine pesos ($1.39 billion) a year in revenue.

1.2 million people depend on mining for their livelihood.

who need money and jobs.
only the great unwashed.
the elite dont care, they live in another world of luxury homes and fine dinning.

[jailbird] 17/3/2017 09:29

I sold my lot yesterday So good luck all

[cyberbub] 17/3/2017 09:25

I heard on another board that Duterte is now considering banning all mining in the Philippines, paranoid about the companies 'undermining' his power (pun intended) for some reason.I did say a few months ago that making investments in 3rd world countries is risky enough in itself, without having those countries run by a clinical psychopath.All the best (genuinely) to people brave enough to invest in MTL... not for me while Duterte is in charge...

[parsons4] 16/3/2017 17:32

peterpo....been there a few times a really nice place. You have the Spanish weather but a bit more rain and greenery to remind you of England !!!

[peterpowell21] 16/3/2017 15:36

wiseacre

i have no idea how difficult it is doing business in philippines.
I just invest in companies, i leave the rest for those so called expert that get paid a great deal of money doing there job.

i do know it seems to rain a lot in the philippines.
and turning those corners can be treacherous when it starts to rain. It can knock you right of track.

i live about 25 miles north of benidorm, a lovely place on the coast called Moraira.

[wiseacre] 16/3/2017 14:55

My dear boy, if it never rains it pours. Furthermore, I suggest you follow the advice of president Harry s Truman: "if you can't stand the heat get out of the kitchen". Stop whingeing. I am off to Spain myself at the weekend. Whereabouts are you PP? By the way, open your eyes. Do you have any idea how difficult it is doing business in the Philippines?

[achillesheel] 16/3/2017 11:17

We just don't know, the company could be deliberately downplaying the situation due to the political situation, the whole Ayre buying could have been a pre-cursor to get the volumes up to allow Ruffer to dump more, whether this was on inside news but do agree with the weather comments surely the climate was a massive factor in designing the plant and working procedures etc but then how do you plan for a month's rainfall in one day?

At least we know that the equipment is working to standard "Mechanically both the mining fleet and the processing plant have operated soundly".

All that aside I'll continue taking more on any drops and when funds allow as the risk reward is too appealing, the candy's know the end game here, 47% of the company and trying their hardest to take it private must be something worth having.

[peterpowell21] 16/3/2017 10:54

wiseacre.

These bb are for discussion, just because people want to vent there opinions on how poor the management have gone about there job does not mean they should sell up.
You are a supporter of the management that is your opinion.
I believe that too many times management get away with murder. They take there nice pay checks for years, while investors lose money year after year. So i would say,instead of always hearing sell if you dont like what is going on. Why not sake the people who are not doing there job.

If you employed me to build you a block of 10 houses, and ten years latter having been very well paid, i had built you not a block of houses but just one would you not sack me. Or would you just go back to your shareholder who have been paying my wages and tell the to sell up if you dont like the way the project is going, as i am doing the job to my best ability.

[peterpowell21] 16/3/2017 10:32

something does not seem right here.
this sentence from yesterdays RNS.

Metals Exploration announces that it intends to commence quarterly reporting of the activities of the Runruno Gold project commencing Q1 2017, by 30 April.
(rain permitting) lol

So why are they going to start reporting from April.
They have told us that they are still ramping up so very little gold is being produced. quarterly reporting is normally about production.
At the end of this month they have a loan payment to meet. This is price sensitive news. Do they not have to report if it has been paid or not? Same as any other news that is price sensitive, they cant wait till the quarterly update.
So why start at this time to give quarterly updates if there is next to no production to report on? Why not wait another 3 months when hopefully they have started full production and have something to report.
Are they suddenly going to start full production in the next few days and have a full months production to report on.

[wiseacre] 16/3/2017 10:25

It's no good beating yourselves up. It is usual for a mine to take ten years to get into production from discovery. We are quite near the end game now. the company has appointed a new broker. One of the directors has bought £250,000 worth of shares at 5p (a founder of Ruffer). The company has promised to report quarterly with first quarter results by 30 April. Given the political situation and the bureaucracy the management has to tread very carefully and they have done everything by the book. The heavy rain was a fact and they cannot be blamed for the delays. I have a large holding and believe the risk reward ratio is very high. I don't think another placing will be necessary. I am sitting tight. Those who don't have the stomach for it should sell up.

[jailbird] 16/3/2017 10:23

That conclusion is nothing but IFs and BUTsIt always an IF not WHEN.The company has given no reassurance or confidence in its RNS that it will meet debt paymentWhy would an investor than have confidence then?Keep looking through the rose tinted glasses and keep speculating

[achillesheel] 16/3/2017 10:08

piece from proactive for any interested:

Mining and processing operations are reported to be ramping up slower than had been forecast on the back of “a prolonged period of incessant rainfall and other factors which have restricted the effective mining of waste materials”.

• As a result the grade of the ore delivered to the plant has been lower than expected.

• The Company will start to release quarterly updates with the first one covering a Q1/17 review expected to be out by 30 Apr.

Conclusion: A brief update on the Runruno operations provides little detail on the scale of underperformance relative to budgeted levels and complicates the assessment of the impact of the news. Successful ramp up and running the plant at planned grades, throughput and recoveries are essential in meeting a revised debt repayment schedule with $10.7m and $13.0m due in H1/17 and H2/17, respectively.

On our numbers, assuming throughput and grades improve through the year and reach 80% of 1.75mt capacity, ore grades hitting budgeted 1.95g/t and recoveries showing 90%, we expect the Company to meet its debt repayment obligations. Q1/17 update is likely to provide more information on the progress at Runruno and where operations stand at the moment.

[achillesheel] 16/3/2017 09:18

Metals Exploration turning corner at Runruno.
Seems there was rain a little further round that corner, and they came skidding of the road.


lol :)P

[peterpowell21] 16/3/2017 08:20

29 November.
Metals Exploration turning corner at Runruno.
Seems there was rain a little further round that corner, and they came skidding of the road.

Is this a plane to get the large holders another chunk of diluted shares at a nice low price? They have already tried to take this private once.
They are so close to the pot of gold, they seem to have stopped at crossing that line.
In my opinion they now want all or as much of this company for them self.
PI's always get screwed in AIM. looks more like they are trying to do that here.
AIMO
PS They will not shake me out. I will be holding for the rewards, takeover, or bust.

[jailbird] 16/3/2017 08:01

That is the point , rain is not a new phenomenon for a tropical region is it. Every time they miss targets because of mismanagement , you cannot blame the weather every time.It always rain in that region... that is just nonsense

[peterpowell21] 16/3/2017 07:50

wiseacre

i think sometimes you are to friendly with this management.
as for saying they have done a terrific job.?
sorry you need to look at the share chart for the last 10 years.
How long have these people been in charge of the country, 10 years?
You cant blame rain if thats not the case.

This is fake news. And you and I know it.
Rain, come on.
They have been de bugging and ramping up for 9 months.
Has it been raining for 9 months. NO.
They are digging themselfs a hole.
AND they dont seem to know how to get out of it, its just going to get bigger until they come out with the truth. Silence is not the way to go.

[achillesheel] 15/3/2017 20:34

From the response I got it would appear that the problems are having a knock on affect across the mining industry and as badger said before everything is being played down

[jailbird] 15/3/2017 20:25

I have a conflict about LopezNickel mining ban is good news for Nickel pricesI am invested in this sectorJust happens MTL are in Philippines but a gold play though

[achillesheel] 15/3/2017 20:13

Hopefully lopez won't get reconfirmed by the CA and the immediate issues can be resolved or the mining companies involved can put forward some sort of resolution to the presidents office

[jailbird] 15/3/2017 19:23

That is very true Wiseare,However I just do not believe them anymore ... sounds like a broken record nowTell will they make their payment commitment ?They could have quite easily reassured the market but they haven't the Company's silence about matters that should be updated upon is big clue when news will not be good or as expected

[achillesheel] 15/3/2017 19:19

The other factors referred to in the rns is the current political situation within the philipinnes

[peterpowell21] 15/3/2017 16:47

i have to say that this management must be very near the last chance saloon,with the very large holders here.
They are losing a fortune here, so their patience must be near the end by now.
there is only so long you can keep paying someone for not getting results.

[gisjob2] 15/3/2017 14:02

Todays RNS might not be the end of the world but what about the payment that is due ? Has the company got this covered ?