Metals Exploration Share Discussion Threads

[wiseacre] 21/12/2017 15:36

I am one of the buyers.

[wiseacre] 21/12/2017 15:26

Cheapest gold producer by a mile. That's why. Set to double on next quarterly trading statement IMHO!

[giantpeach2] 21/12/2017 15:06

whats with the sudden rush of buys!!

[meijiman] 13/12/2017 09:46

Got to agree. Time for the incumbents to step aside from this gravy train for life.

[seemore] 13/12/2017 09:30

Unfortunately the 29000 ounces is the contained gold in the ore mined to date this quarter.

There is no figure given for production to date this quarter or now expected for the quarter. But given that Q4 started slowly and is ending slowly I cannot see production being much more than the 9000 ounces in Q3. Maybe we will breakeven?

All aspects of the mine, except BIOX recovery, seem to be working at or above design and the grade is also as expected. If recovery was also at design the mine would be making good profits and paying off the debt to schedule.

What makes this so frustrating is that there have now been two BIOX failures caused by "operator error". This is really a failure of management to design operating processes that are failsafe. Even now, the whole mine is not protected from further operator error. So the owners and shareholders are travelling in hope, which is not good enough.

The time has definitely come to replace management. The risk of losing the mine to the banks is too high to continue as things are.

Can somebody better organised than me, post the current repayment schedule, both for the original debt and for the mezzanine finance? TIA

[don julian] 13/12/2017 09:17

Will there be enough gold sold to pay the debt installment at the end of December?

[achillesheel] 13/12/2017 08:57

yep, that's what I took from it 29,000 ounces of recovered gold from the last quarter, and that's peaking at up to 75%, what was the original forecast 100,000 per annum, as long as they can get past these processing mishaps which the latest seems to have been an operating error then it should be blue skies.

Agree Rupert pulling in 40,000 ounces per quarter would be some good going 40% improvement on original estimates, but for now i'm happy with the update we appear to be going the right way.

[rupert1] 13/12/2017 08:49

The BIOX saga continues. However the fundamentals look quite encouraging. In the past 2 months and a week before the problem, MTL have recovered 29,000 ounces. That was with recovery rates peaking at 75%. Without the BIOX setback and with a more consistent recovery rate, the quarterly figure might have been closer to 40,000 ounces. And that is well ahead of target. Even at 29,000 ounces for a full quarter, it is averaging 116,000 per annum. Ifs and buts. . . .

[achillesheel] 29/11/2017 22:29

It's only what has already been released to market though, the mgb are quite quick at getting the quarters production rates out so maybe some indication prior to then if we dont have an rns from mtl.

[giantpeach2] 29/11/2017 12:30

Ok cheers for that!

[don julian] 29/11/2017 09:23

When BSRT give their monthly NAV around about the 6th of each month they sometimes comment on progress at MTL, which is one of their larger investments.

[giantpeach2] 28/11/2017 16:50

Will we not get a update on how plant etc is all working before that!!

[achillesheel] 28/11/2017 15:42

Whenever a few sells drop the share price there's a buyer scooping them all up, 590K taken earlier, 8 weeks to go until results.

[giantpeach2] 10/11/2017 08:54

Well said achillesheel.

[achillesheel] 09/11/2017 23:59

He got the new appointed broker spot on quite a while before it was released to market so in my view he has more credibility than most, why would the company not survive they have met all their banking covenants, permits are all in place now including magazine storage, biox was at 27.5% on 30th September so barring any issues there is high chance that throughput has increased over the past six weeks.

If you are purely a fundamental investor then maybe aim isn't for you, but then again you are not even invested in this stock so i have no idea why you keep popping back with broken english to repeat the same comments without even offering any new facts to support your bearish stance.

[achillesheel] 09/11/2017 22:00

Seems you have a stalker wiseacre he's just been waiting all this time for you to post.

[jailbird] 09/11/2017 21:23

Hope not source is not the same as the last 12 months

[wiseacre] 09/11/2017 10:46

My source is good jailbird but I am sure you don't want me to end up in chokey whence you came!

[jailbird] 08/11/2017 21:45

"Word from the Philippines"

come on...you can do better than that

[achillesheel] 08/11/2017 21:28

Could be the reason for that 800k buy but until i see it in an rns i dont want to get my hopes up only be dashed again.

[forevernever] 08/11/2017 20:26

I would like to believe that but with so many set backs I am not holding out. I would have also expected a little more positive response to the share price too...

[giantpeach2] 08/11/2017 17:26

Lets hope so, would be nice to see a bit of good news. I think we deserve it!.

[wiseacre] 08/11/2017 15:34

Word from the Philippines is that the Biox is working at over 50% capacity and mine now producing at a rate of 6000 0z a month.

[giantpeach2] 27/10/2017 12:20

Chunky buys this morning!!!!