Metals Exploration Share Discussion Threads

[peterpowell21] 25/6/2018 16:17

are you on drugs?
Sorry i see you are talking about the dog known as vog.
But i have to tell you, you are on the wrong bb.
lol.

[dianecarberry] 25/6/2018 14:19

What price the next placing to keep the lights on ?


I'll got for 2p

[dianecarberry] 25/6/2018 14:19

have you seen the share price today again.
Down again.
Have a good laugh at that.

[wiseacre] 25/6/2018 13:42

A million shares changed hands today at 3.4p further suggesting someone is standing in the market taking any stock offered to them.

[davegk] 22/6/2018 16:03

Wiseacre it a shame I didn’t know you were at the AGM it would have been great to meet.

A few more points from the AGM

IAN made the point that the BIOX recovery was a process and that because of this when talking about recoveries he had to use an average figure over a period of time.

When he said that the BIOX had achieved 100% over a period of time, not every day would be at 100%, some days it would be below and other days above 100%, but the average over the period was 100%
He also said he was surprised by how robust it has been.

He was asked about current recovery rates, but said he couldn’t give us any information without first informing the market and they were committed to giving quarterly reviews and that’s what he intended to do.

The mine life remains at 10 years, even after a year mining. This is because they are finding more gold in the area that is being mined than was forecast.

Ian said that it would be relatively easy and cheap to get 120% out of the processing plant. For instance he said they had been looking at a brochure of a mill, it would cost about $120k, with another $200/250k to get it online. Having a second mill would also improve the reliability of the process plant. He said they might buy the mill and put it in a warehouse (presumably until it could be usefully deployed)

Ian said that now they could see the light at the end of the tunnel (his words), the board was starting to think beyond the immediate problems. If they were going to produce at higher output rates they would need to find additional gold to replenish the reserves in order to maintain the mine life. To which end they would be doing some drilling in areas where they knew there was some gold. One of the areas was near to the existing pit bottom and it would require underground mining, which would be no bad thing because of the hostility towards opencast mining in the Philippines. They would start this exploration drilling when they are operating at 100%.

[fatnacker] 22/6/2018 15:57

I can buy 100k @ 3.4p, I wouldn't though.

[sleveen] 22/6/2018 14:26

Those 3.36p trades are sells.

Do a dummy sell/buy and see what price you're offered



Been offered 3.5p to buy 60k shares

[rduke] 22/6/2018 14:16

Wise, according to his LinkedIn profile, Ed Simovici is the European based Candy NED. Looks to be an accountant. Romanian.

[wiseacre] 22/6/2018 13:07

One other thing Holzberger said, in reply to a question at the AGM, was that he had appointed a COO so that he could spend more time on investor relations. I think he is going to be busy post quarterly results next month. Confident of an uplift in the share price The purchase of stock by the Philippino NED, a few weeks ago, is also encouraging.

[rduke] 22/6/2018 11:48

Lotsofloss, I don't think there is a missing 6 weeks of data - perhaps 2 at most. I think the 100% throughput for 6 weeks mentioned by wiseacre was just a sneak peek at the first part of the current quarter to give the agm attendees and bit of feel good factor. The quarterly report does say they hit 100% roughly 2 weeks in to the current quarter, so around the 16th-19th April. Add 6 weeks to that and you end up around the beginning of June. The agm was on the 19th and say they compiled the presentation the week before. Thats perhaps 2 weeks. Personally I dont think its at all significant.

[rduke] 22/6/2018 11:18

I don't think you can make any assumptions about gold produced in this quarter, with or without the missing 12 weeks. Reading March 31 update, the throughput percentage is different to the recovery percentage. Having just gone on a crash course on Biox there doesnt appear to be a standard correlation between the two. So all we know is that they've achieved 100% throughput for 6 weeks of the current quarter but have no recovery percentage for the same period. The report states that they are building onwards design recovery. Where there or not they do it in the current quarter is another question.

[wiseacre] 22/6/2018 10:27

Someone is standing in the market picking up stock at 3.36p (as they used to say in the old days)

[lotsofloss] 22/6/2018 08:37

PP21 - apologies that is my error, it should be 12 weeks not 16, so the missing period in the quarter is 6 weeks. The calculations are based on 100,000/52 x 6 it’s very basic! I am not sure you have understood the logic in your initial response but but then you get to it in your second response ie that this 6 weeks must have come in Q2 18. My initial question about this missing 6 weeks - and I suppose taking the statement they made that you have kindly set out above - we know it was 100% at the start (ish) of Q2, so was any mention made about what happened to cause this drop or how bad was it?

[sleveen] 22/6/2018 08:17

I did pickup on the 6 weeks and as you say pp21 that starts from about mid April presumably thru' to end May. So perhaps a bit of adjustment of the other plant for a week or two?

[peterpowell21] 22/6/2018 08:08

We were informed this on the 20/4/18

subsequent to the period end and within
the last week, the Company has achieved and maintained 100% design throughput
at its BIOX(R) circuit. While clearly early days, this is a significant achievement for the Company and maintaining this level of throughput will facilitate achieving higher gold recoveries.

As we had not achieved 100% before i take it the 6 weeks have come all in this quarter so far.
So looking good for a much better performance in q2.

[peterpowell21] 22/6/2018 07:26

lotsoffloss

it is stated that the 6 weeks is for the year to date.
We do not know yet how it has run for this quarter.
But it ran at 100% for some of this quarter, it could have run at 90-95% for the remainder, or it could be 50%. so until we get Q2 update we will only be guessing.

But your calculations on times are way off. they said post Q1 update the plant had run for a week at 100%,so that is from 1st april. So for the complete Q2 when reported we only have 12 weeks, so where do you get your 16 from. There would also have been 2 weeks to run in this quarter also.

Also where do you get that 11,500 oz would be produced in 6 weeks?.

[lotsofloss] 21/6/2018 17:54

I just wanted to see if anyone who attended the AGM could answer the below or whether or not the question was raised: The 31 March 2018 production update states that 'post 31 March 18 the BIOX circuit operated at 100% design capacity'. In the AGM pack it states that 'for a 6 week period BIOX operated at 100% of design capacity'. Based on the information given in the 31 March 18 production update this '100% period' occurred solely after 31 March 18, which means that based on what we have been told, out of the 16 weeks (give or take) from 31 March 18 to the AGM there have been ten weeks where BIOX was below 100%. Was any mention/explanation of the missing ten weeks given? On the plus side, and assuming all the other bits were working, based on a design capacity of 100,000 oz per annum it should mean that there are at least 11,500oz(ish)produced in the 6 weeks.

[dianecarberry] 21/6/2018 16:37

a rerate downwards yes

[giantpeach2] 21/6/2018 16:30

Someone likes it and has added 200k
Will not be long now until we get a re-rate.

[dianecarberry] 21/6/2018 15:52

In your dreams prowler.

[peterpowell21] 21/6/2018 15:38

Looks like they have the capacity to be doing 125,000 ounces of gold a year when they get to full capacity.
With buyers queuing to buy it.

[dianecarberry] 21/6/2018 15:14

presentation is 100% pure hot air as always

[peterpowell21] 21/6/2018 15:09

the presentation is on the mtl web site now.

[sleveen] 20/6/2018 08:28

wiseacre thanks.

Looks like the BIOX circuit is up to spec....great news.

[tombarr] 19/6/2018 23:18

Thanks for the update - 100% is the key. Regards, Tom