Share Name Share Symbol Market Type Share ISIN Share Description
Metminco LSE:MNC London Ordinary Share AU000000MNC7 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.075p +17.65% 0.50p 0.40p 0.60p - - - 0 07:30:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -26.1 -21.0 - 4.56

Metminco Share Discussion Threads

Showing 7226 to 7249 of 7250 messages
Chat Pages: 290  289  288  287  286  285  284  283  282  281  280  279  Older
DateSubjectAuthorDiscuss
24/7/2018
07:49
Taken from Marcs11 on the hotcopper site. http://www.valuethemarkets.com/inde...son-colombia-hunting-gold-shares-re-rate-mnc/ At just 0.55p a share, Metminco (LSE:MNC) has so far struggled to capture the market’s imagination since refinancing, shaking up its board, and shifting its strategic focus onto Colombia earlier this year. With the business expecting drill results from a potentially gold porphyry-bearing prospect in August and concluding negotiations on two more sites, could now be a good time to get in ahead of a news-driven re-rate? Here, Metminco’s executive chairman Kevin Wilson tells us what Colombia has to offer and how the firm plans to make the most of it. New Steps Since Wilson, an experienced geologist, joined Metminco in March, the business has undergone a strategic shift away from mine development and onto exploration. Specifically, it wishes to demonstrate the potential of its Colombian gold exploration assets. It is also freeing up additional cash by reducing operating costs and financial liabilities. Indeed, it has already reduced the size of its board and is looking at ways to divest its two non-core assets in Chile. A significant development came in April when Metminco carried out a AUD5.6m (c.£3.1m) rights issue. After paying off most of its creditors to limit debt exposure, the company was left with around A$3m (c.£1.6m) cash to launch a high impact exploration programme in Colombia. Wilson told us the rights issue was crucial in enabling Metminco to pursue the first steps of its new strategy: ‘The success of April’s rights issue has given us the funds to begin our exploration strategy and get our foot in the door in an area with real potential.’ Emerging environment Metminco’s 100pc-owned Colombian assets are collectively called the Quinchia portfolio and found in the country’s prospective Cauca Belt. The area hosts more than 60Moz gold and is home to many large gold porphyries, the best known of which is perhaps AngloGold’s 28.5Moz La Colosa deposit. Economically, Colombia is currently in a sweet spot, boasting 4.7pc GDP growth a year in the decade to 2017. It also contains plenty of infrastructure and massive gold reserves. However, it has been historically underexplored thanks to decades of political instability and warfare. Thankfully, this appears to be changing, with Colombia’s government and its largest rebel group, FARC, signing a landmark peace treaty in 2016, majorly reducing security risk. Things took another step forward in June this year when the country’s presidential election managed to pass without any violence, with social conservative Ivan Duque emerging as victor. According to Wilson, political developments like these represent a visible step change in Colombia’s stability as an operating environment. He told us: ‘When you think the country is coming out of a very long era of conflict and polarisation, the fact that nearly everyone accepted the result of the election is a credit to the nation, its democratic institution and the steps forward they have made. I look forward to seeing this continue.’ The positive implications on Colombia’s mining sector can already be seen, with the country taking in$10bn of foreign investment last year alone. With the government planning to expand port and railways by 2020 as part of a $70bn mining infrastructure program, the good times are primed to continue. Drilling programme The first stop in Metminco’s exploration drilling programme at Quinchia is a prospect called Tesorito. Three holes drilled by the prospect’s previous owner intersected more than 250m of anomalous gold mineralisation and found higher levels of copper and molybdenum at depth. At the start of June, Metminco began a 1,500m diamond drilling program at the site with the hope of confirming and expanding these intersections, to identify a gold porphyry system. Given the nearby presence of many large porphyries, Wilson is hopeful that assay results from the drilling at Tesorito – expected next month – can trigger a positive re-rate in Metminco’s shares. With a tranche of his performance shares vesting on the delivery of 1MMozs gold from the site by December 2019, a lot is riding on him being right: ‘Previous results suggest there is a lot of gold in the system at Tesorito. We are essentially following up these results which were delivered by the previous owner. At the moment, this is not at all priced into our share price so delivering early drilling results here could get us noticed.’ The second prospect that Metminco plans to drill this year is Chuscal. The opportunity is a significant gold porphyry target that features a large, undrilled gold geochemical anomaly based in an area where artisanal mining has already unearthed encouraging channel sample grades. As it stands, Metminco is in discussions with the current owner to formalise a farm-in/JV agreement over the site and exploration drilling is not expected to begin until later this year when these talks have completed. Based on the value of existing porphyries, Wilson is encouraged by Chuscal’s potential. He believes the site could house a ‘ large deposit’ that may end up being transformational for Metminco: ‘A similar porphyry in Ecuador has an asset value of $1bn, so that is the sort of potential you can get if you hit the right discoveries, and we already know there are a lot of those in this region. Chuscal is about 50km north of AngloGold’s La Colosa porphyry deposit, in the same belt, and not too far from another called Marmato, which contains 8.6Moz gold. These properties can be worth $500m to $1bn. What’s more, because the gold is at surface, the cost of drilling is modest. Chuscal could be a key part of Metminco’s future story.’ Miraflores Metminco will also continue permitting work for its Miraflores project at Quinchia, where it is investigating options for gold production from a proposed mine site. The project contains an 840koz measured and indicated gold resource at 2.8g/t and a 457koz proved and probable gold reserve at 3.3g/t. A DFS completed at the site in late-2017put production at 45koz per year for 9.5 years, giving it an NPV(8) of $72m and all-in sustaining costs of $643/oz at $1,300oz gold With local law requiring a plan of work (POW) and environmental impact assessment (EIA) before work can start, work for gaining these permits has occurred this year. In January, Metminco submitted a work plan for mine development approval to the Colombian Mining Agency. Wilson argues that Miraflores’ resource provides investors with a degree of downside protection. As he put it to us: ‘If you look at any valuation of Miraflores’ resource, you can come up with a number that is in advance of Metminco’s current market cap, and that is without considering cash or giving any value whatsoever to the upside at Tesorito and Chuscal that drilling should produce.So,you have that protection of value as you’re buying in cheap and the potential for a re-rating over the short term- as we have only recently shifted our focus, our story is still becoming known.’ Time for a re-rate? With Metminco’s market cap sitting at just £5m, Wilson’s point about value protection has merit –the resource figures and data released about the business’s assets do not seem to be holding much sway in the market at all. If his instincts turn out to be correct, then it could be sat on two sizable gold porphyries in Tesorito and Chuscal, whose value – based on nearby discoveries – would make its current market cap look paltry. If they turn out to be duds, then Miraflores isn’t even being fully valued into shares based on the company’s calculations. Although it is likely that Metminco will have to raise cash at some point to continue its development, short-term newsflow could make it worth considering a punt at the firm’s current price on the expectation of a re-rate. Author: Daniel Flynn Disclosure: The author does not hold positions in any of the stocks mentioned above Share the knowledge!      
christy41
19/7/2018
09:41
Very lively over on the hotcopper board and share volume increasing significantly.
christy41
16/6/2018
10:29
Yes, I am.
the count of monte_cristo
15/6/2018
08:55
Kevin Wilson presenting from the recent Mining 121 in London mid May 2018. https://youtu.be/y_h8bykrumc
christy41
14/6/2018
12:28
AS$ 8.2 million. You still invested TCMC.
christy41
14/6/2018
10:59
What is the market cap of MNC now? WH, what an idiot, I told him via email about 18 months ago to getting drilling at Tesorito as this would add excitement and interest to the stock and if the grades were good it would positively impact the sp, which would then mean that they could raise cash at a better price for shareholders. He told me that they were just focusing on Mira. Didn't work out well for him or any of the shareholders.
the count of monte_cristo
31/5/2018
09:40
A bit of an MNC write up from a couple of days ago. https://www.nextsmallcap.com/cashed-micro-cap-hunts-gold-colombia/
christy41
29/5/2018
07:57
Let was looking at PFP for quite sometime but never get in.Might see a bit of movement today here. Good to hear all is well.
oilbuy
17/5/2018
08:10
Have a look at PFP Oilbuy, still a binary bet, but looking healthier since 9th May RNS
melodrama
17/5/2018
08:09
In now, mixing it up with Newfield, interesting IP anomaly
melodrama
17/5/2018
08:04
Very well thanks m8, hope you the same, I need to get up to speed on MNC, ffin website in aus seems to contain Malware! Malware Bytes won't let me in lol
melodrama
17/5/2018
07:52
Lanstead back with 59M shares though ?
oilbuy
17/5/2018
07:51
Hi Melo how are you pal ?
oilbuy
17/5/2018
07:15
Looks like it may have finally bottomed, on my watch list it goes
melodrama
05/3/2018
19:05
Chesycustard,Looks like your post 363 probably hits the nail on the head... Did you get a reply ref options
christy41
05/3/2018
18:10
But why put the 15th March as a record date for UK holders? Not made very clear with regard to taking part
christy41
05/3/2018
17:56
People with UK address cannot paricipate. Confirmed.
chesycustard
05/3/2018
14:45
Yes, it very well could be, I don't know La Colosa at all actually.
novicetrade68
05/3/2018
14:39
I always thought the objection for La Colosa was because it was to be a very large open pit mine.
christy41
05/3/2018
14:15
I think this is the reason why the market currently does not rate the Colombian gold project: 'Whilst we have not specifically accounted for this in our discount rate, we also note that in April 2017,AngloGold Ashanti announced that it had suspended mining at its La Colosa gold mine, which is located in the Cauca gold belt (where the Miraflores Project is located), after a local community voted to ban mining in the area due to environmental concerns. Specifically, we note that a constitutional court ruling made possible for a referendum voted by the local community to overturn the Colombian central government’s authority over mining project.'
novicetrade68
05/3/2018
14:04
All sounds a lot desperate here. Howe has probably milked this as far as he can and will hand over the demise to sophisticated vultures to finally pick it clean. Glad I sold out a while back even though it was at a loss but at least I saved losing even more. He needs to be brought to account but doubt that will happen as corruption is the business norm.
digger2779
05/3/2018
13:41
I am sure we/you can as UK holders..
chesycustard
05/3/2018
13:26
from RFC Ambrian a little while ago. MNC : AU | A¢3.9 | US$3m | Speculative Buy Announces Rights Issue and Restructuring Metminco (ASX:MNC) has announced that it is to undertake a significant restructuring that will include a rights issue to refinance the company, a change of leadership (including a new Board and executive team) and the re-focusing of the company on the exploration of two high-impact targets — Tesorito and Chuscal — near its Miraflores gold development project in Colombia. COMMENT: The restructuring will result in changes in both the direction and leadership of the company. Until recently Metminco had been focused on the development of the Miraflores gold deposit in Colombia, where it announced the results of a feasibility study in late October 2017, and at which work for the completion of the EIA remains ongoing. The current move is to test the large-scale, high-potential Tesorito geophysical anomaly; prior drilling intersected 384m grading 1.0 g/t from surface. This has the potential to generate some much-needed excitement around the company. We continue to recommend Metminco as a Speculative Buy. The company plans to raise A$5.1m though a deeply discounted 7 for 2 rights issue at A$0.01/share and to raise A$190,000 through a placement at the same price. Each of the new shares issued will have one third of an option attached to it, exercisable at A$0.013/share for two years. The rights price of A$0.01/share is at a significant discount to the share price of A$0.039 prior to the announcement, and is at a 32.6% discount to the theoretical ex-rights price of A$0.0148/share. The incoming Board and management will be led by the experienced mining executive Kevin Wilson. In addition to a re-focusing of the company’s attention on the potential of its exploration assets in Colombia, Metminco also plans to divest its non-core assets in Chile and reduce the level of its overheads. The company plans to commence exploration drilling at the Tesorito prospect in April 2018, and at Chuscal — which is under option from AngloGold — later this year. Tesorito is the highest-priority exploration target within the tenements having been identified by limited drilling results, IP imaging and soil geochemistry. All three holes drilled by the project’s previous owner encountered consistent mineralisation and alteration, with the most notable intersection being TS-DH-02’s intercept of 384m at 1.0 g/t from surface. Surprisingly, and despite these results, drilling approached but failed to intersect the 700m x 500m high-chargeability IP anomaly as defined by a 2012 imaging survey. Copper and molybdenum values in TS-DH-02 were elevated towards the end of the hole and the boundary of the anomaly. Testing the main geophysical anomaly remains a priority. The company believes Tesorito has the potential to represent a sizeable gold-copper porphyry system, typical of the host Mid-Cauca porphyry belt, which houses the giant 33Moz La Colosa and 14.5Moz Marmato deposits
christy41
05/3/2018
12:58
Screwed a lot more like..I will take up my rights,interested to see who they bring onboard and what they can deliver.I presume Kevin Wilson is the same one from Navarre Minerals. SP Angel research note for private clients from mid feb....value as is at over 8p with no value for tesorito or chuscal. click on the pdf link,40 page report https://www.voxmarkets.co.uk/blogs/metminco-mnc-ln-near-term-gold...
christy41
Chat Pages: 290  289  288  287  286  285  284  283  282  281  280  279  Older
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