Metminco Share Discussion Threads

[the count of monte_cristo] 14/6/2017 05:57

LC sold, CD Capital have got a bargain.

Releases funds to MNC, $5m cash is approximately £3.9m, or almost the entire market cap of the company at the present share price.

So we are now valuing the gold assets at almost zero:)

Although I am extremely disappointed to see LC released and sold at such a low ball price, this does now release funds and will stop the company diluting us further this year, it also helps the market to value the company because we are now pretty much a pure gold play.

[christy41] 17/5/2017 08:02

From Proactiveinvestors...16th May.Looks like the web-site has had a make-over as well.

Metminco* (LON:MNC) 3.4p, mkt cap £4.3m – Mining major turning its sights on Colombia

• Last week, Newmont Mining announced that it had invested US$109m to acquire a 19.9% interest in TSX listed Continental Gold, the owner of the Buritica gold project in Colombia. Although Buritica is a larger and somewhat more advanced project with a formal ore reserve, the Newmont investment offers an insight into the potential value of Metminco’s Miraflores gold project.

• At the same time as the announcement of Newmont’s investment it was also disclosed that Red Kite had also invested US$25m in Continental Gold for a 4.6% interest at the same price of C$4.00/share.

• Both the Buritica and Miraflores deposits are located within the middle Cauca gold belt of Colombia which also hosts the 3.5m oz Gramalote deposit and the 28.5m oz La Colosa gold deposit of Anglogold Ashanti, which has been experiencing issues over permitting of a large scale open pit mine. Metminco’s La Quinchia project area is located some 100km south of the regional city of Medellin while Buritica, located some 70km northwest of the city is described as the northernmost significant precious metals deposit within the belt.

• We estimate that, at current precious metals prices, the Newmont and Red Kite investments value Buritica (measured and indicated resources of 12.9mt at a grade of 10.8g/t gold and 34 g/t silver and projected annu8al production of around 250,000oz of gold) at approximately US$117/oz of gold equivalent measured/indicated resource and at US$2,196/oz of projected annual gold production.

• These benchmarks imply a value for the current Miraflores resource (9.2mt at an average grade of 2.8g/t gold and 2.8g/t silver and around 46,000oz pa of average annual production in the range of around US$100m and although we would expect a discount to this theoretical figure to reflect the smaller, lower grade and less advanced stage of the project, with Metminco currently expecting to complete the Bankable Feasibility Study during the first half of 2017, the discrepancy between the current market value of the company and the value implied by the recent transactions seems likely to narrow over the coming months.

*SP Angel act as broker to Metminco. share price Angel analysts have previously visited Los Calatos in Peru and Miraflores project in Colombia

[digger2779] 02/5/2017 16:19

Bombs away!

[jmiddy] 25/4/2017 14:52

Sitting on a massive loss with these, does anyone believe they'll recover at some point?

[robizm] 03/4/2017 17:09

I wouls like to buy into the copper project but someone has ti go first

[digger2779] 03/4/2017 11:29

Giving the company away bit by bit ffs.

[christy41] 15/3/2017 12:54

CC,Not a problem.Red Eagle is also in Gwen Prestons Maven Portfolio,gets a mention around 14mins in.

[chesycustard] 14/3/2017 20:10

Cheers christy

[christy41] 14/3/2017 15:14

No problem TCMC, I've read a few other boards lately & WH has been getting some stick but its never mentioned about the deal we got on the gold asset.Also this has been the worst bear market for juniors most can remember....we still have a percentage of L.C with someone willing to front in excess of 40 million dollars on advancing it.
Ian Slater also thinks Red Eagle should double their m/c now they have a producing asset which should throw off free cash of 55 million from 70,000 oz.
Its a template hopefully MNC can replicate,& having spoken to the company I know that's the aim.

[the count of monte_cristo] 14/3/2017 15:13

Key paragraph for me is the following, Mira is just one of the projects.

...."Additionally, Miraflores will represent the first of a number of potential projects within the Quinchia portfolio. The focus remains to advance Miraflores through the remainder of this year and to further derisk the project."

[the count of monte_cristo] 14/3/2017 14:58

Thanks christy41, management may not have got the best deal for LC, but they picked up the Columbian gold assets at the bottom of the cycle. Management just need to keep things moving forward with Mira now, a clear road map exists and they have the major shareholders to develop the asset.

Red Eagle Mining capped at over $200 Canadian Dollars.

Interesting to note how quickly they developed the Santa Rosa gold project. Slide 6 is interesting in regards the appreciation of the share price

[christy41] 14/3/2017 14:19

Also Red Eagle presentation from MIF 2017
Shows the potential of what can be achieved...

[christy41] 14/3/2017 10:02

Good update from the company...

Well worth listening to some of the Kitco News interviews from PDAC.
Red Eagle get a small mention in this one...
central Columbia belt.Also where the gold price is going & sentiment,

[the count of monte_cristo] 14/3/2017 09:23

Not sure what time the rns came out down under?

[chesycustard] 14/3/2017 07:28

Agree count, good figures to add. But no interest in Australia! Hopefully more here. Lots of value and that's just Mira and we also have the distribution yet. Need our brokers to do their jobs.

[jungmana] 14/3/2017 07:13

Took a small position here last week. Just could not resist at such ridiculously low market cap.Nice rns this morning.

[the count of monte_cristo] 14/3/2017 07:08

"An increase in M&I resources of approximately 8,000ozs contained gold and inferred resources of approximately 29,000ozs contained gold".

8,000 × $1,200 = $9m

Nice upgrade, the value of the additional 8,000 oz is worth more than the current market cap of the company:))

Other small cap gold miners are years away from ever developing a mine, yet they are capped more than MNC!?

[the count of monte_cristo] 07/3/2017 12:06

A significant drilling programme to occur on LC this year, I expect news on this during March. News flow on this will be exciting in itself. Proving up a larger resource or potentially finding higher grade areas, T2, would be very exciting.

We have the backers and larger shareholders to move things forward now.

[novicetrade68] 06/3/2017 22:06

Hm, well done. This is still on my watch list wondering whether it will get any cheaper, but probably it won't be, or at least not by much I think.

Mira seems like a very decent project and I'm getting the impression it is valued for nil in the MCAP. And if it is valued, then the copper must be valued at nil. But then they already seem to have a JV investment in that one. I wonder if I am missing something, as in a way, this looks really really cheap now ?

[the count of monte_cristo] 06/3/2017 16:10

I think so too, which is why I have made a large purchase.

[the stigologist] 06/3/2017 16:05

a fool and his money...

:-p

I think you'll make money from here

[the count of monte_cristo] 06/3/2017 15:59

Just picked up 150,000 shares at 6.2p

Roll on news flow...

[jungmana] 18/2/2017 18:23

Sacking the CEO Howe will simply put 100% on the share price imo. To be honest mnc is extremely undervalued today. Look at likes of sula, xtr and many others valued more. Also many miners and explorers have been up 200%+ in last few months but good old mnc is still at the bottom.If i have any spare cash I may buy some again but will have to wait for 2/3 weeks.

[sannabay] 18/2/2017 15:53

Shame about some of the concerns voiced over on LSE. Think MNC is in the strongest position it has been in for years. Feeling positive about the outlook mid to long term and wouldn't be at all surprised if the Stig's assessment comes true. Our current valuation is just daft. Fingers crossed everyone.