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
  +0.00p +0.00% 2.50p 2.25p 2.75p 2.50p 2.50p 2.50p 25,930 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -100.5 -137.2 - 3.18

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Date Time Title Posts
18/8/201712:49METMINCO - Building a mid tier copper producer4,339
14/6/201600:28MNC facing total wipe out - FACING LIQUIDATION SOON9
28/2/201516:04Metminco - Cheapest Copper Stock. 1.4Bt cu - Ј32m mk cap140
23/6/201422:12Welcome to Metminco2,306

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Metminco Daily Update: Metminco is listed in the Mining sector of the London Stock Exchange with ticker MNC. The last closing price for Metminco was 2.50p.
Metminco has a 4 week average price of 2.38p and a 12 week average price of 2.25p.
The 1 year high share price is 9.75p while the 1 year low share price is currently 2.25p.
There are currently 127,200,299 shares in issue and the average daily traded volume is 112,609 shares. The market capitalisation of Metminco is £3,180,007.48.
the count of monte_cristo: Although the management have an awful track record, the share price has become extremely cheap now. Must be the cheapest gold stock per ounce in the ground on AIM.
jungmana: Interesting development. I agree MNC, is sad to see LC sold but on the plus side the company is valued at cash level today. The huge gold asset is valued at zero .I think 8 to 12p should be a reasonable share price right now.Gla
the count of monte_cristo: 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.
jungmana: 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.
jungmana: Well , without new blood the share price will go nowhere. Most old holders either sold out or are sitting on huge losses. Many can't be bothered to average down as like me have lost faith in Howe. Now is best to get rid of him and let mnc achieve her potential. That way punters will join in droves. Vast, Prem and Trin are very good recent examples.
christy41: Borrowed from Snicket on lse board From HC guy close to company: A few blinkered sad sacks here? The price will take care of itself in due course. Equity markets are not rational, prices undershoot and overshoot. But in the end the facts will speak.. In this market this is a great deal, and given the beckoning new directions for MNC in Colombia it’s great timing for the Company. On Calatos, how many other deals like this have we seen on large undeveloped copper deposits? Altona is one. Others?? It leaves the Company still with 30% after taking the project presumably to decision to mine, or sale whenever to a big industry guy. Important too is the coming work will include more drilling, to test near surface potential and also test anomalies TD2 and TD3. Successful drilling could add lot of value. And yes great timing. It will certainly help MNC fund work in Colombia, near term to progress the Miraflores mine FS and especially to drill Tesorito. Tesorito is major target, 500 x 700m surface anomaly, 3 vg holes to date, all economic grades . Plus big undrilled IP anomaly. Thus Miraflores offers 50koz pa for 10 years while Tesorito might be 200koz pa for 10 years??! Different league altogether. And it will not take much drilling to clarify this potential. Then MNC will look at joint development of Dosquebradas with neighbouring listed Batero. And that’s before major multi moz upside at Chuscal, plus rest of tenements. TSX—V listed Red Eagle Mining (REM) is timely peer comparison for MNC. REM is capped at C$150m (share price up about 3X since Feb 2016) and now building San Ramon underground gold mine, comparable to Miraflores. A small higher grade mine, reserves only 0.4moz, planned unit costs US$670 per oz including sustaining capex, within the Santa Rosa project, in Colombia, just N of Medellin. Capex US$74m, funding includes US$60m debt. Permitting was straightforward. One other project inside REM. People are quick to bag Board and management, but is case that they have done a good job. First, they finally got a good deal on Calatos in a very tough market for copper and equities? And second, after kissing over 30 frogs they seem to have found a very good new direction, offering near term cash flow, and it’s gold, and which they have the technical and financial capacity to implement. And bearing in mind that in kissing a box of frogs they looked at deals where resources were misrepresented. So it took good technical nous to sort wheat from chaff. They only had one shot at a new “cash flow” deal. Imagine if they had bought the wrong one. People now forget they did v good job exploring Calatos, unravelling it geologically. They will now bring these skills to bear in Colombia. Yes there are risks, particularly permitting / local issues, notwithstanding the big improvement at government level. But, as MNC have stressed, Colombia as a country with excellent under-explored economic geology has huge potential, and MNC’s new proje
cantrememberthis2: Yes two deals – an attractive entry into gold in Colombia and funding full development studies at the large long time Calatos copper project - would buy MNC a seat again at the table? After years struggling in the cold outside. Though here constructive rational behaviour (technical and corporate) by the player means much better odds than at a casino? These deals, if and when consumated, would be the most portentous transactions for the Company in about 10 years. Perspective. MNC’s management has often been criticised in recent years by frustrated unhappy shareholders, during the long (4 year) share price slide. Fair enough. But this needs careful assessment. In the mining exploration and development game you play the hand you are dealt and arguably MNC has played a difficult hand better than most. In Chile and Peru it established a large portfolio about 10 years ago, but then faced a succession of challenges. First was cleaning up corporate ownership of the assets, which was not easy. Then from late 2008 the commodity and resources equity markets soured and stayed sour till now. Third, after a promising start, the assets proved tougher. Thus Calatos has proved large, and is very well located for development, but (after a couple of very good early holes) it has not proved a bonanza. But arguably for a junior explorer MNC has done a sound technical job at Calatos, having to work at unravelling the geology and mineral resources, and at extracting an optimal development concept. But here they seem to have made progress. And then, very frustratingly at Mollacas, Chile’s legal system has proved less reliable than expected. So MNC has since looked wider afield, seeking a prospective near term cash flow asset they could manage, develop. Easier said than done though and it’s taken years to put flesh on the approach. But to their credit they persisted, and apparently resisted earlier opportunities which had technical deficiencies. Now perhaps the Company’s luck has changed and in Colombia they have a robust digestible near term mine development on their plate, and also,importantly, meaningful prospects for substantial exploration success which could (again) transform the Company. Arguably too, despite the rocky road in recent years, MNC, for its size, still has a Board and management which is relatively strong in terms of its corporate and technical skills. Videbimus!
vmax lse: COMPANIES Metminco*† ASX:MNC | A¢0.55 | US$11.6m | Speculative Buy Completion of A$1m Capital Raising Metminco has announced the completion of a placing of 250m shares at A¢0.4/share by share price Angel and RFC Ambrian to raise a total of A$1.0m. Trading of 210m shares is expected to commence on the ASX/AIM on 5 April, with the balance of 40m shares expected to begin trading on 8 April. The company has stated that use of proceeds, following the completion of the Quinchia Gold Portfolio acquisition (on target for end-May 2016), will be towards: the completion of a feasibility study for the flagship Miraflores Project; plant infrastructure; and working capital. For further details please see Metminco – Agreement to Acquire the Quinchia Gold Portfolio, 7 March 2016. Binding Heads of Agreement with RMB to acquire 100% of the Quinchia Gold Portfolio — The portfolio comprises 15 mining concessions in Colombia, with a 2.8Moz resource at 0.65 g/t (at a 0.27 g/t cut-off) across the near-feasibility stage Miraflores Project and the Dosquebradas deposit. An initial equity consideration of 50m MNC ordinary shares has been paid by Metminco to RMB. Meanwhile, the cash consideration payable to RMB within one year of signing totals just an estimated A$0.5m, with a further two payments of A$1m due in May 2017 and 2018, minimising up-front capital commitments. The total pre-production cash consideration sums to A$7.5m due over a maximum of four years, with a final A$7m NSR-based payment contingent on the project being brought to production and achieving positive cashflow. Near-term development potential at Miraflores — Prior owner Seafield had reached near-completion stage on a feasibility study on the project, with the latest Technical Report numbers outlining a 42,000oz pa 12-year LoM operation with already attractive AISC of US$682/oz, capital intensity of US$164/oz, and post-tax NPV8 of US$47m at a US$1,200/oz gold price. The company sees scope for NPV optimisation due to the recent reductions in mining and capital costs seen across the industry, combined with a planned boost to production to increase the IRR. A work programme will be undertaken over the coming months to incorporate these planned savings and their impact on feasibility study parameters, with the finalised study currently anticipated by 1Q17. Prospective large-scale exploration target at Tesorito — Despite the early-stage nature of the Tesorito target, 800m to the SE of Miraflores, the company sees it as the highest-priority exploration play within the Quinchia Portfolio. Of the three holes drilled so far, all have encountered consistent mineralisation and alteration, with the highlight being TS-DH-02’s intercept of 384m at 1.0 g/t Au starting from surface. The company believes Tesorito has the potential to represent a substantial gold-copper porphyry system, typical of the host structural trend (the Mid-Cauca porphyry belt), which already houses giant deposits such as AngloGold’s 33Moz La Colosa and Gran Colombia’s 14.5Moz Marmato. Post-acquisition outlook — Given that the company remains in negotiations to secure a strategic partner to alleviate the capex commitment to reach the PFS and DFS stages at the large-scale Los Calatos Project (estimated at US$15m and US$25m respectively), and the access rights dispute at Mollacas remaining ongoing, we believe the Quinchia Gold Portfolio represents a near-term fundable development opportunity in the current improving gold price environment. Following the closing of the transaction, we anticipate two streams of near-term newsflow from Quinchia, involving feasibility study re-optimisation work at Miraflores running parallel with exploration results from Tesorito. Both of these have the potential to act as catalysts for MNC share price appreciation.
jungmana: this is from last year. shows how the bottom has fallen off MNC share price due to commodities down turn over last 2 years. Metminco valuation put into perspective by First Quantum copper deal By Ian Lyall June 18 2014, 12:19pm There are signs of life in the copper mining industry that may have knock-on ramifications for South America-focused Metminco (LON:MNC, ASX:MNC), according to broker Canaccord. In a note issued Wednesday its analysts assessed the benchmark set by First Quantum Minerals’ (LON:FQM) US$433mln acquisition of Lumina Copper. Lumina owns the Taca Taca Project in Argentina, which is similar in geology and grade to Metminco’s Los Calaotos deposit in Peru - though former is more than twice the size of the latter. More interesting are the deal metrics and specifically the 2.1 cents a pound per ounce paid by FQM for Taca Taca. On this basis, Metminco is worth 7p a share, according to Canaccord. The stock is currently changing hands for 1.16p. “Importantly, the First Quantum transaction shows that larger copper producers are willing to pick up assets despite the broader macro uncertainty that is pervading the equity market,” said analyst Peter Mallin-Jones. “This suggests that finding a partner for the Los Calatos project is by no means impossible, and we take this transaction positively.” with the dilution over the last year. the 7p value is about 5p equivalent today.
dyardley: From LSE reply from Steve Tainton answering questions sent by Mav2.... Don't think that link is going to work, I may have to copy and paste later on. It came from Steve Tainton, says MNC are vastly undervalued. Rest of his email said - With the reduction in staff to conserve costs, there have been number of changes in the Company, one of which is that I am no longer directly involved with Investor Relations – albeit I assist on an ad hoc basis. Having reviewed your various questions (as opposed to statements reflecting your views of the Company), I have attempted to address such based on what is available in the public domain. a) Performance of Metminco Share price One needs to look at Metminco's share price in the context of the general market. Resource stocks are under pressure, particularly in the small to mid-cap space. This tends to be more accentuated in those instances where companies do not have access to a cash flow from an existing mining operation, and who potentially have large capital requirements to develop a project. I have included a graph that shows the relative performance of the MNC share price over a 12-month period by comparison RXM (requires funding of US$850 million to develop their Hillside Project [Cu]), HGO (copper producer) and the S&P/ASX Small Resources Index) for your reference. As you will see, the S&P/ASX Small Resources Index has decreased by 8.6% over the period. b) Why invest in Metminco? This of course is entirely dependent on the shareholder and his/her appetite for risk. Metminco has two major assets in the form of the Los Calatos copper-molybdenum project (Peru) and the Mollacas copper leach project (Chile), where the former project has been advanced to a Pre-Feasibility Stage, and the latter project to a Feasibility Stage. Los Calatos has a potential Life of Mine of 34 years producing some 98kt of copper in concentrate per annum, whereas Mollacas is much smaller with a Life of Mine of some 7 years producing up to 8kt of cathode copper per annum. Both projects have the potential to produce copper at competitive C1 Cash Operating Costs. However, whilst production at Mollacas could commence production in late 2016/early 2017, production from Los Calatos is only expected post-2020. Capital to develop Los Calatos in particular is an issue, and it is for this reason that we have endeavoured to identify a strategic/funding partner for the development of the project using the services of a well-known banking institution. I have attached a recent Research Note by Patersons for your reference, which values Metminco at between A$0.071 and A$0.11 per share, considerably more than its current share price. c) Why is it taking so long to identify a Strategic Partner for Los Calatos? The Company has actively been trying to identify a partner for the development of Los Calatos for weThe Company has actively been trying to identify a partner for the development of Los Calatos for well over 12-months now. Ideally, we would have liked to initiate the process after having completed a Pre-Feasibility Study, but the market moved against us, necessitating that we initiate the process earlier. In August 2013, the Company released the results of an optimised mining study completed by RPM, which is currently the reference base for the project. The low share price, and hence low market capitalisation, has not assisted Metminco in its discussions with potential partners – as the general tendency in the market has been to value a company's assets based on market capitalisation as opposed to the NAV (hence undervaluing the company's assets). I can confirm that until such time as a sensible deal can be concluded, the Company will not transact on Los Calatos. d) Cash burn rate and cash reserves In relation to cash burn, the Board is actively evaluating a number of strategies and will continue to adapt its forward plans to meet changing circumstances to ensure Metminco is able to function and grow. For this reason, the Company will continue to retain the services of a skilled, core, staff compliment. e) Merge, Takeovers and Sale of Assets These represent alternatives that are under consideration, and will be driven by what ultimately realises best shareholder value.
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