Minera Share Discussion Threads

[brian boru] 21/1/2015 08:26

at least Courtney thinks it's necessary to get a replacement Director so ain't bust yet??

[dogberry202000] 20/1/2015 20:37

Agree with Boadicea because landscape has improved dramatically for gold. Gold going up WITH a rising dollar is akin to "salmon swimming upstream". It shows strength, so goodness knows what will happen when the dollar weakens. The cost structure for miners has also improved with the collapse in the oil price. Yes, MIRL and its new mine is a steal at the current price.

I noticed that the price improved in Canada tonight. I'll be adding in the morning.

[dogberry202000] 20/1/2015 20:37

Agree with Boadicea because landscape has improved dramatically for gold. Gold going up WITH a rising dollar is akin to "salmon swimming upstream". It shows strength, so goodness knows what will happen when the dollar weakens. The cost structure for miners has also improved with the collapse in the oil price. Yes, MIRL and its new mine is a steal at the current price.

I noticed that the price improved in Canada tonight. I'll be adding in the morning.

[kirk 6] 20/1/2015 16:56

Gold now heading towards the big 1300

[boadicea] 20/1/2015 12:16

The current share price is little more than option money.

The market has failed so far to take on board the triple advantages which apply to gold stocks, including those looking for finance, at today's exchange rates and commodity prices -
1 Stronger dollar reduces local costs relative to the dollar price of gold
2 A very significant part of most gold mining costs is the price of fuel which has fallen dramatically (less relevant where cheap hydro power is already available)
3 The price of gold itself, now approaching $1300 again compared to ~$1100 some weeks ago.

The market is not yet prepared to accept that these advantages will be maintained in the medium and long term, but it implies plenty of room for appreciation if they stabilise at these levels - or better.

MIRL is a steal at under 3p and the main risk for holders is just that - it may well be stolen if too few are ready to fight for a share of it before it's given away for peanuts.

Time now to dig in and hold on for a better deal in view of the improving cost background outlined above. The wake-up could be quite sudden.

[greenrookie] 19/1/2015 13:46

Ripe for takeover

[hutch_pod] 19/1/2015 13:37

I think the Macquarie drawdown requires all costs are fully financed.

I just can't get my head around the co's market cap at £6m ish and needing to find an additional $100m odd. Perhaps it's entirely plausible based on the project's NPV?? I just don't know.

[kirk 6] 18/1/2015 14:28

They still have a possible 80m they can draw from?

[hutch_pod] 18/1/2015 14:05

Maybe the delay in financing will prove to be a smart move if POG forecasts begin to shift upwards.

[shavian] 18/1/2015 10:14

The market is assuming that MIRL will not get the funding it needs to survive, or more likely will be taken out for peanuts by a vulture fund. The rise on the POG, if continued and consolidated, may enable CC to tough it out in the hope of a more benign JV partner coming to the rescue. I think that's the best we can hope for, but it may mean a sharp rise in share price from the present level, but not the bonanza we had all hoped for over these years.

[kirk 6] 17/1/2015 09:02

All speculation but as gold is getting stronger by the dAy you would think the price would move up and fast.

[scars] 17/1/2015 08:04

From 100 in 2011, to 2.5, this has been a bit of a land slide, any balanced opinions on where from here?

[kirk 6] 16/1/2015 20:25

Surely MIRL will get the finance now and at this tiny mkp should provide huge upside

[hutch_pod] 16/1/2015 17:14

Crikey. And it might just hold in this climate of deflation and European QE.

[kirk 6] 12/1/2015 18:40

Gold very strong at the moment will this help secure finance

[hutch_pod] 07/1/2015 13:11

justthemoney - I quite like Blackrock Gold & General as the old favourite. Did you have any in mind yet?

[deanroberthunt] 07/1/2015 12:51

might be worth a hail mary £1k punt on funding.........

[justthemoney] 06/1/2015 22:46

The lights will be off before next AGM. Already written my shares off, staying only because they are not worth selling. Next time will buy a goldmining fund rather than individual shares...at least cannot go down to zero. Gold miners are at historical lows and a good fund should be a multibagger in a couple of years time with very little risk.

[deanroberthunt] 06/1/2015 13:05

it's a punt on funding, whether they get it and in what form.....if it's a highly dilutive private placing at these levels then existing shareholders can kiss it goodbye for eons....

[kirk 6] 06/1/2015 09:41

gold rallying strong again would have thought we might see a rise here today

[haydock] 31/12/2014 11:40

As I said on another of my Q1 promising companies bb.
Qi is tomorrow, its only approx. 90 days long that's 70 approx. working mkt. days.

Cheers Hay.

[hazl] 31/12/2014 11:15

got to be our turn soon I expect 8-)

[boadicea] 31/12/2014 09:51

In a better gold climate it would count for something that MIRL has one of the best fully evaluated gold prospects currently available in their Ollachea project.
Current shareholders have little to gain from virtually giving the company away to new financiers. Unfortunately this is less true for the management who can bargain either to keep their jobs or to get a great pay-off - although I should make it clear that this is not something which I think they have in mind, otherwise it would probably have happened already.

There remains rather modest profitability at Corihuarmi that, given the possibility of minor expansion to adjacent zones there, could continue for some time.
Whether a mothballing at Ollachea and a further squeeze on all other overheads is possible in order to prolong the survival on the basis of existing equity is a question that would also depend on the willingness of existing creditors to agree some sort of moratorium on loan settlements. However, any such arrangement would amount to a gamble on a market improvement in the future, not currently foreseeable, that would have partners/suitors scrambling to get a lesser part of a lucrative deal.

On the other hand, the current state of World stability is such that market conditions can turn on a sixpence (witness the oil price surprise). My remaining investment here can now only realistically be viewed as option money for such a surprise (if any) being favourable - and timely!