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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Minerva Res | MVA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 0.70 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.70 | 0.70 |
| Top Posts |
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Posted at 24/4/2009 16:34 by cyberpost Possible Offer (Minerva Res)TIDMMVA AIM Release 24 April 2009 Minerva Resources plc (AIM: MVA) ("Minerva Resources" or "the Company") Possible Offer The Board of Minerva Resources advises the following update to the market on its funding status. The Company confirms that it is in discussions with a number of parties regarding financing and corporate transactions, which may or may not include an offer for the entire issued and to be issued share capital of the Company. Shareholders should be aware that there is no certainty that an offer will be forthcoming and no certainty as to the terms on which any offer might be made. |
Posted at 12/1/2009 09:31 by fairdeal2008 Have just bought into MVA. Looked closely at stock over the weekend. Seems that we should have more drill results shortly and that they are targeting a 1million ounce resource in Ethiopia.They seem to have a good relationship locally with the authorities (which is important). Raised money at 2.5p last year (August I think guessing) into hopefully reasonably firm hands. Currently capped at £1mn but the spread is awful. Nevertheless this kind of spread can disappear in an hour in these undervalued explorer stocks so taken the punt anyway. They also have income as they own a drilling company and have in the past year won $5million of contracts and this helps fund exploration it seems. The gold grades look excellent and I think they have an exciting project on their hands. IMHO |
Posted at 06/11/2008 13:06 by anna faelten GECR Note out on Minerva:Minerva Resources* Exciting Tulu Kapi Gold Assay Results, Reiterate Speculative Buy with 5.7p Target. Key Data EPIC MVA Share Price 1.5p Spread 1p-2p Total no of shares 154.6 million Market Cap £2.3 million 12 Month Range 1.5-7.25p Net Cash £0.7 million (est) NMS 5,000 Market AIM Website www.minervaresources Sector Mining Contact Terry Ward, Managing Director, Tel: +44 (0)20 7379 5012 On the 3rd of November, Minerva Resources announced the latest assays from its Tulu Kapi gold project with excellent results confirming the depth and strike extension of previous drill holes. The Ethiopian focused gold explorer reported near-surface and high grade mineralization from the latest 3 drill assay results in its 25 hole diamond drill programme. This initial drill programme is now complete, but excessive demand on the analysing laboratories, and the need to check some of the high-grade intersections, means Minerva has experienced delays in receiving its full drill results. The remaining assays from the 25 drill hole programme are expected to be released during November. The latest assay results are from drill holes TKBH-16, 19 and 21 with the respective highlights being 0.6 metres at 11.2 g/t from 35.5 metres in depth, 1.3 metres at 9.8 g/t from 89.6 metres in depth and 15.3 metres at 7.3 g/t from 16 metres in depth. The initial 25 holes were drilled 40-80 metres apart along a 600 metre strike length within a 1.5 kilometre geochemical gold anomaly to confirm the grade, and depth and strike continuity of earlier preliminary drilling. The Tulu Kapi deposit is located on a large hill 570 metres north of where a United Nations Development Programme (UNDP) borehole drilled in the 1970's intersected 0.7 metres at 27 g/t gold. Minerva holds a number of nearby gold prospective licences at Gudeya-Guji, Guji and Dina and it is hoped that a single treatment plant could service them all eventually. Highlights from the other assay results of the same initial 25 hole drill programme include 20.7 metres at 4.8 g/t gold from 28 metres in depth, 18.5 metres at 4.3 g/t gold from 0.5 metres in depth and 4 metres at 10.2 g/t gold from 59 metres in depth. The near-surface and high grade results give optimism to the development of an open pit mine in the mid-low end of the operating cost spectrum. The excellent drill hole results so far have given Minerva every right to believe an economic mineralization exists at Tulu Kapi. However, with the nearby Dina site having also shown good results (eg 7.1m at 9.4 g/t Au), a stand-alone operation at Tulu Kapi is not a necessity to develop a mine and build a treatment facility. Despite the frustrations of delays in receiving assay results, Minerva is progressing well at its Ethiopian exploration sites and is confident that a JORC compliant resource can be defined in the medium term. It is our belief that the gold price will rise sharply during 2009 and that further underpins our confidence in Minerva. We maintain our target price at 5.7p and our recommendation remains speculative buy. *Minerva Resources is a corporate client of Bishopsgate Communications which is owned by RSH the ultimate owner of GE&CR. The t1ps SF Fund which is managed by TIM, another subsidiary of RSH, holds shares in Minerva. Forecast Table Year to 30th Sep Sales (£ Million) Pre-tax Profit (£ Million) Earnings Per Share (p) Price Earnings Ratio Dividends Per Share (p) Dividend Yield (%) 2006A 0 (0.7) (1.92) NA 0 0.0 2007A 0.3 (0.3) (0.32) NA 0 0.0 2008E 0.3 (1.4) (0.90) NA 0 0.0 2009E 1.0 (0.8) (0.52) NA 0 0.0 I should declare that Minerva is a corporate client of Rivington Street Holdings for whom I work. Anna Faelten Rivington Street Holdings |
Posted at 28/8/2008 15:39 by hugepants New gold province being discovered.Cheap at half the price. Result of General Meeting AIM Release 28 August 2008 Minerva Resources Plc (AIM:MVA) ('Minerva Resources' or 'the Company') Results of General Meeting The Company announces that at its General Meeting held earlier today all the resolutions were duly passed. For further information please contact: Terry Ward Minerva Resources plc Tel: +44 (0)20 73795012 / (0)7989571576 taw@minervaresources Jane Stacey / Ed Portman Conduit PR Tel: +44 (0)20 74296606 / (0)7922923306 jane@conduitpr.com James Joyce/ Sarang Shah W. H. Ireland Tel: +44 (0)20 7220 1666 james.joyce@wh-irela Notes to Editors Minerva Resources plc is a UK based mineral exploration and development company quoted on London's Alternative Investment Market (AIM: MVA). The Company is intent on delivering shareholder value by increasing and developing its mineral resources in a socially and environmentally responsible manner. The main focus is resource development in Ethiopia where the Company has first-mover advantage on prospective ground on the Arabian-Nubian shield. Key projects include the gold resources at the Tulu Kapi, Gudeya-Guji, Guji and Dina Prospects and the Yubdo Platinum Mine, located in western Ethiopia, some 560km west of Addis Ababa. Tulu Kapi was mined in the 1930s by an Italian company. In the 1970s, the United Nations Development Programme (UNDP) mapped and drilled Tulu Kapi. Tan Range Exploration carried out soil sampling and further mapping and drilling in the 1990s. These two phases of work confirmed mineralisation extending over a strike length of 1.5km. The project is undergoing resource drilling on a 600m section at present, after encouraging Minerva Resources ground mapping, data reinterpretation and excellent scout drilling results. Drilling programmes are also underway at the Gudeya-Guji, Guji and Dina gold prospects, which are located in close proximity to Tulu Kapi. The drilling has shown mineralised intersections on all three prospects. The results from the drilling on Tulu Kapi and the satellite prospects and their close proximity point towards a new gold province with the potential for the establishment of a 'one treatment plant - -multiple feed scenario'. The Company is examining the potential to expand the small scale platinum production operations at Yubdo, some 25km from the Tulu Kapi Project. A pilot gravity recovery plant has been installed, a metallurgical research programme has been initiated and further exploration activities have commenced on the 9km by 1.5km surface expression of the orebody. In Sierra Leone, the Company holds gold, platinum and diamond exploration licences, which will for the most part continue to be developed by existing Joint Venture partners. - ---END OF MESSAGE--- |
Posted at 03/6/2008 10:06 by ghhghh Good update from Minerva.Remember that their main projects are the Tuli Capu/Gudeya-Guji/Guj Tuli Capu/Gudeya-Guji/Guj MVA market cap only £4.4m. They have now drilled 22 holes at Tuli Capu - holes 1 - 7 were announced last year, holes 8 to 12 announced today and the results from holes 13 to 22 are expected to be received over the forthcoming month, delayed due to the excessive assay workload on the assay laboratories. I have roughly averaged the results (where multiple intersections) for general overall view but see RNS above for full table. Hole 1 - 10m @ 2.1gms/t Hole 2 - 11.7m @ 2.39 gms/t Hole 3 - Hole 4 - 37.9m @ 4.6gms/t Hole 5 - 9.1m @ 2.78 gms/t Hole 6 - 14.1m @2.7 gms/t Hole 7 - 16.2m @2.85 gms/t Hole 8 - 44.1m @3.09 gms/t Hole 9 - 4.7m @ 3.4gms/t Hole 10 - 37m @ 4.09gms/t Hole 11 - 22m @ 2.85 gms/t Hole 12 - 30.3m @ 4.4 gms/t. MVA say: The holes drilled recently indicate a significant depth extension, to some 200m, of the two altered zones intercepted in the scout drilling programme and also show several additional altered zones, of varying thicknesses, beneath these zones. Visible gold occurs in a couple of core section. The zones remain open along strike in both directions and at depth. Holes 23, 24 and 25 are being drilled at present, by the three rigs at site, to investigate the continuity at depths. Re Gudeya-Guji (9 km from Tuli) Two drill holes have now been drilled to determine depth continuity, while a third hole has been drilled to determine potential strike continuity to the south-west. All three holes intersected two mineralised quartz veins and assay results are expected in the next six weeks. And Guji (7km from Tuli) a 1.2km long geochemical soil anomaly at Guji has been drilled to further examine the down dip extension of the surface mineralisation shown in the trenches (see previous Company announcements). Three core holes have intersected mineralised zones and assay results are expected over the next six weeks. My best guess is Tuli looking like 500K to 1m ozs and Gudeya-Guji could add significantly to this. Tuli should be easy to develop since side of hill. Terry Ward, Managing Director, commented today, "The recent assay results are confirming that there is a widely mineralised system with several high grade zones, which continue at depth and along strike at the Tulu Kapi prospect. We are now seeing significant grade mineralisation for a strike length of some 600m and to a depth of some 200m. The close proximity of the exciting prospect at Gudeya-Guji, coupled with the Guji Prospect, point towards a new gold province with the potential for the establishment of a 'one treatment plant - multiple feed sources scenario'" As I mentioned above, MVA also have the Yubdo Platinum project which has great potential. I've met Terry Ward a couple of times and been impressed - he has excellent reputation as one of the 'good guys'. I bought heavily into Minerva in its previous guise as Palladex and tipped it here at around 6p to 7p. Its been a long wait but MVA now looks very cheap in view of the low market cap versus probability of 1m ozs gold. |
Posted at 20/5/2008 14:58 by ghhghh The story with MVA is how good will the long awaited assay results for Tuli Capi be.There are a stack of them piled up at the labs from drilling late last year through to current. If a large batch come through together and if they are as good as MVA imply, we will see instant re-rating of share price. The next MVA drilling update should be very revealing - in view of long long wait there should be numerous assay results Cheers Paul |
Posted at 22/11/2007 13:23 by kiwi3 22 November 2007Minerva Resources Plc (AIM:MVA) ("Minerva Resources" or "the Company") Board Change Minerva Resources today announces that Merlin Marr-Johnson has tendered his resignation as Executive Director, Development, effective 1 January 2008, due to a change in personal circumstances. The Board is progressing the appointment of a replacement executive director. The company also announces the appointment of Gary Vermaak as Chief Financial Officer of the Company, effective 1 January 2008. Gary, 42, has over 10 years experience in the minerals industry and has held senior management positions in major operational companies. He holds a B.Com and is a chartered management accountant. This is a non board position Terry Ward, Managing Director, said "I would like to thank Merlin for his hard work and contribution as a Director during his appointment. I am also delighted to welcome Gary to the Company. Gary brings a wealth of accounting and financial experience to the Company, with particular relevance to the mineral sector in Africa. For further information please contact: Terry Ward Minerva Resources plc Tel: +44 (0)20 76294800/(0)79895715 Jane Stacey/Ed Portman Conduit PR Tel: +44 (0)20 74296606/(0)79229233 James Joyce / David Porter W. H. Ireland Tel: +44 (0)20 72201666 Note to Editor Minerva Resources plc ('Minerva Resources' or 'the Company') is a UK based mineral exploration and development company quoted on London's Alternative Investment Market (AIM: MVA). The Company is intent on delivering shareholder value by increasing and developing its mineral resources in a socially and environmentally responsible manner. The main focus is resource development in Ethiopia where the Company has first-mover advantage on prospective ground on the Arabian-Nubian shield. Key projects include the gold resources at the Tulu Kapi and Guji prospects and the Yubdo Platinum Mine, located in western Ethiopia. Drilling programmes are underway at the Tulu Kapi and Guji gold projects in western Ethiopia. The two projects are 7km apart, allowing significant sharing of logistics and infrastructure. Tulu Kapi was mined in the 1930s by an Italian company. In the 1970s the United Nations Development Programme (UNDP) mapped and drilled Tulu Kapi. Tan Range carried out soil sampling and further mapping and drilling in the 1990s. These two phases of work confirmed mineralisation extending over a strike length of 1.5km and the project is undergoing second phase drilling after encouraging early Minerva Resources drill results. The Company also has a strong presence in Central Asia, operating a Technical Services Division undertaking contract geology and contract drilling work from the Kyrgyz Republic. In Sierra Leone the Company holds gold, platinum and diamond exploration licences which will for the most part continue to be developed by existing Joint Venture partners. ---END OF MESSAGE--- |
Posted at 09/11/2007 19:00 by fez I imagine todays rise prompted MVA to put out an announcement - perhaps this was what management were going to tell you on Tuesday Paul...Operations Update - Tulu Kapi Gold Project, Ethiopia Highlights: * Drilling intersects extensions of mineralised zones at Tulu Kapi * Second drill rig arrives at Tulu Kapi * Gold nuggets picked out of soil at Tulu Kapi after rains Personally I particularly liked this paragraph... Finally, after seasonal heavy rains gold nuggets up to 10mm in diameter were picked from soil at Tulu Kapi. The gold nuggets are highly angular grains and aggregates indicative of a local source with little or no transport occurring. |
Posted at 09/11/2007 10:51 by ghhghh Minerva Resources MVA (was Palladex). Market cap now £4.5m at 4p.Another obscure small gold company trading near its lows regardless of gold price. Drilling updates due on two gold prospects. These two prospects only 7km apart so could use same Plant, hence economies of scale. Trenching at one returned 68.5 metres @ 9.6g/t gold and good drill results to date on the other. I've copied my post dated 13th Sept 07 below but this was my conclusion: Add that lot together, two exciting explo projects, 51% of Platinum Plant (albeit small), 3 JV's (incl one free carried?), fives rigs that can be sold for say circa £350K to £400K and the PLX explo Licences worth say £500K, perhaps more. Plus the circa £2m cash and the shares look decent value. I also like Ambrian Capital having 40% and directors on Board. They should help promote profile if MVA make discovery worth shouting about and hopefully inject something else before cash pile disappears should Ethiopia prove disappointing. I received a phone call yesterday from Merlin Marrs Johnson, the CEO, inviting me (and 11 others) to lunch with the Directors this Tues. Very short notice and although I'm used to being on the C list since he hadn't fixed the venue I wondered whether for once it might be a case of 'breaking news'. I asked 'how's everything going?' and he said hoped to tell us more on Tues. Seemed upbeat as far as I could tell. So I'm assuming something happened and will be announced before Tues. Question is whether bad news and this is damage limitation exercise or whether good news, perhaps even spectacular drill results! Spectacular not out of the question since Merlin has been excited about Guji after the 68.5 metres @ 9.6g/t gold tenching result. Remember they drilled straight underneath it: 17th July NR: Three short (100m) diamond drill holes have been drilled under the Guji soil geochemistry anomaly. One hole was drilled under each trench, with a filler hole 200m between the two trenches. Assays have shown limited gold intersections, which suggests orientation of structure requires further interpretation in order to ascertain the origin of gold in these high grade trench results. MVA have now mapped out where they believe the high grade gold came from and have been (obviously!) drilling there. Hence the pending drill results for Guji potentially spectacular but that's clearly a long shot. And further drill results for Tulu could also be material: Last drill results: The mineralisation is open in both directions along strike and also at depth. The intersection of 0.7m at 27.0g/t Au in the UNDP 10 drill hole, some 570 metres to the north of TKBH 6, indicates a potential major increase in the total strike length of the project. IMO MVA an attractive risk:reward since say 50% downside seems worst case since shell status with well connected major shareholder (who won't squander all the cash). A spread of other assets incl drill rigs and the Kryso Licence which may be easier to sell with gold at $830. And then Tulu and Guji, either of which could be a company maker, and being only 7km apart reduces commercial threshold (ie each has to be only half a company maker!). Will let you know how Tues goes. Cheers Paul The entire post: Was Palledex when I recommended it here at 6.5p several years ago. After poor explo results in Kyrgyzstan, Ambrian Capital injected its African assets and relisted as Minerva 10th July with cash over £1m (had £1.6m at 31st March according to last published accounts). 111m shares so cap £5m at 4.5p. Assets comprise: Extensive Ethiopian explo acreage but to keep it simple, two current projects: Tuli Capi Early days but drill results encouraging so far. MVA hoping for at least 500K ozs with 1 m ozs a possibility. Currently drilling with more drill rigs imminent so should be exciting next few months re newsflow. Guji One trench returned 68.5 metres @ 9.6g/t gold. MVA immediately drilled 3 100m m holes underneath this trench but missed the source. After re -interpreting the data, they now believe target angled away from trench so revised drill programme imminent. My impression from MVA over last few months has been that pleased with progress at Tuli Capi but Guji was the potential pant wetter. Remember two prospects only 7km apart so can easily be serviced by same Plant. 51% of local Platinum Mine IMO small potatoes. Might increase production to 400 ozs p a but can't see Company making potential Lake Sonfon JV Gold Projects, Sierra Leone MVA have 24.5% free carried? with joint venture partners Golden Star Resources and Mano River. Lake Sonfon JV Diamond Projects, Sierra Leone MVA have 50:50 JV with Mano Resources York Platinum JV Exploration Project MVA have 80% in joint venture with Jubilee Platinum. Jubilee has identified an extension of an existing platinum/palladium mineralised reef on the 105 sq km licence. Kyrgyzstan Licences Palladex's old Licences. Am told discussions to sell ongoing (albeit with another party) and price could be material. Drill Rigs Own 5 drill rigs operating in Kyrgyzstan. Seems logical to sell since good market. My understanding is Book Price around £400K. Today's £950K windfall In view of £5m market cap, a tax free £950K cash injection very attractive and greatly strengthens balance sheet. According to yesterday's UK-Analyst Tip (ie before today's Announcement): Minerva's cash reserves at the moment stand at approximately £1 million. This will allow the company to continue its exploration campaign at the Tulu Kapi, Guji and Yubdo projects until the third quarter of 2008. It is expected that by that time there will be positive steady cashflow from the Yubdo project to fund development of other Ethiopian projects. However, it is clear that to develop Tulu Kapi and Guji Minerva will need to raise additional capital. We believe that it now has the assets and the management to find support for such an equity issue. UK-Analyst value MVA at 7.5p (again pre the £950K) which includes a modest £500K for the Kyrgyzstan Licences . Add that lot together, two exciting explo projects, 51% of Platinum Plant (albeit small), 3 JV's (incl one free carried?), fives rigs that can be sold for say circa £350K to £400K and the PLX explo Licences worth say £500K, perhaps more. Plus the circa £2m cash and the shares look decent value. I also like Ambrian Capital having 40% and directors on Board. They should help promote profile if MVA make discovery worth shouting about and hopefully inject something else before cash pile disappears should Ethiopia prove disappointing. |
Posted at 13/9/2007 13:45 by ghhghh Was Palledex when I foolishly recommended it here at 6.5p several years ago. After poor explo results in Kyrgyzstan, Ambrian Capital injected its African assets and relisted as Minerva 10th July with cash over £1m (had £1.6m at 31st March according to last published accounts).111m shares so cap £5m at 4.5p. Assets comprise: Extensive Ethiopian explo acreage but to keep it simple, two current projects: Tuli Capi Early days but drill results encouraging so far. MVA hoping for at least 500K ozs with 1 m ozs a possibility. Currently drilling with more drill rigs imminent so should be exciting next few months re newsflow. Guji One trench returned 68.5 metres @ 9.6g/t gold. MVA immediately drilled 3 100m m holes underneath this trench but missed the source. After re -interpreting the data, they now believe target angled away from trench so revised drill programme imminent. My impression from MVA over last few months has been that pleased with progress at Tuli Capi but Guji was the potential pant wetter. Remember two prospects only 7km apart so can easily be serviced by same Plant. 51% of local Platinum Mine IMO small potatoes. Might increase production to 400 ozs p a but can't see Company making potential Lake Sonfon JV Gold Projects, Sierra Leone MVA have 24.5% free carried? with joint venture partners Golden Star Resources and Mano River. Lake Sonfon JV Diamond Projects, Sierra Leone MVA have 50:50 JV with Mano Resources York Platinum JV Exploration Project MVA have 80% in joint venture with Jubilee Platinum. Jubilee has identified an extension of an existing platinum/palladium mineralised reef on the 105 sq km licence. Kyrgyzstan Licences Palladex's old Licences. Am told discussions to sell ongoing (albeit with another party) and price could be material. Drill Rigs Own 5 drill rigs operating in Kyrgyzstan. Seems logical to sell since good market. My understanding is Book Price around £400K. Today's £950K windfall In view of £5m market cap, a tax free £950K cash injection very attractive and greatly strengthens balance sheet. According to yesterday's UK-Analyst Tip (ie before today's Announcement): Minerva's cash reserves at the moment stand at approximately £1 million. This will allow the company to continue its exploration campaign at the Tulu Kapi, Guji and Yubdo projects until the third quarter of 2008. It is expected that by that time there will be positive steady cashflow from the Yubdo project to fund development of other Ethiopian projects. However, it is clear that to develop Tulu Kapi and Guji Minerva will need to raise additional capital. We believe that it now has the assets and the management to find support for such an equity issue. UK-Analyst value MVA at 7.5p (again pre the £950K) which includes a modest £500K for the Kyrgyzstan Licences . Add that lot together, two exciting explo projects, 51% of Platinum Plant (albeit small), 3 JV's (incl one free carried?), fives rigs that can be sold for say circa £350K to £400K and the PLX explo Licences worth say £500K, perhaps more. Plus the circa £2m cash and the shares look decent value. I also like Ambrian Capital having 40% and directors on Board. They should help promote profile if MVA make discovery worth shouting about and hopefully inject something else before cash pile disappears should Ethiopia prove disappointing. |
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