Mwana Africa Share Discussion Threads

[lucky punter] 16/2/2015 08:37

Looks like plenty did. Still stupidly cheap on what is a recovery play. The building blocks are in place. The smelter components are arriving on site. Guess they must feel comfortable about the bond to place all those orders.
They have taken some short term finance in Zimbabwe to help them through, better that than dilution at these levels. Q4 looks to also be challenging this is a result of the shoe string restart and historical under investment. Mr Ning must be feeling rather sick by now. He is personally and professionally underwater.
A six month view is rosy however there is plenty of work to do on the smelter and the mine.

[kenone] 16/2/2015 08:33

Thought that mark down was overdone. Well done to those that had the balls to buy more !

[lucky punter] 16/2/2015 08:32

Despite my best efforts I was limited to just£2000 worth at 1.4p. Mm got it so wrong after the screw up the other day. I wonder if they have any stock left.

[mreasygoing] 16/2/2015 08:29

Managed to buy a few.

[juju44] 16/2/2015 08:29

added back some this morning - could be going blue soon

[lucky punter] 16/2/2015 08:17

Plant only issue is buying as there is none available. Look in later.

[talkingtoplants] 16/2/2015 08:15

So lp

On Friday "the situation flushed many weak hands out and you did rather well out of the whole fiasco".

On Monday your holding is currently down circa 15%. Sounds like a good investing strategy to me.

I really hope this comes good for you, but you're gonna need more than luck.

[lucky punter] 16/2/2015 08:15

Has anyone managed to buy. Another huge fail for the market makers. I have bought two small chunks but no volume available.

[lucky punter] 16/2/2015 07:46

No improvement in January. Figures are as reported at Indaba. The smelter refurb looks well advanced with everything happening this quarter (Q4 2015). A comprehensive update that hopefully draws a line under a operationally terrible 4 months. That fully explains why the share price is currently down the toilet.
As normal for this company they have not Sat around when it comes to dealing with the problems but we will have to wait to see how effective that is.
Kalaa has very recently stated that all in for gold below $1000 oz is the target for 100000 oz pa. I don't know how realistic that is but if that were achieved it would be a real earner. As for the nickel they need the grades back and the smelter running. Given the equipment delivered and on route there must be a high level of confidence with the bond.

[lucky punter] 14/2/2015 10:42

Yes most on here read the presentation. The figures are reported by Zimeye from Indaba.

The management compared them to this quarter last year in an attempt to dress up the figures. I would much rather they just came clean so the whole market has a chance to decide.

Reality is that it will all change very quickly with scale and volume. They have achieved that scale with old and inefficient equipment with multiple breakdowns. With modern and reliable equipment that can be run around the clock they can achieve much improved results.

[reillo1986] 13/2/2015 23:24

What a bloody fiasco... Did anyone actually read this presentation... Did no one capture a copy? What did it say?

[lucky punter] 13/2/2015 22:13

That will fit in with a 0700 announcement on the AIM. Caroline did say the update will be as soon as possible. My hope is that a line can be drawn under the 3 months and explained to the satisfaction of the market. I hope there is a much improved January performance that shows what can be done with a modern mining fleet and back in decent grades.
If we get that the share price will respond.

[mreasygoing] 13/2/2015 20:32

I should say for Bindura on Monday.

[mreasygoing] 13/2/2015 20:31

Well well, trading update Monday morning at 9am.All those cheaply bought shares today too. I reckon it will be back over 2p early next week. Nice quick buck, right ???

[lucky punter] 13/2/2015 17:16

Yes I have done that but I am away and do not have access to that account. I wondered if the e mail was from Caroline as her reaction was something of surprise. I am wondering if she was surprised that the presentation went on or if she was surprised that there was undisclosed material in it. I suspect an edited version should have been posted as that one would not be for publication in the UK.

[bump3r] 13/2/2015 16:58

YesYou can put you're email address in Mwa website and they update you with news.

[lucky punter] 13/2/2015 16:44

A pleasing end to the day, buys just out weighing sells on LSE and the secondary market did not trade after 0930 this morning. One of my buys is over there, the rest are hard to call.

bump who was the e mail from, was it an automated message.

[casabella2] 13/2/2015 16:11

Good volume again today and from what has been reported the share price has held up quite well.

[mreasygoing] 13/2/2015 16:07

Remember old proverb.Never trust an African with a gold watch and diamond ring. But be wary of English Man holding copper piping.

[bump3r] 13/2/2015 16:05

I received an email at work from Mwana telling me that the presentation was on the website.That's when I posted that there was a new presentation on their website on this forum.

[lucky punter] 13/2/2015 15:10

The official line is that they had no idea that the presentation had been loaded to the website and the first they knew was when they received angry e mails from share holders. They are in South Africa and have removed the presentation as soon as they realised.
The next update will be the three months to end of December and a one month update covering January.
Clearly the three months were terrible; if they have held back for the four month it suggests to me that January was somewhat better. Something of a feedback sandwich.
As it turns out with the bond completing at the end of this month and results due from the fully funded drilling campaign for Copper we should be drifting into a news window that could add substantial value.
The dynamics are fragile and the new equipment ramp up and lower grades have done the figures no good. Hopefully January saw the equipment at full speed and the grades returned. The situation has flushed many weak hands out. Personally I did rather well out of the whole fiasco.

[caedwalla] 13/2/2015 12:28

Operating profit:

H1 2014 $12.9

H1 2015 $18.6

Just to get things in perspective a little.

[mreasygoing] 13/2/2015 12:10

Nah Bwana, I'm just thinking bent like an African.