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Good to know that soil sampling programme by Liontown has commenced, that MILA are studiously assessing other opportunities beyond KVP and that the cash position is sturdy.
Red today but only 10 trades.
Let us see what price action we get once Lionstown start to do their exploratory drills and share results
Blue
I'm hoping for days when we will see 800+ trades. Call me a dreamer...
There’s no need to be so rude Roger. Until Thursday, which saw a massive increase in volume here, we were generally only seeing two or three trades a day and none at all on Tuesday. Yesterday’s volume was therefore very reasonable in the circumstances.
12 trades today Piscator1. 'buys flooding in now'
Why are there quite so many clowns on these bbs that post such imbecilic statements?
Here we go again, buys flooding in now, so it looks like we will have some decent news on Monday.
I only want it to be a 40-bagger... ;-)
Warrants at 2p and 4.8p from previous placings expiring late 2025 must be a target here. Plus 2p warrants from the CLNs expiring in 2027.
That explains it! Very nice indeed. Perhaps we will have a fight on our hands between Liontown and Bellevue Gold! talk about prime postcode..
And then look at the maps and gold grades in this RNS from MILA: https://uk.advfn.com/stock-market/london/mila-resources-MILA/share-news/Mila-Resources-PLC-Liontown-Completes-Drone-Survey-at-Kathleen-Valley/93260928
It’s got multi bagger written all over it imo.
It’s also down to the neighbour’s recent discoveries with its market cap growing rapidly: https://www.asx.com.au/markets/company/bgl
Check out their two news releases on 18th March.
Also the fact that Gold price is rocking all time highs...
"Drilling identified a 10m wide zone of mineralisation with multiple +10g/t Au & Ag grades at Coffey, which Mila’s Chief Technical Officer, Neil Hutchison, described as “one of the most consistent and best overall gold intersections” he has seen in his 30-year career."
Erm... the fact that it was ludicrously oversold. I'm amazed it ever got down to 0.5p! Some distressed sellers will be kicking themselves soon IMO. Brutal market
Anyone know what the sudden rise is a result of. There's no recent RNS, unless I've missed something?
funded for 2 years+ and carried by a multi billion$ company in a jv agreement for lithium where mila to get to keep all the gold.
yet people on aim decide to chase ****e and get sharked by placings...
this will have its day :) 100% from here to get back to the last placing. management if you read this bb please work on your pr
Can only be a good thing for MILA
Good to read all this. Thanks for sharing, Early Bird. I've been in for a while, just waiting patiently
Many thanks Early Bird. I joined the Hive but am yet to find the Q&A on there. Seems like an absolute bargain whilst the stock is trading at such a large discount to the recent placing price though.
Q: You mentioned a promotion campaign is about to start, and as you rightly say, it’s a really tough market atm particularly in the lithium space, what are your plans to spread the word & to highlight what we seem to all see as huge value disconnect.
A: I will be working with our PR company StBrides and brokers SI Capital and Shard over the next period
Q: Lazy for me to ask this as but how much stock % do management hold? Are you guys aligned with shareholders?
A: Yes I have been investing throughout Mila’s lifetime
Q: Given the postcode of the asset & the surrounding majors, IGO, Belle Vue, BHP & Liontown. Have the company ever been approached by the likes of Belle Vue for a similar JV to the LTR one but in respect of the gold?
If not, and we do get some nice gold intersects, would the company be open to a similar deal to the LTR JV retaining a %age of the gold & an upfront cash payment?
Lastly, is this even something that could work, having LTR mine for lithium & BGO mine for gold?
A: I'll let Mark comment on the JV but in terms of gold and lithium assets in the same licence it would be a question of proximity and infrastructure. As long as the two orebodies and mine footprints wouldn't overlap then it would be OK.
Q: I understand that there could be water on the MILA license area and that this could be of economic interest to LTR. Could you tell us more about this?
A: Liontown are particularly excited about the water which they need for production and hope shortly to start drilling on the Coffey permissions which will provide more knowledge on the area for us
Q: How can Mila potentially monetise their water asset?
A: water quality in the MILA KV licence appears better for processing for LTR. It is less saline and therefore would have significant savings in terms of processing for them. The access to this water is within Mila's licence and therefore they would need to acquire it for access.
Q: Why do you think the shareprice is currently only reflecting £1m -£1.5m for the asset with JV deal attached? What steps do you plan on taking to help close the value disconnect between current value and projected fair value? For example have you thought about director buys or sourcing strategic Investors to restore investor confidence?
A: We have been waiting for Liontown to commence before starting marketing as we didn’t want to make promises in this difficult Lithium environment . Tonight is the start of a promotion campaign which we will now continue with as the work progress.
Q: Liontown were offered a $4.2bn takeover, albeit I think this was when lithium prices were much higher. I understand that their primary asset is their Kathleen Valley lithium resource. How does the size of their license area compare to MILA’s? There is clearly a bit of a value disconnect between the 2 companies 😂. I am trying to understand whether the MILA license area has the potential to contain a similar amount of natural resources as the Liontown license area, albeit clearly Mila are light years behind in terms of proving up and developing!
A: An extension to the existing LTR mineralisation is more likely. In terms of area it is possible for a similar sized orebody to occur in the Mila licence but the realistic opportunity is for a significant tonnage addition to their resource towards greater depth. LTR have a high grade orebody and it is a tier one project so any resource expansion within the Mila licence would still represent a great return.
Summary of text questions/answers as follows. You can find all the questions and answers in the Hive Telegram Group (link below)
Q: Given the issues that LTR face with the current lithium pricing environment, are you pleased with progress & speed of which they are working?
A: Yes. It is a great show of commitment from LTR and and understanding from their side of the medium to long term path for the lithium market. The Mila licence is a high priority target for them.
Q: How long will existing cash balance last?
A: We raised £2m before expenses last Nov Admin cost 12 m to 30/6/23 less capital raise expenses were £487k Liontown are covering all the current exploration cost so little overheads on top of that
Q: I saw LT we’re going to get their shares at a discount to market price but ended up paying 1p which was above the market price why was this?
A: Liontown originally invested pre the announcement they were farming in therefore wanted a discount as they thought our SP would go up substantially on the news. The SP surprised and went below our par value.Liontown were more than happy to change to 1p (premium at the time) and change their discount to a warrant at 2p in line with the placement
Q: This is what I think the market is missing. Despite the major issues facing LTR & the lithium market as a whole, the MILA asset must be held in high regard for them to push on with the work program given it’s time sensitive.
A: I guess we really need the grades & their optimism to match so we can receive the next stage payment & they can kick on again. Some nice gold grades would be a cherry on top.
Q: Roughly, what time frames would you estimate you would be in a position to have something to release to market?
A: LTR are due to push ahead with geochem' sampling in the near term. This will take a couple of months at least, possibly longer depending on permissions but hopefully by the end of Q2 we have more news. Our aim is to leverage off their detailed exploration work and let them carry the costs for now.
Q: Is MILA also appraising other assets or is the focus purely at KV?
A: Yes. The market is difficult for many earlier/post discovery projects at present and we see a clear opportunity to acquire an interest in stranded assets and advance them towards scoping and feasibility. The focus is on key metals- Copper, Gold, Lead-Zinc but with an openness to newer tech metals with the right opportunity.
Q: One thing I noticed on the Corporate Presentation was an "independent valuation" of £15 Million for the project. May I ask who developed this valuation, and what methodology they used to come to this conclusion?
A: It was an independent valuation by the accountants in the prospectus . It can be made available if required
Missed that Early Bird. Can you provide a summary of what was said? It’s clearly brought some new money in here today.
*7pm