Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Cash burn has been reduced to just £70K. per half year, and cash at the end of September was £539K. ... fifty six per cent higher than MMO's market cap. (£345K. at 2p).
Relatively big volume today: over 3% of the shares in issue traded. The strong intra-day reversal back up (from the fall to 1.625p) is a bullish sign. Virtually all of the 295,343 shares sold were hovered up by buyers, and there can't now be much stock available. Price Price Change [%] Bid Offer Open High Low Volume 2.00 -0.125 [-5.88] 1.75 2.25 2.13 2.13 1.63 573,153 Market Cap. [m] Shares In Issue [m] Beta EPS DPS PE Ratio Yield 52-Wks-Range 0.34 17.23 -10.66 -4.00 - - - 7.50 - 1.00 Time/Date Price Volume Trade Value Type 16:13:44 30-Dec-2015 2.00 10,000 200.00 Ordinary trade 16:05:05 30-Dec-2015 2.00 50,000 998.65 Ordinary trade 15:32:13 30-Dec-2015 1.95 50,000 975.00 Ordinary trade 14:09:23 30-Dec-2015 1.85 28,905 535.47 Ordinary trade 13:58:42 30-Dec-2015 1.75 10,000 175.00 Ordinary trade 11:17:08 30-Dec-2015 1.73 100,000 1,729.80 Ordinary trade 11:01:35 30-Dec-2015 1.73 28,905 500.00 Ordinary trade 10:07:06 30-Dec-2015 1.68 95,343 1,603.48 Ordinary trade 10:06:16 30-Dec-2015 1.74 200,000 3,485.40 Ordinary trade http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/exchange-insight/trade-data.html?page=0&fourWayKey=GB00B979BX21GBGBXASQ1&formName=frmRow&upToRow=-1
get back on the booze mr trader-mick i dont even know what they do apart from lose money and invest in companies with zero value
here mr trader-mick
Indeed, but they still have and receivables of in excess of £1m versus an mc of a third of that so still see value here, discounting the current investments.
'Incestuous investments' can actually be a GOOD thing for arranging a RTO, because this can ease the way: i.e. the same people have influence/control over both sides of the deal, so an accommodation is more likely. Is something of this nature on the cards here? And does this explain the buying over the last couple of days?
MMO's micro cap. of just £0.37M. means that IF it has a RTO (reverse takeover), then a bigger uplift is more likely than otherwise. E.g. if the RTO vehicle has a £2M. share of the enlarged equity, a shell already valued in the market at £2M. will have no uplift based on the RTO value. Whereas one currently priced at a fifth of that should rise five-fold. In MMO's case its NAV is multiples of the current share price, and it's likely that an RTO value would reflect that.
I would think that the interim results will be announced next week - perhaps on Monday - and perhaps in the afternoon as with the last three years: 18/12/2014 17:41 UK Regulatory (RNS & others) Mercom Oil Sands Plc Half Yearly Report 19/12/2013 17:11 UK Regulatory (RNS & others) Mercom Oil Sands Plc Half Yearly Report 21/12/2012 16:18 UK Regulatory (RNS & others) Mercom Oil Sands Plc Half Yearly Report And in the meantime MMO has risen for two days running, closing for the weekend in third place on the top risers list: LSE % Gainers Top Lists EPIC Name % AGQ Arian Silver +40% ZOX Zincox +35% MMO Mercom Oil +31%
According to TDW interims are due TODAY ? Or estimated based on 2014 So news SHOULD be imminent !
Not sure why shares are being bought i suppose its something to do with recent RNS. Company has yet to announce any kind of deal which has frustrated investors so tree shaking them out was done. If only they would be clear about what they intend to do with the cashpile they have? Wonder if more shares will be bought today?
a few being bought on the quiet this last couple of days after the drop on Wednesday. Value seekers or something occurring?
Could MMO investee company Maverick Petroleum RTO (reverse takeover) into MMO? If so, then MMO could be the next CEB - a ten-bagger within months. 31 May 2015 "Mercom Oil Sands(“Mercom”) MMO Maverick Petroleum Ltd has inked a deal with the Chad Government The discovery of oil in commercial quantities In Chad,two landlocked African countries in the Lake Chad basin, has renewed the interest of other countries, particularly Nigeria, in the basin and other inland basins. This is a positive development that could lead to increased global production. According to the 2012 BP Statistical Energy Survey, Chad has proven oil reserves of 1.5 Bbbl. Other studies establish the prospect of more reserves, and Chad has become one of sub-Saharan Africa’s significant crude oil producers. Chad’s oil is largely from a number of fields in the Lake Chad basin and in the Doba basin in southern Chad near its border with the Central African Republic. The Doba basin’s oil fields are estimated to contain reserves of about 1 Bbbl of crude oil. The China National Petroleum Corporation (CNPC), Sonatrach, and Petronas are some of the foreign companies prospecting for oil in different parts of Chad. A consortium led by ExxonMobil is in charge of developing the Doba basin. Development also is going on in the Bolobo field as both the Kome and Maiandoun fields are fully operational. Maverick Petroleum Ltd., has inked a deal with the Chad Government for the development of Sidigui Oilfield and establishment of a 10,000 barrels refinery. Sedimentary structures and other analysis show that Sidigui sands were deposited from fluvial to shallow marine waters. A faulted dome structure, the Sidigui field, contains several staked pay zones, reservoir rock is good quality sandstone with porosities ranging between 200 md and 500 md. Oil, gas and condensate. Sedimentary structures and other analysis show that Sidigui sands were deposited from fluvial to shallow marine waters. A faulted dome structure, the Sidigui field, contains several staked pay zones, reservoir rock is good quality sandstone with porosities ranging between 200 md and 500 md. Oil, gas and condensate exist. Oil gravity is nearly 48A[bar] API and condensate gravity varies from 50A[bar] to 52A[bar] API. Determined to guarantee that the latest quest for a significant oil discovery in the Chad Basin meets success, the Minister of Petroleum Resources Mrs. Diezani Alison- Madueke has asked the Corporation to put it all efforts in its push to strike black gold in the potential Chad Basin." http://www.*****************/mercom-oil-sandsmercom-mmo-maverick-petroleum-ltd-has-inked-a-deal-with-the-chad-government/
Askia's website provides a link to its page on the ESE exchange. Here's some of the content, which suggests that the company could capitalise on stricter regulation on Africa to protect the environment: "Askia Gold is a long-standing exploration company with years of expertise and local knowledge in many African mining countries. With changes in legislation and a keen eye on the market, Askia moved into creating a blueprint to assist other mines with Equipment, Taxation Regimes, Local Integration Tools and Financing." "News Askia Gold converted its Gold Mining assets into testing areas for its revolutionary Gold Washing plants. In time and in tune with sweeping regulation changes in many African countries, Askia has developed a washing plant that is efficient, robust, with no moving parts." http://www.europeanstockexchange.com/#!ask-ese/caea And Askia's website states that it has a partnership arrangement with a major mining company ... which suggests that it could be working with Sierra Rutile on its new mine development: "Sierra Leone Askia Gold has developed strong links between the Sierra Leone Government, principal Chiefs and local community leaders in highly productive gold production areas. Askia Gold has entered into a partnership arrangement with a major mining company, investors and equipment manufacturers." http://www.askiagold.com/#!opps/c1mya From Proactive Investor: "Sierra Leone's mining industry moving on from Ebola 12:07 21 Apr 2015 Today's approval for specialist minerals group Sierra Rutile to kick-start a new US$77mln mine project in Sierra Leone marks a turning point for the company but also a country, which has been rocked on its heels by the Ebola crisis. ..." http://www.proactiveinvestors.co.uk/companies/news/68245/sierra-leones-mining-industry-moving-on-from-ebola--79513.html "Sierra Rutile is a leading mineral sands producer, with significant production expansion underway" http://www.sierra-rutile.com/
MMO's largest investment was the £400K. invested into Lion Natural Resources, which has holdings in two companies: Askia Gold Ltd. and Advance Gold Corp., both of which look potentially very exciting. 1. ASKIA GOLD "Askia Gold has finalized its gold mining equipment and financing plans to supply mines with efficient eco-friendly washing plants. Mining companies today have to be concerned about contamination. Most government organizations need to recognize the hazards and adopt new eco friendly gold concentrators and green-based gold mining technologies as a standard. The mining industry is now eliminating hazardous products or waste materials that are commonly used in many mines especially in Africa. Askia gold mining products and equipment only use water and the flow of a natural river, not even vibration. All aspects of an Askia unit are eco-friendly, thus avoiding the need for a chemical permit, issues with government agencies, hazardous waste disposal costs, and most importantly, the extreme environmental issues connected with chemical extraction of gold." http://www.askiagold.com/ 2. ADVANCE GOLD CORP. "KAKAMEGA PROJECT African Barrick Gold plc. ("Barrick") has 51% and the right to earn 75% equity in the Kakamega Project, which comprises the Rosterman, Burkura, and Sigalagala Projects in Kenya, East Africa. Rosterman SL267:The most northerly of the three licences hosts the historic Rosterman mine, which is reported to have produced in excess of 250,000oz Au at average grade in excess of 13g/t. Click here for MAP Bukura SL265 and Sigalagala SL266: The southern licences host numerous significant historical colonial mines and areas of active artisanal mining." http://www.advancegold.ca/s/home.asp Listed on the Toronto Stock Exchange under the symbol AAX http://web.tmxmoney.com/quote.php?qm_symbol=AAX
MMO directors having been paying themselves in shares recently to conserve the company's cash, effectively therefore buying shares ... and at about double the current share price or more: 22/10/2015 14:00 UK Regulatory (RNS & others) Mercom Oil Sands Plc Issue of Equity "The Company announces that it has issued a total of 1,782,294 New Ordinary Shares in settlement of director fees and other advisory fees and charges. Of these shares, 523,415 New Ordinary Shares have been allotted to Kyle Appleby, a non-executive director of the Company, at 3.63p per share in settlement of fees charged under his letter of appointment. The remaining 1,258,879 New Ordinary Shares have been allotted at an average price of 3.97p per share in settlement of advisory fees and charges. These fees and charges have been settled in shares in order to preserve the Company's cash resources. ..." 06/05/2015 15:00 UK Regulatory (RNS & others) Mercom Oil Sands Plc Issue of Equity "The Company announces that it has allotted a total of 3,034,886 New Ordinary Shares at 4.625p per share (being the mid-market closing price at the close of business on 5 May 2015). Of these shares, 440,291 New Ordinary Shares have been allotted to Patrick Cross in settlement of director's fees and expenses of GBP20,363 for the period from 1 July 2014 to 30 April 2015 and 2,594,595 New Ordinary Shares have been allotted to John Zorbas in settlement of invoices totalling GBP120,000 in respect of his consultancy contract with the Company, for the period 1 April 2014 to 31 March 2015 and are being settled in shares in order to preserve the Company's cash resources ("the New Ordinary Shares")...." So what are they saving the company's cash for? Well, the company's final results in September said this: 30/09/2015 17:24 UK Regulatory (RNS & others) Mercom Oil Sands Plc Final Results " ... No further investments have yet been made, but the Company is continuing the process of identifying investment opportunities which match our strategy, and of evaluating the potential profitability and risks associated with them. ..." MMOs' interim results should be out next week, and it will be interesting to see if any progress has been made.
2015 ten-bagger CEB (CEB Resources), recently renamed Andalas Energy and Power (ADL), is another such example. And the ideal time to be buying is when no one is interested, which is why they are at that level. From the ADVFN thread "CEB Resources with Charts and News (CEB)": h2owater 11 May'15 - 12:45 - 49 of 1137 0 0 "Map 1.7 m only" moreforus 11 May'15 - 12:46 - 50 of 1137 1 0 "lol it was 300k last month and no one gave a rats arse...." http://uk.advfn.com/cmn/fbb/thread.php3?id=32721796&from=1127
Top riser today FTE has more than trebled, to a market cap. of about £1M: LSE % Gainers Top Lists EPIC Name % FTE Forte Energy +355% Price Price Change [%] Bid Offer Open High Low Volume 0.03 0.0195 [354.55] 0.02 0.03 0.01 0.04 0.01 3,987,671,219 Market Cap. [m] Shares In Issue [m] Beta EPS DPS PE Ratio Yield 52-Wks-Range 0.99 3,975.00 0.67 -0.17 - - - 0.60 - 0.00 This shows the potential of oversold resource stocks like FTE and MMO, valued at under a third of a million pounds.
From MMO's website: "Our Strategy The Board’s strategy is to pursue its investing policy to acquire a diverse portfolio of direct and indirect interests in the natural resources and energy sectors, with a focus on oil and gas. The Board’s principal focus will be on achieving capital growth for shareholders. As part of this strategy, the Board will investigate opportunities to make an acquisition which would be deemed a reverse takeover under the AIM Rules for Companies." http://www.mercomoil.com/index.html
Some cash will have been burned since the last results, but at the recent rate of reported spending current cash as at 10 December 2015 should still be higher than the current market cap. Plus MMO has the value of its investments, and the value of its listing. The company has fulfilled its investing policy, so there is no danger of being delisted for failing to do so: 18/12/2014 17:41 UK Regulatory (RNS & others) Mercom Oil Sands Plc Half Yearly Report " ... As a result of these investments, the Company was deemed to have implemented its investing policy for the purposes of Rule 15 of the AIM Rules for Companies. ... " And from a market cap. of just £320K., the downside looks limited, whereas any good news could see this soar. It could for example be a very attractive RTO (reverse takeover) vehicle.
A memo that MMO is looking oversold: valued at under a third of a million pounds, barely half of MMO's last reported cash: 1.875p, market cap. £0.32M. MMO's final results just over two months ago reported net asset value as 12p per share, over 10p per share (540%) higher than MMOS's current share price of 1.875p, and sounded relatively upbeat and confident: 30/09/2015 17:24 UK Regulatory (RNS & others) Mercom Oil Sands Plc Final Results " ...On 16 July 2014 the Company announced that the Board had decided to proceed with the share capital reorganisation approved at the General Meeting of the Company held on 24 May 2013. This reorganisation, which was completed on 31 July 2014, effectively consolidated every 50 old Ordinary shares of 0.1p each into one new Ordinary share of 0.1p each. The Board considers this will facilitate future investment decisions, and has placed the Company in a position to implement its investment strategy with increasing confidence. No further investments have yet been made, but the Company is continuing the process of identifying investment opportunities which match our strategy, and of evaluating the potential profitability and risks associated with them. The annual audited accounts accordingly show that the Group had cash reserves of GBP609,450 at 31 March 2015, after corporate expenses of GBP275,000 had been incurred during the year (2014: GBP480,000). Net cash used in operations amounted to GBP108,019 (2014: GBP583,014). Our net asset value decreased to GBP0.12 per share from GBP0.17 per share in the previous year. Net assets value at 31 March 2015 was GBP1,428,492 compared to GBP1,818,865 as at 31 March 2014. The decrease was chiefly the result of the cash used in operations and the GBP200,000 impairment recorded on the investment in Lion Natural Resources Limited. On 16 May 2014, the Board accepted the resignation of Albert Taubi as non-executive director, while expressing its gratitude to Mr Taubi for his efforts to promote the interests of Mercom Oil Sands Plc since its incorporation. Despite the challenging environment in the resources sector, the Directors continue to believe there are opportunities to create value for shareholders. ... " MMO's interim results are due by the end of this month; they were released on the 18th. December last year: 18/12/2014 17:41 UK Regulatory (RNS & others) Mercom Oil Sands Plc Half Yearly Report.
the sale of 0.87% of the shares in issue effect a 25% drop in value.....what fooking school of economics did you tw*** go to? you MM's are right up there with bankers,divorce lawyers and MP's aint you!!! not that I give a rats A** anymore given the current value of my shares but still feel sorry for the rest of you who joined the party late thinking there was a deal to be had. GLA.
Is the Ceo really doing anything with this company?Investors have piled in here yet the managment team are not willing to let on as to whats going on! What do shareholders feel about how this company is performing? Will ceo support this fall in shareprice and give value back to investors? Is 3.5p a share a bargain ?
hahaha
Ask is rising each day recently, even without any sign of buys, including mine of a few days ago. Currently showing as 3.5p to buy and with only 17.2m shrs in total at MMO, something must be pipeline - so as to speak!
at massive supplement to sp. Shares taken at 3.65 and 3.96. Must be supremely confident of news to come here.