George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Late huge trade of £73k from last Thursday just showed up. Looking at the trades around that time it appears to be a buy. Must have taken them a while to fill the order. Upwards we go!
Quite a few companies actually responding to positive RNS releases and going up over 100% in a day. Our Q1 Results RNS in the backdrop of the rising gold price will make for good reading, particularly as it will be accompanied by officially being debt free.
Q2 Results when they are released will be spectacular regarding free cash flow (providing gold stays in and around the current levels or higher), so that 'may' be the time when we get valued more realistically. Abra is such a high pay off for such a low outlay, and the fact that it is already owned in part by people connected to the company means it should be a win win for all involved.
Very happy with these small increases week by week, but being Human, I would LOVE it if we went 'walkies' one day and smashed over 100%.
Happy to hold, won't be top slicing until it does a few bags from here.
All the best
Metals Exploration's PE Ratio (f) is ranked 6th out of 45 companies in the UK Metals & Mining market. After SLP 2.6, FXPO 1.9, ZIOC 3.5, BZT 1.3 and JAY 1.3
The big trades earlier today were sells by me - I needed some cash for a building project. I still have plenty left!
I suppose it is possible that my sells may have temporarily suppressed the price, in which right now is probably not a bad time for anyone thinking of topping up :)
Darren Bowden has it in hand, he will have one or two small scale mining plants set up mining high grade targets within a year or two, he indicated they can produce similar results in cash profit to the large scale low grade mines, for less than $10 million set up costs, I see the Abra tenement being used in that manor first.
He’s indicated he wants multiple incomes.
Topped up today,i know the mine has 4years left but just imagine what the sp could be in 3 years ?
Yes, it is a big shame the life of the mine is only 4 years more now.
Hopefully they can be a ready made producing mine with the cash building now
I've topped up this morning still crazy good value.
78% since my first purchase on 22/12/23, with an average of 39%. Although that may appear quite good, I'm genuinely puzzled as to why the SP hasn't risen faster. Listed as a Super Stock category on stockp.... with a low P/E of 3.8, and qualifies for 7 of the long term screens, which is an unusually high number. Still plenty of Gold available over the next four years. Maybe its just under the radar due to its small size?
Average gold sale price for Q1 was around $2090, that’s over $100 higher than any other quarter, average interest charges of $1 million a month since we started paying down the loan is a thing of the past, so that’s another $1 million a month adding to the war chest, with gold at ever higher record prices, we are in another league today, who knows what we will spin off this year? But I can honestly see $100 million free flow being a possibility, based on $73 million free flow in 2023 at a much lower gold price and paying interest on the loan, $100 million? let’s see.
....and Gold hovering around $2500 to start off the new financial year. On the starting blocks for Tuesday.
Considering the amount of debt paid off in the quarter, we may have just closed a record quarter (in terms of $ Gold Sales). Next big event will be the publication of Annual Report, at which time I'm expecting another move up. GL longs...
Certainly looks promising for MTL with DB at the reigns. Think I’ll add some more next week. That’s an interesting link regarding the mining in Philippine, appears to be so much un tapped potential, is it likely we will see big players coming into the area?
This board is fantastic thanks all the info chaps, have a great weekend. Let’s hope the blue days keep coming our way :)
Atm
Beautiful strong finish. I was so impressed with an interview I saw a few weeks ago that I bought some MTL. Wish I'd bought more and may add. Technicals look very strong. GLA
The last two are buys.
Nice to see the Bid running up into close, hopefully we have a breakout soon, would be nice to be in one that goes UP for once.
Have a good long weekend, all the best.
Accipter
Nice one mate, good info for us, might get an idea of the scale of things once more companies start exploring here. Only 5% of the estimated reserves explored means 95% opportunity to strike it rich.
Cheers for the link, I'll have a read with my kebab later.
Here is an interesting extract from July 2023 about mining in The Philippines. It would seem that there are lots of opportunities for MTL to expand their operations in coming months and years
https://www.austrade.gov.au/en/news-and-analysis/analysis/mining-in-the-philippines-a-new-chapter
“The Philippines is one of the world’s most richly endowed mineral resources countries. It is estimated to have about $1 trillion worth of untapped copper, gold, nickel, zinc and silver reserves. Only 5% of these reserves have been explored, and 3% are covered by mining contracts.
The Philippines’ mining industry is rebounding thanks to the Marcos Jr Administration’s mining policies. Metal production increased almost 32% in 2022 compared to the year before. Total export value for 2020–2022 was US$18.7 billion or 8.51% of the country’s total exports.
The Administration wants mining in the Philippines to adhere to responsible and sustainable mining practices. It wants to strike a balance between protecting the environment, benefiting local communities and supporting the government’s socioeconomic agenda. It is especially keen to rehabilitate mined-out areas and undertake progressive rehabilitation.
These developments send a welcome signal to potential investors and businesses interested in the country’s vast resources at a time when mineral prices are high and demand for critical minerals is strong.
There are 56 operating metallic mines and 7 processing plants or smelters in the Philippines (see Table 1). The Mines and Geosciences Bureau of the Department of Environment and Natural Resources predicts there could be another 190 mining projects in the next 4 years.”
That's my view as well ppp, I first bought in Oct 2020 and added twice, in May 2021 and Sept 2021 I have an average of 2.07p so am extremely happy but very content to hold and wait for MTL to be a much bigger co. in the future. We seem to have a top class leader in Darren. GLA.
My own opinion is that Darren is going to turn this into a monster of a company, he’s always said he wants mtl to be a world class miner and so far he has delivered again and again on his promises, the future looks very rosy dyor
That's great. So still worthwhile investing here.
Regards
4 years LOM, 1.29g/t average gold recovery, 80k ounces per annum making $80 million annual income.
$5 million to close the current mine at Runruno.
Hope that helps
Hi
I haven't the time at the moment but will look later hopefully. What is the life of mine currently and the wind down and dismantling costs etc?
Cheers.
Yes, Darren Bowden has stated that the BOD are looking high grade, gold rich areas that can be mined on a small scale to ensure good cash flow during the period while the Runruno plant is dismantled and transported to the Abra tenement.