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a good buying opportunity. no sells and mm's marked it down on good news lol. looking well cheap on assets.
I'm surprised they didn't report Cu exploration results today. Mpinga said they'd be ready by April though a lot of what he told us turned out to be baloney.
So what will be the plan going forward with the current scenario? BNC AISC $14,428 vs nickel price of $12,825 Freda AISC $1,259 vs gold price of $1,096
These look like a solid set of results and notwithstanding the pressure on commodity prices there are some encouraging comments from the Chairman's statement: 1. confident that the relationship Mwana enjoys with its host governments and with external providers of finance will flourish. 2. commodity prices will eventually stabilise at sustainable levels and that we at Mwana will manage our operations profitably despite any further price weaknesses. 3. In Zimbabwe, the government has been and remains particularly supportive of,Mwana’s efforts to boost beneficiation of domestic nickel. 4. Once the smelter is in operation our attention is likely to turn in two directions – the feasibility of re-starting the Bindura Nickel refinery and the feasibility of restarting the Hunters Road project and the financial options of such a development. 5. At Freda: by the year’s end virtually all the technical problems that had affected the milling of ore and plant recoveries had been resolved. Production has been assisted by the installation of crushing equipment ahead of the milling circuit. There are challenges but the smelter should allow us to make money when nickel is higher than $9,500 (circa new C3 costs with smelter). At 12,500 this could translate into 7,000 tonnes x 3,000 = $21m. At 14,500 = $35m. Keep an eye on the nickel price to judge our prospects, they are expected to gradually increase this year.
These now look cheap compared to a few weeks ago. Maybe this is the bottom for a while. gla.
It's a profit. By comparison to market cap it's huge!
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12442059.html
Stroan I was merely expressing my feelings having ploughed thousands into this company only to see others pick up the shares at a marginal cost of what I now own. It's comical really. I'm sure there are others amongst us with shares in the few 100 percents maybe 1000's of percents beyond where they are now. Averaging down along the way I'm sure, but eventually a line in the sand has to be drawn
I've also been in this share for a few years and think the opposite, probably for the same reasons you bought into Mwana in the first place. If you have doubts are they based on facts? You need to articulate some basis for your hunch. Shareholders deserve a little more rigour so please share your findings otherwise your comments will be seen as unsubstantiated hot air. Let's see what tomorrow brings.
Guys I've been into this share for years now! I've always believed that gold diamonds copper and nickel all to solid based commodities. With what mwana have at their disposal should really put them in the premiere league, yet I just have a doubt about the future and wouldn't be surprised if we don't all get shafted and there will be a "legal" brinks Matt played out before our very eyes!! I hope not! GL
next riser..2p+ coming. shorters gone way oversold. quality broker appointed. won't take long to see previous highs. buy and hold.
I tend to agree but taking that to its logical conclusion why is Mpinga still running BNC?
Agreed. Not only that, I am really beginning to think we have the right management in place to take the company forward. I hope investors will start to get behind them.
The Company is doing really well. The SP is vastly under rated.
We know that during the last quarter commodity prices sunk but it will be the outlook of what's to come that is the more important message. If there's further cost cuts to be made in the coming months, the SP should hold well and gain further. The more news on cost cuts the better and it will also highlight the slack under which Mpinga may have unnecessarily ran the business operations.
I hazard a guess that a lot of punters basically jumped on the bandwagon and shorted MWA via their spreadbetting accounts. Of course, those who jumped in late wanted to make a quick buck and obviously got greedy and became mischievous on various bullentin boards with the aim to try and drive down the SP. The apparent silence by MWA didn't help but when you are negotiating contracts to appoint a new Nomad, you can't really indicate anything. If things had fallen through, the outcome would have been even more severe for all investors. Since the announcement of Peel Hunt's resignation, which was about the middle of June, MWA came through with two new notable and respectable outfits in Grant Thornton (Nomad) and Cantor Fitzgerald (Broker), I think they have done pretty damn well. The whole process took about 6 weeks which when you look back at it was probably a reasonable length of time. Not only that it shows commitment on their part and dispels all those negative and misleading remarks about the new BOD, a lot of which were misguided. It saddens me to actually read that some people made regrettable decisions and sold MWA shares on the back of rumours some of which were completely idiotic to say the least.
Most of the negative commentary in the last month on boards has been at best speculative by those who are not long-term holders - we should be highly suspicious of their motives. While the new nomad/broker appointments should have been announced much earlier, there must have been good reason for it. These are excellent appointments and it's good to see them splitting the roles. I believe Cantor Fitzgerald has much greater international reach than Peel Hunt, this could be good for Asia. If we get a decent statement from the company and reasonable results in the coming weeks this will take us close to where we were - 2p+. This would then give a decent platform from which to grow although commodity prices, especially nickel, is a short term concern to our cashflow. Any decent pick up in nickel to say $15,000 would put us in a very strong position with smelter coming on stream in the next 6 months. As long as the Chinese can keep in with the politicians in Zim and DRC the future should be bright. Let's see what the next few weeks brings, we deserve a few breaks after what's happened to MWA in the last year.
Bullrun to 2p+. Can see this recover losses pretty quickly. zakmir knows the score having covered on shareprophets on sunday . expect a good Monday, no resistance after shorts closing. ATVB.
http://www.mwanaafrica.com/investors-and-media/news-releases/2015/appointment-of-nominated-adviser-financial-adviser-and-corporate-broker-07-24-2015 Impressive appointments especially Grant Thornton with vast experience in the Southern African region and the mining sector, based in Johannesburg with a footprint in most of Africa. http://www.gt.co.za/mining/
Very harsh, exactly what aspects am I deluded about? Peel Hunt being Pro-Mpinga or a possible split based on commodity? The former is true, the latter, well time will tell
£24k yersteday knew what was coming.
With due respect, you are deluded. The last time I will engage in a convo with you. Thank you very much.
I think this stock might slowly start to get to its true potential. Wanted to load up at 1.1, my avg is 2p, but did not have free funds lying around. I think a slow climb starts now.....hoping atleast :)
GT, at least I know where this company is located. Good choice. This should help remove many doubts!
Like the news . Goodbye to some!!!!!!