Member Info for BlackShepard

Gold producer in the Philippines, Metals Exploration (MTL) has announced quarterly results, including noting production challenges but also that it believes it is well placed for the second half of the year.

The challenges included reliability issues with the company’s equipment fleet and delays in sourcing certain essential replacement parts and not having full access to certain areas. However, it still delivered 16,591 gold ounces in the quarter and $5.5 million free cash flow (average realised gold price $1,807 per ounce), with net debt reduced by $1.7 million to $111 million.

We previously noted clear risks but also clear opportunity and that looks to remain, including with equipment investment and continuing to work with the local authorities to complete the process of removal and resettlement. Those offer some confidence of a re-acceleration of free cash flow – there was $11.5 million in the first quarter – to make the current market cap of £30 million, with the shares at 1.45p, look cheap.

As noted on recommendation earlier this year, we reckon this is a well over 6 years mine and that the 3.25p share price reached in October is realistic. Therefore, this is a tip to average down on and still a great risk/reward buy.

Excellent RNS, I’m very pleased to have a holding here

Revising my incorrect initial post on the amount of aggregate - we are looking at approx 1100 grab lorry loads per 20000 tonne. Even if there is only very fine grades of gold found within, this could amount to quite a substantial total in gold. If would be good if during the initial stages of the processing, we are advised if gold has been found. This could be the turning point here.

Beg your pardon kitty you are correct - not sure how I got that wrong!
Standing corrected, we are looking at a vaste amount of aggregate to be processed.

20,000 tonnes is just over 1 tipper / grab lorry of material - so approximately 7 loads of material are being looked at. This shouldn’t take too long to move with the use of a digger and dumper - if the material is relatively accessible.
If the individual pieces of rock / aggregate are quite small, this in theory shouldn’t take long to crush and put through the processing plant.
Assuming that all this left over rock is from the same source, I see no reason for the need to evaluate individual areas of this rock, so they should be able to pile it up next to the processing plant and start work almost straight away ?
I would’ve thought it’s almost certain some grades of gold will have been left behind - years ago the gold was probably picked out by eye, or washed out. This is a successful method if the gold is plentiful, which its proven it was, so I’m confident the finer grains will be caught, now we have a modern method of extraction with our processing plant.

It’s not a bad RNS, it’s an update. Yes we wanted assay results from the bulk samples, but predominantly we just wanted to hear what’s going on, it has been quiet for too long regarding clogau.
They are an exploration company and that is what they have been doing, and are continuing to do. Even though the processing plant is relatively small, it still requires some dialling in and this has taken time, as well as perhaps learning to adopt the best methods in which to use it to its greatest effect. Clearly this has been an issue that they have had to overcome, again this isn’t bad news, it’s just honesty.
Has it been a slower, longer process than I hoped, yes. Am I disappointed there are no results from the bulk samples, yes, but they are busy and things are happening. Rome wasn’t built in a day and they aren’t going to hit great chunks of gold every time the drill bit goes in. I think if there is a drop today, then it is a great opportunity to top up or buy in, and hold. The dewatering of the mine will also open a new door, and this application will hopefully be granted soon.
We asked and asked George for an update, and he has given us one. I think we have plenty of good news to come and plenty of reasons to hold or top up.
Just my opinion of course. Gla

Agreed, wasn’t expecting this as the next Rns to come out. Are we ever going to get these assay results ?

I’m disappointed in Alba I must say. I’m sure they are busy, but even a brief update would have been good today if the assay results are not complete.
Maybe I’ve grown inpatient due to watching gold rush over the years with Parker chewing up 400 yards an hour haha !!

I fully anticipate an Rns either tomorrow or Tuesday morning, probably Tuesday, at the very least to give us an update, but hopefully to give us these long awaited results. Alba are fully aware that there are a lot of lth here with substantial investments, who have been patiently waiting for these all important results, me included.

I’m locked and loaded ready, let’s hope our faith pays off in assay results due. I’m quietly confident...

Just mm’s playing games.
Less experienced investors probably panicked at the price starting to drop and sold so as not to lose the profit they’ve made.
Mm’s gobbled the shares up cheap and will be parting with them for much higher very soon. I will be surprised if this isn’t back up by Monday / Tuesday.
Lovely big buys today

Star - hopefully we will hear a bit more from him now !

Iky - No one ever knows if it’s a buy or a sell other than the person who books it, those systems try to predict what way it is but they are just guessing, funny they don’t say it’s a guess

Good evening all.
I’ve been reading all the posts here with great interest. Have also just searched up some of Tedoby’s posts in feb 2020, which really does make for interesting reading.
I’ll be honest, I’ve been successfully trading this all week for small gains, but decided to hold today after the good news. Really excited about the prospects here. What a great informative board. Thanks guys

Looking forward to the prospects here.
Onwards and upwards
Good luck all

Another great update, I missed the rise today I’ve only just seen it. Lovely to see a nice increase.
As George say’s, “you keep hitting them, you keep going”....
They’ve definitely found something...

Just came across this on Stockwits, I follow OCGN on there... Looks like your plan worked ha
I might buy some tomorrow and see what happens. One day it could make us all rich lol

Haha good point DM
That made me laugh !

Fantastic prospects here. Just topped up another 310k shares

Good morning all, hoping for an exciting week here. Plant gets fired up this morning, 36t to process, surely by Friday results of this will be out. Exciting week for gf and the team. Exciting week for all holders, especially lth such as myself.
Right, off to work now. Stay safe all ...