Member Info for Chesycustard

"Metminco will hold its interest in LCH indirectly through Hampton Mining Pty Ltd ("Hampton Mining"), a wholly owned subsidiary of Metminco."

Hi mate, in my view that's not quite right. The sharesholders are not us, the shareholders are Metminco. So my take was that after each tranche Metminco can take a special dividend (or similar) and those funds are then metminco's. I.e. we use this as funding to develop mira, drill testo and do a moll deal. However it really is not clear. Ps. I had a little boy on Friday! :) All only IMO, GLA

3m bought on the ISDX at 0.19. This is now maybe being stepped up ready for the CD cap funding announcement due this month or early next, hopefully funding clarity re mira too. IMHO return to a sensible value soon. Cud, manu get back in, your obviously both back sniffing around for a reason ;) DYOR, GLA

Akhtar, I am happy to join you guys and speak to the board collectively. Should I drop Eric a private message on advfn?

Come back as well cud! There is plenty of value here vs. Mk cap, you know it. We don't have all the details of this deal yet anyway. Costs reduced with farm out and big Tim gone. Upside at mira on plan (which may yet involve the LCH,) plus lots of potential upside at Teso.

Come back to us Manu, you will feel better. Get a chance to make your loss back. Granted the Los calatos deal could have been on better terms but it's now getting moved along, we will get 30% in a few years of the sale, rather than it sitting there for goodness knows how many years being a drain. I am bullish here waiting on clarity re mira plan. DYOR, GLA

And back to 3 cents...

Up in AUS this morning, hopefully we keep stepping up back to where we should be.

Well they do like to tease us. Really not clear but seems there is a couple of different possibilities, one that there is a way cash can pass back after 6 months between the co's, the other that the whole thing gets wrapped up much quicker than expected and we get 49% of the whole sale. I am confident that the bod are doing well in the background, just we haven't got the full picture yet. It seems finer points are still being fleshed out. Hold and maybe a cheeky top up now IMHO, GLA.

Thanks Eric, moll won't be our funding solution by the look of it for the gold mines.

Mollacas has an NPV of $74.9m done in 2014 (7 years.) Taking into account commodity prices and selling it outright you would hope £25-30m. Updates good today, hold strong here IMO. Agree that the brokers need to pull their fingers out!

Akhtar you can private message on advfn. Eric is on there too. If you put an email on here is will get removed quite likely. Ps. What's your take on the resignation today?

Even if profit is only a third of that it's still double the value of the Co in earnings in one year. Where is coverage from our broker to wake the market up!

Yeah something along those lines re the voulme, but there is silver too remember. Not sure how you calculate your sales revenue though. Someone like potluk or snicket can maybe analyse the figures further? Also the count on advfn seems clued up on crunching the mining data. Anyone got an estimate on this?

I think the grades were great and they confirm the asset, also that we still don't have them priced in yet. However it can be seen as a mixed bag because headline figures lower, albeit better cut off, see below article extract. Market is dubious of the BOD at the moment which isn't helping, we don't have a clear funding plan imo. "Overall, the new measured and indicated resource estimates Miraflores has 832,000 ounces of gold and 817,000 ounces of silver - considerably less than the previous estimate of 1.7 million ounces of gold and 1.8 million ounces of silver. The new measured and indicated mineral resource, estimated by US-based Metal Mining Consultants, now stands at 9.2 million tonnes of ore graded at 2.81 grammes of gold and 2.76 grammes of silver per tonne of ore. The amount of ore within the resource has dropped considerably, but the grades are substantially higher after the new estimate was made with a much higher cut-off grade of 1.2 grammes of gold per tonne and because, unlike the old estimate, it is JORC-compliant, meaning it is of a globally acceptable standard."

Like a baby's arm, hehe.

Sorry what you said was more or less correct!

No feasibility bring's it up to a cost plan, that's where we got to with Los C, an NPV. The scale of this is just more deliverable, hence why it is possible for near term production but that is 2 years plus yet. However feasibility is what the market can use to ascertain value. The NI and JORC show us what minerals are there, the feasibility report shows us whether it's feasible to mine i.e. costs vs. revenue and other factors such as accessibility.

The JORC is for underground only to start. "The mineral resource estimate provided for both an open pit and an underground mining operation. More recently, Metminco requested that MMC produce a mineral resource estimate in accordance with the guidelines of the JORC Code (2012 Edition), but for an underground mining operation only, and hence a higher cut-off grade of 1.2g/t gold was applied."

Nice grades, let's get the feasibility done and we're talking.