Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
They are spending plenty of cash without any production. The update today is awful, no light at the end of the tunnel. Fire Stifano and hire a CEO that can get this dog into production.
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...
@lee the central banks have spent the last 20 years "stealing prosperity from the future" by printing money and borrowing. Interest rates have got ahead of them and they now can't afford the interest. The markets are saying time is up on money printing and borrowing so get your house in order. Going to be difficult to do with politicians addicted to debt. Hence, hard assets like Gold are in demand.
Excuse my bad grammar, of course durrent price has no influence on EPS. What I should have said is current EPS multiple is only around 2 or 3 depending on what EPS they declare. Hope that makes sense.
All will come clear when they release the annual report. At the current price the EPS will be somewhere between 1 and 2 cents. I'm thinking a reasonable EPS multiple for a high performing gold miner that throws off cash, has a remaining LOM of 4 years and has plans to develop new ground beyond the 4 years , should be north of 10. So in my opinion sometime after the annual report is released price will be well over 10p. But as always don't rely on my opinion, DYOR
Not sure about the valuation, it will not be shown in the share price until they have some JORC compliant reserve estimates. The high gold grade quick start small gold projects are interesting. But to me more interesting is the 15% near surface long strike copper deposits. This could really be a company maker. Large copper deposits containing above 1% are very rare indeed, so this could become a monster. - Wish you all the best!
I have learned many things about Gold miners vaing been invested in MTL for about a decade. I initially bought around 6p, over the years I averaged down so my average is now around 1.8p. So now I'm very happy.
Lessons learned:
1) It can take 10 to 15 years for a mine to become profitable after initial funding. (These are etremely slow burners)
2) Most likely there will probably be more funding required that will include dilution and debt.
3) I underestimated the difficulty of the Biox process (initial gold recovery ~ 50%)
4) Initially had an inexperienced team managing a "do it yourself project" (in the end it cost them more, they should have started with seasoned professionals).
So in conclusion, next time I chose a miner it will be in full production, with it's full financing in place and managed by experienced professionals.
I'm happy now but for a long period I feared I had lost my whole investment.
7.25p is a new all time low, everyone invested in this is now underwater. Time for the board/majority shareholders to take action and sack Stifano, to be replaced by somebody who knows how to get a mine into production!
Do your own research, but as soon as this shows any liquidity I will be out of it and will put more cash into MTL. A much better story. I made a mistake investing in GAL, I never like investing in mining a company run by accountants. But I still bought. My mistake, I'll get out as soon as I can.
I don't believe Stifano ever intended to mine this asset. He was appointed to make a quick buck by selling the mine. Well it seems that went pear shaped. Also, what are they doing wasting money (that they don't have) buying land and drilling in Scotland?
Stifano needs to be fired to be replaced by a CEO who knows how to get this asset into full production. The man is a disaster, extra drilling means nothing when you have plenty of Gold available to mine already. Is this an exploration company or a miner? Somebody needs to decide quick before they go bust due to Stifano's inactivity.
If prices stay around here, then when the full year accounts are published, it's looking like the EPS will be higher than the stock price. Not sure I have ever seen this before in a profitable company that is throwing off high amounts of cash!
Runruno has been a very difficult project from the start and I suspect that if Darren had been involved from the beginning the project would not have gone ahead. However, during the project's darkest days we were lucky to get Darren. Together with a good team he turned the project around. Now it's going to get interesting as I'm feeling that with new projects hand picked by Darren, we are now onto a winner. Setting up new mines from scratch is his forte and I'm sure that with his knowledge and skills we are stepping into a golden future. Next 12 to 18 months are going to see a big re-rate of the stock price. GLA!