Member Info for LiqMyAce

You clearly have no idea how to value a mining stock (BMV). They have very little Gold and no money to mine it! Where MTL is all set, mining process is up and running, delivering a strong cash flow from 70 to 80k ounces per year!

Looking forwards over the coming months to a stream of good news, in no particular order:

1) Settlement of interest rate dispute

2) Annual report and balance sheet

3) Early results of Abra prospecting

4) Q2 results

Took a loss on another stock to get some more of these under 5p. Interesting my trades are not showing up accurately on the LSE they were:

Buy 438,302 @ 4.648

Buy 82,363 @ 4.659

Buy 8,583 @ 4.6599

The shares are in my account but not seeing the trades on LSE?

Rather than sit on dead money here I took the loss and moved the cash into something else. Newbies beware, don't believe a single word Stifano says. He will misslead you.

My biggest worry is Darren Bowden quits over this. The major shareholders should not allow their own greed to skrew up the opportunity Darren is setting up for them. With his successful track record Darren would have no problem picking up a plum job with less hassle than this one.

Stifano receiving a million options for doing nothing is disgusting. They raised the money to get into production over 2 years ago and still no production or even mention of it. I will be calling Stifano out at the AGM!

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.

New Chairman is not running the show, Darren Bowden is!

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...

Looks like some year end tax sells (not necessarily tax losses) going through, expect this to continue through until the end of the month.

@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.

Suggest you read my post properly before disparaging it.

We have a nice Flag pattern on the daily confirmed with volume (bullish). I prefer fundamentals to technicals but I like the technicals to be with me too.

All this new Chairman needs to do is stay out of Darren's way. I'm sure Candy views Darren as the driving force behind this company and Darren's decisions should be final.

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!

It varies a lot, but I would say for the good profitable companies it is in the range 10 to 15 with some higher than that.