Member Info for Mac19

Seems victory has been plucked from the jaws of victory! Frustrating to say the least that in the 11th hour of production due to start, after a long and rocky road, further PI dilution is needed to get across the line! I know from long personal experience the Philippines is a difficult place to do business, with every official along the way wanting a piece of the action, but for the company, after all these years, to be caught out by the process requirements is, frankly, shocking!!! Heads should roll for this in my view.... Still, hopefully, looks like it is still possible to start production this year, and we may finally be rewarded for the pain along the way. Let's hope!

Good results well received. Hopefully this will put the SP back toward to levels earlier in the year. Fingers crossed and best for us all.

Hmm - so there was something more sinister after all! Further delays and a significant cost overruns, with the company now in need of 'immediate additional funding'! Someone has completely screwed up somewhere, especially given that just 5 weeks ago, the contingency fund was all but intact!?? RNS concluding 'A further announcement .......in the near future'.

All seems a bit odd, given we are only around 2 months from production and cash flow. Anyone buying at this price is in for a very healthy and fairly rapid return.......unless there is something sinister we do not yet know about! I suspect though, it is all down to the fairly significant fall in the price of gold in recent days. Regardless, the feasibility and projections have been made on $1k oz, and the price is still 10% above that. Hopefully it will not fall much more, but there is still plenty of profit given the low mining production costs. Ironically, the 5 years delay in this project mean that we have almost entirely missed the peak and it's not likely to go back to that price for many years I suspect?

Yes Evertommy - a mystery to me too. One of the few with very real imminent prospects I'd say. However, only 4% in PI's hands, and I suspect everyone is just waiting for that gold to start flowing. The Board is very poor at getting the positive message out in the market.

..more than, not more that! Sorry.

Thanks Shareminator - interesting data. Would certainly like to know what else Edison are factoring in in 2017 given it's such a big jump. Must be more that organic growth of current drug portfolio, plus milestone payment - any of the new pipeline expected for release then?

Hi Coathanger - it's in the presentation documents posted today on their website, from the AGM yesterday. Commissioning will be completed only through August, so my interpretation is production September earliest, subject to final permits. Given those final permits are the ones needed to allow occupation for production, some local official will likely sit on them... you might know what I mean! Production is stated in the presentation as Q3/Q4 - money it's nearer mid-late Q4! But it's getting there, finally......

Well, looks like I was a little optimistic on developments here! Production earliest September, likely later (given the occupation permit still to be issued - and it is the Philippines!) so we're a way off my 9p prediction pre-production yet. Still, could well be 12p by December if things stay on track and gold production has started in full flow.... Let's see, but track record of MTL has not been good to date.

Thanks for posting Shareminator - interesting. I suspect the 2017 figure factors in the $32m milestone payment for Exparel which would have hit $500m annual sales by then, notwithstanding any further problems along the way. Clearly doesn't account for all of it, and is one-off, but looks nice anyway.

Given the imminence of production, the current price must be due for a pretty quick bounce upwards as it still reflects the delays etc encountered along the way. I see this at around 9p after the commissioning confirmation (so late June, early July) and toward 12p once gold production and sales start, drifting to that level by year end. However, given the number of shares now issued, I don't see it going over 15p unless there is a significant additional resource discovery. Just my view of course. I, too, have held for many years and averaged down to 7p (from 38p) - so still under water!

Yes - looks like it! I think you'll be alright for a while at this price range, until the commissioning of the plant announcement I suspect, likely in conjunction with the AGM on 30th. Hopefully, that, and more importantly the recovery of gold a few weeks later, will lead to a more appropriate share price. It feels like there is only big upside now - though anything could yet happen, especially given past record! But it should now be fully de-risked and ready to fly soon, at least relatively speaking. You could well be in for a very nice quick return on your money.

Well, you were correct Mhinde - we have news, and it looks pretty positive! Slight slippage in schedule, but could have been worse (and I expected it to be) and gold is imminent. Hopefully this will lead to a steady rise in the share price - I see this to be around 12p by the end of the year....fingers crossed!

Mine is only that high in MTL because I averaged down over the years - my initial buy in price was 38p! Close to break even now and looking forward to the update at the end of June, which will hopefully lead to a nice, if somewhat delayed profit - for us all! Best of luck with your investments.

Good call I recon. Would do the same if I could - though already in 7 figures!

If I recall correctly, the initial funds were raised from successive equity issues over the past 6 years and the IPO, so a good proportion of the initial costs were already funded. The final requirement of $70m was raised in debt to complete the mine. So yes, this is such a great opportunity. Officially, the debt will take 3 years to pay down, but this should be quicker given the current price of gold is $200 higher than the feasibility. So, potentially this business will be cash flow positive and debt free in a couple of years - and still with the strong potential of further reserves to be confirmed, significantly upgrading the asset beyond what currently looks very nice.

I think you are spot on Mhinde - this is a great stock at a very interesting time, and significantly undervalued in my option. I have been here for 8 years - it's been a real roller coaster, but now on the brink of production and significant cash flows with healthy margins. I believe the market has got tired of waiting for this, as there have been so many delays and issues along the way, it's fallen off the radar. Communication from the company is very poor so that keeps it off the radar too. But with production imminent (though almost certainly not in June as per the last update), should fly high as soon as there is real action and gold going to the market in the next 3 - 4 months. Well, I hope so....!

It's been a bit volatile in recent weeks Mhinde - think people just getting impatient or have better options. I suspect there will be a further delay from the June commissioning of the facility, and that may be the reason. However, if I had spare funds, I would definitely be topping up at this price. Regardless of any further delay, we are still only a matter of months away from full production and strong cash flow - with revenues ahead of the feasibility plan given the current price of gold vs projections ($1.2k vs $1k).

Jasmine - you're in good company in this club! I've been here for over 12 years and it's been a very rocky road, but the future is looking pretty rosy I think! Good luck to us all.

47m sells in the last two days at knock down prices - should we be spooked???