Member Info for Moneymaker2015

Braindead, considering they said it would be “end of the month” then yes your are right, they probably will wait until the end of the month to release any news…

In terms of getting an entire project up and running, it wasn’t long ago at all that they purchased 100% of the assets. Just over 3 months is actually a very short period indeed.

As Bunion says, the company stated what it was planning to do in terms of getting the projects into production and has not given the market any reason to believe this isn’t happening. Everything you say appears to be based upon your presumptions, which we all saw first hand aren’t the best, from when you sold-out saying a deal will never be achieved, then a week later said you were struggling to buy back-in after the deal had been announced.

Oh and on you 2p presumptions. It’s a good job for shareholders then that the 150m SAU shares will be coming on the market at 3.6p, as it would represent a significantly inflated rate compared to the 2p share price.

Jersey, I messaged the company on Wednesday afternoon. In response to my one of my queries, about the update they’d previously mentioned at the end of September, they said:

“The financials are due out at the end of the month so there is a blackout period until then . This is standard practice. I spoke with Aidan and there will be an update either with the financials or slightly thereafter”

As dyr says, a company is obliged to announce any price sensitive information. A general update wouldn’t necessarily fall into this bracket. Most companies tend to provide general updates alongside the financials, rather in the weeks leading up to them. In BMV’s case, it could be the current states of the prospectus, the website, refurbishing the main entrance or progress on cleaning the adit etc. All of which it has previously announced, so isn’t considered price sensitive.

BS, I’m sure you actually said:

“2p by end of week”

and

“Management in go slow for their own gains. With no news coming next week expect 2p”

I’m not quite sure why you keep trying to talk this stock down. No one is going to sell because of your comments, especially after you said you’d sold just before the deal was concluded, then had to buy back in at a higher price afterwards. You’re not exactly a reliable source for investment advice…

Unfortunately the drop back down was inevitable. It happens time and time again with broker notes when the target price is significantly higher than the current share price. The sp shoots up rapidly, but because it’s due to the hype of the broker note and not because of a change in the fundamentals, more often than not it reverts back to the pre-broker note price.

BOD is definitely on the right track and dare I say it will even hit the target price in the broker note long term. It will be news on upcoming production or exploration results that does it though.

Along with Stillwater, the NAP acquisition just under 2 years ago is another good benchmark. That had the advantage of already being in production, but had a significantly smaller resource. It went for $1bCAD, so circa £585m at today’s exchange rate. Even being very conservative and taking into account that NAP provided immediate revenue to the purchaser (Impala), you would expect EUA to at least attract a figure of 3x its current mcap, if not significantly higher.

I’d avoid trying to guesstimate a sale price based upon the resource size and today’s PGM prices, due to the constant fluctuations in price. EUA first mentioned it had been approached by a number parties 2.5 years ago, about the purchase of MT. Pd was only worth around $1300/oz then and Pt circa $850/oz. Based of the “current” PGM price at the time, this would have been worth significantly less to a purchaser because the margins are much smaller. On the flip side, 6 months ago Pd was pushing on $3000/oz and Pt $1200, so would have attracted much higher margins than it would today because that $1000/oz would all be profit.

Basically, by calculating a sale price off today’s figures you are saying the sale price is significantly lower than it was 6 months ago, which coincidentally is the same time a proposal from a credible party for the potential acquisition came in. Plus, at the same time you are saying that EUA was worth 3x more at the time of that proposal than it was 2 years previous. This is why it’s not advisable to work off a percentage of the current insitu value, as it fluctuates significantly over small periods of time.

We’re not that low. A £23m mcap isn’t bad at all for an exploration company.

It slightly frustrating as the reason for delaying an update is because they’re having a “blackout period” until the financials are released. I know a number of companies do this but I have never understood why, because it can just be clarified as events post reporting period. I expect they will opt for an update after the financials rather than with them.

Jersey, as you say, we are getting closer. The main thing I keep reminding myself here is that everything has been going in the right direction, albeit slower than I originally envisaged 3 years ago. So long as the updates keep being positive I can’t grumble too much as I always planned to hold this long term anyway.

I think they were always going to renew / keep hold of them until they’ve received the assay results. They need to know the technology works in the areas that have been drilled, before they can comfortably start letting other licence areas go.

I know it’s costly but as soon as the BoD knows it is on to something, it would be prudent to apply for any other new prospecting licences in the area prior to anyone else getting wind of it’s true potential.

Well it now appears the an operational update is going to provide with or slightly after the financials, which are due out at month end.

It’s two completely separate issues, that balance each other out. There’s been some dilution, that cannot be argued, but Lennie is correct in that the liability has been removed.

It’s a catch 22. Short term it has put MNRG in a much stronger position financially (which is essential at this transformational time). However, long term it means there’s another 25m shares on the market.

Braindead, if you had read your own article it said any affected exchanges would have to register or shut down by 24th September. I’m guessing you hadn’t checked AUSCM was still trading today before jumping to the wrong conclusion?

While you emailing the company, ask how they’re getting on with the update they mentioned at the end of September for me.

Oh and out of curiosity, can you paste your email to the FCA into this thread. It will only take you 2 seconds, but I’m curious as to what grounds you are complaining about BMV, considering your crypto exchange theory has turned out to be incorrect…

I’d had a skim through that a couple of weeks ago. I hadn’t noticed the section about spinning-off the SPV’s when they get to a £10m mcap. It will be interesting to see how it all works out. Obviously it’s look at spinning-out BritNRG next year, but MNRG is actually increasing it stake at the same point. I like the £10m mcap thought though, if he’s looking at getting each SPV to that kind of level, Rolf will have a lot of happy shareholder.

Yeh it does appear to be a decent asset to hold. I am curious to see if the intention of mining ourselves will change, if the scope has increased. Presumably, the capex will be a fair bit higher than just starting on the waste dumps.

I think that’s the issue at the minute with Gold Ridge, there’s still a lot of questions hanging over it, as to what MNRG will do with it and how much it’s worth. It may have increased in value considerably from the work Bart has been doing, but at the moment we have no idea. It’s got to be helpful though that the price of gold has increased $250/oz compared to what it was 2 years ago.

Yeh that’s what I meant by “on face value it didn’t look very appealing”, due to the expenditure during the period (I assume similar this period too). However, these are cost that will not continue going forward.

I was a little surprised the NAV was so low actually, although, it’s still well over half the current mcap. When you consider the production rate of BritNRG, the NAV will surely increase in the next 12 months, especially with the planned production increases.

BritNRG is a great asset for generating revenue, but Gold Ridge is the one I’m particularly keen to hear news on (hopefully in December). With all the work that has been done this year, the project could be worth substantially more than anyone had originally anticipated.

Nice surprise finally seeing this in the risers board. Good results all things considered with what happened in those 12 months. A lot more positive than I’d been anticipating.

On face value the results didn’t look very appealing but as you say, it was the receivables and fixed asset values that caught my eye too. Obviously we don’t know how much of the revenue from BritNRG will be pumped back into BritNRG, but if it’s operating profits were distributed to the holding companies as per their equity holdings, MNRG would be profitable (just) from the current BritNRG rate of production alone.

Out of my current holdings, MNRG is looking to be the best kept secret of them all.

I had a spare £1k in my trading account that wasn’t placed anywhere. Managed to get another 220k shares here at 0.45p with it. It’s mind boggling how low you can buy this stock for considering the current revenue of BritNRG and the upcoming revenue of EQTEC Italia.

Very welcoming news this and a very big milestone too. If you’re willing to hold for a while, HZM now looks to be a much lower risk but high reward stock.

Considering things have moved at a decent pace this year, it’s a shame there wasn’t much detail on what’s has happened post period. I think it’s fair to say though that the full year results are going to tell a much more positive story. Even more so, next years H1 results, if oil stays at its current levels.

Braindead, I don’t know if I’d class it as ramping: me saying that I emailed the BoD for an update and was informed they’re looking to get an announcement out at month end with current progress. I don’t know what’s being announced, so could ramp or de-ramp about it. Oh and if you had actually read what I’d said about my messages to the company you would realise Aidan Bishop wasn’t involved, so I’m not quite sure why you keep mentioning his name.

By all means report me to the FCA. Just out of curiosity, what do you think they would do with your complaint?