Member Info for Punter64

MTL is less risky than THX because MTL has 2.3 million oz proven up at La India which will be going into production next year. THX are far behind MTL on that score.

Most of the difference is explained by the six week shut down, but I am surprised the gap hasn't narrowed since operations restarted, particularly as gold has soared.

Up $60 to $4311, so much for the anticipated pullback!

Pull back from what? We didn't rise!!

Gold up and a positive RNS today regarding a Director buy, yet MTL is down 5%. The only explanation that I can can up with is that there is still a background seller?

We are one year from having two operating mines (at least gor a few months!)

Usual story, feck all rise when gold soars but when it drops a little bit down we go! Always the same.

Going from memory I am not sure the Tatiana vein was wide enough to be a main target.

LMA, yes the Russians did plenty. In fact Child was able to convert all their historic drill results into a maiden resource of over 1 million oz. Basically he got that for free! Hence CNR went from 1p to 11p in 2008/9 and was the best performing stock that year. Happy days.........

He had high hopes for the Cacao vein which is largely untested but is right on the boiling zone. One drill hole hit over 10m at 10g/t.

By the end of his tenure Mark Child was talking of 12 million oz being likely for the La India district. Just needs to be drilled up.

Agreed but there is very little chance of La India failing other than a political reason. Things can change but the political situation is very stable at the moment.

Yes, the hedge is now finished. Gold up $95 so far today. Quite incredible really, but starting to get a bit irritated by the fact that we are seeing precious little lift in the sp despite the rocketing gold price. It makes no sense to me but wtfdik?

Gold has risen $500 in the last month, adding a further $35m to MTL's profits from 70k oz production. Time for a serious rerate IMO.

Yes, I think you are probably right. DB said it would be a priority once the old mill was delivered to site, to set up the lab. Not sure how long it will take.

That quote relates to La India

From the Q3 report - Exploration, geo-technical and infill resource extension drilling for the Quarter totalled 1,980 metres.' Suggests all three are happening already, so results could land at any time.

I am pretty sure they are doing both infill and resource extension drilling in tandem?

Hopefully the DFS is imminent. Should be a big rerate here when it finally appears.

Agreed sakura. Our Mcap is £402m. Compare that to THX which has a current Mcap of £492m. THX has a similar level of production and aisc and like MTL has an equally limited mine life left. They are drilling for mine life extensions and on other promising tenements, but MTL has vastly superior reserves and we are progressing a new mine build due to start operations next year. The difference is stark and MTL is very undervalued compared to THX. They are based in Nigeria and other West African countries, so probably just as risky as the countries that are operating in. MTL is due a big rerate IMO.