Member Info for Ritchtea

does it mention a placing? Come on guys, a suspension? Would they halt trading for a placing? They didn't halt trading when the Ruukki deal fell through and the shares fell off a cliff, lets remember the board aren't into protecting investors.

My, my............I hope you two aren't up to something fishy??? LOL! (Do you see what I did there?!!) Yes, my CFD is long and I would expect that SLV could well be back up at 45p if TDW are taking a week to set up your trades H. Mrs T ;-))

I've just opened a CFD on SLV on IGmarkets.co.uk....very easy.

How on earth can you be in profit at a bid price of 43p........??? How did you buy lower than that, who's your broker?? Whoever it is I want their number!! Mrs T ;-))

I've heard a theory, and it is JUST THAT a theory, no basis in anything but speculation. What if Fontana turns out to be a duster and they are holding good PEN 104/105 numbers to soften the blow to avoid a 'Gazzetta' like tank? I don't know........really I don't. I was holding a decent profit so I took it. After Gazzetta I'd prefer to watch from the sidelines, good or bad... good luck whatever you do! Mrs T ;-))

What do you reckon to this AST RI scenario? Are you still in? Call me a sceptic but I smell a rat. Mrs T ;-))

Plastics Capital (PLA, 39.5p, £10.6m) Interims to 30 September 2009 reports a 6% decline in revenues to £12.9m (H109: £14.9m), a 140bp improvement in gross margins to 40.5%, an 11% decline in adjusted PBT to £1.6m (H109: £1.7) and an 18% fall in adjusted EPS to 4.9p (H109: 6.0p). The cash generative business has reduced net debt to £18.2m (FY09: £19.6m). Although these results seem poor, the group has made substantial improvements in PBT in comparison to H209’s £0.27m – the group is benefiting from the cost rationalisations and the weak sterling. The current order book is stronger, but customers are cautious about their prospects in the coming months. Plastics will focus on taking advantage of the weak sterling to drive product innovation and expand sales representation geographically to generate organic growth. Acquisitions have been put on hold for the short-term. The group are keen to reduce net debt. Their broker continues to forecast 2010 PBT of £2.8m and EPS of 7.5p. The stock trades on 5.2x due to the serviceable £18.2m of net debt. Since our buy recommendation on 21/09/09 (share price 25.5p), the share has risen by 55%. We retain our BUY recommendation and upgrade our target price from 33p to 49p.

Renewable Energy Generation (RWE, 68.25p, £70.49m) Finals to June 2009 saw revenues of £5.6m (£3.5m) with a pre-tax loss of £2.35m (loss £0.89m) and the group declared a 1.5p (3p) DPS. The group ended the period with 21.3MW of operational wind farms in the UK with another 16MW due for completion in 2010. In addition the group has 1.2MW of bio-power assets operational with the first commercial contract signed. The group is well placed to take advantage of the UK’s increasing requirement for alternative energy, especially following the sale of its Canadian wind assets in October. On the basis of some 37MW of wind farm assets producing by the year end we still see upside and reconfirm positive stance with a SPECULATIVE BUY recommendation.

There was clearly some underlying problem with the Ruukki takeover of SLV. I refuse to believe that it was 'just all a bit too difficult with Ruukki having to list on AIM and then transfer to the FTSE, and the delays with the TO of SA Metals and Western Australia too',. These are the only suggestions I have seen bandied about as to why it failed and I would be extremely disappointed in SLV management if the obvious delays that were likely to occur had not been considered. I think the whole thing was more to with a 'mutal backscratching' excercise to line a few directors pockets....the PI's were definitely sold short on the Ruukki offer. I'm glad its been withdrawn and will be waiting for it to settle before buying back in. I agree with you Moosh that some definite buying signals need to be confirmed first and I doubt you'll see any buyouts coming this way short term at least... Mrs T ;-))

Metals Exploration (MTL, 15.75p, £42.5m) The owner of Philippines based Runruno gold and molybdenum (moly) project downgraded its reserves significantly today and was restored to AIM. Total JORC-compliant Measured, Indicated and Inferred Mineral Resource is now estimated at 1.5Moz of gold and 25.4Mlb of molybdenum (previously 2.0Moz gold and 34.4Mlb molybdenum) so a 25% and 26% downgrade. However the saving grace here is that the measured category more than doubled to contained 560,000oz of gold (previously 270,000oz) while indicated ounces reduced to contained 290,000oz of gold (previously 487,000oz) and Inferred ounces reduced to contained 650,000oz of gold (previously 1,248,000oz).The share price correction is understandable given the downgrade. However, if we apply a similar valuation metric to when we last wrote in May (US$1.05 /oz for inferred, $12.05/oz for Indicated and $187.73/oz for Measured and as then ignore moly credits), due to the upgrade in measured Metals Ex has actually increased its inherent value to $65.8m which equates to 24p per share leaving the stock looking undervalued. Thus given the price fall we maintain our SPECULATIVE BUY.

-1.31 * 650000oz = -$851,000 30.74 * 290000oz = $8,914,600 380.66 * 560000oz = $213,169,600 Converted into £ at 1.6 = £138 million market cap Current market cap £43 million

Well using the Julian Baring 10% method, also favoured by Jim Slater, for a back of envelope calculation: Total of inferred/measured/indicated JUST gold: 1,500,000 oz: 10% = 150,000 oz 150,000* $1000 gold price = $150,000,000 divided by shares of 269,720,000 =$0.556 =£0.33 per share. I am still happy to be in and to have taken op to top up baring in mind where I think gold is going.

to see Mr Candy not baling out......... Commenting on the revised resource Christian Candy, 44.1% beneficial shareholder of Metals Ex (through Solomon Capital) advised: "It is important to realise that this detailed assessment provides a strong confirmation of the core of the resource and further support for a targeted gold step out programme. "I remain fully supportive of the Company and Management who are now focused on finalising the reworked feasibility study and implementing the targeted programme of step out drilling."

50% increase in measured gold 50% decrease in indicated and inferred. Making measured gold 57% of the estimate instead of a previous 38%. To my simplistic brain that says that 50% of what we thought might be there probably isn't but the stuff we actually found....well there was twice as much as we thought. Coupled with the fact that they've had to adjust to JORC to include previously omitted odds and sods of waste then it ain't so bad. They also say that there are good signs of other mineral formations on the Runruro site which will be investigated shortly.

It's important to remember the difference between inferred indicated and measured ounces of gold. For Metals Ex measured has more than doubled the others have fallen. But measured resources are not just more important than the other two - they are more important by a MASSIVE amount. In April 2009 (ie when gold was a lot lower) Edison Investment Research noted that AIM market valuations were as follows: $1.05 inferred, $12.05 indicated BUT $187.73 measured. Based on the recent RNS that puts MTL market cap at £109 million (currently £43 million). Yes it is disappointing total ounces are down but these measured ounces are very very important. --------------------------------------------------------------------------------

Of course downgrading a resource is market sensitive, however, JB stating the obvious whilst also stating that he is constrained in the detail he can supply isn't leaking or giving away anything. They stated in the RNS that was about the Resource Estimate......the news leaked, the price dropped. It ain't rocket surgery to guess that the resources estimate didn't go up!! What JB does say is that other numbers are better so lets see if it evens out. This is what happens with speculative share purchases, you pays your money, you takes your chances. However, I am glad that my investment is a tad more modest than Mr Candy's!! ;-) Mrs T ;-))

Market sensitive......? Not particularly IMO, the RNS yesterday said it was to do with the resources estimate. JB is clearly trying to bring some calm to a volatile situation. I expect the rest of is time is trying to keep Christian Candy sweet...... Boom Boom ! (see what I did there? ) LOL! :-))

I'm not a Long Room member on Alphaville, would you be so kind as to cut and paste the MTL comments pretty please? Mrs T ;-))

was a iii poster's telephone conversation with Jonathon Beardsworth this morning. Mrs T ;-))

He called me back, which was pleasing, however typically mobile signal cut part way through. He did say that, within the constraints of what he could say, that people had got wind of the independent resource estimate that was being done to back up their figures and that the headline figure had been reduced but that some figures had improved. STOP PRESS ========= He just called me back, OK so the headline figure is off, but the inferred and indicated have risen. They are planning to get a statement out to that effect which is being very carefully considered and composed, it should be done before the end of this week. He also said that it was at AIM's behest that the share was suspended after being contacted by them regarding the dropping price. I have to say that he is clearly finding the situation stressful, he sounded quite nervous in his voice which I mentioned to him and he said that he would heve preferred to get a statement out this morning but that it was now being designed by committee, hence his frustration. Hope I have reported this correctly please don't blame me if I got anything wrong! Hopefully, given this information let's hope the market reaction won't be too damning.