We would love to hear your thoughts about our site and services, please take our survey here.
believe how cheap this is now that copper is back to $4.35. We are nearly at twice the price realised by the company for the first 6 months of last year when we turned over $26m. At this rate Minto should be making $10-15m annual profits. Pembridges 11% of that would be $1.5m and we are sitting at a valuation of £5m. With copper prices expected to go ever higher the value gap just gets bigger!
Good update yesterday and a very positive Proactive Interview. Copper price now up to $4.178 this morning which only adds further to the PERE coffers.
FireAnt I agree with your valuation appraisal here and believe the market is missing out on a huge opportunity.
A 10p-20p valuation here in the next few weeks and months is not out of the question.
is the only way you can buy at the moment. MMs controlling the stock very tightly.
"talks at an advanced stage with a major partner seeking to take a strategic equity stake in the Company at a premium to the current share price."
That's one massive trade!! 102m at 0.5p.
Maybe that's the seller done or someone taking a large stake. Time will tell.
Just shows how rigged these markets are.
Great news yesterday, 2500MT of copper locked in at $9000 a tonne. So that's $22.5m of guaranteed revenue plus 10% more at a price TBD. Given that their income was £26m of the first 6 months of last year, this nearly doubles their revenue on a comparable basis. That is one amazing turnaround. I have put my money where my mouth is and bought again this morning.
A slight copper price pullback on Friday which IMO is healthy for its continued rise. On a technical level is was overbought. Should move further north during this week. Price here has held up very well considering a few seem to be taking some money off the table at this level. We are still in the foot Hills here, got to hold for the big gains.
Well he got his timing spot on with RMS. Accumulated 74m of them below 1p up to July last year then sold them into the rise.
By my calculations he must have cleared over £1m on that call alone!
He was very confident with RMS and seems very confident here as well.
Follow the money.
There appears to be some chunky sells going through the market today, however these are not having much effect on the price.
There was a time when a couple of sells would knock the MM's off their perch so I see this as a good sign as the MM's seem to want to take a bit more stock on their books.
Well someone has confidence that the RTO will happen, they have just picked up £34K worth of shares.
Bit more interest here today. We really should be trading nearer 10-15p given the rise in copper prices.
NM
This could really fly tomorrow if the MM's play ball.
7p just paid and now nothing available online again. Guess it's back to FOK.
No it isn't listed.
Still cheap at 7p :)
One thing which has been playing on my mind is the overall valuation of a entity like Minto.
My numbers and valuation so far have concentrated on the company value from turnover and profits given a projected Copper price. What I haven't included is the opportunity value of all the Copper, Gold and Silver contained in permitted area.
Take an explorer for example like XTR. They are valued at £45m having sunk a couple of holes which returned fairy low grades but good length and depth. I appreciate they have other interests as well but most of the added value XTR have seen on the last couple of months has come from this drilling. Price before 1.5p now 6p adding some £35m to their valuation.
We have an operational mine which has seen millions of pound invested in it's construction, we also have huge in ground reserves which which soon be upgraded in light of the recent drilling results. If the extra value that XTR have seen has come from their drilling then what is that value of our, already proven, reserves? Surely more than is being priced in by the market.
L2analyst thanks. I am not sure of the % held by directors but it quite large compared to many miners out there. Your 24% could be correct.
There is considerable leverage to the copper price here which if forecasts come true, they are already heading north, they will have a massive impact here.
IMO now is the time to buy as the market isn't taking any note of this. Should copper continue moving north then they will and it will be too late as, due to the small free float, it will take off rapidly.
Good luck.
The price of Copper has just passed $4.20 which is pretty much double where is was at its low last March/April.
That will do nicely!!