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We need some sort of update ASAP!

rossannan, I agree the numbers I have set out are rough and ready but we don't have much more to go on.
They assume all things being equal and I agree there are lots of variables which could affect them, up or down.
The trend though is that things must be massively better at Minto with such a dramatic rise in copper prices.
Can I ask if you have a position?

rossannan, you are right there must be a copper price where the mine breaks even and in my opinion this has now been exceeded.
The half year results show a loss of $9m on turnover of $26m. We know from this report that the copper price realised was $2.20 a pound. Assuming that 75% of Mintos production is copper then $19.5m of turnover was copper production.
The price of copper is now $3.65 which is 65% higher. if we multiply the $19.5 by 65% we get $32.2m which is $13m more.
This would imply a turnaround of a $9m loss into a $4m profit. That is without extra production and gold and silver price increases. I would stick my neck out and say that at current prices the mine should be making $10-$15m a year profit.
So our 11% would earn us £1.1m to $1.65m a year and we are valued at less than £4m which is bonkers to me.
I know we have not had a great start here over the past 18 months and that will affect sentiment but I think we are well on our way to seeing a rerate here over the coming weeks and months.

Looks like news is on the way. I would predict within the hour. Bit of a leaky ship this one.

Obviously this has been staged to let someone buy in on the cheap. Ooops, did I just say that out loud?

Copper just hit $3.59. The drilling results could really set a rocket going.
Fingers crossed we get some sniff of them before Christmas.

Copper is now knocking on the door of $3.60. PERE has to respond soon enough.

Who is selling on this news. We knew this was coming and confirms that a Tier 1 FTSE100 company is investing £2m into our little company. Price should be going up not down!!

Only Fill or Kill orders being accepted this morning for small quantities of buys.

Now that copper has broken $3.4ib I thought I would look at some potential turnover and profit numbers.
I am sure others can put me right if I am off track but I have kept this as simple as I can.
We know at the last interims that for 6 months to end of June we turned over $25 and lost $8m.
Copper price received was $2.32ib which mirrors the spot price during the same period.
If we assume that 80% of the mines production is copper this would represent $20m of turnover. Copper prices are 50% higher so the $20m becomes $30m and turns the loss into a profit, all things being equal.
Where it gets interesting is how much more production we will see in the second half. We know they are mining from the new ore body with better grades. Lets assume a 50% increase. If that could be achieved the profits of between $5-$10m for the second half are a real possibility. This gives an annual profit run rate of $10-$20m. I know we only have 11% of this but for a company valued at £3m I think we deserve a higher valuation.

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https://twitter.com/kjawoogie/status/1331848328875794435?s=19

Copper hits 7 year high!

Lottohopes - I think your analysis is spot on. When the share price was at 16p we owned 33%, now 11% and the copper price was at $2.8lb. Although we own less of the mine we jettisoned multiple liabilities and in return we took a reduction in our equity stake. Copper is a whisker away from a 5 year high at $3.30, some 15% above the price when we traded at 16p.
Given our reduction in equity I think 16p may be a struggle to get back to but one thing is for sure, we are now worth more than the market is pricing us at.

Blackrock up another 11% last night in Oz. Thats some 60% in the last 2 weeks. Our turn next?

Price at close on 31st Dec:
Deepbreath - £1
Isb - 15p
Maddog - £5
Dickpullar - 63.5p
Cbax - 95p
Genghis15 - 30p
TheITCrowd 25p

I see Black Rock closed at 7c in Oz this morning. That's a new year high for the stock.
Being one of our neighbours this could be a good sign for us and doesn't seem to be troubled by any political uncertainty.
Fingers crossed

I doubt you guys will have long to wait to be in profit, middle of November should do it. Fingers crossed.

Always best to build a position when it's quiet tradedesk. With two company making projects expected to come on stream in the near future what is there not to like.

There is the RNS we were hoping for, great vote of confidence today. £1.3m convertible loan notes at 10p and no interest payable. Result. should see these back to 10p in no time now.

Couldn't agree more Findingfeet. Patience is the key to this one, with the biggest rises coming to those who wait.
I would stick my neck out and say will be trading at much higher levels by Christmas.
That's only two months away. However that may be a lifetime for some investors.
Keep the faith folks.

You are not alone Stevebru I am still here, at least there is two of us. :)