Member Info for Tracylied

Ning made demands at the AGM very publically. He behaved like an idiot in that forum and I suspect he made similar demands after the AGM which were ignored or rejected. He was very positive about the projects but critical of the management; unfairly I believe. I think he is taking his football home so nobody else can play with it. MWA will just use another football. He had 85m shares at 1.57p. The rest are held at 5.5p so I doubt they are going anywhere.

back at $15600 a ton giving a margin of about $2400 a ton currently on about 700 tons a month with 75% attributable to MWA. Not too shabby for this tiny market cap with the smelter restart well under construction leading to much enhanced margins once operational. It's interesting to note the way the PGM refinery plans are heading suggesting an alternative to a large standalone refinery is needed and quick. I wonder if Mpinga's door is being assaulted for that purpose given that MWA have a refinery on care and maintenance that can be converted and started rapidly and cheaply.

still lurking like a bad smell. I wonder who it could be....

It would create a huge demand if there were a yes vote.

The values are below previous levels however the costs are now well below historic levels. I doubt the Swiss referendum will be supported but I suspect the dollar will run out of steam unaided.

Looking good tonight. Margins increased, just need to hold on to the gains and add over time.

Aged it should be but the AIM says it is not. We have a baseline valuation indicated by however low this SP will go on tight margins probably $2000 a ton for Nickel and $100 a oz for gold. Increased margins will mean real cash returns that if ignored by the market can be realised by giving the cash to shareholders or buying back shares. I suspect we will see Nickel all-in reach $10000 a ton with the smelter and less with Zambian concentrate added and less than $9000 a ton with the refinery running. At $15000 current Ni values that is a great margin

Much depends on the margins. Commodity values and costs. The smelter restart will certainly help the margins once it is up to speed. Whether the tide has turned or just ebbing and flowing is a long way from certain. Mwa is worth multiples of the current cap but the catalyst is still uncertain.

It looks like the finance for the smelter is very close to delivery. I suspect we may see a bit of both outcomes. Interesting timing; we have been told that we will hear in this calendar year; that will tie in with the financial requirement on-site. The payback will be rapid even on simple transport saving from $1m a months reduced to about $150k. The real clincher will be the deal to process the Zambian concentrate from the mine coming on-line in the spring; perfect timing Mr Mpinga. http://allafrica.com/stories/201411100779.html

Investment in assets is fine as long as there is a increased return. However looking across the AIM there have been numerous examples of investment leading to diminishing return. It would be good to see a major Jv at Zk but I would rather wait for that to happen until the feasibility study is complete and we have a reserve.

That is an amusing thought; they bought at 5.5p. I would be very surprised if MWA are buying back at 5.5p or below as I doubt the share price would be anything like that low with the smelter restarted. I wonder if the finance is to allow cash to accrue. Mpinga did say that dividends are a possibility next year, that is looking good to me.

Looking at the historic care and maintenance costs the cash generated from the slimes is quite substantial; I do wonder at the profit. Last year the 19000 carats produced revenue of $334,972. The care and maintenance costs were less than £1m. So far this financial year they have produced 56000 carats. What we do not know is where the profit point is. There is also an issue over the diamonds produced and the diamonds sold. I wonder if the partner takes their cut in diamonds or if there is a growing pile somewhere. Wuffle There are still some historic liabilities then there will be the loan to pay back on the smelter and probably the whole process of restarting the refinery. It would be reckless in my opinion to borrow money and pay a dividend but a little increase in the Gold and Nickel values and all of that could happen very quickly. I see the current ceiling at around 10p a share (the AIM disagrees right now) based on increases in commodity values. The smelter and refinery restart will add to that I am sure.

It does seem to have been one or the other; looking at Diamonds they look to be very stable and very profitable. Currently they are recovering industrial micro diamonds for cutting and grinding. However the underground mine was into gem quality diamonds and we can expect strong returns back underground. Klipspringer was not a big operation and when they restart I suspect it will be in a small way at just $4m restart costs. The Nickel price will increase; I have no doubt about that. The USD will run out of fuel and Gold will increase. I have doubt about that either. I believe MWA is approaching some very special exposure to profit.

It is quite clear that the figures quoted are absolute nonsense. They quote the total metal held under warrant and under cancelled warrant however is this in any way relevant or reliable. Metal held under warrant even if one warrant equals one ton the fact that the metal is held means that it is not available at the current price or clearly it would be selling today. The cancelled warrants represent nickel in the warehouse currently available in theory but where is this Nickel globally and what type of Nickel is it. It seems to me that any volume end user will have a supply that never enters the warehouse but is supplied direct to site when required. I pay little attention to the warehouse figures as they really mean nothing. Unfortunately others do look and determine future nickel values based on misleading information.

making a slight recovery today; certainly making yesterdays loss back. It's crazy how Gold responds to insignificant data. I do wonder how long it will take for the US to stall without any fuel.

Yes even a small holding can influence with such a small volume. I suspect the SP would recover as quickly as it fell with the same buying.

On ADVFN a poster has said that Peel hunter were the seller. Interesting as they are not a notifiable holder

Certainly is a PR campaign, starting 1st December.

Buying into the close, very little volume again. Nickel and gold rising gently. MWA remains profitable. The current market cap is just too low. At 15400 a ton nickel the annual profit from nickel alone is one third the total cap. That includes a major refurbishment of mining equipment which is complete in a few weeks. Add the cost savings from the increased efficiency and the smelter and nickel profit will equal 70% of the current cap on nickel alone. Yes there is risk, Ebola, gold and nickel price, Mugabe not croaking and continuing to strangle Zimbabwe. However the upside from the current position is massive. I believe with just a few changes 10p will look very cheap.

Yes but against the volume they are huge, often half the volume, hence I suspect the drop. Once recognised what we may be seeing it makes the opportunity easier to appreciate.