senn1965
16 Apr 2018
Re: Director buying more Or this week would be good.
johnybigarms1
16 Apr 2018
Director buying more Non executive Director taking another nibble, he’s spent £35k in the last week or two, confidence is growing, good news release next week imho
senn1965
12 Apr 2018
Large buys Looks like someone is loading up in 200k blocksSenn
senn1965
12 Apr 2018
Re: Update Some large trades today good news coming?
johnybigarms1
12 Apr 2018
Re: Update A non executive Director bought £26k last week, so looks promising, paid 3.75p per share, hopefully his money is a sign we have finally gotten going, with gold prices at €1340 an ounce the Gold production at 70% of max output will still generate serious money, Strong buy at these levels.
RtheHawk
11 Apr 2018
Re: Update Recently a slight increase so presumably someone knows what is happening but their news to shareholders can only be described as poor.Do they realise that collectively we own the company and are entitled to regular updates particularly when there is bad news. For me it causes a level of distrust. We should not have to speculate and probably get it wrong. I have marked it a strong buy and hope I am right
senn1965
11 Apr 2018
Update Good news ahead? debt hopefully sorted with production going up, 10p target.Senn
boredofblogs
27 Mar 2018
Re: Next update Quarterly update should be due in the next couple of weeks .. good news that they've finally got the BIOX circuit working would be a welcome relief
senn1965
10 Oct 2017
Re: MTL valuation TonyThey do not need to spend 120 mil on the plant so take that off the cals, they will sort these small probs, issue has been mining regs which are now sorted, this will be 10p or more if they do what they are planning Senn
ExpatBill
09 Oct 2017
Re: MTL valuation Thank you Tony - much appreciated!
tornadotony
06 Oct 2017
MTL valuation I was asked to have a brief look at MTL on another board.MTL has around 700,000 ounces readily available on a 1 to 5 strip ratio where 50% is in the Gold sulphur form associated usually with underground mines and half is oxide. MB has to be separate out as well. It has a complex plant to process the gold and has to ensure the sulphite material is processed through it. The company states costs are around $477 per ounce and its not surprising therefore to see poor recovery rates. Other circuits processing oxides and sulphates delivering 88% recoveries would give AISC levels typically nearer to $800-$900. Basically if they mine on the cheap they get far more problems in running the plant. I could be wrong on this view for the company but it has a red flag until they deliver a good recovery rate.The Philippines is renowned for its rainy monsoon season. It makes far more sense to run operations for 9 months and moth ball for servicing and just protecting the facility which is above ground in bad weather. The power supplies become very irregular in poor weather and expensive mill and other equipment is wrecked without emergency generators switching on immediately. The typical generator infrastructure is around $11M and I am not sure if they have it or not. To run the mine without full diesel back up at such times is not good a sound mining practice.The company has a full debt load of $105M. The cost to upgrade the entire plant set up here is probably around $120M for it to be top notch, if I am wrong lets assume they need it for capex anyway. The 700,000 ounces has a profit value of $275M. The company on a model is achieving cost recovery at 1200 per ounce over 7 years of some $50M. Lets assume after more capex it pulls in another 700,000 to give a 10 year mine life allow for efficiencies of scale as off set would give say another $250M net profit. The value on other sources of gold could give another $50M for what is not in production. The project therefore gives around $350M pay back. The market value the enterprise as $143M which implies that is currently trading at 4PE forward rate. The market is still rating the company as being in development. It is unlikely to get higher than 6PE until fully proven and has the ability to deliver reliable performance on a sustained basis.The above is entirely opinion base on a quick read. I therefore feel that 4p is the right price for this asset at this time. Tony.
senn1965
05 Oct 2017
Re: Next update Its been going since the 70s proven technology look at BIOX website for details.
RtheHawk
05 Oct 2017
Re: Next update I hope you are right. Does anyone know if the system being used to extract the gold is in general use or a bit leading edge experimental? It seems to me perhaps to be the latter
senn1965
04 Oct 2017
Re: Next update Apparently in around 2 weeks should show the start of a marked turnaround in production here, am expecting the company to be at full ramp up by end of the year. With no free float this will fly on good news so I would buy within two weeks imho, very under the radar with most. Senn.
senn1965
03 Oct 2017
Re: Next update Some more hefty trades for this today, you could not buy a decent amount all day been trying, but some larger orders were being filled for there mates.Senn.
