Medusa Mining Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9666954 http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9666954&action=detail Mon, 21 May 2012 21:14:00 GMT roco200 tag:iii.co.uk,2003:tst.9666939 By roco200 ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9666939&action=detail Mon, 21 May 2012 21:08:00 GMT roco200 tag:iii.co.uk,2003:tst.9666774 Thank you for the very comprehensive report of the Fairfax meeting I will not be able to match that on Thursday. It is so good I wonder if I need to come down. But I've booked my OAP saver on the train so I will make it.
Thank you for answering my personal query. What I can't get my head round is why they produced a doom laden RNS on 20th March outling the severe problems with the leach tanks etc etc. The production in the first 3 quarters was 10,510, 16,270 and 18258 ounces. As you say the estimate for the 4th Quarter is 14,962/19,962, which is well in line with the previous 3 quarters without all the leach tank problems.
When they produced that doom laden report (which triggered Loads selling his shares) I thought the 4th quarter was going to be about 10,000 ounces.

But anyway whatever the outcome of this quarter is overshadowed by the excellent prospects for the next 3 or 4 years.

Thanking You again for such an excellent report

Goldminer70 By goldminer70 ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9666774&action=detail Mon, 21 May 2012 20:03:00 GMT goldminer70 tag:iii.co.uk,2003:tst.9664474 http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9664474&action=detail Mon, 21 May 2012 09:03:00 GMT sasa43 tag:iii.co.uk,2003:tst.9664129 Please be assured that Medusa most certainly is cash rich. It has already spent half of the capex allocated on the Co-O Phase 3 expansion and the rest will be spent ($35m) by mid 2013. Capital is being put aside for the Bananghilig Development with construction due to start as Co-O expansion completes. Capex for Bananghilig is $200m. All Capex spend has been confirmed by the Chairman & MD as coming from their own generated revenue. If you look at the Quarterlys you will see that they are not selling all the gold produced (restricted to 10000 ozs per quarter) as they sell what they need as they go along. If necessary, to supplement revenue to complete the capex spend on Bananghilig, they will use some of the monetised proceeds from the Anoling Copper deposit to be sold. Further more they expect to complete the capex funding by mid 2014, when they hope to upgrade the dividend policy (ie give income generated back to shareholders)
As we know production is due to ramp up quickly from Q4 & Q1 -2013(CY) as the new Saga shaft comes on stream.
Goldminer: The production numbers are as already advised. They have produced 45038 ozs year to date and the year end target is 60-65000ozs, so 14962/19962 ozs in the next Quarter. Then FY 2013 (Q3 2012, Q4-2012, Q1-2013, Q2-2013) they aim to produce 120,000 which will increase strongly once the Saga Shaft is complete end of 2012. We could see near on 40,000 ozs per quarter by Q1-2013.
The Haulage road is having concrete injected underneath key areas and the work will be completed once the dry season arrives (Q3?). Everything else appears find. Very little water ingress over and above the norm occured during last winters unusual storm, which is anyway pumped out as normal.
As far as I can see the story is all positive. Self funded growth path to 400,000 ozs per year. Low cost, dividend paying, excellent upside potential from exploration and copper monetisation. All IMO.
Hope to hear back from those who attend this week. I think you will see Roy Daniel the Finance Director, so a good time to ask financial questions. By roco200 ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9664129&action=detail Mon, 21 May 2012 07:53:00 GMT roco200 tag:iii.co.uk,2003:tst.9663618 Hello Medusarites

Wake up sleepy heads.

If anyone gets a chance to ask at the Medusa meeting I would be interested to know how their finances are working out. With lower output how is their cash lasting? Thanks.

Here in the Philippines, life carries on as normal. Everyone going about their normal ways. As for the rain its part of life. The former earth quake has left a lot of damage with buildings cracked, and many roads needing repairs. It’s a bumpy bump journey where ever you go.
I have now had a chance to have a look, and see how my holdings are doing. It’s not as bad as I thought with several stocks holding up reasonably well, and a few gains. Before I went away on holiday I had been top slicing, exiting some holdings, and spreading holdings to reduce risk.

The good guys are AVON, XPP, and TEP all up, and many others doing comparatively well under the circumstances. DRV, ASW, GFRD, LOQ, RMV, SPD, TMZ, QPP, OXIG, GEM not too bad. (Thursdays close information). GBO down, but with the CEO buying £94,000 shares a recovery looks likely sooner or later. SHFT has gone down but IMO it’s well undervalued, and a recovery will happen in time. A recent valuation of 170p a share has been given seems about right to me. This company is a buy IMO.

I hold several small Technology companies-- ASW, DRV, GBO, ITM, GBG, TMZ, QPP, and VLK. At the expense of sold off commodities, and Goldies. Larger Techs I hold CML, LOQ, OXIG, XPP, and TEP with CML the one that has let the side down, around 20% drop, or just over from its recent high, but still well up for the year..

I did break my commodity gas rule, and took a position in IGAS just before I went on holiday after reading about its large shale reserves, and I like its UK based shale operations, and the way the shale story is developing in the UK...

I may well have taken a position in the shorting fund, ( SUK2 I think it’s called), if I had not been away on holiday. So far I have done zero trading since late April/the first few days of May. I am happy to hold what I have. Mostly profitable companies, with growing orders, or growing potential that should do well over time. Watch out for directors, and institutes buying, signalling a time for buying at these low levels, and then going long.

Goldie’s MML, PAF, SHG, and HMB are in my watch list, but only time will tell what will happen? And the POG? MML could drop to around 270p before a recovery later this year? July may be an interesting time for buying gold miners? For now the safe haven seems to be the US dollar, but gold could make a comeback anytime.
Just my thoughts and views only time will tell what actually happens.

O/T Custard Powder

“What happened to the custard powder”? Last year we discovered that the good folk and children in the village had never tasted custard. So we bought some custard powder to the village. When we went to use it the custard powder had disappeared? We discovered that it had been used. They said the “coffee mate” was very nice!! Oh well never mind this year we did make them custard, and out of 8 children, and five adults only two did not like it.

We are having a good time, with a recent afternoon at the “Amlan Paradise Beach resort” Mrs Loads cousin, and her husband are the owners. Yesterday, (Sunday), a beach party at a friend residence, kids, mums, dads, the lot went. The mountain trip yet to be arranged. It’s stopped raining and got hotter. Mrs Loads had been jabbering a lot with her friends, and family, it won’t be long before she has repetitive strain injury in her tong!! Me I am starting to look like a banana, goodness knows how many I have eaten.

This post has been written over a few days and is not up to date with Friday’s news happenings let’s hope it’s not too far out as far as the markets/stocks are concerned when you read it Monday.

Regards all.

Loadsadough

.
By loadsadough ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9663618&action=detail Mon, 21 May 2012 01:51:00 GMT loadsadough tag:iii.co.uk,2003:tst.9662252
Kingworldnews is always bullish on gold but they are particularly bullish right now. There's also a comment in this interview on sterling, anticipating weakness relative to the US dollar. I take this to suggest that the sterling price of gold assets should rise as sterling weakens - another good reason to use our UK pounds to buy gold assets.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/18_Ben_Davies_-_The_Gold_%26_Silver_Liquidation_is_Over.html

Tad By Taddish ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9662252&action=detail Sun, 20 May 2012 09:15:00 GMT Taddish tag:iii.co.uk,2003:tst.9662068 Thank you for your interesting report.
Was anything said about the current position ~ how is the repairs and upgrading going on? Any forecast of the current quarter.
Thanking You
Goldminer70 By goldminer70 ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9662068&action=detail Sun, 20 May 2012 06:04:00 GMT goldminer70 tag:iii.co.uk,2003:tst.9661377
I attended the Fairfax do yesterday with Geoff Davis (Chairman) & Peter Hepburn-Brown (MD). I have been an investor for at least 4 years so I know the story pretty well and am a die in wool fan of this great small mining company. If I went into yesterday's meeting feeling a little deflated by recent events, I came out even more bullish than usual on the prospects over the next 4 years. Without going into great detail, as some of you will join the Coy. next Thursday and Fairfax note has already been published, what I would say is that you have to keep reminding yourself what is coming.
By Q3 we will have the upgraded Bananghilig reserve announcement (c. 1m ozs). That triggers completion of the BFS which goes to the Govt by end of year. They grant permits 6/9 months later. But going back to Co-O the first critical milestone is completion of the Saga shaft by year end, which will enable them to extract higher quality ore, thereby reducing costs and upping production.
The "upgraded environmental clearance cert." for the enlarged mill should be announced in Q3/Q4. What is also important is that they hope to start production at Anoling by late next year (licence mid 2013). This will fed another 50,000 ozs into the Co-O mill and give them more flexibility. If they need to carry out repairs or upgrades they will be able to do so without jeopardising the 200,000 oz per year target. Everything remains on track to be self funded. Once the capex is accumulated for Bananghilig, then they will review the dividend policy (c. mid 2014). They also still intend to monetise the Copper reserve which they continue to drill out over the next 18 months. Some will fed into the Capex needs, but the rest will flow to shareholders. Two larger players have already shown interest, but Medusa will drill it out themselves to maximise returns. They have 9 copper targets!
Gold production costs remain around $250 failing to $210 after completion of Saga Shaft and then av. around $400 once the lower grade open pit mine (Bananghilig) is up and running mid 2015. Reading between the lines, there is so much mineralisation on their acreage that the future looks very bright for this well run, disciplined company. Summary: Low costs, 3 mines, 65000 ozs to 400,000ozs, exploration & copper, self funding, no debt, Fidelity a major holder, increasing dividend policy etc etc. No brainer IMO but DYOR.
By roco200 ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9661377&action=detail Sat, 19 May 2012 12:55:00 GMT roco200 tag:iii.co.uk,2003:tst.9660254 http://www.proactiveinvestors.co.uk/companies/news/43025/medusa-mining-current-market-is-golden-buying-opportunity-says-broker-43025.html By share 123 maiden ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9660254&action=detail Fri, 18 May 2012 19:48:00 GMT share 123 maiden tag:iii.co.uk,2003:tst.9660242
Good to hear from you Loads,suffering like the rest of us,although probably warmer in the Phillapines.Some good gains this week FRR & Cyan,looks like a good contract won in India thankfully not trading in Europe.

Like you Loads Techs holding up small crumbs of comfort,Hoped to make an exception have been looking at Lond for some months thought i missed that one but is falling away rapidly at the moment,prob just all round market jitters.

Hope those going to the Medusa evening have a very informative evening and look forward to your report in due course.

Take care everyone chin up,gonna get worse before it gets better ! FTSE sub 5000
By silver tortoise ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9660242&action=detail Fri, 18 May 2012 19:43:00 GMT silver tortoise tag:iii.co.uk,2003:tst.9658958 Lets focus on the positives, which for Medusa over the next 18 months are significant and many. By roco200 ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9658958&action=detail Fri, 18 May 2012 14:32:00 GMT roco200 tag:iii.co.uk,2003:tst.9658917
An interesting post. The quotation you use has also made its way in to the Telegraph over here, under the heading "Gold slides 20% into bear market", but it is always reallly instructive to have a look at the readers' comments which follow. Many of them display a better understanding of gold than the journalists who write the articles. So it's a relief to know that not everyone falls for the MSM fodder.

S By Swallowmead ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9658917&action=detail Fri, 18 May 2012 14:27:00 GMT Swallowmead tag:iii.co.uk,2003:tst.9658693 http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9658693&action=detail Fri, 18 May 2012 13:55:00 GMT Blackbrit tag:iii.co.uk,2003:tst.9658532 ')" target="_blank" rel="nofollow">http://www.stockhouse.com

So I thought I'd cut and paiste something I recently posted there as it is not company specific:

How do you see yourself: contrarian or victim?.. this really sums it up for me.. just when we are surrounded by a stunning, once in a lifetime, opportunity are we going to follow the herd and fall victim to fear? Is it not a very distinct possibility that the current demise of gold stocks is the beginning of by far the biggest run we have yet seen in this "secular" gold bull market? Actually as far as I am concerned it's a no brainer.. it's a certainty.. sure some people would find that arrogant and laughable.. why should I care? I am confident in my own conviction and that hasn't changed in 10 years..

I suppose some would call me a goldbug but I would say contrarian speculator.. though I do have an appreciation of gold and PMs in general.. gold has always been and is today a symbol.. It represents something in the universal psyche.. something beautiful that represents fair value.. the original and true currency.. and I do see it's inevitable rise back to it's rightful and correct place in the affairs of our life here on earth as a symbolic representation of civilisation correcting it's own mistakes.. It is of course just a shiny yellow metal that doesn't have much use in practical terms.. but it is not the gold itself that counts but what it represents to us.. a fair, just and sustainable form of exchange.. it is not paper and it is not numbers on a screen.. it represents a measure of value that cannot be corrupted.. the foundation.. the standard on which a fair and manageable system of exchange can be built..

I find it very revealing and quite extraordinary how mainstream opinion and so many of these so called market experts continue to write off gold at the drop of a hat.. Even after gold has performed so well over the last 12 years.. consistantely demonstrating that it is in a 'secular' bull market.. how many times, along the road, after a top have we read the cries that it's all over and now gold is in a bear market.. The recent statements hitting the wires thick and fast are all telling us that gold is now officially in a bear market.. It's like "hello".. it's laughable.. none of the fundamentals that are driving this bull market have changed.. in fact the drivers of this bull market just continue to get stronger and stronger year after year.. and no governments, central banks, huge corporations or anyone else can prevent it.. there is no way out.. it's written in stone.. it's a done deal..
When will these people wake up?
This guy is telling us to use paper USD as our 'safe haven'.. can you believe it? I guess most people do.. wow!

“Gold is just another risk asset,” said Michael Aronstein, the president of Marketfield Asset Management in New York, “It made you a lot of money if you took the risk eight or 10 years ago. A real safe haven would be a pile of high-denomination Swiss franc or dollar notes, stored in a safety deposit box.”

For those of us who understand the inevitability that this gold bull is secular we know that even if gold corrects back to $1,000 per ounce it won't stop this bull market.. not a chance.. in fact the lower it corrects the stronger it will accelerate to new highs later.. we have been waiting many years for these kind of events to unfold.. Even 10 years ago it was obvious to me it would happen.. it was already written in stone.. and it has unfolded just as expected.. and the fundamentals only get stronger and stronger.. and now the main event, the mania phase, is on the horizon.. we always knew it would get crazy and very volatile.. the dips would be very severe and the bears would come out in force.. and then the big runs would get people euphoric.. they will run around like headless chickens following whic By Centaman ]]> http://www.iii.co.uk/investment/detail?code=cotn:MML.L&display=discussion&id=9658532&action=detail Fri, 18 May 2012 13:27:00 GMT Centaman