MMI Metro Mining

[percy]

www.metromining.com.au
1,288,003,657 shares at 27 cents gives a market cap of $347,760,987.
Australian Bauxite miner in Cape York.Also has large thermal coal resources in Sturat Basin,Queensland.
First Bauxite shipment should be in April, at the end of the wet seasonl.Good takeoff agreements in place.
Link on HC to a good www.proactiveinvestors.com.au article .MMI thread,Off to the races,Butzbuster.Forecast to generate underlying earnings of $2.5billion over a 17 year mine life.ie annual earnings of $145 million.

[shasta]

Looks good Percy, Bauxite doesn't really excite the miners on these forums, but the fundamentals certain stack up.

Funded to production, off take agreements for the 1st 2 years production, able to ramp up production at very modest capex, long life mine.

I'll wait for the markets to change diaper before i dip in, and reinvest the BCI funds

[shasta]

I'm in.

Lots to like, had a good read through last night, should've entered sooner but ill cough up, nice wee rebound today too, a lot of green...

[percy]

I'm in.

Lots to like, had a good read through last night, should've entered sooner but ill cough up, nice wee rebound today too, a lot of green...

I am sure MMI came out of another company I followed you into, a few years ago,maybe it was their coal interests?.
Some how I ended up with 920 and in May they said they would take out small holders,so I brought 19,080 at 13.5 cents to take me to 20,000.As they are doing what they said they would do I added to my on 4/1/18 at 27.5 cents.

[shasta]

I am sure MMI came out of another company I followed you into, a few years ago,maybe it was their coal interests?.
Some how I ended up with 920 and in May they said they would take out small holders,so I brought 19,080 at 13.5 cents to take me to 20,000.As they are doing what they said they would do I added to my on 4/1/18 at 27.5 cents.

I got that feeling reading through, no over the top statements, just doing what they say, under promise and over deliver.

[percy]

Gee Whiz the sp is moving.
Up 3 cents to 33 cents today.
Did not expect any action until first shipment is underway April/May.
Not complaining.!..lol.

[shasta]

Gee Whiz the sp is moving.
Up 3 cents to 33 cents today.
Did not expect any action until first shipment is underway April/May.
Not complaining.!..lol.

Don't mind coughing up 25.5c now to see it hit 34c high today, same as you thought would be flat til after the wet season in April....

Very well positioned...

[percy]

Don't mind coughing up 25.5c now to see it hit 34c high today, same as you thought would be flat til after the wet season in April....

Very well positioned...

Took the words right out of my mouth.!!..lol.

ps.Not sure what to make of MLM.Waiting approval for access road, then only a matter of weeks before they too start production.?
Any thoughts?

[shasta]

MLM, when they sold the family silver to AUZ for peanuts I stopped following them. A low cost small bauxite project hmm. AUZ got a bargain.

[percy]

MLM, when they sold the family silver to AUZ for peanuts I stopped following them. A low cost small bauxite project hmm. AUZ got a bargain.

I had a very small holding,then brought more at the end of August last year.
So far it looks as though I have them wrong.

[airedale]

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A healthy looking chart. Sadly I am not on board. Perhaps when there is a pull back.

[percy]

We are under way.
Mining operations commenced on Friday 13th April.
The first vessel has been booked to arrive on 19th April,to collect a cargo of around 60,000 tonnes of bauxite, bound for China.

[shasta]

We are under way.
Mining operations commenced on Friday 13th April.
The first vessel has been booked to arrive on 19th April,to collect a cargo of around 60,000 tonnes of bauxite, bound for China.

https://stocknessmonster.com/announcements/mmi.asx-2A1076430/

now to turn the red dirt into cash....

[percy]

Good interview with MMI's MD Simon Finnis.
Google ;Finance New Network Metro mining.

[percy]

Well the share price has just kept falling.
Yet they are doing what they say they will do.
Have loaded for shipping what they wanted to do in their June quarter.
I have now doubled my holding, buying at 9.9 cents today.

[Lewylewylewy]

Thanks for the tip on this one. I curious to know how people are valuing this company since it's transition from exploring to production.

At the moment it's got a mcap of $138.5m, i can't find any profit guidance. They say they're going to do 3m Wet MT of product, 90% of which is sold, but I guess they'll sell it all based on the implied demand. 1 Dry tone sells for $52.

The question is, what's 1WT worth, and what does it cost to pull the stuff out the ground?

If we assume 1WT is $30 and they do 3MWT, that's $90m, less costs of about $50m (i vaguely recall that number as exploration cost, but might have pulled it from my peach), that's $40m before tax.

Does anyone have experience or knowledge of what such an operation typically costs, or a better guess at the value of Wet bauxite?

[percy]

I think you will find the answers in earlier MMI announcements.
Reserve upgrade today means a further 3 years mine life to 2037.

[percy]

Today's MD's presentation at Noosa Mining Conference gives details of costs and sales revenue,together with projections.
An excellent presentation.

[Lewylewylewy]

Thanks percy

[Traderwannabe]

Thoughts on the half-year report?

[percy]

Getting there slowly.
Ship loading is getting a lot better.
Some ships have better cranes,and MMI are ordering them.
A few things which should not be reccuring were in this half,such as the cost of taking opperations in house.[$1.9mil] yet producton savings will be ongoing.

[Lewylewylewy]

Are you worried about demand drying up with the recession? I understand they have contacted demand, but i question the value of international contracts, especially with non western countries.

[percy]

Are you worried about demand drying up with the recession? I understand they have contacted demand, but i question the value of international contracts, especially with non western countries.

With international trade you never know.
Not worried, as I have not bet the ranch on then,just the old out house, at the back of the back shed.
Light weight materials such as aluminium are in growing demand [cars,planes,etc] therefore demand for MMI's bauxite should grow too.Any commodity will have its ups and downs,however the long term future for bauxite is solid.
The life of MMI's resource is to 2037.

[Traderwannabe]

Nice finish today. Hopefully the buying continues tomorrow. Needs a bit more volume.

[percy]

Bit of reading.
Lot of posts on HC.
Google ;Australia's only pure play bauxite producer capitalising on China demand.
Today's announcement;Completion of stage 2 DFS,[definite feasibility study]
All very positive. so I added to my holding.

[percy]

Today's announcement that NAIF [Northern Australia Infrastructure Facility] will offer Metro Mining a au $ 47.5mil loan to fund their expansion to 6 million tonnes per annum, I view as extremely positive.

[percy]

Another very good presentation out today.

[DarkHorse]

Indeed it is. Prospects improved while price remains bargain basement

[percy]

Bit of price movement today.
Looks like a break out.

[Joshuatree]

IMPRESSIVE presentation indeed disclose not a holder atpit.

Download Document 2.73MB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4ga6y xT0v%2Fp09rFiGug%3D)

[percy]

Metro Mining refinances existing debt to secure $47.5 million loan from NAIF. Metro is on track to meet the upper end of its 2019 guidance of bauxite production and shipping from the Bauxite Hills Mine in Far North Queensland....

[LAC]

Metro Mining refinances existing debt to secure $47.5 million loan from NAIF. Metro is on track to meet the upper end of its 2019 guidance of bauxite production and shipping from the Bauxite Hills Mine in Far North Queensland....
Mining sector seems to be doing well in Aus this year, took a small position in MSV and looking at add once some divies come through, did you get comms about the share consolidation 10:1 going forward?
Have not done much research on MMI, do you see a better business in MMI vs MSV? I will def do my own research but just looking for your opinion as I am new to this sector.

[percy]

Mining sector seems to be doing well in Aus this year, took a small position in MSV and looking at add once some divies come through, did you get comms about the share consolidation 10:1 going forward?
Have not done much research on MMI, do you see a better business in MMI vs MSV? I will def do my own research but just looking for your opinion as I am new to this sector.

I hold both MSV which is a drilling contractor and MMI which is a straight bauxite miner.
Think both are excellent value.Yes I saw MSV share consolidation news.
I have a bit more in MMI.
Both give excellent presentations,and seem to do what they say they will do.
MSV still does a lot of coal drilling, which may put people investing in them.
Each is around half a % of my total portfolio..
I am a novice with Australian mining/services company.
I have doubled my holding in each this year,on positive annoucements.

[wizAlvin]

only 30 + hours to get your 2020 picks in .... about ONE DAY

[percy]

https://finfeed.com/small-caps/mining/metro-mining-undervalued-ebitda-44-million-mine-life-17-years/

[percy]

❑ Lower alumina price causing lower bauxite pricing
generally
❑ Market dislocation given very low freight rates
Guinea to China
❑ Customer uncertainty and caution
❑ Difficulty in securing additional sales contracts -
challenges remain

https://stocknessmonster.com/announcements/mmi.asx-2A1242482/

Disc Sold on 8/4/2020 at 11 cents..

[Lewylewylewy]

Thanks for the update. Glad you got out with a profit.

It's that last point that gave me concern, i was hoping to read something to the contrary here, but got what i expected. Fortunately i never ended up buying into mmi... it was always just above my desired entry price.

[percy]

https://sendy.tarawera.co.nz/l/J6oLVth2f3f6IXNYvUBQEg/fQgihhuf6ZBGtQdkMxOvBg/1lLAzC3eKMqdAW0drA5vVg

[LAC]

Very sad news for the people and company... all happened very fast.