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laurie
28-09-2006, 05:41 PM
Been on since IPO Now 04 this little Nickel baby is now flying hit .58c high today from a .365c a few days ago a 60% increase ASX speeding ticket issued today

cheers laurie

shasta
13-06-2010, 02:51 PM
Been on since IPO Now 04 this little Nickel baby is now flying hit .58c high today from a .365c a few days ago a 60% increase ASX speeding ticket issued today

cheers laurie

MLM - Gold Coast Presentation

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=221325

Market Cap $25.8m (117.3m x $0.23)

Cash @ 31/3/10 = $8.8m

Enterprise Value = $15m

Own 100%* of 6 greenfield projects, including:

Nornico - Nickel/Cobalt project
Greenvale - Nickel/Cobalt project
Lucky Break - Nickel
Kokomo (80%) - Scandium project
Ootann - Limestone project
Weipa - Zircon/Rutile project

Listed Investments:

MTE - 56% = $17.8m (Coal)
CBX - 30% = $14.4m (Bauxite)
PMQ - 76% = $4.1m (Tungsten, Moly, Copper/Gold)
ORM - 34% = $1.0m (Gold, Rare Earths)

Total Listed Investments = $37.3m

Investments $37.3m + Cash $8.8m = Total Assets $46.1m ( or $0.39 per share) v Market Cap $25.8m = ~44% discount to NTA

Current share price $0.24

Disc: Nil, but on close watch

Corporate
13-06-2010, 04:03 PM
MLM - Gold Coast Presentation

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=221325

Market Cap $25.8m (117.3m x $0.23)

Cash @ 31/3/10 = $8.8m

Enterprise Value = $15m

Own 100%* of 6 greenfield projects, including:

Nornico - Nickel/Cobalt project
Greenvale - Nickel/Cobalt project
Lucky Break - Nickel
Kokomo (80%) - Scandium project
Ootann - Limestone project
Weipa - Zircon/Rutile project

Listed Investments:

MTE - 56% = $17.8m (Coal)
CBX - 30% = $14.4m (Bauxite)
PMQ - 76% = $4.1m (Tungsten, Moly, Copper/Gold)
ORM - 34% = $1.0m (Gold, Rare Earths)

Total Listed Investments = $37.3m

Investments $37.3m + Cash $8.8m = Total Assets $46.1m ( or $0.39 per share) v Market Cap $25.8m = ~44% discount to NTA

Current share price $0.24

Disc: Nil, but on close watch

Wow sounds like a great find Shasta. The research begins!

shasta
13-06-2010, 05:26 PM
Wow sounds like a great find Shasta. The research begins!

Always like finding these type of companies that fly under the radar, there's a few of them around if you dig around

trackers
13-06-2010, 05:36 PM
Always like finding these type of companies that fly under the radar, there's a few of them around if you dig around


This post from the Age 2 mnths ago is quite interesting (particularly the ties to China at the end):



More to Metallica than heavy metal
BARRY FITZGERALD
April 28, 2010 - 10:05AM

Garimpeiro confesses to long believing that Queensland's one-stop shop in the minerals game, Metallica Minerals, was named in honour of Metallica, the ageing US heavy metal rock band responsible for the sale of more black T-shirts than AC/DC.

But he has been set straight. The company's name comes from "De re metallica," (On the nature of metals), written by the "father of mineralogy," Georg Bauer in Chemnitz , on the northern foothills of eastern Germany's Erzgebirge (ore mountain) in 1556.

A young mining engineer who went on to become president of the US, Herbert Hoover, and his geologist wife, Lou Henry Hoover, did the English speaking world a favour by translating De re metallica in 1912. That was some 14 years after Herbert spent some time in Western Australia as mine manager at the Sons of Gwalia gold mine.

That's the end of the history lesson. Garimpeiro's interest today is in the massive discount to asset value currently on offer in Metallica's share price. As mentioned above, Metallica is something of a one-stop shop for punters in the mining sector, albeit within the confines of Queensland's borders.

Its direct and indirect mining interests in the state stretch from Weipa (bauxite) in the far north to the Surat Basin (coal) in the south. In between there are nickel/cobalt, tungsten/molybdenum and copper/gold interests, much of it through listed investments.

At last count Metallica's listed interests included 56 per cent of MetroCoal (MTE), 29.9 per cent of Cape Alumina (CBX), 76 per cent of Planet Metals (PMQ) and 47 per cent of Orion Metals (ORM). On yesterday's closing prices, the portfolio was worth $52.3 million.

The two big chunks in that are MetroCoal ($28 million) and Cape Alumina ($19.2 million). Both were floated off by Metallica last year. MetroCoal has already attracted the attention of Chinese interests through a big-spending exploration joint venture. Cape Alumina has environmental opposition to overcome but is of serious to the Chinese, given the superior quality of Weipa bauxite compared with their own stuff.

Add Metallica's $8.8 million cash to its portfolio of listed investments and you get a total value for the listed interests and cash of $61.1 million. That is more than double the group's market capitalisation of $30.1 million based on its last closing price of 26.5 cents a share (and after adjusting for the pending share buyback-transfer agreement in CBX with Resource Capital Funds).

But wait, there's more. Not steak knives, but full ownership of the group's flagship project, the Norninco nickel/cobalt/scandium project northwest of Townsville. It now includes the old Greenvale laterite nickel deposits which come with a handy remnant ore position of 38 million tonnes grading 0.8 per cent nickel and associated cobalt.

Greenvale itself was mined between by Freeport and others between 1974-1992 and has the distinction of being Australia's highest grade laterite nickel project to date, with grades of more than 1.5 per cent nickel. But it was a huge loss maker for much of its history. But wrap it in with Metallica's broader interests in the Greenvale nickel belt, and Metallica's ambitions for Norninco start to look interesting.

The return of well-above historical average nickel prices is not going hurt the ambitions either. A staged development is on the cards, with initial annual production of 2900 tonnes of contained nickel and 200 tonnes of high-value the cobalt the likely starting point.

That assumes that Metallica goes it alone. The entry of a big brother already in the nickel game to move things along and on a larger scale is a real possibility. On that score, it is worth noting that an associate of China's Jilin HOROC Nonferrous Metal Group is Metallica's biggest shareholder at 18.8 per cent of the company. Not very imaginative with company names the Chinese.

I see MLM has rallied 20% in the last 5 days, could've found this one a week ago shasta! Just kidding, nice find :)

shasta
15-06-2010, 09:41 PM
This post from the Age 2 mnths ago is quite interesting (particularly the ties to China at the end):



I see MLM has rallied 20% in the last 5 days, could've found this one a week ago shasta! Just kidding, nice find :)

MLM has sent in an amended presentation & dropped 2c to 22c today.

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=221353

Page 19 has a slight correction (save you trainspotters some time!)

NTA (Listed Investments + Cash as per spreadsheet) = $0.39

I'll keep updating the discount of the share price to NTA, like i did with SRL, eventually the market caught up & SRL doubled!

Lets hope MLM does the same, technically it's still in a downtrend

shasta
17-06-2010, 07:04 PM
MLM has sent in an amended presentation & dropped 2c to 22c today.

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=221353

Page 19 has a slight correction (save you trainspotters some time!)

NTA (Listed Investments + Cash as per spreadsheet) = $0.39

I'll keep updating the discount of the share price to NTA, like i did with SRL, eventually the market caught up & SRL doubled!

Lets hope MLM does the same, technically it's still in a downtrend

MLM share price $0.23, as MTE has increased

NTA = $0.41

Discount to NTA = 44%

shasta
21-06-2010, 05:34 PM
MLM share price $0.23, as MTE has increased

NTA = $0.41

Discount to NTA = 44%

MLM's 56% owned stake in MTE reported a 500% increase in Bundi Coal Resource (58mt to 292mt)

Market really hasnt taken this in, not a big rise in MTE or MLM!

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=221451

MLM's 76% owned stake in PMQ reported a HoA to sell the Wolfram Camp Project (Tungsten) for $8m

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=221457

MLM share price $0.235

NTA = $0.42

Discount to NTA = 45%

shasta
26-06-2010, 12:49 AM
MLM's 56% owned stake in MTE reported a 500% increase in Bundi Coal Resource (58mt to 292mt)

Market really hasnt taken this in, not a big rise in MTE or MLM!

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=221451

MLM's 76% owned stake in PMQ reported a HoA to sell the Wolfram Camp Project (Tungsten) for $8m

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=221457

MLM share price $0.235

NTA = $0.42

Discount to NTA = 45%

Friday's update

MLM share price $0.23

NTA = $0.40

Discount to NTA = 42%

IMO the disconnect between the SP & NTA must be due to the 30% holding in ASX:CBX (worth ~$15.4m @ $0.40)

The Queensland Govt has some serious environmental concerns on CBX's large Bauxite project, which is on hold pending appeals.

For now the upside is largely with MLM's 100% owned Nickel/Cobalt project (Nornico), & it's 56% (~$20m) holding in ASX:MTE (a coal company)

shasta
30-06-2010, 09:02 PM
Friday's update

MLM share price $0.23

NTA = $0.40

Discount to NTA = 42%

IMO the disconnect between the SP & NTA must be due to the 30% holding in ASX:CBX (worth ~$15.4m @ $0.40)

The Queensland Govt has some serious environmental concerns on CBX's large Bauxite project, which is on hold pending appeals.

For now the upside is largely with MLM's 100% owned Nickel/Cobalt project (Nornico), & it's 56% (~$20m) holding in ASX:MTE (a coal company)

MLM - Current Share Price $0.21

NTA = $0.39 (Listed Investments + Cash)

Discount to NTA = 47%

shasta
02-07-2010, 09:27 PM
MLM might be value from a fundamental view due to Substantial (holding?) Volume leaving the share register as we can see via OBV since April this year.

Has been a very poor share price performer the last 3 years, question is why doesn't the market like it ?


Added to watch list will do some research.

AA

Just think its so far off the radar & with little liquidity, eventually these plays get "noticed" & the discount evaporates

Friday's update

MLM - share price $0.225

NTA = $0.40

Discount to NTA = 43%

Remember i tracked SRL when it was under $1, doing the same as this & it eventually restructured itself to unlock the value & it doubled!

Disc: Nil

shasta
03-07-2010, 03:43 PM
Im remember in November 2008 you totally amazed me with your analysis, when every thing was tanking and the world was ending I was scanning for stocks which had the greatest falls relative to time (using my adx above 50 method) and you where posting the most fundamentally awesome stocks, what amazed me most is they were the same companies, which were few and far between at the time,as i was screening for extremes. For all those companies after the world stopped ending, many, if not most of those companies gained 100% plus . Your analysis is awesome how you found those companies amongst 1000's ill never know. You truly are good at what you do.

Will always follow your posts, your a great fundamental researcher.

AA

Gee thanks, how kind

On my various ASX watchlists i follow at least 100 stocks at a time, over different sectors & i replace them with better stocks that i uncover.

Those that have had a strong run, or the fundamentals have changed from when i first found them get culled.

Always looking for value, but as im out of the market (due to personal circumstances) im still following stocks closely for when im back in.

shasta
09-07-2010, 07:47 PM
Gee thanks, how kind

On my various ASX watchlists i follow at least 100 stocks at a time, over different sectors & i replace them with better stocks that i uncover.

Those that have had a strong run, or the fundamentals have changed from when i first found them get culled.

Always looking for value, but as im out of the market (due to personal circumstances) im still following stocks closely for when im back in.

MLM - Friday Update

Share price $0.21

NTA = $0.36 (CBX traded just 3,000 shares @ $0.30, a whole $900 trade wiped 1/4 off MLM's investment in CBX!)

Discount to NTA = 41%

shasta
16-07-2010, 05:59 PM
MLM - Friday's Update

MTE - Ann re Chinese $30m investment (56% owned by MLM)

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=222141

MLM share price $0.225

NTA = $0.39

Discount to NTA = 43%

shasta
21-07-2010, 04:58 PM
MLM - Friday's Update

MTE - Ann re Chinese $30m investment (56% owned by MLM)

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=222141

MLM share price $0.225

NTA = $0.39

Discount to NTA = 43%

MLM - Lucknow Ni-Co-Scandium drill results

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=222215

16 pages, on one of MLM's projects in there own right, MLM isn't just an LIC!

shasta
28-07-2010, 07:10 PM
MLM - Lucknow Ni-Co-Scandium drill results

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=222215

16 pages, on one of MLM's projects in there own right, MLM isn't just an LIC!

MTE - Surat Coal Drilling Project (MLM own 56%)

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=222376

China Coal Extension Granted

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=222378

shasta
29-07-2010, 04:09 PM
MTE - Surat Coal Drilling Project (MLM own 56%)

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=222376

China Coal Extension Granted

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=222378

ORM - Exploration Activity Update (MLM owns 34%)

http://www.stocknessmonster.com/news-item?S=ORM&E=ASX&N=222415

Very much a greenfields explorer, focusiing on cooper, gold & rare earths

shasta
31-07-2010, 08:07 PM
ORM - Exploration Activity Update (MLM owns 34%)

http://www.stocknessmonster.com/news-item?S=ORM&E=ASX&N=222415

Very much a greenfields explorer, focusiing on cooper, gold & rare earths

MLM - June Quarterly Activities & Cashflow Report

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=222506

Quite a long report as it contains all the activities of there listed investments (MTE, CBX, PMQ, ORM)

MLM share price = $0.23

NTA @ 30/7/10 = $0.36

Discount to NTA = 37%

shasta
26-08-2010, 02:56 PM
MLM - June Quarterly Activities & Cashflow Report

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=222506

Quite a long report as it contains all the activities of there listed investments (MTE, CBX, PMQ, ORM)

MLM share price = $0.23

NTA @ 30/7/10 = $0.36

Discount to NTA = 37%

Will update the MLM's NTA figures after close of play tonight

MTE - Takes option to invest in Indonesian Coal projects

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=223226

Remember the chinese have pumped $30m into MTE & they have some prime real estate in the surat basin (the CSG hot spot)

shasta
28-08-2010, 03:02 PM
Will update the MLM's NTA figures after close of play tonight

MTE - Takes option to invest in Indonesian Coal projects

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=223226

Remember the chinese have pumped $30m into MTE & they have some prime real estate in the surat basin (the CSG hot spot)

MLM share price = $0.255

NTA = $0.38

Discount to NTA = 33%

MLM's market cap @ $0.255 = $31.9m

So for $31.9m you get:

Cash Est @ 31/8/10 = $5.5m*

Listed Investments:

MTE $23.6m (@ $0.295)
CBX $12.7m (@ $0.33)
PMQ $4.8m (@ $0105)
ORM $0.8m (@ $0.047)

Total LI = $41.9m

* Cash @ 30/6 was $7.1m (Less: Est Sept Qtr Exploration & Development costs $1.95m, + Admin expenses $0.45m = $2.4m x 2/3)

Plus all of MLM's own projects that have NO value attributed to them!

Phaedrus
28-08-2010, 06:22 PM
The MetaStock TA software that I use provides well over a hundred technical indicators. On top of that I have created many indicators of my own - but who needs 'em? Here we have a chart utilising nothing more than the Closing price and a simple Volume indicator. Judge for yourself how effective these have been in providing MLM trading signals.

Over the 20 month period covered by this chart, the OBV volume indicator has triggered just one sell signal and just one buy signal. Volume changes are supposed to precede price changes, so the OBV should be a leading indicator, providing signals ahead of those derived from price action. That is exactly what happened here with each OBV signal being followed within a few days by price action breaking through an established confirmed trendline. The Red arrow marks the trendline-break Sell signal and the green arrow marks the trendline break Buy signal.

Following the Buy signals, MLM went into a "medium-term" (3 month) uptrend. There is a confirmed trendline in place.

http://i602.photobucket.com/albums/tt102/PhaedrusPB/MLM828.gif

In an attempt to temper Shasta's enthusiasm for this stock, it is important to realise that MLM is still in a "longterm" (15 month) downtrend and that the "longterm" trendline is still unbroken.

PhaedrusFollower
03-09-2010, 03:12 PM
Well, I liked the look of the above graph, so bought into MLM at 25.5 on 29th...and the uptred continues as it rolls through 29...and by my careful TA calculations...the long term downtrend is broken...

So the question is: Will OBV signal be enough to tell me when to get out? Or perhaps...will it be the first to tell me to get out?

shasta
06-09-2010, 04:18 PM
Well, I liked the look of the above graph, so bought into MLM at 25.5 on 29th...and the uptred continues as it rolls through 29...and by my careful TA calculations...the long term downtrend is broken...

So the question is: Will OBV signal be enough to tell me when to get out? Or perhaps...will it be the first to tell me to get out?

MLM - 76% owned PMQ - sale of Wolfram Camp Tungsten Project (85% interest)

http://www.stocknessmonster.com/news-item?S=PMQ&E=ASX&N=223640

The total sale price of $8m is more than PMQ's current market cap, but it was there key project.

MLM should really acquire the balance of PMQ they don't hold & use the cash to develop there other projects

PhaedrusFollower
07-09-2010, 01:35 PM
Thanks Very Much for that Shasta...I was wondering why there was such interest today....will that 30c resistance get broken or not...it's been tested all day and a few times in the last 6 months...

shasta
07-09-2010, 09:51 PM
Thanks Very Much for that Shasta...I was wondering why there was such interest today....will that 30c resistance get broken or not...it's been tested all day and a few times in the last 6 months...

I'll update the MLM spreadsheet each day now it's starting to turn around chart wise

MLM share price $0.30

NTA (Listed Investments + Est Cash) = $0.40

Value attributed to MLM's own projects = $0

Discount to NTA = 26%

shasta
10-09-2010, 12:51 AM
I'll update the MLM spreadsheet each day now it's starting to turn around chart wise

MLM share price $0.30

NTA (Listed Investments + Est Cash) = $0.40

Value attributed to MLM's own projects = $0

Discount to NTA = 26%

MLM - 34% owned ORM project acquistion

http://www.asx.com.au/asxpdf/20100909/pdf/31sf2m9365l2jj.pdf

HREE, Gold & Uranium (close to NTU's HREE project)

ORM share price up +6.5c today to 15c (+76.47%)

shasta
13-09-2010, 01:27 PM
MLM - 34% owned ORM project acquistion

http://www.asx.com.au/asxpdf/20100909/pdf/31sf2m9365l2jj.pdf

HREE, Gold & Uranium (close to NTU's HREE project)

ORM share price up +6.5c today to 15c (+76.47%)

MLM - 56% owned MTE - China Coal receives final approval (for $30m investment)

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=223847

pS. Check the Surat Basin map, this is right among the CSG highway!

shasta
13-09-2010, 08:25 PM
MLM - 56% owned MTE - China Coal receives final approval (for $30m investment)

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=223847

pS. Check the Surat Basin map, this is right among the CSG highway!

MLM Update:

MLM share price $0.28 (Market Cap ~$35m @ $0.28)

NTA = $0.42 (Listed Investments ~$46.8m + Est cash ~$5.5m = $52.3m)

Discount to NTA = 33%

shasta
15-09-2010, 12:21 PM
MLM Update:

MLM share price $0.28 (Market Cap ~$35m @ $0.28)

NTA = $0.42 (Listed Investments ~$46.8m + Est cash ~$5.5m = $52.3m)

Discount to NTA = 33%

MLM - 56% owned MTE

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=223920

Bank of America have increased there stake to 11.1%

shasta
20-09-2010, 01:33 PM
MLM - 56% owned MTE

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=223920

Bank of America have increased there stake to 11.1%

MLM - Nornico Scoping Study Summary

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=224037

MLM's 100% owned flagship project (which the market is attributing NO VALUE to it)

Production anticipated for 2013, with a 10 year LoM, for 2,700T Ni, 160T Co, 7,500kg Sc (Sc = Scandium) = Annual Revenue/Operating cashflow ~ $A45m

Ni cash costs of <$US3/lb when including cobalt & scandium credits

MLM - Media Release

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=224040

MLM - Presentation Excellence Mining & Exploration

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=224042

A great read on why MLM is so undervalued!

shasta
30-09-2010, 04:53 PM
MLM - Nornico Scoping Study Summary

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=224037

MLM's 100% owned flagship project (which the market is attributing NO VALUE to it)

Production anticipated for 2013, with a 10 year LoM, for 2,700T Ni, 160T Co, 7,500kg Sc (Sc = Scandium) = Annual Revenue/Operating cashflow ~ $A45m

Ni cash costs of <$US3/lb when including cobalt & scandium credits

MLM - Media Release

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=224040

MLM - Presentation Excellence Mining & Exploration

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=224042

A great read on why MLM is so undervalued!

MLM Update (as at 28/9):

Share price $0.29 (Market Cap ~$36.2m)

NTA = $0.42 (Est Cash $4.7m, + Listed Investments ~$47.9m)

Discount to NTA = 31%

shasta
04-10-2010, 08:34 PM
MLM Update (as at 28/9):

Share price $0.29 (Market Cap ~$36.2m)

NTA = $0.42 (Est Cash $4.7m, + Listed Investments ~$47.9m)

Discount to NTA = 31%

MLM update as at 4/10/10

MLM share price $0.28 (down today despite ALL of there listed investments going up!)

NTA = $0.44

Discount to NTA = 36%

shasta
05-10-2010, 12:08 PM
MLM update as at 4/10/10

MLM share price $0.28 (down today despite ALL of there listed investments going up!)

NTA = $0.44

Discount to NTA = 36%

MLM's 56% owned MTE

MTE - China Coal JV Underway (CCIEC to invest $30m into MTE)

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=224615

MLM provides an undervalued indirect interest into MTE, which is MLM's largest asset in value

trackers
05-10-2010, 12:30 PM
MLM's 56% owned MTE

MTE - China Coal JV Underway (CCIEC to invest $30m into MTE)

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=224615

MLM provides an undervalued indirect interest into MTE, which is MLM's largest asset in value

China's throwing 30mil at it for 50%, and MTE market cap = 20mil? Hhhmmm..

I'd be much more interested in this stock if you didn't need a degree to unravel their organisation to a meaningful level

shasta
05-10-2010, 12:52 PM
China's throwing 30mil at it for 50%, and MTE market cap = 20mil? Hhhmmm..

I'd be much more interested in this stock if you didn't need a degree to unravel their organisation to a meaningful level

MTE have around 141m shares on issue the 80m that MLM own are held in escrow. (I see Trading Room incorrectly shows 61m shares)

MLM's 80m shares are worth $27.2m, so MTE's market cap is ~$48m, but the $30m injected makes it interesting

I've tried to simplify & spell out the discount to NTA! (i update a spreadsheet when i remember)

I gave up with DGR, if you go thru that thread & the presentation, as they have holdings on other exchanges the listed investments are worth more than 3 times the market cap!

trackers
05-10-2010, 01:21 PM
Yep, thanks for doing that Shasta, I for one appreciate it and have been following the thread quite closely.

I see ORM has gone from 5c to just under 30c in a month, on the back of the REE boom.

shasta
05-10-2010, 01:23 PM
Yep, thanks for doing that Shasta, I for one appreciate it and have been following the thread quite closely.

I see ORM has gone from 5c to just under 30c in a month, on the back of the REE boom.

ORM is unfortunately MLM's smallest holding, so its only gone up a few million, but yeah crazy increase given its such an early stage explorer

shasta
08-10-2010, 09:23 PM
ORM is unfortunately MLM's smallest holding, so its only gone up a few million, but yeah crazy increase given its such an early stage explorer

Friday update:

MLM share price $0.305

NTA = $0.44

Discount to NTA = 31%

shasta
12-10-2010, 01:56 PM
Friday update:

MLM share price $0.305

NTA = $0.44

Discount to NTA = 31%

MLM - Annual Report to Shareholders

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=224821

A good read, not just for background on there listed investments, but about Nornico in particular, there flagship project 4 Nickel, Cobalt & Scandium

MTE - (56% owned by MLM) Presentation to the Coal Exploration Conference

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=224829

MTE has alot of acreage in the Surat Basin, the home of many CSG companies

Page 7 highlights some linkage to Arrow Energy, Pages 18 & 19 relate to MTE's interest in UCG

soulman
12-10-2010, 08:26 PM
MLM - Annual Report to Shareholders

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=224821

A good read, not just for background on there listed investments, but about Nornico in particular, there flagship project 4 Nickel, Cobalt & Scandium

MTE - (56% owned by MLM) Presentation to the Coal Exploration Conference

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=224829

MTE has alot of acreage in the Surat Basin, the home of many CSG companies

Page 7 highlights some linkage to Arrow Energy, Pages 18 & 19 relate to MTE's interest in UCG

You are on to something here Shasta, but the market are ignoring it. Sellers outrank buyers in MLM and I don't have a clue why either.

shasta
12-10-2010, 09:11 PM
You are on to something here Shasta, but the market are ignoring it. Sellers outrank buyers in MLM and I don't have a clue why either.

MLM reminds a bit me of SRL, for ages i posted about the disconnect between its share price & NTA, & eventually the market caught on, after SRL had a "strategic review" to unlock value.

MTE is MLM's biggest investment & the Chinese are putting in $30m to fast track there projects in the Surat Basin.

MLM's investment in CBX is largely on hold, as the Qld Govt has environmental concerns over the project.

PMQ has sold off a project for more than its market cap, & ORM has has a massive run up over the last month due to the REE excitement & there drill results.

That said MLM stacks up fundamentally, even though its not overly liquid, & i guess the TA doesn't stack up.

I'll keep the thread up to date, as im doing with DGR, as the discount won't last forever!

shasta
13-10-2010, 03:27 PM
Both ORM & MTE have had trading halts today

Capital raisings for both, MLM should be supportive of these, especially with ORM's share price performance over the last month

shasta
14-10-2010, 08:09 PM
Both ORM & MTE have had trading halts today

Capital raisings for both, MLM should be supportive of these, especially with ORM's share price performance over the last month

MLM Update:

MLM share price +4c today to 34.5c on nearly 1m turnover

NTA still @ $0.44

Discount to NTA = 21%

STRAT
14-10-2010, 08:19 PM
Hi Shasta.
This one has been on the rise since July but todays action may get some attention.

soulman
14-10-2010, 08:45 PM
I had a position at 29.5 and took another one today. Seems to me the market had woken up.

Also, the discount to NTA does not include potential upside of MLM flagship projects.

shasta
15-10-2010, 12:58 PM
I had a position at 29.5 and took another one today. Seems to me the market had woken up.

Also, the discount to NTA does not include potential upside of MLM flagship projects.

Absolutely right Soulman.

MLM's flagship project Nornico (Nickel, Cobalt & Scandium) could support its current market cap, without any of there listed investments!

I'm picking they will spin this project out to fund it into development/production (the same model as DGR uses)

soulman
15-10-2010, 05:40 PM
Definitely MLM is in the prime position to take advantage of the strong demand for resources stocks. The market has awoken to MLM and maybe the presentation to the Perth mining community on the 13th Oct that does the trick as well as TA.

shasta
19-10-2010, 04:26 PM
Definitely MLM is in the prime position to take advantage of the strong demand for resources stocks. The market has awoken to MLM and maybe the presentation to the Perth mining community on the 13th Oct that does the trick as well as TA.

MLM - 56% owned MTE - 30% increase in Bundi Coal Resource to 381mt

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=225059

Page 2 highlights there underground thermal coal & UCG resources

With a Chinese company to put $30m into MTE, there resource upgrades should keep increasing as they step up the drilling, providing plenty of positive news for MTE for the rest of the year.

shasta
13-11-2010, 03:25 PM
MLM - 56% owned MTE - 30% increase in Bundi Coal Resource to 381mt

http://www.stocknessmonster.com/news-item?S=MTE&E=ASX&N=225059

Page 2 highlights there underground thermal coal & UCG resources

With a Chinese company to put $30m into MTE, there resource upgrades should keep increasing as they step up the drilling, providing plenty of positive news for MTE for the rest of the year.

When my computer died i lost my MLM & DGR spreadsheets with all there listed investments updated, good to see MLM have been pro active & sent to the market an analysis that shows there listed investments are worth far more than its market cap (not to mention MLM's own 100% owned projects!)

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=226151

Disc: Nil

percy
15-11-2010, 03:45 PM
Hi shasta,
I have been having so much fun with SRZ, that I sold my TPI and brought a few MLM at 33 cents and DGR at 14 cents today.I would hate to admit to how much money the TPI have cost me.
Just been lazy not selling them a long time ago.

shasta
15-11-2010, 05:37 PM
Hi shasta,
I have been having so much fun with SRZ, that I sold my TPI and brought a few MLM at 33 cents and DGR at 14 cents today.I would hate to admit to how much money the TPI have cost me.
Just been lazy not selling them a long time ago.

I hope you do well especially with DGR, there's 4 or 5 spin offs coming in the next few months & DGR shareholders get priority entitlements.

I'd like DGR to unlock some further value for shareholders by retaining say a 20% stake in the spin offs, & giving half there shares as part of an in-specie distribution to DGR shareholders, that would create more interest in DGR in the lead up to future announcements.

shasta
16-11-2010, 04:42 PM
I hope you do well especially with DGR, there's 4 or 5 spin offs coming in the next few months & DGR shareholders get priority entitlements.

I'd like DGR to unlock some further value for shareholders by retaining say a 20% stake in the spin offs, & giving half there shares as part of an in-specie distribution to DGR shareholders, that would create more interest in DGR in the lead up to future announcements.

MLM's 56% owned MTE

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=226236

Great permits in the Surat basin next to Xstrata, with map showing Linc & Cougar Energy's UCG permits nearby.

MTE is the main driver of the MLM share price, & well funded with the $30m injection from the chinese

shasta
24-11-2010, 07:30 PM
MLM's 56% owned MTE

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=226236

Great permits in the Surat basin next to Xstrata, with map showing Linc & Cougar Energy's UCG permits nearby.

MTE is the main driver of the MLM share price, & well funded with the $30m injection from the chinese

MLM's 56% owned MTE (Metrocoal)

Metrocoal signs WICET Feasibility funding deed

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=226574

MTE has great acreage in the Surat basin for both coal & UCG/CSG potential

Carbon Energy, Linc Energy, New Hope & Xstrata all have permits near to or adjoining MTE's, surely only a matter of time before a bigger company comes along.

shasta
02-12-2010, 07:40 PM
MLM's 56% owned MTE (Metrocoal)

Metrocoal signs WICET Feasibility funding deed

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=226574


MTE has great acreage in the Surat basin for both coal & UCG/CSG potential

Carbon Energy, Linc Energy, New Hope & Xstrata all have permits near to or adjoining MTE's, surely only a matter of time before a bigger company comes along.

MLM - 56% owned MTE - Drilling Commenced on Columboola Poal Project

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=226999

MTE has 2 clear objectives:

1. Thermal coal from underground or open cut mining

2. UCG - to turn gas into a clean liquid fuel

shasta
08-12-2010, 07:26 PM
MLM - 56% owned MTE - Drilling Commenced on Columboola Poal Project

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=226999

MTE has 2 clear objectives:

1. Thermal coal from underground or open cut mining

2. UCG - to turn gas into a clean liquid fuel

MLM - 100% owned Nornico Ni-Cu-Scandium project, drilling results & update

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=227175

This is there flagship project, & maybe be spun out to self fund its drilling (like DGR does)

shasta
19-01-2011, 03:36 PM
MLM - 100% owned Nornico Ni-Cu-Scandium project, drilling results & update

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=227175

This is there flagship project, & maybe be spun out to self fund its drilling (like DGR does)

MLM - More news on there flagship project "Nornico" (Nickel, Cobalt, Scandium)

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=228298

Production anticipated in 2013, with JORC resource of 83,000T Nickel & 6,400T Cobalt + Scandium

shasta
08-02-2011, 04:29 PM
MLM - More news on there flagship project "Nornico" (Nickel, Cobalt, Scandium)

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=228298

Production anticipated in 2013, with JORC resource of 83,000T Nickel & 6,400T Cobalt + Scandium

MLM - MTE signs drilling contract for Surat Basin Coal project

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=228867

Remember this project has a dual focus, on thermal coal & UCG

Huang Chung
08-02-2011, 10:24 PM
Hi Shasta

I'll post my reply here, rather than on the HUN thread.

When your talking about the Surat basin, you're pretty much talking thermal coal. The higher margin coking coals tend to be found further north, in the Bowen Basin.

Certainly a large exploration target, 'down dip' of some well known deposits. I presume that this really means that these dipping seams are only now becoming increasingly attractive due to higher coal prices. Speaking in general terms, you are looking at mining lower priced thermal coal (relative to coking coal) in an underground operation (generally higher cost), and a fair distance from port (Gladstone).

I also presume they intend to make use of the ' Southern Missing Link' to get their coal to Gladstone. This has yet to be built. There is a small coal terminal at the Port of Brisbane (Qld Bulk Handling), which is wholly owned by New Hope. I believe New Hope allow third party access, but doubt it will be the solution Metro Coal would be looking for.

http://www.suratbasinrail.com.au/news-surat-basin-rail.php

What's Metro Coals Mkt Cap and EV?

shasta
08-02-2011, 10:35 PM
Hi Shasta

I'll post my reply here, rather than on the HUN thread.

When your talking about the Surat basin, you're pretty much talking thermal coal. The higher margin coking coals tend to be found further north, in the Bowen Basin.

Certainly a large exploration target, 'down dip' of some well known deposits. I presume that this really means that these dipping seams are only now becoming increasingly attractive due to higher coal prices. Speaking in general terms, you are looking at mining lower priced thermal coal (relative to coking coal) in an underground operation (generally higher cost), and a fair distance from port (Gladstone).

I also presume they intend to make use of the ' Southern Missing Link' to get their coal to Gladstone. This has yet to be built. There is a small coal terminal at the Port of Brisbane (Qld Bulk Handling), which is wholly owned by New Hope. I believe New Hope allow third party access, but doubt it will be the solution Metro Coal would be looking for.

http://www.suratbasinrail.com.au/news-surat-basin-rail.php

What's Metro Coals Mkt Cap and EV?

Thanx for that HC

So the UCG might be the way forward for them, given the number of CSG companies in the area?

MTE @ 30c has a $29m market cap & EV is $15m ($15m cash @ 31/12/10)

Huang Chung
08-02-2011, 10:52 PM
There are plenty of people here who know more about CSG and UCG than I do.

Sections of the farming communities west of Brisbane are agitated about the use of prime agricultural land for coal and gas production, and the possible contamination of the water table by toxins from UCG. Check out Cougar Energy if you haven't already done so.

http://www.abc.net.au/news/stories/2011/01/28/3124052.htm

http://www.abc.net.au/news/stories/2011/02/03/3128805.htm

shasta
08-02-2011, 11:01 PM
There are plenty of people here who know more about CSG and UCG than I do.

Sections of the farming communities west of Brisbane are agitated about the use of prime agricultural land for coal and gas production, and the possible contamination of the water table by toxins from UCG. Check out Cougar Energy if you haven't already done so.

http://www.abc.net.au/news/stories/2011/01/28/3124052.htm

http://www.abc.net.au/news/stories/2011/02/03/3128805.htm

I was more after your knowledge of Queenland based coal projects, especially the Surat/Bowen Basins

CSG & UCG really need domestic gas prices to rise quite a bit to really gain traction, as i understand it the main attraction is getting LNG via Gladstone to the Asian markets

How's the coal industry holding up after the Cyclone & floods?

Oh i should mention the attraction with MTE (not just the MLM link) was the fact a Chinese company invested $30m into there projects

Huang Chung
08-02-2011, 11:07 PM
Shasta, if you're specifically after a Queensland coal play, you might like to take a look at Blackwood Corporation (BWD).

Cheap and some good prospects in both the Bowen and Surat Basins (and Clarence-Moreton and Galilee Basins), including the possibility of coking coal, but you need to take a 12 to 18 month view. Noble Group are a cornerstone shareholder.

Disc: Hold a few.

shasta
08-02-2011, 11:09 PM
Shasta, if you're specifically after a Queensland coal play, you might like to take a look at Blackwood Corporation (BWD).

Cheap and some good prospects in both the Bowen and Surat Basins (and Clarence-Moreton and Galilee Basins), including the possibility of coking coal, but you need to take a 12 to 18 month view. Noble Group are a cornerstone shareholder.

Disc: Hold a few.

Cheers i'll add them to my "follow up" list, already got BND to look at

Huang Chung
08-02-2011, 11:15 PM
How's the coal industry holding up after the Cyclone & floods?



I haven't been keeping up with it too closely, but the cyclone would have had minimal effect, if any. The flooding was a different story, although I understand a lot of mines were better prepared this time around compared to 2008 when we also had serious flooding in the coalfields. The was significant rail damage as well, but I presume they are well on top of the repairs that were required.

shasta
15-02-2011, 02:32 PM
I haven't been keeping up with it too closely, but the cyclone would have had minimal effect, if any. The flooding was a different story, although I understand a lot of mines were better prepared this time around compared to 2008 when we also had serious flooding in the coalfields. The was significant rail damage as well, but I presume they are well on top of the repairs that were required.

MLM - DRILLING RESUMES ON COLUMBOOLA COAL PROJECT

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=229038

Nice map showing what great permits they have in the Surat Basin, also showing who there neighbours are

The recommencement of the drilling program is a positive progression for the Joint Venture between MetroCoal and SinoCoal Resources, the Australian subsidiary of China Coal Import & Export Company (CCIEC), a wholly owned subsidiary of China National Coal Group Corp (China Coal).

These folk are putting $30m into MTE for this project


Market Cap is approx $37m (@ 37c) & they have around $15m cash

shasta
07-03-2011, 06:45 PM
MLM's ~30% owned CBX

http://stocknessmonster.com/news-item?S=CBX&E=ASX&N=229873

This bauxite company has had an ongoing battle with the Queensland Govt over consent issues, im not too sure where these are at, the project looks viable & should obtain "major project status" on the basis it receives the required consents

lawrence
07-03-2011, 08:20 PM
This company is my example of a term used in share trading " A Dog " got on at IPO for .20c many,many years ago and its so called "Flag Ship" has never left the port, it has to change its name

shasta
07-03-2011, 09:27 PM
This company is my example of a term used in share trading " A Dog " got on at IPO for .20c many,many years ago and its so called "Flag Ship" has never left the port, it has to change its name

MLM - New presentation out today

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=229988

Extract from the ann...

Become a highly profitable long term diversified developer & producer – flagship NORNICO

• NORNICO Ni-Co-Sc production targeted late 2013
• Zircon-Rutile production targeted early 2013
• Limestone/Lime projects ready for development awaiting market off-take
• High social, environmental and safety standards
• Deliver high returns for shareholders

Quite a large Nickel project in the making!

percy
08-03-2011, 04:02 PM
MLM - New presentation out today

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=229988

Extract from the ann...

Become a highly profitable long term diversified developer & producer – flagship NORNICO

• NORNICO Ni-Co-Sc production targeted late 2013
• Zircon-Rutile production targeted early 2013
• Limestone/Lime projects ready for development awaiting market off-take
• High social, environmental and safety standards
• Deliver high returns for shareholders

Quite a large Nickel project in the making!

I thought the presentation was excellent.Very happy to hold.

shasta
21-03-2011, 04:53 PM
I thought the presentation was excellent.Very happy to hold.

MLM - The market tends to forget MLM is more than just a LIC, they have some decent projects in there own right!

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=230369

MTE - SURAT BASIN COAL PROJECT REGION GIVEN FURTHER SUBSTANTIAL BOOST FOLLOWING COMMONWEALTH GOVERNMENT APPROVAL FOR WANDOAN COAL PROJECT

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=230374

shasta
22-03-2011, 12:02 AM
MLM - The market tends to forget MLM is more than just a LIC, they have some decent projects in there own right!

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=230369

MTE - SURAT BASIN COAL PROJECT REGION GIVEN FURTHER SUBSTANTIAL BOOST FOLLOWING COMMONWEALTH GOVERNMENT APPROVAL FOR WANDOAN COAL PROJECT

http://stocknessmonster.com/news-item?S=MTE&E=ASX&N=230374

I've rehashed the spreadsheet i had lost on MLM, my interest remains as like DGR these are NEGATIVE EV plays ;)

Based on todays closing prices

MLM @ $0.27 = MCap $33.7m

Cash @ 31/1 = $4.9m

Listed Investments = $44.5m (MTE $24.8m, CBX $13.7m, PMQ $3.9m, ORM $2.1m)

EV = ($15.6m) NEGATIVE

NTA = 40cps

This is before ANY consideration of MLM's own projects

Corporate Strategy/Mission & Vision

• Become a highly profitable long term diversified developer & producer – flagship NORNICO
• NORNICO Ni-Co-Sc production targeted late 2013
• Zircon-Rutile production targeted early 2013
• Limestone/Lime projects ready for development awaiting market off-take
• High social, environmental and safety standards
• Deliver high returns for shareholders

Strategic Objectives

• Generate Cashflow Business (NORNICO and Weipa HMS or Limestone or combination)
• Become producer Ni-Co-Sc & world’s major Sc supplier
• Maximise our (4) ASX listed Investment holdings (MTE, CBX, PMQ, ORM)
• Maintain adequate funding and high quality staff

shasta
04-04-2011, 11:32 AM
MLM - In specie Distribution of CBX shares

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=230794

For every 10 MLM shares you will receive 1 CBX share

shasta
09-04-2011, 04:19 PM
MLM - NTA Update

MLM @ $0.26 = MCap $33.7m

Cash est @ $4m

Listed Investments:

ASX: MTE = $24.8m
ASX:CBX* = $13.7m (NB, MLM hold 38.6m shares & are distributing 11.7m to MLM shareholers on a 1:10 basis)
ASX: ORM = $2.1m
ASX:PMQ = $3.9m

Total LI = $44.5m

NTA = 40c (The inspecie distribution will help narrow the NTA gap)

Discount to NTA = 31.71%

*NB, There is some value in the CBX in specie distribution, even though it very illiquid, the entitlement date is 11th May

Based on current share prices 10k shares in MLM is worth $2,600, you will receive 1,000 CBX shares worth $3,550, at last traded price

MLM are giving money away, unless CBX drops below 26c between now & 11/5/11!

Gotta love these negative EV plays!

CBX is a Queensland based Bauxite Explorer

Heres a recent ann:
http://stocknessmonster.com/news-item?S=CBX&E=ASX&N=229873

Quarterly Activities Report:
http://stocknessmonster.com/news-item?S=CBX&E=ASX&N=228467

Corporate
09-04-2011, 05:36 PM
Based on current share prices 10k shares in MLM is worth $2,600, you will receive 1,000 CBX shares worth $3,550, at last traded price

shasta while reading this I thought it was too good to be true. I think you mean 1,000 CBX shares would be worth $355 :D

shasta
09-04-2011, 07:21 PM
shasta while reading this I thought it was too good to be true. I think you mean 1,000 CBX shares would be worth $355 :D

Yes you are quite right, i wrote down 10,000 CBX shares, but meant 1,000

Apologies for any confusion

I see the top 20 owns 98.7% of CBX, no wonder its illiquid, this should free up the stock a bit

shasta
16-04-2011, 01:36 AM
MLM - NTA Update

MLM @ $0.28 = MCap $35.6m

Cash est @ $4m

Listed Investments:

MTE @ 41c = $32.8m
CBX @ 35.5c = $13.7m
PMQ @ 9.5c = $4.3m
ORM @ 22c = $2.6m

Total LI = $53.4m

NTA = 46c (largely due to MTE's run 31 - 41c this week)

Discount to NTA = 38%

steve fleming
30-04-2011, 02:12 PM
Interesting thoughts on MLM and others:

__________________________________________________ __________________________________________________

Dryblower on value gaps, or traps, in the market


Wednesday, 27 April 2011


TOO many companies and not enough investors. That's how Dryblower sees the small end of the Australian mining sector, where an interesting "disconnection" has evolved, a situation that might generate fat profits for anyone with an appetite for risk.


Before taking this discussion too far, a word of warning: Dryblower does not give investment advice. Never has, never will. So, if you buy any of the shares about to be mentioned consider yourself a blithering idiot - and don't complain.

What triggered this idle thought about what might be called "arbitrage" situations, which is a fancy description for a value gap, was a rather sad email last week from the public relations consultants to Metallica Minerals.

"Metallica's cash and listed investments value outrank company's current market price by 72%" was the heading on an email which sounded like a plea from a lost soul as much as a desperate attempt to boost Metallica's share price.

For those reasons, and perhaps because it also sounded like utter rubbish, the PR blurb and accompanying statement from Metallica was totally ignored. Filed at the Australian Securities Exchange at 10.33am on Tuesday, April 19, the company's shares opened and closed at the same price, A27.5c.

By the pre-Easter close of business last Thursday, Metallica had "stormed" up to 28.5c, which means the alleged value gap has narrowed to 68.5% - or, put another way, anyone buying Metallica shares today is handing over 59c for $1.

Why is this so, and can Metallica prove its value gap?

Second question first. Yes, Metallica can run an argument that its underlying value is being heavily discounted. The core of its case is that it owns significant stakes in four other listed companies - 45.3% of Metrocoal, 29.9% of Cape Alumina, 76.2% of Planet Metals and 14.9% of Orion Metals.

Collectively, those four equity investments (at current stock market prices) are worth $53.1 million. Then comes Metallica's $4.1 million in cash to produce a global value of shares and cash at $57.2 million, divided by the 117.3 million shares on issue to imply a cash and investments backing per Metallica share of around 48c - 20c more than the current share price.

There are reasons for Metallica being discounted, the most important being that investors generally dislike listed equity investors and, in the case of mining stocks, the dislike turns to distrust about real values, especially in boom-time conditions.

However, the Metallica discount is so heavy, and the market so disinterested in stock which can be bought for an alleged 59c in the $1 that Dryblower cast an eye across the rest of the small end of the mining market - to discover that Metallica is not alone.

Altona Mining, an emerging copper miner with assets in Finland and Australia, is trading at 35c, but on the day before Metallica's lament Altona was valued at 81c by Foster Stockbroking.

Foster is Altona's tame stockbroker, having helped raise capital for its client in February, but if it has got the numbers right you can buy Altona for 43c in the $1.

Integra Mining is another case story. In February, the broking firm RBS Morgans valued the stock at 83c. Integra today is trading at 48.5c - or 58c in the $1.

A fourth example, Doray Minerals, has the best value gap, or is the worst instance of a broker over-promoting a stock (depending on your point of view). According to an Argonaut Securities report dated April 15, Doray is worth $2.18 though its current market price is 94.5c - or 43c in the $1.

There are reasons for those significant, alleged, value gaps, such as:

- Investors not often believing the spruiking by stockbrokers who, after all, can only make a living by selling someone a parcel of second-hand shares.

- Company management believing that investors do not appreciate the underlying value in the business they run.

- Too many companies and not enough investors.

What's happening is that with the mining company float game running hot (22 more on the ASX launch pad) there is too much choice among small exploration and mining companies.

In fact, sometime over the next week or so, the number of Australian companies in the ASX rises back above the 2000 mark for the first time since December 2008.

At last count, there were 1997 Australian stocks on the ASX, up from a low of 1952 reached in March last year and on the way to overtaking the record of 2016 set in July 2008.

A crowded house is not the only reason for stocks being as heavily discounted as Metallica and the other examples mentioned, but it is a factor, and one which means finding value in the mining market will become harder rather than easier.

shasta
02-05-2011, 12:55 AM
Steve

What the market seems to be missing with MLM in particular is that it isnt just an LIC sucking out fees for the top brass, they have some interesting projects in there own right ie Nornico, a large Nickel, Cobalt, Scandium project.

MLM's current value basically = MTE shareholding, the $4m cash, the remaining $20m of listed investments & unlisted assets are FREE!.

MLM @ 27c = MCap ~$31m

Cash @ 31/3 = $4m

Listed Investments (all ASX):

MTE = $31m (Coal)
CBX = $13m (Bauxite)
PMQ = $4m (Copper/Gold, Tungsten)
ORM = 3m (REE, Gold)

NTA = 48c

Discount to NTA = 43%

shasta
08-05-2011, 11:12 AM
Steve

What the market seems to be missing with MLM in particular is that it isnt just an LIC sucking out fees for the top brass, they have some interesting projects in there own right ie Nornico, a large Nickel, Cobalt, Scandium project.

MLM's current value basically = MTE shareholding, the $4m cash, the remaining $20m of listed investments & unlisted assets are FREE!.

MLM @ 27c = MCap ~$31m

Cash @ 31/3 = $4m

Listed Investments (all ASX):

MTE = $31m (Coal)
CBX = $13m (Bauxite)
PMQ = $4m (Copper/Gold, Tungsten)
ORM = 3m (REE, Gold)

NTA = 48c

Discount to NTA = 43%

No material change in the NTA this week

FarmerGeorge
08-05-2011, 03:45 PM
Can anyone find a broker willing to lend MTE, CBA, PMQ or ORM to short? If you could short these and buy our friend MLM this would be sweet little play...

shasta
10-05-2011, 11:53 PM
CBX - Presentaton/Run down

http://stocknessmonster.com/news-item?S=CBX&E=ASX&N=231825

The MLM distribution will hopefully boost the liquidity

shasta
12-05-2011, 08:31 PM
MLM - Presentation

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=231892

Nice to see they are trying to promote the Nornico project, ok Scandium isnt exactly a well known base metal, but 400kt/Ni & 42kt/Co is a decent size project !

Negative EV & with 100% owned projects with near term production potential, are why i really like the MLM story ;)

NoVice
13-05-2011, 09:01 AM
MLM - Presentation

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=231892

Nice to see they are trying to promote the Nornico project, ok Scandium isnt exactly a well known base metal, but 400kt/Ni & 42kt/Co is a decent size project !

Negative EV & with 100% owned projects with near term production potential, are why i really like the MLM story ;)


Thanks for that Shasta. Scandium is hardly a base metal - it is rarer than the REEs. I have taken a punt on JRV purely due to their Scandium & I'll probably take a stake in MLM as well once I sell some shares.

shasta
17-05-2011, 05:21 PM
MLM - Ann re CBX for you bauxite fans out there

http://stocknessmonster.com/news-item?S=CBX&E=ASX&N=231981

Not only will buying MLM entitle you to free CBX shares, they are giving CBX shareholders preferential treatment for the capital raising

percy
17-05-2011, 06:03 PM
shasta,thanks for the update,as I missed the announcement.Bit like Suzanne Paul;"but wait there's more."!!!!!

shasta
22-05-2011, 01:17 AM
shasta,thanks for the update,as I missed the announcement.Bit like Suzanne Paul;"but wait there's more."!!!!!

MLM - NTA Update

MLM @ $0.315 = MCap $36.8m

Cash est @ $4m

Listed Investments:

MTE @ 49c = $39.2m
CBX @ 30.5c = $11.8m
PMQ @ 11c = $5.0m
ORM @ 22c = $2.6m

Total LI = $58.6m

NTA = 54c (largely due to MTE's run 41 - 49c this week)

Discount to NTA = 41%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

shasta
23-05-2011, 09:04 PM
I see MLM has provided an update today, but has taken into a/c the CBX distribution, whereas i havent as yet

I will make the adjustment in this Fridays update

percy
24-05-2011, 01:42 PM
I received my CBX shares today.

shasta
28-05-2011, 10:12 PM
MLM - NTA Update as 27/5/11

MLM @ $0.315 = MCap $36.8m

Cash est @ $4m

Listed Investments:

MTE @ 50.5c = $40.4m (Coal)
CBX @ 30c = $8.1m (Bauxite, MLM holding drops to 20.8% or ~27m shares)
PMQ @ 10c = $4.5m (Copper/Gold)
ORM @ 23c = $2.7m (REE's, & Gold)

Total LI = $55.7m

NTA = 51c (largely due to the CBX in specie distribution to MLM shareholders)

Discount to NTA = 38%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

lawrence
28-05-2011, 10:58 PM
I received my CBX shares today.

So what is the cost base for these shares for tax purpose?

shasta
03-06-2011, 09:16 PM
MLM - EXCELLENT METAL EXTRACTION RESULTS FOR NORNICO TRI-METAL PROJECT

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=232439

I'll update the NTA,over the weekend, but given MLM's listed investments already exceed its market cap, the markt attributes a NEGATIVE value to this project!

Nornico is MLM's flagship project covering Nickel, cobalt & Scandium

lawrence
04-06-2011, 12:28 AM
MLM holding in MTE would be almost approx. $50M and MLM sp is following MTE going UP!

shasta
04-06-2011, 12:36 AM
MLM holding in MTE would be almost approx. $50M and MLM sp is following MTE going UP!

I'll post the cost basis for the CBX distribution when i update the NTA, over the weekend

shasta
05-06-2011, 12:18 AM
Lawrence

Tax consequences

The Company believes the distribution will constitute a disposal of the Cape In-specie Shares
and will result in a capital gain to the Company. However, the Company has carried forward
taxation losses in excess of the likely capital gain, and hence no taxation liability should arise
to the Company.

The Company believes the taxation implications to Shareholders will be a reduction in the cost
base of their Shares in the Company equal to the value of the Cape In-specie Shares
distributed to them. Should the value of the Cape In-specie Shares distributed exceed this
cost base, then an assessable capital gain may result-based on the number of Cape In-specie
Shares being distributed and the value at which Shares have traded since listing on ASX, the
Company believes this is unlikely to be the case. Shareholders should consult their own
professional advisors to confirm these implications as they may vary depending on individual
circumstances and taxation positions

The Company has not sought any class ruling from the ATO as to the tax implications of the
return of capital to Shareholders. For specific taxation advice, Shareholders should consult
their own taxation adviser so that their particular circumstances are taken into consideration.

shasta
05-06-2011, 12:51 AM
MLM - NTA Update as 3/6/11

MLM @ $0.37 = MCap $43.3m

Cash est @ $4m

Listed Investments:

MTE @ 63c = $50.4m (Coal)
CBX @ 24c = $6.4m (Bauxite, adjusted for MLM distribution)
PMQ @ 9.5c = $4.3m (Copper/Gold)
ORM @ 23c = $2.7m (REE's, & Gold)

Total LI = $63.9m

NTA = 58c (largely due to MTE rising from 50.5c to 63c)

Discount to NTA = 36%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

lawrence
05-06-2011, 08:54 PM
Lawrence





Shares being distributed and the value at which Shares have traded since listing on ASX

That I think is 32 cents as listed on the 11th May,thanks shasta

shasta
10-06-2011, 07:58 PM
MLM - 1:10 fully renouncable rights issue to raise $4.9m

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=232603

Looks a good deal to fund the ongoing development of Nornico & another Mineral Sand project, & the 2 PMQ (Copper/Gold) shares further shows MLM are trying to enhance shareholder value & free up more liquidity with PMQ.

PMQ recently sold a Tugsten project for $3.5m cash & $3.5m Rothchild shares, so PMQ is effectvely a negative EV company!

shasta
11-06-2011, 11:22 PM
MLM - NTA Update as 10/6/11

MLM @ $0.345 = MCap $40.4m

Cash est @ $4m

Listed Investments:

MTE @ 59.5c = $47.6m (Coal)
CBX @ 23c = $6.2m (Bauxite)
PMQ @ 9.5c = $4.3m (Copper/Gold)
ORM @ 20c = $2.3m (REE's, & Gold)

Total LI = $60.4m

NTA = 55c

Discount to NTA = ~37%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

Huang Chung
12-06-2011, 06:33 PM
Shasta, I realise it's fully underwritten, but what percentage take up from MLM shareholders do you expect for the rights issue?

shasta
12-06-2011, 06:55 PM
Shasta, I realise it's fully underwritten, but what percentage take up from MLM shareholders do you expect for the rights issue?

Just guessing but maybe something around 70%?

MLM have around $4m cash, so im interested to see whats left in the quarterly report.

For new shareholders the PMQ shares may be a nice bonus for there Copper/Gold project, PMQ is cashed up after selling the Wolfgram Tungsten project for $7m

shasta
15-06-2011, 04:19 PM
CBX - Exploration program at Bauxite Hills

http://stocknessmonster.com/news-item?S=CBX&E=ASX&N=232655

For those interested in Bauxite (another Negatve EV stock HRS, has a big chunk of bauxite company ABZ)

shasta
18-06-2011, 04:43 PM
MLM - NTA Update as 17/6/11

MLM @ $0.345 = MCap $40.4m

Cash est @ $4m

Listed Investments:

MTE @ 59.5c = $47.6m (Coal)
CBX @ 22c = $5.9m (Bauxite)
PMQ @ 10c = $4.6m (Copper/Gold)
ORM @ 20c = $2.3m (REE's, & Gold)

Total LI = $60.4m

NTA = 55c

Discount to NTA = ~37%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

No material movement in the NTA figures this week!

shasta
22-06-2011, 04:28 PM
MLM - Presentation @ Rare Earth Conference (re Scandium)

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=232821

An excellent overview of the MLM flagship Nornico project, the Scandium alone is worth $4.5b, & theres 400kt Ni & 42kt Co to add to it!

Explains Scandium's qualities & what it used for etc

Up until this ann, most of the MLM focus was on its coal spin off MTE

shasta
25-06-2011, 06:47 PM
MLM - NTA Update as 24/6/11

MLM @ $0.335 = MCap $39.2m

Cash est @ $4m

Listed Investments:

MTE @ 53.5c = $42.8m (Coal)
CBX @ 23.5c = $6.3m (Bauxite)
PMQ @ 10c = $4.6m (Copper/Gold)
ORM @ 18c = $2.1m (REE's, & Gold)

Total LI = $55.8m

NTA = 51c

Discount to NTA = ~35%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

Must say im surprised the Nornico presentation hasn't created any more interest in MLM, they have stated the IGV of the Scandium alone (even ignoring the large Nickel & Cobalt resource)

shasta
02-07-2011, 05:29 PM
MLM - NTA Update as 1/7/11

MLM @ $0.325 = MCap $38.0m

Cash est @ $4m

Listed Investments:

MTE @ 58c = $46.4m (Coal)
CBX @ 20c = $5.4m (Bauxite)
PMQ @ 9.2c = $4.2m (Copper/Gold)
ORM @ 18c = $2.1m (REE's, & Gold)

Total LI = $58.1m

NTA = 53c

Discount to NTA = ~39%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

Huang Chung
07-07-2011, 07:13 PM
Grabbed a few today at 40c to compliment my MTE holding.

shasta
07-07-2011, 07:22 PM
Grabbed a few today at 40c to compliment my MTE holding.

I'll update the MLM NTA tonight, given the MTE movement - so people can weigh up whch to buy tomorrow ;)

MLM - NTA Update as 7/7/11

MLM @ $0.41 = MCap $48.0m

Cash est @ $4m (ignoring the recently announced capital raising as shares not listed yet)

Listed Investments:

MTE @ 69c = $55.2m (Coal)
CBX @ 21.5c = $5.7m (Bauxite)
PMQ @ 9.9c = $4.5m (Copper/Gold) - no adjustment made yet for the MLM in specie distribution)
ORM @ 16.5c = $2.0m (REE's, & Gold)

Total LI = $67.4m

NTA = 61c

Discount to NTA = ~33%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

shasta
12-07-2011, 09:59 PM
MLM - NTA Update as 12/7/11

MLM @ $0.42 = MCap $49.1m

Cash @ $4.1m

Listed Investments:

MTE @ 79c = $63.2m (Coal)
CBX @ 22c = $5.9m (Bauxite)
PMQ @ 9.7c = $4.4m (Copper/Gold)
ORM @ 20c = $2.4m (REE's, & Gold)

Total LI = $75.9m

NTA = 68c

Discount to NTA = ~38%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

Huang Chung
12-07-2011, 10:18 PM
MLM - NTA Update as 12/7/11

MLM @ $0.42 = MCap $49.1m

Cash @ $4.1m

Listed Investments:

MTE @ 79c = $63.2m (Coal)
CBX @ 22c = $5.9m (Bauxite)
PMQ @ 9.7c = $4.4m (Copper/Gold)
ORM @ 20c = $2.4m (REE's, & Gold)

Total LI = $75.9m

NTA = 68c

Discount to NTA = ~38%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

Market cap doesn't even account for their MTE holding...let alone their other listed investments....let alone their cash...let alone their in house projects. For how long does this level of irrationality persist?

shasta
12-07-2011, 10:43 PM
Market cap doesn't even account for their MTE holding...let alone their other listed investments....let alone their cash...let alone their in house projects. For how long does this level of irrationality persist?

Reminds me of SEC's old chest nut SRL - the coal investment was nearly twice there market cap, the discount eventually narrowed, but only after Mgmt restructured the coal investment separate from the other non coal projects.

The way i see MLM can unlock value & narrow the discount to NTA, is to spin out the "Nornico" project via IPO, or secure a JV partner.

Clearly it seems the market does not understand Scandium, given the relatively few companies involved with it, i mean the Scandium is worth $4.5b IGV alone, & thats without factoring the 400,000t of Nickel + Cobalt credits!!!

MLM also have a limestone project & some other bits & pieces, & if you participated in the recent capital raising (i suspect u may have missed the cutoff HC) MLM is distributing PMQ shares as part of it, as they did with CBX to try & boost liquidity.

My thoughts are that they will either sell/distribute the CBX, PMQ, & ORM holdings, & will crystalise there investment in MTE, when they see what the current offer is worth, to focus on Nornico.

Whatever proceeds they might obtain would be used to develope Nornico, to a stage where they can attract a JV partner to bring it into production, or be able to list it as a separate entity.

These are only my thoughts, but until they do something like that the market will keep viewing them as just an LIC!

Huang Chung
13-07-2011, 07:17 AM
My guess is that they will either sell their MTE holding into a takeover of that company, or eventually sell their stake to a new "cornerstone" investor, or even on market. I reckon they'll use the proceeds to develop their scandium/nickel/cobalt project.

lawrence
13-07-2011, 12:53 PM
Investment update is out

http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=MLM&timeframe=D&period=T

Huang Chung
13-07-2011, 08:16 PM
Investment update is out

http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=MLM&timeframe=D&period=T

Shasta...looks like they've followed your lead :t_up:.

Well done.

shasta
13-07-2011, 10:21 PM
Shasta...looks like they've followed your lead :t_up:.

Well done.

I might have to start tagging my posts as "price sensitive" & make ya all wait 20 mins, as per ASX rules :D

Huang Chung
14-07-2011, 07:46 PM
EXCELLENT presentation at the Noosa Mining Conference :cool:.

http://www.stocknessmonster.com/news-item?S=MLM&E=ASX&N=233350

shasta
17-07-2011, 05:56 PM
MLM - NTA Update as 15/7/11

MLM @ $0.47 = MCap $55.0m

Cash @ $4.1m

Listed Investments:

MTE @ 80c = $64.0m (Coal)
CBX @ 22c = $5.9m (Bauxite)
PMQ @ 9.5c = $4.3m (Copper/Gold)
ORM @ 20c = $2.4m (REE's, & Gold)

Total LI = $76.6m

NTA = 69c

Discount to NTA = ~32%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

duncanjones
26-07-2011, 01:42 PM
MLM - Metallica Minerals Limited
"A Queensland multi-commodity resource development company, with direct major interests in nickel-cobalt, scandium, zircon-rutile and limestone, plus strategic investments in coal, bauxite, tungsten, copper, gold and rare earth elements."

Its not often you can buy shares for cheaper than what it is worth (current assets) but you are lucky and have that chance right now. MLM is currently has a current asset value (cash and listed companies only) with a 51.25% premium to its current share price. One of the companies holdings alone in MTE is worth more than its entire market cap. MLM also have their own projects on the way so you get these for absolutely no valuation in the current share price.

Shares On Issue: 128,777,710
Options Outstanding: 6,000,000
Market Cap At 48c: $64,693,300
Top 20 Own: 55.19%

Listed Shares:
80,000,000 MTE @ 93.5c = $74,800,000
26,867,621 CBX @ 25c = $6,716,905
22,069,619 PMQ @ 9.3c = $2,052,475
11,866,658 ORM @ 19c = $2,254,665
Total Listed Shares = $85,824,045

Cash In Bank (19/07/2011): $7,700,000

Current Assets = $93,524,045
Number Of Shares = 128,777,710
Assets Per Share = 72.6c (51.25% higher than current price)

Other Projects/Assets:
* Nornico "Tri-Metal" Project - Nickel, Cobalt & Scandium
* Lucky Break (50% JV) - Nickel
* Weipa Zircon-Rutile HMS Project - Zircon & Rutile
* Limestone Projects - 7 high quality projects.

Links:
* Investor Presentation (Noosa Mining Conference) (http://www.asx.com.au/asxpdf/20110714/pdf/41zry82j6881y4.pdf)
* Quarterly Detailing Projects (http://www.asx.com.au/asxpdf/20110429/pdf/41ybjzlnt6r9nv.pdf)
* 20th July Investments Update (http://www.asx.com.au/asxpdf/20110720/pdf/41zvxb604lyj8y.pdf)
* Top 20 Report (last page) (http://www.asx.com.au/asxpdf/20110718/pdf/41ztndvr9wdnms.pdf)

lawrence
26-07-2011, 03:17 PM
Wasn't always like this,I got on at the IPO and I rate it as my worst stock I held funny thing I left then in the bottom draw for so long I almost forgotten about them even rang Andrew Gillies he said he couldn't get brokers to spread the word seeing 1M + volume is fantastic to the past 2000 odd

Huang Chung
18-08-2011, 07:16 PM
The rise on MTE yesterday and today (post announcement on participation in a new port project) prompted me to swap out of MTE and buy more MLM (was roughly half and half before).

Considering MTE has now pulled back, it seems as if it was a reasonable move.

shasta
18-08-2011, 07:21 PM
The rise on MTE yesterday and today (post announcement on participation in a new port project) prompted me to swap out of MTE and buy more MLM (was roughly half and half before).

Considering MTE has now pulled back, it seems as if it was a reasonable move.

Oops i over looked the NTA update during the weekend, will update tomorrow after market close

Huang Chung
18-08-2011, 07:48 PM
Thanks Shas.

shasta
19-08-2011, 09:24 PM
MLM - NTA Update as 19/8/11

MLM @ $0.36 = MCap $47.0m

Cash @ $7.5m

Listed Investments:

MTE @ 73.5c = $58.8m (Coal)
CBX @ 18c = $4.8m (Bauxite)
PMQ @ 8.1c = $1.8m (Copper/Gold)
ORM @ 15.5c = $1.8m (REE's, & Gold)

Total LI = $67.2m

NTA = 57c

Discount to NTA = ~37%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

percy
19-08-2011, 09:26 PM
Shasta,
thanks for the update.

Huang Chung
26-08-2011, 11:46 AM
MLM - NTA Update as 19/8/11

MLM @ $0.36 = MCap $47.0m

Cash @ $7.5m

Listed Investments:

MTE @ 73.5c = $58.8m (Coal)
CBX @ 18c = $4.8m (Bauxite)
PMQ @ 8.1c = $1.8m (Copper/Gold)
ORM @ 15.5c = $1.8m (REE's, & Gold)

Total LI = $67.2m

NTA = 57c

Discount to NTA = ~37%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized, Nickel, Cobalt & Scandium "Nornico" project

Well, you can now add another project they've optioned in on, and acquired off Rio Tinto no less! With a 37% discount to NTA, this one is a complete freebee.

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=234573

shasta
26-08-2011, 12:14 PM
Well, you can now add another project they've optioned in on, and acquired off Rio Tinto no less! With a 37% discount to NTA, this one is a complete freebee.

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=234573

Yeah, another 100% owned project to add to the pile, will update the NTA after market close tonight ;)

drillfix
26-08-2011, 12:17 PM
Interesting stuff, although this seems quite strange, add another project or value to a company and the sp falls.

Huang Chung
26-08-2011, 02:20 PM
Interesting stuff, although this seems quite strange, add another project or value to a company and the sp falls.

It's a crazy situation Drilly. Even a shell company with no projects is worth a couple of mil. Strip out just PART of MLM's holdings in MTE, and everything else has a negative value (including the balance of the MTE holding)!!

drillfix
26-08-2011, 04:40 PM
It's a crazy situation Drilly. Even a shell company with no projects is worth a couple of mil. Strip out just PART of MLM's holdings in MTE, and everything else has a negative value (including the balance of the MTE holding)!!

HC this is just a classic example of today's world we live in.

Even to the point where no money is Mega Bucks, too much cash is a problem, lots of debt is handy, Woman want to be men, men want to be woman and on goes the merry-go-round=madness.

shasta
26-08-2011, 09:20 PM
It's a crazy situation Drilly. Even a shell company with no projects is worth a couple of mil. Strip out just PART of MLM's holdings in MTE, and everything else has a negative value (including the balance of the MTE holding)!!

With the coal the main asset, deja vu over SRL again?

How long did i update that NTA when under $1, eventually doubled & then some!

Update coming

shasta
26-08-2011, 09:55 PM
MLM - NTA Update as 26/8/11

MLM @ $0.35 = MCap $46.3m

Cash @ $7.5m

Listed Investments:

MTE @ 75.5c = $60.4m (Coal)
CBX @ 18.5c = $5.0m (Bauxite)
PMQ @ 8.2c = $1.8m (Copper/Gold)
ORM @ 15.5c = $1.8m (REE's, & Gold)

Total LI = $69.0m

NTA = 58c

Discount to NTA = ~40%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - see ann today (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

shasta
04-09-2011, 02:07 AM
MLM - NTA Update as 2/9/11

MLM @ $0.365 = MCap $48.3m

Cash @ $7.5m

Listed Investments:

MTE @ 82c = $65.6m (Coal)
CBX @ 19.5c = $5.2m (Bauxite)
PMQ @ 8.4c = $1.9m (Copper/Gold)
ORM @ 17c = $2.0m (REE's, & Gold)

Total LI = $74.7m

NTA = 62c

Discount to NTA = ~41%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

shasta
04-09-2011, 02:14 AM
MLM - NTA Update as 2/9/11

MLM @ $0.365 = MCap $48.3m

Cash @ $7.5m

Listed Investments:

MTE @ 82c = $65.6m (Coal)
CBX @ 19.5c = $5.2m (Bauxite)
PMQ @ 8.4c = $1.9m (Copper/Gold)
ORM @ 17c = $2.0m (REE's, & Gold)

Total LI = $74.7m

NTA = 62c

Discount to NTA = ~41%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

Huang Chung
08-09-2011, 02:39 PM
Have a read of this!

http://www.google.com.au/url?q=http://www.smh.com.au/business/metallica-ups-mineral-sands-exposure-20110907-1jwjh.html&sa=U&ei=izdoTq_SOeqcmQXzg4C4DA&ved=0CBkQqQIwAA&usg=AFQjCNGFNsSxVc-yDJlSsYadmBca9sqnaQ

Metallica's in house projects and $7.5m cash still have negative value (lol) according to the market, as it's shareprice still doesn't reflect the value of it's listed investments.

Huang Chung
08-09-2011, 06:40 PM
Make of it what you will, but the RB Milestone Research Report released on the MLM website today gives a valuation for MLM of $1.86.

drillfix
08-09-2011, 08:39 PM
That is a pretty up there valuation from where the current sp is HC.

I guess in a normal upward directional market that would sound up there and quite a good target, although in these markets everything is not quite rational as you know or can see by many stocks sitting at whatever level the market will pay.

Missed the boat when I saw MLM sitting at 35c where I nearly clicked the buy button but as usual, got distracted so I dont really like talking about the one I was gonna buy..lol

You holding a few of these and what approx entry?

shasta
08-09-2011, 08:58 PM
Make of it what you will, but the RB Milestone Research Report released on the MLM website today gives a valuation for MLM of $1.86.

I suspect without even looking at it, the value is in Nornico which ive been bleating about for ages, yet the market doesnt even value MLM at its listed investments!

Shades of SRL all over again, eventually the share price doubled & narrowed the discount to NTA.

Ill update the NTA after close of play tomorrow night ;)

percy
08-09-2011, 09:00 PM
Make of it what you will, but the RB Milestone Research Report released on the MLM website today gives a valuation for MLM of $1.86.

Report appears to be very comprehensive to me.
Drillfix. 10,000 at 33cents 15/11/2010

drillfix
08-09-2011, 09:07 PM
Report appears to be very comprehensive to me.
Drillfix. 10,000 at 33cents 15/11/2010

Nice entry there Percy, good stuff~!

shasta
11-09-2011, 04:54 PM
MLM - NTA Update as 9/9/11

MLM @ $0.42 = MCap $55.5m

Cash @ $7.5m

Listed Investments:

MTE @ 82.5c = $66.0m (Coal)
CBX @ 19c = $5.1m (Bauxite)
PMQ @ 8.5c = $1.9m (Copper/Gold)
ORM @ 15c = $1.8m (REE's, & Gold)

Total LI = $74.8m

NTA = 62c

Discount to NTA = ~32%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

shasta
19-09-2011, 11:16 PM
MLM - NTA Update as 19/9/11

MLM @ $0.38 = MCap $50.3m

Cash @ $7.5m

Listed Investments:

MTE @ 71c = $56.8m (Coal)
CBX @ 20c = $5.4m (Bauxite)
PMQ @ 8.4c = $1.8m (Copper/Gold)
ORM @ 14c = $1.7m (REE's, & Gold)

Total LI = $65.7m

NTA = 55c (previous week 62c)

Discount to NTA = ~31%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

Dworsf01
26-09-2011, 04:55 PM
Even cheaper now. I've been buying, although suspect I'm the only one :)

What's your take on the current SP, shasta? I realise that the value of the company's listed investments has also suffered in recent days...

shasta
26-09-2011, 08:37 PM
MLM - NTA Update as 23/9/11 (Nb, share price as per close of market Friday!)

MLM @ $0.34 = MCap $45.0m

Cash @ $7.5m

Listed Investments:

MTE @ 60c = $48.0m (Coal)
CBX @ 16c = $4.3m (Bauxite)
PMQ @ 8.2c = $1.8m (Copper/Gold)
ORM @ 10.5c = $1.2m (REE's, & Gold)

Total LI = $55.3m

NTA = 48c (previous week 55c)

Discount to NTA = ~28%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

shasta
01-10-2011, 08:49 PM
MLM - NTA Update as 30/9/11 (Nb, share price as per close of market Friday!)

MLM @ $0.29 = MCap $38.4m

Cash @ $7.5m

Listed Investments:

MTE @ 59.5c = $47.6m (Coal)
CBX @ 15c = $4.0m (Bauxite)
PMQ @ 8c = $1.8m (Copper/Gold)
ORM @ 10c = $1.2m (REE's, & Gold)

Total LI = $54.6m

NTA = 47c (previous week 48c)

Discount to NTA = ~38%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

shasta
08-10-2011, 10:50 PM
MLM - NTA Update as 7/10/11 (Nb, share price as per close of market Friday!)

MLM @ $0.305 = MCap $40.3m

Cash - est @ $6m

Listed Investments:

MTE @ 66.5c = $53.2m (Coal)
CBX @ 22c = $5.9m (Bauxite)
PMQ @ 8.3c = $1.8m (Copper/Gold)
ORM @ 11c = $1.3m (REE's, & Gold)

Total LI = $62.2m

NTA = 52c (previous week 47c)

Discount to NTA = ~41%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

Huang Chung
27-10-2011, 08:44 PM
A couple of updates.

Finance News Network interview with CFO and Director John Haley:

http://www.google.com.au/url?q=http://www.finnewsnetwork.com.au/archives/finance_news_network18935.html&sa=U&ei=GhipTr2cE8L-mAXn4c2mDw&ved=0CB0QqQIwAQ&usg=AFQjCNEm0kCQgKLyNC-_AZDBPSkcP0wzSw


Queensland Explorer of the Year awarded to Metallica last night:

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=236602


Mining 2011 presentation:

http://stocknessmonster.com/news-item?S=MLM&E=ASX&N=236596

shasta
12-02-2012, 11:59 PM
MLM - NTA Update as 10/02/12

MLM @ $0.31 = MCap $41m

Cash @ 31/1 = $12m (Cash boosted by the sale of approx 15m shares in MTE)

Listed Investments:

MTE @ 51c = $32.8m (Coal)
CBX @ 12c = $3.2m (Bauxite)
PMQ @ 7.6c = $1.7m (Copper/Gold)
ORM @ 5.1c = $0.6m (REE's, & Gold)

Total LI = $38.3m

NTA = 38c (previously 52c)

Discount to NTA = ~19%

No allowance made for the 100% owned MLM projects, including the very interesting & decent sized*, Nickel, Cobalt & Scandium "Nornico" project

* Nickel 400kt, Cobalt 42kt (90% measured & indicated)

Other 100% owned projects MLM owns that the market ascribes no value for:

1. Zircon, Rutile, HMS project purchased off RIO - (production forecast 2013!)
2. 2 x Limestone & Lime Projects in Qld
3. Ni/Co project JV with MFC

Note. MLM during the 2nd half of 2011 made in specie distributions of CBX & PMQ shares to increase liquidity.

percy
23-06-2021, 09:14 AM
Another dead duck coming back to life.Good fun as they all put in a new board, then have have a capital raise ,where you can back up the truck, as they let you apply for more than your entitlement..lol.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02386739-2A1304600?access_token=83ff96335c2d45a094df02a206a 39ff4

percy
23-06-2021, 09:29 AM
https://sendy.tarawera.co.nz/l/J6oLVth2f3f6IXNYvUBQEg/FPNUhTLkqHt892rEarr892GTLw/7RYbzNvCEq4eQ5kUW4RiNw

percy
05-09-2021, 09:33 AM
https://sendy.tarawera.co.nz/l/J6oLVth2f3f6IXNYvUBQEg/FPNUhTLkqHt892rEarr892GTLw/7RYbzNvCEq4eQ5kUW4RiNw

https://static1.squarespace.com/static/5f9ba10ed4cef64c563350ac/t/612c520e656dee1f45a3cb96/1630294551518/20210824+Webinar.pdf

percy
23-03-2022, 02:49 PM
https://stockhead.cmail19.com/t/d-l-fpijhk-yupddjlly-w/

mistymountain
23-03-2022, 07:59 PM
https://stockhead.cmail19.com/t/d-l-fpijhk-yupddjlly-w/

Thanks heaps for the reading. Listening to Sabbath might have to change to Metallica!! Bring on the rest of MLM's awesome Project. Cheers

percy
23-03-2022, 08:08 PM
Today's presentation is worth reading.
Silly me fogot Queensland does not have daylight saving.Tuned in at 6pm,and was busy at 7 pm so missed it live.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02502069-2A1364436?access_token=83ff96335c2d45a094df02a206a 39ff4

percy
20-05-2022, 03:20 PM
https://stockhead.cmail19.com/t/d-l-ftytiit-yupddjlly-jr/

percy
27-05-2022, 06:07 PM
https://stockhead.cmail20.com/t/d-l-ftdxil-yupddjlly-yk/

percy
20-09-2022, 09:32 AM
Sort of interesting.?

https://metallicaminerals.us20.list-manage.com/track/click?u=27ebba3aba527d30ae923152b&id=55cb93e19d&e=fed25909f3

percy
20-09-2022, 07:03 PM
I was a bit slow getting my buy order on today at 1.1 cent for the options.MLMOB that have the right to convert at 6 cents in March 2024 .
They closed at 1.7 cents. up 54.5% today..!!
https://metallicaminerals.us20.list-manage.com/track/click?u=27ebba3aba527d30ae923152b&id=180b452b1b&e=fed25909f3

Muse
20-09-2022, 09:52 PM
You moved the market percy! It's either a small stock or you are a big hitter

I know nothing about the company, but I love the band.

percy
21-09-2022, 08:00 AM
You moved the market percy! It's either a small stock or you are a big hitter

I know nothing about the company, but I love the band.

Haha.
Market cap is $30mil,so still a small company.
Announcements have caused the movement together with Morgan's research ,[my post #155.] Their target price is 15 cents,compared with the current share price of 4.5 cents.[333% of blue sky]
Well regarded Queensland family, The Flannery's have used "the creep rule" to increase their holding a further 3% to 26%.

mistymountain
23-09-2022, 08:41 PM
Haha.
Market cap is $30mil,so still a small company.
Announcements have caused the movement together with Morgan's research ,[my post #155.] Their target price is 15 cents,compared with the current share price of 4.5 cents.[333% of blue sky]
Well regarded Queensland family, The Flannery's have used "the creep rule" to increase their holding a further 3% to 26%.

Good to see some fellow South Island kiwis on board. Been invested since March 2022. Looking forward to the next 3 years for this Company. Great thesis and potentially positive growth story. Cheers

Aotea
24-09-2022, 05:42 AM
Good to see some fellow South Island kiwis on board. Been invested since March 2022. Looking forward to the next 3 years for this Company. Great thesis and potentially positive growth story. Cheers

You can add another to that list. I bought a small position before they won explorer of the year. After that it went downhill

percy
26-09-2022, 02:19 PM
I was a bit slow getting my buy order on today at 1.1 cent for the options.MLMOB that have the right to convert at 6 cents in March 2024 .
They closed at 1.7 cents. up 54.5% today..!!
https://metallicaminerals.us20.list-manage.com/track/click?u=27ebba3aba527d30ae923152b&id=180b452b1b&e=fed25909f3

Looks as though my order was filled at 1.1 cents today.