MFC Metals Finance Ltd

[mickey2]

MFC Metals Finance Ltd

I haven’t been able to find an existing thread on MFC. It seems to me to be a “sum of the parts” company a bit like DGR in some ways. I came across it when looking at BSM in which it is a major shareholder (about 14% from memory).

MFC is also working with PRW Proto Resources on a nickel and cobalt project at Barnes Hill Tasmania. It has just sold its stake in the Palabora nickel sulphate plant and seems OK for cash.

My FA skills are limited but it looked OK according to the candlesticks last week and I bought a few at 0.098.

Is anyone else holding or looking at FML or have any comments?

Regards
Mickey2

[shasta]

MFC Metals Finance Ltd

I haven’t been able to find an existing thread on MFC. It seems to me to be a “sum of the parts” company a bit like DGR in some ways. I came across it when looking at BSM in which it is a major shareholder (about 14% from memory).

MFC is also working with PRW Proto Resources on a nickel and cobalt project at Barnes Hill Tasmania. It has just sold its stake in the Palabora nickel sulphate plant and seems OK for cash.

My FA skills are limited but it looked OK according to the candlesticks last week and I bought a few at 0.098.

Is anyone else holding or looking at FML or have any comments?

Regards
Mickey2

MFC came up in my research of stocks with market caps < $20m - will do some more research on it & see what i come up with

[mickey2]

Cheers Shasta

Ooops! Got my MFC and FMLs in a twist in my last post – I picked up a few of both recently.
I meant MFC.

I should have mentioned that according to its last Annual Report, MFC is also in a JV with MLM at the Lucky Break Ni Co project and in a Cu Co extraction process with the (75% MFC) Chambishi tailings project in Zambia and in an iron pigment process (50% MFC) in South Africa.

It has since started a JV with BPL to look at extracting metals from tailings arounf Broken Hill.

The following is patched together from the last (2009) AR.

Metals Finance Limited has been formed for the specific purpose of providing a unique combination of finance and technical skills for the development of small to medium scale metal recovery projects around the globe.

From 1 September 2008 the Company re–located its office and operations of Metals Finance Limited from Vancouver, Canada to its current location at Yatala, Queensland. This re–location took place with the intention for all future transactions to be made in Australian Dollars as all operational and managerial decision making processes of the Company were carried out in Australia.

The Company’s primary targets are those opportunities which, even during an upturn in world metal markets, may be too small, complex or unusual to easily attract the funding and high level technical input required to ensure their successful development.

Metals Finance does not assume the classical resource risks inherent to mineral exploration and mine development. It rather focuses its activities on metal–bearing resources and materials which have already been identified and fully outlined/measured. Metals Finance is not a mining or exploration Company, rather it provides financial and production services to mining and metals companies.

The Company is currently pursuing a number of projects around the world. It is also seeking to expand its portfolio of development opportunities in areas such as:
• Medium sized, proven, high–grade primary resources
• Start up projects requiring demonstration of new technologies
• Mine waste dumps and tailings
• Smelter and solid industrial wastes
• Industrial waste materials and streams

There have been some major recent developments in metal processing
technology, which have resulted in:
• Increased efficiency in process application
• Modular construction of unit processes
• Reduction in unit capital and operating cost

We particularly seek associations where the opportunity has a high potential for viability but, without Metals Finance Limited, is unlikely to proceed to profitable development.
Access to development funding, application of key leading edge, metals recovery technologies and a highly skilled network of technical experts are all underlying factors in Metals Finance Limited’s
business strategy.

Regards
Mickey2

Disclosure bought some last week

[shasta]

MFC came up in my research of stocks with market caps < $20m - will do some more research on it & see what i come up with

MFC has now joined DGR & MLM in the ranks of the NEGATIVE EV list

MFC @ $0.13 has a MCap of $9.5m

Last Qtr Cash = $6.4m (MFC sold there interest in a Nickel Sulphide plant last quarter, netting just over $5m)

Listed Investments = $10.6m (26.4m shares in ASX: BSM)

EV = ($7.5m)

MFC along with RCO, arent your typical resource exploration companies, there project involvement differs from the norm, heres a run down on MFC projects (withthe likes of PRW & MLM)

http://www.metalsfinance.com/

[shasta]

MFC has now joined DGR & MLM in the ranks of the NEGATIVE EV list

MFC @ $0.13 has a MCap of $9.5m

Last Qtr Cash = $6.4m (MFC sold there interest in a Nickel Sulphide plant last quarter, netting just over $5m)

Listed Investments = $10.6m (26.4m shares in ASX: BSM)

EV = ($7.5m)

MFC along with RCO, arent your typical resource exploration companies, there project involvement differs from the norm, heres a run down on MFC projects (withthe likes of PRW & MLM)

http://www.metalsfinance.com/

MFC snuck up to 14.5c (+1.5c) today, so its M Cap @ $10.6m = there shareholding in BSM

You get the $6.4m cash & projects for free essentially :)

[shasta]

MFC - NTA Update

MFC @ $0.14 = MCap $10.2m

Cash 31/12 = $6.4m

Listed Investments: 26.4m BSM shares = $11.4m

Negative EV = $7.5m

NTA = 24c

Discount to NTA = 41.7%

[shasta]

MFC - NTA Update

MFC @ $0.12 = MCap $8.8m

Cash 31/12 = $5.0m

Listed Investments: 26.4m BSM shares = $9.5m

Negative EV = $5.7m

NTA = ~20c

Discount to NTA = ~40%

[shasta]

MFC @ $0.10 = MCap $7.3m

Cash 31/12 = $5.0m

Listed Investments: 26.4m BSM shares = $9.1m

Negative EV = $6.8m

NTA = ~19c

Discount to NTA = ~48%

[shasta]

MFC - NTA/EV update

MCap @ $0.10 = $7.3m

Est cash = $5m

BSM shares = $7.9m

Negative EV of ($5.6m)

NTA = ~17.5c

Discount to NTA = ~43%

[shasta]

MFC - NTA/EV update as at 27/5/11

MCap @ $0.11 = $8m

Est cash = $5m

BSM shares = ~$8m

Negative EV of ($5m) (Basically MFC's MCap = value of BSM shares, no value attributed to there $5m cash or projects!)

NTA = ~18c

Discount to NTA = ~39%

For more on the projects MFC are involved in, http://www.metalsfinance.com/

[shasta]

MFC - NTA/EV update as at 3/6/11

MCap @ $0.115 = $8.4m

Est cash = $5.0m

BSM shares = $7.5mm

Negative EV of ($4.1m)

NTA = ~17c

Discount to NTA = ~32%

[shasta]

MFC - CONDITIONAL SALE OF MF AFRICA

http://stocknessmonster.com/news-item?S=MFC&E=ASX&N=232966

MFC dropped from 11.5c to 10c today on small volume.

MFC has around $5m cash excluding the above ann, & there 26.4m shares in BSM are worth $5.7m, meaning MFC has a negative EV of $3.4m

[shasta]

MFC - NTA/EV update as at 8/7/11

MCap @ $0.094 = $6.9m

Cash @ 30/6 = $4.5m

BSM shares (26.4m @ $0.22) = $5.8m

Negative EV of ($3.4m)

NTA = ~14c

Discount to NTA = ~33%

[shasta]

MFC - NTA/EV update as at 15/7/11

MCap @ $0.085 = $6.2m

Cash @ 30/6 = $4.5m

BSM shares (26.4m @ $0.22) = $5.8m

Negative EV of ($4.1m)

NTA = ~14c

Discount to NTA = ~40%

[shasta]

MFC - NTA/EV update as at 5/8/11

MCap @ $0.071 = $5.2m

Cash @ 30/6 = $4.5m

BSM shares (26.4m @ $0.22) = $5.8m

Negative EV of ($5.1m)

NTA = ~14c

Discount to NTA = ~50%

[shasta]

MFC - NTA/EV update as at 19/8/11

MCap @ $0.084 = $6.1m

Cash @ 30/6 = $4.5m

BSM shares (26.4m @ $0.22) = $5.8m

Negative EV of ($4.2m)

NTA = ~14c

Discount to NTA = ~40%

[shasta]

MFC - NTA/EV update as at 26/8/11

MCap @ $0.075 = $5.5m

Cash @ 30/6 = $4.5m

BSM shares (26.4m @ $0.22) = $5.8m

Negative EV of ($4.8m)

NTA = ~14c

Discount to NTA = ~46%

[PLYNCH]

shasta any chance of a update or have you given up on MFC?

[Joshuatree]

BSM shares if they still hold now worth 0.007 c

[shasta]

shasta any chance of a update or have you given up on MFC?

Given up, havent been updating many of the negative EV stocks, BSM share price says it all really!