Metro Mining refinances existing debt to secure $47.5 million loan from NAIF. Metro is on track to meet the upper end of its 2019 guidance of bauxite production and shipping from the Bauxite Hills Mine in Far North Queensland....
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Metro Mining refinances existing debt to secure $47.5 million loan from NAIF. Metro is on track to meet the upper end of its 2019 guidance of bauxite production and shipping from the Bauxite Hills Mine in Far North Queensland....
Mining sector seems to be doing well in Aus this year, took a small position in MSV and looking at add once some divies come through, did you get comms about the share consolidation 10:1 going forward?
Have not done much research on MMI, do you see a better business in MMI vs MSV? I will def do my own research but just looking for your opinion as I am new to this sector.
I hold both MSV which is a drilling contractor and MMI which is a straight bauxite miner.
Think both are excellent value.Yes I saw MSV share consolidation news.
I have a bit more in MMI.
Both give excellent presentations,and seem to do what they say they will do.
MSV still does a lot of coal drilling, which may put people investing in them.
Each is around half a % of my total portfolio..
I am a novice with Australian mining/services company.
I have doubled my holding in each this year,on positive annoucements.
only 30 + hours to get your 2020 picks in .... about ONE DAY
❑ Lower alumina price causing lower bauxite pricing
generally
❑ Market dislocation given very low freight rates
Guinea to China
❑ Customer uncertainty and caution
❑ Difficulty in securing additional sales contracts -
challenges remain
https://stocknessmonster.com/announc...asx-2A1242482/
Disc Sold on 8/4/2020 at 11 cents..
Thanks for the update. Glad you got out with a profit.
It's that last point that gave me concern, i was hoping to read something to the contrary here, but got what i expected. Fortunately i never ended up buying into mmi... it was always just above my desired entry price.
Very sad news for the people and company... all happened very fast.