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  1. #11
    Advanced Member airedale's Avatar
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    A healthy looking chart. Sadly I am not on board. Perhaps when there is a pull back.

  2. #12
    percy
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    We are under way.
    Mining operations commenced on Friday 13th April.
    The first vessel has been booked to arrive on 19th April,to collect a cargo of around 60,000 tonnes of bauxite, bound for China.

  3. #13
    Legend shasta's Avatar
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    Quote Originally Posted by percy View Post
    We are under way.
    Mining operations commenced on Friday 13th April.
    The first vessel has been booked to arrive on 19th April,to collect a cargo of around 60,000 tonnes of bauxite, bound for China.
    https://stocknessmonster.com/announc...asx-2A1076430/

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

  4. #14
    percy
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    Good interview with MMI's MD Simon Finnis.
    Google ;Finance New Network Metro mining.

  5. #15
    percy
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    Well the share price has just kept falling.
    Yet they are doing what they say they will do.
    Have loaded for shipping what they wanted to do in their June quarter.
    I have now doubled my holding, buying at 9.9 cents today.

  6. #16
    Senior Member
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    Thanks for the tip on this one. I curious to know how people are valuing this company since it's transition from exploring to production.

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

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

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

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

  7. #17
    percy
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    I think you will find the answers in earlier MMI announcements.
    Reserve upgrade today means a further 3 years mine life to 2037.

  8. #18
    percy
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    Today's MD's presentation at Noosa Mining Conference gives details of costs and sales revenue,together with projections.
    An excellent presentation.

  9. #19
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    Thanks percy

  10. #20
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    Thoughts on the half-year report?

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