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  1. #31
    percy
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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....
    Last edited by percy; 20-12-2019 at 07:29 AM.

  2. #32
    Handsome Member
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    Jun 2015
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    Quote Originally Posted by percy View Post
    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.
    Last edited by LAC; 20-12-2019 at 08:14 AM.

  3. #33
    percy
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    christchurch
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    Quote Originally Posted by LAC View Post
    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.
    Last edited by percy; 20-12-2019 at 09:23 AM.

  4. #34
    Guru
    Join Date
    Dec 2010
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    near Mangonui Northland
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    4,079

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    only 30 + hours to get your 2020 picks in .... about ONE DAY
    Be aware of wizards, for they are subtle and quick to anger.
    that not forbidden is mandatory.
    Anyone but o'brien

  5. #35
    percy
    Join Date
    Oct 2009
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    christchurch
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  6. #36
    percy
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    ❑ 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..
    Last edited by percy; 06-09-2020 at 07:34 AM.

  7. #37
    Senior Member
    Join Date
    Jul 2015
    Location
    Auckland
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    956

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    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.

  8. #38
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    17,221

  9. #39
    Handsome Member
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    Jun 2015
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    759

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

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