# X64 - Ten Sixty Four



## crocdee (7 August 2004)

hi all
do some research on this stock read all the reports to date. they have bucket loads of gold and silver and should have the mine up and running near the end of the year. i am very bullish on this stock tis just going to take a little time.

regards croc


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## stefan (7 August 2004)

*Re: MML MEDUSA MINING*

Croc,

Considering this stock has been trading at 60cents a few months ago, what would you regard as  the main reason for the pull back? 

Happy trading

Stefan


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## crocdee (7 August 2004)

*Re: MML MEDUSA MINING*

only 10mil tradible stock, lack of market confidence in general, genuine well researched holders not wanting to sell, not enough stock available for institutions to get involved.
read the reports they are all good
ive been in since the float and will continue to hold and buy more at opportunity great leverage with the oppies

regards croc


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## stefan (7 August 2004)

*Re: MML MEDUSA MINING*

Croc,

I shall do some reading then...  

Happy trading

Stefan


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## crocdee (17 August 2004)

*Re: MML MEDUSA MINING*

hi stefan
i know its hard to follow and research alot of stocks that one might be alerted to.
just wondering if you have looked at mml yet.
this one will take a little time yet but the behind the scene things are happening.
still very happy with my position with this one.

regards croc


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## stefan (19 August 2004)

*Re: MML MEDUSA MINING*

Croc,

I have tried to evaluate this stock but I failed due to lack of data. After checking their latest news I came to the conclusion that I would have to understand a lot about gold mines and their potential capacity to evaluate this stock. I honestly don't know what to conclude out of this. They have a lot of things in the pipeline and you seem to consider it worthwhile holding. I wouldn't know how to judge it as I can't figure out what the total value of their potential projects is. It looks to me like a stock similar to MUL. Lots of potential but nothing big happening yet. I for one have enough MUL and wouldn't invest into another one. 

So maybe you can give me some more details as you have obviously been looking at it much longer than I have. 

Happy trading

Stefan


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## crocdee (20 August 2004)

*Re: MML MEDUSA MINING*

hi stefan and all who are interested

i refer you back to my first post.
frankly i dont care whether any of you invest in mml or not. to me this site is about being alerted to good companies that have excellent potential of making money. all the asx reports are there for all to read. i am however privy to a little more background music ( like TG with mul) the source is respected as you might all well agree. it will not happen over night, the company has only been listed for 8 months but they will be mining gold within the next 6 months or pehaps sooner who knows.

i did not initiate the first post to ramp mml there is simply not enough trading stock available to the market to do so. i posted in good faith to alert all to a company that has alot of potential to make money.

the choice here is yours folks. IM IN. got in on the float @ 20c picked up the oppies 1:2 @ 1c and made a further investment @ 40c. now i wait with confidence.

you blokes can take it from here if you wish and as TG says EOM

regards croc


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## stefan (20 August 2004)

*Re: MML MEDUSA MINING*



> i am however privy to a little more background music ( like TG with mul) the source is respected as you might all well agree.



No offence, but I don't respect these sources at all. For now I for one have not seen anything "new" posted regarding MUL other than the usual "news about to be released according to my tea leaves" I've seen many times before. I can keep posting that myself and one day I'll be right. Seems a bit far fetched to call that "a little more background music" as you nicely put it. 

I do agree with you that others may come up with interesting knowledge about a stock and I don't deny that there are some excellent picks to be found. 
I just want to make it clear that boards like these where stocks are discussed, are an easy target to post for the sake of it. We've already seen this happening here.



> i did not initiate the first post to ramp mml there is simply not enough trading stock available to the market to do so. i posted in good faith to alert all to a company that has alot of potential to make money.



 I would  never have thought that you had bad intentions. I agree with what you're saying here.



> you blokes can take it from here if you wish and as TG says EOM



Well, you asked for my oppinion and I said that I can't give you one because I don't know enough about it. Any other answer would have been pure speculation. That doesn't mean that MML is crap or whatever. It just means that I don't have the meassures to value it. 

Happy trading

Stefan


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## crocdee (27 October 2004)

*Re: MML MEDUSA MINING*

hi all 
MML have made a number of very positive announcements since i alerted this forum to the stock. imo this company has a big future for a long term hold.
i'm not here to ramp any stock but companies like this don't come a long to often. if you are interested read the reports it's all there the storey is unfolding very nicely.
regards croc


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## stefan (27 October 2004)

*Re: MML MEDUSA MINING*

Oh I see... Sorry I didn't get it when you asked me about this stock in the MUL thread. It's been a while since we talked about it. 

It's come along nicely since you mentioned it the first time! Great call!

Now that it is almost back where it was before the fall, what's your oppinion about it? Does it have the potential to break out to higher levels? 

Happy trading

Stefan


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## crocdee (27 October 2004)

*Re: MML MEDUSA MINING*

stefan
mml are working fast on moving into gold production all infrastructure is in place. i believe sp will be well above $1 early next year but you guys need to need to do the f/as to convince yourselves about the company just the same way you did with mul. the gold price is rising and so is mml.

regards croc


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## crocdee (24 December 2004)

*Re: MML MEDUSA MINING*

hi all 
first brought MML TO THE ATTENTION of the board 7-08-04 @ 33c now sp 70c and heading north at a great rate of knots for 2005. can't believe noone has bothered to take note over the short period of time that i have continued to bring this stock to your attention. i am not in to ramping as you can see by my periodic posting but i have to say that you have all lost valuable ground by not doing research into this company. they started 12 mnths ago as a listing and a junior gold producer to now moving towards being an international producer. blue sky ahead for the next few months with many more positive reports to follow. significant upgrades in their gold to come plus further positive drill results on new ground yet to be released.

go back and read the reports released to date. it is hard to get better than this.

my prediction on sp by march 05 $1 plus
the oppies MMLO also offer excellent value

i will say no more about this excellent opportunity to be a part of a young developping company. 

if you don't want to invest atleast put it on your watch list and watch it all unfold in the next 12 months

regards croc
ps i have now said my peace about MML the rest of the thread is over to you guys if you want to run with it.

over and out croc[ my xmas present to you all]


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## tech/a (24 December 2004)

*Re: MML MEDUSA MINING*

Hmm perhaps the correlation in Gold itself might have a bearing on what happens here.Note August Price and now-------- compared to MML chart


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## ghotib (24 December 2004)

*Re: MML MEDUSA MINING*

FWIW, the January 05 issue of shares has an article about four miners it thinks are on the rise because they're "making the switch from project developer to metal producer. It doesn't refer to MML; it talks about SED, GGN, TTT, and DRA. The common factor is that they are passing a period of "construction risk"  (ouch... reminds me of Chemeq) and should therefore be re-rated by the stock market. 

In relation to Tech's comment about the gold price, the article uses Newcrest as an example. It suggests that the rise and rise of Newcrest is about the removal of construction risk rather than the rise and rise of the price of gold, because in Aussie dollars the price of gold "has barely moved" ($12 over 18 months)..  

Dunno how any of the fits with MML, but seeing as my Shares subscription comes from this board it seems only fair to pass it on.

Solstice Salutations everyone

Ghoti


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## RichKid (29 December 2004)

*Re: MML MEDUSA MINING*

Okay, been alerted to MML by Croc. Had a quick look (only read a bit of the announcementss). Can't believe the low cash cost of US200!!! very low. Also the move to producer looks smooth as all infrastructure seems to be in place and ready to go. My view on gold longterm is bullish but medium term is that gold will range trade (also note issue about rising aussie dollar and its effect on the AU$ price of gold for local miners). I think this is less of a gold price move and more of a genuinely good prospect driving MML independently of gold- although it does help. Note the consolidation in MML when Gold was rising- disengagement.

What concerns me is the issue of shares at 55c next year- I'm worried that this may pull back the share price even though it is a few months away BUT as I have only some basic knowledge about fudnamentals I'll look at the chart:

Ranged b/w 30-57. Recent activity indicates rectangular consolidation (50-57) and breakout from resistance at 57c, now testing 70c before a further breakout or consolidation IMO if the news is as discussed by croc. The support at about 30c was a good time to buy alright but now I see next support at 57c if the price falls that far.

Not sure if I'll buy in yet as I have other stocks on my list and unlike Croc I didn't buy when it was cheap, still IF it goes onto 90c/$1 it'll be a good deal. A bit tied up in other stocks atm so will watch for now for price weakness- more likely to buy options (MMLO- 2006) than MML.

THanks for mentioning this one Croc, looks like I missed it the first time. Hope my observations above make sense- freely criticize (constructively) if I stuffed up.

Also, Ghotib- thanks for mentioning the Shares article, making it to producer always results insome re-rating; that may result in another hike for MML early next year so my quip about the the 55c stock issue may be irrelevant.


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## crocdee (2 February 2005)

*Re: MML MEDUSA MINING*

hi all
first gave this one out august 7-04, when sp was 33c
cant believe no-one has really taken it on board.
closing sp today 68c
sensational announcement today as with all others before.
i believe will be 100c soon
no risks here only time and patients it will happen
have copped a bit of flack from stefan and tech in previous posts, but today MML is still in upward trend and still going north.

MML is still a winner and a big one it will be

regards croc


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## tech/a (2 February 2005)

*Re: MML MEDUSA MINING*

Croc.

Its holding its own since the breakout is ranging a bit though but since August a 100% rise what more would you want.


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## crocdee (2 February 2005)

*Re: MML MEDUSA MINING*

tech
plenty more to come from this one.
those who do the fa/s will be rewarded just like AZR
its all in the reports no secret stuff.

regards croc


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## crocdee (23 February 2005)

*Re: MML MEDUSA MINING*

hi all
md geoff davis has returned from the philippines.
more positve announcements due shortly about progress towards production.

regards croc


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## brerwallabi (23 February 2005)

*Re: MML MEDUSA MINING*

Croc
Medusa looks good to me, have no spare right now so cant join you, have looked very close at it, very low cost and the worry over the government seems to be over, Good Luck nice pick.


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## crocdee (24 February 2005)

*Re: MML MEDUSA MINING*

hi brer

thanks for the reply.
first put MML on the board august 7 2004, sp then was approx 33c.

this company has a lot going for it and will advance to much higher levels from here in a short period of time, and i also believe it will be able to maintain those levels.

having spare cash available to invest in an opportunity when it comes along is always a problem but not the end of the day. you can't be in them all.

to me MEDUSA is a winner i first bought in @ 20c and picked up the oppies @ 1c. if i was entering right now i would be concentrating on the oppies MMLO and at 20c maturity they are well in the money right now with still over 12 months to run.

this stock is definetly worthy of consideration imho

regards croc


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## The Barbarian Investor (25 February 2005)

*Re: MML MEDUSA MINING*

Any thoughts on Harmony ??


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## brerwallabi (27 February 2005)

*Re: MML MEDUSA MINING*

The following from Mining News only adds to the value of this company.
Brer

"MEDUSA Mining says it has signed a memorandum of understanding with Pyro Copper to acquire the Barlo copper-gold-zinc project in the Philippines. 

The company said the acquisition, covering 4360 hectares, adds to the portfolio of projects held by the Medusa-BacTech joint venture, which is focused on projects with difficult to treat mineralisation and ores with high penalty elements.

Barlo was an open pit mine for a 10 years until 1984, during which time it produced approximately 3 million tonnes of ore grading 1.5% copper and 1% zinc.

Medusa said gold was not routinely assayed during previous exploration and mining but previous assays from waste dump samples indicate samples of up 5 grams per tonne. Mineralisation is described as Kuroko style massive sulphides exhibiting zoning in copper, gold, silver and zinc.

The MOU will allow JV partners BacTech and Medusa an Option to undertake work at the site until 31 December 2006 with a MOU signing fee of $US10,000 to be paid to Pyro immediately. If the option is exercised, Medusa, BacTech and Pyro Copper will vend the project into a new entity. 

Medusa said its primary focus is still the Co-O gold mine in Dizon, in the Philippines."


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## Jay-684 (27 February 2005)

*Re: MML MEDUSA MINING*

I bought into these at 64cps, so so far so good! 

by the looks of things the outlook is still good too


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## crocdee (2 March 2005)

*Re: MML MEDUSA MINING*

hi all 
roadshow starts in the UK tomorrow.
team will be back in PERTH march 15.
yesterdays announcement confirms a futher extension of the vein at the 
Co-O mine.
everything looks very good for the future.

regards croc


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## brerwallabi (3 March 2005)

*Re: MML MEDUSA MINING*

Croc
Is that your 10000 @ a $1.10, dont you think they will go higher. Jokes aside the way it is going looks like a $1.00 at easter, looks like its getting ready for a little run again.


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## crocdee (3 March 2005)

*Re: MML MEDUSA MINING*

brer
mml has three figures written all over it.
very big things to come in due course.
excellent leverage in the oppies mmlo

croc


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## mime (23 May 2005)

Ok what's going on with the stock?

There is no trading. It hasn't tanked has it?


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## crocdee (24 May 2005)

*Re: Medusa Mining Ltd*

MML has been suspended from trading while the finalisation of a deal with Philsaga is being completed.
it's all in the reports have a read.
deal should be finalised in about two weeks
big things to come shortly

regards croc


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## mime (24 May 2005)

*Re: Medusa Mining Ltd*

So it hasn't tanked?

Thank god. I got worried when I found out it was suspended.


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## mime (10 June 2005)

*Re: Medusa Mining Ltd*

ok what's going on now?

It's been completly removed from comsec. Does it have a new trading name/ code?


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## Jay-684 (5 August 2005)

*Re: Medusa Mining Ltd*

does anyone here know any more news regarding MML and their trading halt? when will they begin trading again?

I've tried searching here and google, as well as their website but have found nothing. I have emailed them as well and await a reply

any news or a point in the right direction would be great!


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## Singh (6 August 2005)

*Re: Medusa Mining Ltd*

I checked the list of companies which changed ASX Code in 2005, MML not in the list,it should still have the same asx code.Don't have any information about the halt.


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## crocdee (7 August 2005)

*Re: Medusa Mining Ltd*

hi all
there has been a few beaurocratc problems with philipinne govt but all is slowly being soughted out. the deal with phisaga will take place, unfortunately it has been a lot longer than all would like.
most of the problems have been with the use of explosives in the mine.

regards croc


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## Jay-684 (9 August 2005)

*Re: Medusa Mining Ltd*

any press releases/information on when the deal will be finalised and MML will be allowed to be traded again?


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## crocdee (9 August 2005)

*Re: Medusa Mining Ltd*

Jay
nothing has changed since my last post except the day is getting closer

regards croc


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## crocdee (10 August 2005)

*Re: Medusa Mining Ltd*

hi all
 report  just out      
 MML executes lease option to purchase phisaga's plant 
must now be getting closer relisting

regards croc


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## Jay-684 (10 August 2005)

*Re: Medusa Mining Ltd*

good news!

what is everyones thoughts on what will happen once they begin trading again? I think given the amount of time they have been suspended a majority of investors will be frustrated and sell, so I'm thinking a fall in sp.

Will this new deal be large enough to offset any large sell off by current investors?


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## crocdee (29 August 2005)

*Re: Medusa Mining Ltd (MML)*

relisting date is september 26 after placement of shares @ 60c is complete.
those that are not fully taken up have been underwritten.

once the mpsa is complete this will explode
good luck to those who hold

croc


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## Jay-684 (29 August 2005)

*Re: Medusa Mining Ltd (MML)*



			
				crocdee said:
			
		

> relisting date is september 26 after placement of shares @ 60c is complete.
> those that are not fully taken up have been underwritten.
> 
> once the mpsa is complete this will explode
> ...




sorry to sound stupid but what is the mpsa?

and when you say explode, does that mean you think the new deal is a good thing?


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## crocdee (30 August 2005)

*Re: Medusa Mining Ltd (MML)*

mining production sharing agreement
will finalise the purchase of the Co-O Goldmine from Phisaga and allow Medusa to immediately conduct full scale commercial mining operations for a period of 25 years.
also permit further exploration over 500km² reputadely  to be very lucrative

croc


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## crocdee (30 August 2005)

*Re: Medusa Mining Ltd (MML)*

ps definetly a good thing

croc


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## mime (23 September 2005)

*Re: Medusa Mining Ltd (MML)*

Is the stock come back on the market and trading under a different name? It's company info has been removed.


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## GreatPig (23 September 2005)

*Re: Medusa Mining Ltd (MML)*

Take a look here.

GP


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## mime (23 September 2005)

*Re: Medusa Mining Ltd (MML)*

Ok.. So is it coming back?


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## crocdee (26 September 2005)

*Re: Medusa Mining Ltd (MML)*

will re list on or before 28-9-05


croc


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## mime (26 September 2005)

*Re: Medusa Mining Ltd (MML)*

That is good news. I've got a feeling that the price will drop heavily because of the long wait though


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## crocdee (26 September 2005)

*Re: Medusa Mining Ltd (MML)*

mime

may pullback a little on re listing who knows however once mpsa is signed off they will be reclassified as a gold producer

mml should then be rerated and sp should move up substantialy

i'm holding at least till mpsa is finalised

good luck 
croc


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## crocdee (30 September 2005)

*Re: Medusa Mining Ltd (MML)*

to all those who hold

MML has been reinstated everything looks good.
mpsa still yet to be signed off.
future is very bright

regards croc


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## mime (30 September 2005)

*Re: Medusa Mining Ltd (MML)*

Finally. I was beginning to think it was never coming back. Fingers crossed for the future.


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## mime (10 November 2005)

*Re: MML MEDUSA MINING*

Anyone else disapointed with the stocks preformance after coming back onto the market?


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## Jay-684 (10 November 2005)

sold them yesterday

the report they sent out a few months back seemed promising, although the market hasnt really reacted to it at all


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## crocdee (11 November 2005)

mpsa still taking its time
court decission due soon
in the meantime mml have already moved to being a gold producer once they are permitted to use explosives production will increase considerably

md davis is in the philippines atm

regards croc


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## mime (30 November 2005)

Hmmm.. What happened?? Alot more demand for the stock now.


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## crocdee (30 November 2005)

mime
do you hold mml
have you read the reports
another 8km² added to their exploration ground
finalisation of mpsa still positive

croc


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## mime (30 November 2005)

I don't have Acrobat so I cant read the announcments 

Fingers crossed for the future


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## crocdee (1 December 2005)

mime
if you dont have the basic tools for trading then you are gambling
if you have your fingers crossed then you are lucky you hold mml
good luck
croc


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## mime (1 December 2005)

I'll admit I'm gambling on this stock. It's one of my spec stocks. But I don't consider Acrobat all that important for investing.

Fingers crossed


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## crocdee (2 December 2005)

i reckon your on a winner mime
it's all about knowing when to hold and when to fold
atm i'm holding

croc


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## mime (10 March 2006)

How about an update on this stock. It's been pretty lackluster. Do you guys have any expectations on this stock?


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## moses (20 June 2006)

Co-O PROJECT PRODUCTION UPDATE
The Company wish to advise that it is on track to commence gold production from its Co-O Plant in July 2006, at the annualised rate of 40,000 ounces per year.


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## moses (14 July 2006)

Up 6% today. (Nice to something green)


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## ormond (13 July 2007)

Is anyone following this company?
Seems to be flying under the radar.
Low cost high grade gold mining in the philippenes with production expected to reach 100k oz in 2008.
Drilling to comence shortly on das-agan project with cu grading 4.93% at end of hole(250m).
Any thoughts on the potential of this company as i am looking to invest some money in the gold sector?


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## Glen48 (19 September 2008)

MML has gone from .950 to about 1.060 after a take over? from Hong Kong  bank maybe worth looking at ??


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## Sean K (27 September 2009)

Such a shame this has been off my radar, what a great recovery.

Looks like a nice longer term story with cash costs down at $200 an oz.

They reakon they're going to ramp up significantly (to 200-300 oz pa) with further discoveries but sould like a ramp to me. 

A 1.00c entry might have been nice. 
Or, 1.75
Or, 2.75



Looks costly on the EV to Oz Au comparison at $268 the most expensive on my list..


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## Gunslinger (14 January 2011)

Significant jump to close at 7.7 yesterday (current 7.55) from low of 6.34 on Jan 6 when I was stopped out.
Not really accompanied by a corresponding jump in volume.
Anyone got any ideas on this?

I am a very green newb so any insight appreciated 

Cheers,
Jb


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## tinhat (15 January 2011)

Gunslinger said:


> Significant jump to close at 7.7 yesterday (current 7.55) from low of 6.34 on Jan 6 when I was stopped out.
> Not really accompanied by a corresponding jump in volume.
> Anyone got any ideas on this?
> 
> ...




MML were issued with a speeding ticket by the ASX on the 13th Jan.
http://www.asx.net.au/asx/research/companyInfo.do?by=asxCode&asxCode=MML#headlines

Because insider trading does not happen on the ASX we just have to assume there are some very bullish investors out there driving up the price on moderate volumes of trade.


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## Gunslinger (17 January 2011)

Hmm,
"Change in substantial holding" registered with ASX today, that might explain it.


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## Wysiwyg (21 August 2011)

How is Medusa looking now, being unhedged into this financial year? Cost per ounce is incredibly under 200 per ounce which compared to present pog is massive profit. High grades above 10 grams per tonne is what keeps that cost low. Looking for best upside in goldies. Any better???


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## mr. jeff (21 August 2011)

what about TRY their cost is $0/Oz after  credits? Don't know much About MML why don't you fill a lazy in


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## Wysiwyg (13 December 2011)

MML got the no vote in a big way with a new 1 year low now though it did put on some after my post. Producers fairing better in this climate? Appears to me the pog has stalled and is at a decision point right now. I'll go for two monthly bar discards. 

TRY building a biggish ascending triangle.


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## Chasero (13 December 2011)

Wysiwyg said:


> MML got the no vote in a big way with a new 1 year low now though it did put on some after my post. Producers fairing better in this climate? Appears to me the pog has stalled and is at a decision point right now. I'll go for two monthly bar discards.
> 
> TRY building a biggish ascending triangle.




Not sure about other traders but I dumped all my MML shares for NST shares..

The 2 yr low is about $4.40 right?


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## Chasero (17 January 2012)

Chasero said:


> Not sure about other traders but I dumped all my MML shares for NST shares..
> 
> The 2 yr low is about $4.40 right?




MML bounced off heavily from it's $4.40 low.

Triple bottom in and now it's at $5.50.

Announcement today after market close:

http://www.asx.com.au/asxpdf/20120117/pdf/423t2zdqcrx943.pdf

Long MML as of today (at $5.45)

Took profits in NST @ 92.5 and back into MML


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## Chasero (19 January 2012)

No one interested in MML?

currently outperforming other goldies.

Break of resistance @ $5.50.

Could see a run up to $6.00 if gold holds up.

Announcement a tad conservative it appears and had little effect on sp.


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## Macros (19 January 2012)

Chasero said:


> No one interested in MML?
> 
> currently outperforming other goldies.
> 
> ...




Was an easy call below $5 and even better at $4.50. I see little reason for it not to go back above $7, if not again reach the highs under a more supportive gold price. The price falls didn't make a lot of sense, except for some short-term issues. MML is a fairly straight forward longer term position as they move towards substantially higher production, albeit with the one risk of operating in the Phillipines. Still good at current prices.


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## Macros (19 January 2012)

My only concern is that the lower prices are now riddled with gaps. Not sure if this is an issue for MML, but it does give me some caution. Then again I'm not a TA expert.


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## explod (19 January 2012)

Mmm

MML, in the last 12 months down 25%

Says something may be wrong.

Other better ones on our own soil in my view.

Say, NST up 250%

AYN from 4 to 8 cents up 100%


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## mr. jeff (19 January 2012)

I don't view that performance as necessarily that bad. There are a lot of goldies that have gone backwards with no great reason other than a change in sentiment. 
Have a look at PRU, RMS, OGC, RED, IGR, EVN, FML etc. A lot have not set the world on fire even with reasonable projects and or production. 
Whether this changes, who knows.


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## Chasero (24 January 2012)

Needs to close above $5.58 today for next move up.

Resistance @ $5.52 proving really strong. Stuck in trading range for over a week!

Fingers crossed today will be the next push.


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## Chasero (27 January 2012)

Chasero said:


> Needs to close above $5.58 today for next move up.
> 
> Resistance @ $5.52 proving really strong. Stuck in trading range for over a week!
> 
> Fingers crossed today will be the next push.




Strong volume on Wednesday @ above 1m, closing 2 days green. (it went one day up above $5.50 one day below $5.50 for a week)

Should rally to $6.00 by early next week.

Looking strong today.


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## Chasero (30 January 2012)

Anyone else holding MML shares? 

Hope it'll close past $6bucks today..


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## kermit345 (30 January 2012)

So I was on a flight home from Brisbane today reading a book tilted towards a value investing approach and I've also been re-assessing the course my own investing approach is taking. The book concentrates on low debt, high return through cashflows and share price catalysts.

Instantly MML popped to mind on the flight and I started thinking about how their cashflows are strong, they are expanding production which is the catalyst and they have no debt (are unlikely to take any on either).

So I decided to look at a really basic approach to estimating where the share price could be heading with the production expansion that Medusa plans to achieve. I based it on a gradual decreasing profit margin of 74.20% in 2011 down to a margin of 60.00% in 2016 due to extra costs / possible tax etc that may occur. I then adjusted this to 95% to approximate cashflow/share. Currently Medusa trades at approximately 12.35 times cashflow/share for FY11.

Hence I made the following projections of share price based on cashflow per share which can be reasonably easy to predict (providing nothing major goes wrong) due to the 1 operating mine producing the inflows. Note i've highlighted in orange where the shareprice is approximately in comparison to current gold price and P/C ratio (Price over Cashflow/share)







Notice the current shareprice is very close to what i've estimated based on current FY12 estimates and current USD gold price. Note that as production increases a P/C ratio might expand as well which means the shareprice could expand considerably based on the simple achievement of cashflow expansion through production expansion.

The following chart just shows my basic understanding of some support and resistance levels that could be tested and hopefully 2,3 and 4 can be pushed through moving forward. The circles show where low volume meant a sustained push above the No. 4 resistance couldn't be achieve. The high volume below the No 1 support shows that there is great share price support that low.

The way I see it is that if/as my production and cashflow forecasts come to fruition then the share price will continue to appreciate in line with this. The main issues are having 1 operating mine and being overseas, hopefully they can remain under control going forward. Chart below shows where I think the share price could head moving towards the end of FY12.






I'm interesting in the thoughts of others, but this was just some basic analysis i did tonight when I got home from my flight. Definitely increases my interest in buying some MML shares to hold through the production expansion plans.


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## skyQuake (30 January 2012)

Crappy quarterlies -10% in LN


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## Chasero (31 January 2012)

skyQuake said:


> Crappy quarterlies -10% in LN




What does LN mean?

BTW, thanks for the in-depth analysis Kermit, was an interesting read.

I already sold all my shares yesterday @ 5.91. After 11am it dived back down under $6.00 and no volume, so I did a quick exit.


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## kermit345 (31 January 2012)

No problem, MML definitely has trading opportunities as it moves around quite a bit.

The quarterly obviously wasn't pretty in terms of what was produced last quarter, but if your a long-term holder its more a blip on the radar and a buying opportunity IMO. If the share price rocketed below $5.00 then there would be cause for concern however I can see the share price rebounding well if FY12 guidance is re-iterated as on target at the end of this quarter.

Certainly think $7 is a reasonable target for July/August and $8+ by years end providing POG stays above $1,600 per ounce and production guidance is achieved.


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## Chasero (31 January 2012)

kermit345 said:


> No problem, MML definitely has trading opportunities as it moves around quite a bit.
> 
> The quarterly obviously wasn't pretty in terms of what was produced last quarter, but if your a long-term holder its more a blip on the radar and a buying opportunity IMO. If the share price rocketed below $5.00 then there would be cause for concern however I can see the share price rebounding well if FY12 guidance is re-iterated as on target at the end of this quarter.
> 
> Certainly think $7 is a reasonable target for July/August and $8+ by years end providing POG stays above $1,600 per ounce and production guidance is achieved.




Yep, looks like the next 2 days will hit MML hard... might hit $5bucks.


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## tinhat (21 March 2012)

Oh Medusa, never fails to disappoint! Down over 10% this morning on the open - now at $5.12



> Philippines gold miner Medusa Mining (LON:MML, ASX:MML) has reduced its production forecast for the current year for a second time after heavy rain forced it to take four leaching tanks offline.
> Medusa now expects its Co-O mine to produce between 60,000 and 65,000 ounces in the year to June.
> Adverse weather over Christmas and the New Year had already seen the this year's target reduced from 90-100,00 ounces to 75,000 ounces.
> Output in the next three months will also be affected by an upgrade to the electrics at the processing mill and mine at Co-O, Medusa said.
> ...






> Adverse weather over Christmas and the New Year had already seen the company reduce its target from between 90,000 and 100,000 tonnes to 75,000 tonnes.
> 
> Four large leach tanks constructed in the last two years had been taken offline after subsidence of their footings had caused the tanks to tilt. The company cited tremors triggered by the magnitude 6.9 earthquake centered near eastern Negros Island on 6 February and the saturated ground conditions due to incessant rain since December 2011 as reasons for the subsidence.
> 
> ...




These are the boom years and Medusa is missing out on production.


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## Chasero (21 March 2012)

Talk about bad weather.

Storm last year.

Now earthquakes!??

MML went from around -12% to -6% then down again...  ouch!! Definitely huge swings today.

MML real unlucky


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## tinhat (23 March 2012)

Down again today by quite a bit (>4% as I type). $5 is a salivatingly attractive price. I am already quite long in MML. What to do? If I wasn't long I'd be jumping in at the current price. Putting aside all the normal business risks, this company has the potential to achieve massive profits even if gold prices were to fall to under say $1,200. Once they do ramp up their production (assuming they can reach the 400,000oz level) I believe MML will be seen as a defensive pure gold play having such low cost of production. Getting there is not without risk though as we are seeing with the current production problems.

Oh yeah, I came here to post this:


> Medusa Mining managing director tops up holding
> Thu 4:52 am by Philip Whiterow
> 
> Medusa Mining’s (LON:MML, ASX:MML) managing director has topped up his holding in the Philippines-based gold miner.
> ...




and this


> Director Deals - Medusa Mining Ltd (MML)
> 22 March 2012 | 09:30am
> StockMarketWire.com - Dr Robert Weinberg, Non Executive Director, bought 2,500 shares in the company on the 22nd March 2012 at a price of 334.20p. The Director now holds 59,975 shares.
> 
> ...


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## tinhat (30 March 2012)

Up 6% in the first hour of trading. My goodness. Someone, somewhere has realised what a bargain this stock is.


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## StumpyPhantom (24 June 2012)

tinhat said:


> Up 6% in the first hour of trading. My goodness. Someone, somewhere has realised what a bargain this stock is.




Tinhat - your March post suggests you've been following this stock over the last couple of months.  It seems to have fallen through a support level on Friday to end up at $4.80.  I was wondering if you had any company-specific theories for this (most other gold stocks I've been following fell significantly on Friday as well)?

Are you still looking at this stock as a bargain?


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## tinhat (25 June 2012)

StumpyPhantom said:


> Tinhat - your March post suggests you've been following this stock over the last couple of months.  It seems to have fallen through a support level on Friday to end up at $4.80.  I was wondering if you had any company-specific theories for this (most other gold stocks I've been following fell significantly on Friday as well)?
> 
> Are you still looking at this stock as a bargain?




I haven't been keeping a close eye on this stock and I'm not aware of any big changes to the outlook of the company's fundamentals. I didn't read the most recent investor update or the March quarterly report. I've downloaded them and will read them now.

I guess the market is just risk-off and it is a more speculative play given that the upside of large scale production is still off into the future (the new mill is another 18 months or so away from production) and has been subjected to delays due to natural events. The market is just discounting future cash flows more heavily at the moment. As I mentioned earlier, earnings are going to be down this year and I guess that has disappointed the market. The other risk is increasing costs as production expands. 4.80 represents a PE of 13 so the market is pricing very little of the upside to future production into the price given that they are planning to quadruple production over the next few years. They reckon they've got a lot of unexplored gold in the tenements too.

I've got another holding HZN that is in the same boat. The market seems to be fully discounting the potential of its PNG tenements which are subject to development in the medium term. But that is another story...

I see MML as a well run company with a clean balance sheet that has big upside potential to turn into a cash making machine that could generate big dividends down the track, but do your own research.

It's a medium term capital growth holding in the SMSF. That said, I'm keeping a close eye on the prices of my current holdings as I do think there is a risk of another leg down for the all ordinaries. So, I wouldn't be buying anything at the moment.


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## kermit345 (25 June 2012)

I've followed MML for a while now as well and essentially agree with everything tinhat has said. If MML drops below $4.50 i'll be watching with a lot of interest waiting to buy in. The EPS this financial year is going to be lower then last due to the lower gold produced due to site downtimes and upgrades limiting production. However production is expected to fully recover in the 2012-13 financial year and then increase materially from there onwards.

If you look at my very simplified estimates provided in january, even if the gold price drops to $1,000 per ounce but Medusa reaches their 200,000 ounce output in 2012 your still looking at approx an $8.50 stock which is almost double today's price. Not a bad return if they fulfil their growth plans in 2 years time - which I believe management can achieve.


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## tinhat (23 August 2012)

Don't name your company after a nasty woman with snakes for hair.

The latest saga is a fire in one of the mine shafts.

http://www.stockmarketwire.com/article/4431303/Medusa-Mining-hit-by-fire-damage.html


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## skc (23 August 2012)

tinhat said:


> Don't name your company after a nasty woman with snakes for hair.
> 
> The latest saga is a fire in one of the mine shafts.
> 
> http://www.stockmarketwire.com/article/4431303/Medusa-Mining-hit-by-fire-damage.html




On a day where most gold stocks broke out for 5 to 13% gains, MML is the only major gold stock that I track which went backwards - and up to 10% backwards at one stage.

The most unlucky day to announce a fire.


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## kermit345 (24 August 2012)

Seemed like market was just starting to get back onboard with Medusa as well. Company seem to think FY production wont be effected and that the repair work will actually improve the haulage efficiency.

I'll continue to hold MML for the medium term, I actually bought some more a couple of weeks ago at $5.00 but was annoyed with myself because i'd tossed and turned about it at $4.60 but decided to wait. I just feel that with no debt, increasing production and a reasonably stable gold price they could easily get back to their highs of $8.50 in the medium term, if not higher.

If they keep having these kind of incidents though it may set them back. Do more modern mines still use timber frames? Surely not.


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## tinhat (10 September 2012)

The market seems to be back on board with MML and seems to be happy enough with production guidance for the current year. Up 6% so far this morning. If it closes this week up around the $6 level it will be firmly above the 200 day moving average (I generally use weekly chart for my holdings). It opened up this morning with a nice gap up to $6 so hopefully this will be a support for the short term - not that I am interested in the short term - more interested in the next few years with interest in seeing whether this company's plans come to fruition and whether it turns into a cash generating solid dividend payer in the medium term.

I wonder if any TAs are following MML at the moment - what are your thoughts?


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## tinhat (31 January 2013)

Looking at my last post support didn't hold at $6 and now it looks like it falling again with $4.45 being a strong support point. I don't know what the market wants from this stock? The production report seems to have hit guidance and mine expansion is on track. This is a company that is ramping up to 300,000 ounce production in CY15 then to 400,000 in CY16 and beyond. All being funded from proceeds of current mining with absolutely no debt on the balance sheet. Furthermore marginal costs are way at the low end of the industry.

Perhaps it was mention of the uncertainty remaining (the "sovereign risk") over the Philippines government's review of mining tax. It is interesting that MML have appointed their legal counsel to the board.


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## kermit345 (31 January 2013)

Hi tinhat,

The following is a post I made on another forum in regards to Medusa. They did miss their guidance for the December quarter and hence have downgraded their full financial year expectation of ounces produced but I still think they are well undervalued at these levels and bought some more myself today. If they can get even remotely close to all their production estimates over the next 12 months, providing the gold price doesn't take a dive and costs remain at or below the $300 level I really struggle to understand how the price isn't at least above $6 and closer to $8+

Heres the post:

Hi Guys,

I've held MML for quite some time, haven't posted here for a while but given the recent price decline I thought i'd re-check some back of the envelope number given the situation shown in today's announcement.

Firstly, current FY:

Q1 - 14,403 ounces @ $328 p/ounce costs sold at average price of $1,636 per ounce
Q1 Revenue - $18,840,000

Q2 - 18,117 ounces @ $279 p/ounce costs sold at average price of $1,731 per ounce
Q2 Revenue - $26,305,000

Q3Est - 22,000 ounces @ $280 p/ounce costs sold at average price of $1,650 per ounce
Q3Est Revenue - $30,140,000

Q4Est - 23,000 ounces @ $280 p/ounce costs sold at average price of $1,650 per ounce
Q4Est Revenue - $31,510,000

Total Estimated Revenue of $106,795,000 against approx 190 mill shares is EPS of $0.56 per share. Note this is based on production of 77,520 ounces which is under the company's guidance. 

Based on current share price, company woud be on a P/E of 8.85. Previously the company's P/E has hovered anywhere between 10 and 20 which based on my EPS estimate is a share price between $5.60 or $11.20 (obviously the smaller figure is more realistic) which on $5.60 would already provide a 13% return.

Also note that the last time EPS was above $0.50 the market pre-empted it based again on the quarterly figures and reached a peak of $8.70 per share. Also note when this occurred they were merely making the investment decision and making small starts to the construction process, we're now much closer to ramping up to the 200,000 ounces per year stage as evidenced by this year's calendar year estimate of 140-150,000 ounces.

Lets assume for a second that they achieve 130,000 ounces for the calendar year with cash costs of say $300 per ounce and avg gold price of 1,600 which equates to EPS for the CALENDAR YEAR of $0.89. I find it hard to imagine the market doesn't react in some positive way to these kind of figures.

Note the only things that can stop the scenarios above coming to fruition is weather/natural disaster, gold price slump or teething problems with the expansion.


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## Country Lad (31 January 2013)

kermit345 said:


> .................but I still think they are well undervalued at these levels............




Kermit, are you sure that you are not rationalising your decisions here?  Without having a go at you, I see you saying the price should be higher and the market saying the price is too high and consequently it is very much in downtrend at the moment.  You may be betting against the market, but unfortunately, regardless of what we individually think about the price of a share, the market is always right.

They missed their guidance and for any company that is a sin and they will be smacked hard by the market until they can prove they are back on track and that may take another quarter or two.





kermit345 said:


> If they can get even remotely close to all their production estimates over the next 12 months........




A big IF and markets don't deal in, or rely on, IFs




kermit345 said:


> .......providing the gold price doesn't take a dive




Another IF




kermit345 said:


> ..... and costs remain at or below the $300 level




Another IF



kermit345 said:


> I really struggle to understand how the price isn't at least above $6 and closer to $8+




Sorry, the market deals in both the facts of the here and now and prospects 6 months ahead.  Right now, they missed the guidance, there is nothing to say they won't miss the targets next time, there are other companies doing better and achieving targets so expect the probability of the MML price falling for a little while.

Cheers
Country Lad


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## kermit345 (31 January 2013)

Guess we'll just have to see how it plays out Country Lad, the way I see it their reasoning for missing the guidance over the last two quarters has good reasoning behind it. I'm willing to take management at their word as they've continued to be open and honest (as far as I can tell) regarding production, guidance, issues etc ever since I started holding.

Also while I agree with you that the market is always right, I'd adjust that statement to say thats its always right eventually. For instance read the TGA thread where many people bought in at $1.50 because people were discussing and agreeing on the undervalued nature of the business, turns out those people (and the market) eventually got it right and now its over $2.00.

My view on the market is its a bit like a person driving a car, they might be in the correct position on the road most of the time but they can also swerve off a little bit, then over-correct and swerve to the opposite side. Same with the market, they get it right when they are in the middle of swerving but there are opportunities either side of that to buy and/or sell when it over-corrects or under-corrects.

Anyway probably just a difference of views, either way I have confidence in management and the company that by years end they will producing more ounces of gold with a higher EPS and the share price will reflect that.

Cheers


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## tinhat (24 April 2013)

The last few days have seen notices of ceasing to be a substantial holder and change of substantial holding notices being lodged with the ASX. It looks like institutional investors are getting out of MML and so it might be a while yet before the share price recovers and there could be more downside to the share price yet even if gold does recover or stabilize.

I'm planning to increase my holding substantially at some point but it might be a while off yet.


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## kermit345 (26 April 2013)

I wouldn't be too concerned, there's been 5 notices of changes to substantial holding (none ceasing to be substantial holders) and 2 of those were vanguard which would have to reduce their position due to MML getting pushed down so hard over the last week. While the other two institutions have reduced their positions it hasn't been by a huge amount (a few million shares) which has probably put pressure on the share price but it looks to have subsided for now.

The positive side to this is if (i believe more like when) we see an increase to the share price Vanguard will be required to increase their stake again in line with the index which will further increase the price which may get institutions to jump back in some more again.

Personally, I believe the share price will take care of itself over the next 12-18 months PROVIDING that Medusa reach or come very close to reaching their desired 200,000 ounces per year production guidance. If they can achieve this the share price will take care of itself.

Note: I'm a believer that the gold price will not drop below around $1,200 per ounce and is likely to stay either where it is currently or move back higher again. In these scenarios MML still makes a great margin on its gold sales. The gold price would have to drop to $600-$800 per ounce before it was of a concern to MML.


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## tinhat (2 October 2013)

I was surprised to see that the price of MML held up today. I was expecting a fall on the back of falling price of gold. Perhaps 2.05 is the new support level?


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## tinhat (31 January 2014)

tinhat said:


> I was surprised to see that the price of MML held up today. I was expecting a fall on the back of falling price of gold. Perhaps 2.05 is the new support level?




Haha - that was funny. 

MML is getting hammered today after releasing a quarterly report that seems to have disappointed the market. There were no great surprises in the quarterly but I guess the instos that bought in the capital raising at 1.80 are now heading for the doors and taking their profit?

The new mill seems to be getting up to speed through the commissioning. Perhaps investors are concerned about the mining - whether enough ore at high enough grade is being mined to feed the mills? Is anyone following this miner that has an opinion on whether they are going to ramp up mining enough ore to feed the new mill? By the end of next quarter they should have three mills, one new and two relined all at full production.

Given that MML has just had two absolutely dog years of mining, production the shares seem priced for things to only get worst and surely with the new mill being commissioned things have to look up!


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## kermit345 (6 February 2014)

tinhat, i've held onto my MML through all the bumps in the road and even bought more at these lows. I certainly feel that everything negative is essentially priced in at this $1.80-$2.20 type level and that there is upside to at least $3+ once they start having some success with the full production. Everything over the last 2 years has been a process of getting to this point of producing 200,000 ounces per annum and they are ramping towards this now.

Many of the issues have been largely out of their control (fires, terrential rain, etc etc). You could argue the power cells was their fault for going to a crappy provider but it seems the new ones must be doing the job so maybe that was just unlucky as well. Either way i think we've seen about 80% of things go against them and maybe 20% of things go their way of the last 2 years and my view is that those %'s will shift now as the ramp up to full production occurs.

The back of the envelope calcs i've done on MML show that $3.50 is a real possibility if 150,000 ounce production occurs with no shift in the gold price. If anything close to 200,000 occurs and the gold price stays the same or increases, then anything north of $4.00 is not out of the question in my view.

That might sound very optimistic but they got well past those price levels on just 100,000 ounce production and while the gold price at that stage was around $1,600+, the gold price hasn't halved but the production may double, so $4.00+ to me is not out of the question.


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## Gordon7 (11 April 2015)

I like the current look of the MML chart. 

We can expect a pop on Monday due to Golds rise overnight, which sets up the ascending triangle pattern currently under construction. 

The triangle pattern aside there's a few other things to like about this chart, namely the constructive build up off the November lows and the pending break of the longer term descending trendline at the same time the ascending triangle break comes into play. 

Gold stocks unfortunately need some co-operation from the price of Gold itself, but nonetheless I can see MML reach $1.10 at least in the short term.


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## joeno (31 July 2015)

Anyone know what's wrong with these guys? Bought a small lot. Been tanking hard.


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## noirua (24 January 2016)

kermit345 said:


> tinhat, i've held onto my MML through all the bumps in the road and even bought more at these lows. I certainly feel that everything negative is essentially priced in at this $1.80-$2.20 type level and that there is upside to at least $3+ once they start having some success with the full production. Everything over the last 2 years has been a process of getting to this point of producing 200,000 ounces per annum and they are ramping towards this now.
> 
> Many of the issues have been largely out of their control (fires, terrential rain, etc etc). You could argue the power cells was their fault for going to a crappy provider but it seems the new ones must be doing the job so maybe that was just unlucky as well. Either way i think we've seen about 80% of things go against them and maybe 20% of things go their way of the last 2 years and my view is that those %'s will shift now as the ramp up to full production occurs.
> 
> ...




Near two years later and the once heralded gold company was to produce some of the lowest cost gold in the world. Some thought $4 on the cards but trading under 40c as I type and confidence has gone through the floor. Hard to really point at bad problems now and just maybe they are a good punt, well just maybe.


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## kermit345 (9 February 2016)

Gold price has been the main deterrent along with all in costs being much higher then originally expected. Previously they only quoted a portion of these costs but now show all-in costs in each of their reports. Has rebounded recently given the rise in gold price and they still haven't reached the point where they produce 200,000oz per annum.

Still feel like the company has potential to get back to the $3-4 mark but depends largely on the gold price.


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## noirua (8 May 2018)

Medusa suffered with all its irons in one Filipino gold mine that has never quite achieved the big expectations of 6 years ago. The share price has plummeted from over $5 down to an earlier low point under 30c.  Looks to be slowly getting its act together and one to watch for entry as sentiment improves.


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## noirua (10 June 2018)

I have been gradually adding MML shares for several years and moved into plus territory at 45c . The shares are frustrating after having hit around $6.00 some many years back. Look to be recovering in an up and down nervous fashion. A goldie that might well surprise going forward.


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## peter2 (19 June 2018)

The MML chart was looking good until the sudden selling. No news has been released.


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## noirua (1 September 2018)

MML is basically a disaster over the years. Probably the worse performance amongst all the gold shares. Once mid-cap and now, lost its cap. Promised gold production at the lowest cost in Australia and failed miserably at every single turn. Now twisting and turning but on the same spot.

 I thought averaging down to 45c a share was a good move and $1.00 a certainty. Nay it was not and around 35c against a high around $8.00 now. Procrastination is the thief of time and our money as well.

Still, tough cookies for those who lost or are losing money, myself included.  Is there a way back to the good times. In a word NO! However they are ones to keep an eye on at this low level should the current management see some real success.


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## noirua (3 February 2019)

Well MML are now trading in the area 35c - 45c and taking little notice of the gold price. RED5 is now up 170% from its low point and MML up about 40%. Both extreme laggards and cash investment destroyers, big time. RED now appear to have gained traction but MML languish.
-----

7 May 2018: Medusa suffered with all its irons in one Filipino gold mine that has never quite achieved the big expectations of 6 years ago. The share price has plummeted from over $7 down to an earlier low point under 30c. Looks to be slowly getting its act together and one to watch for entry as sentiment improves.

2 October 2013: I was surprised to see that the price of MML held up today. I was expecting a fall on the back of falling price of gold. Perhaps 2.05 is the new support level?

19 January 2011: Was an easy call below $5 and even better at $4.50. I see little reason for it not to go back above $7, if not again reach the highs under a more supportive gold price. The price falls didn't make a lot of sense, except for some short-term issues. MML is a fairly straight forward longer term position as they move towards substantially higher production, albeit with the one risk of operating in the Phillipines. Still good at current prices.

14 January 2011: Significant jump to close at 7.7 yesterday (current 7.55) from low of 6.34 on Jan 6 when I was stopped out.

6 August 2004: Considering this stock has been trading at 60cents a few months ago, what would you regard as the main reason for the pull back?


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## noirua (5 August 2019)

No longer trading in the 35c to 40c range as Medusa push through the 80c level and that without the Philippine assets that just sit there. The high Aussie dollar gold price has been a saviour. Look now to be ready to challenge the $1 level after so many years in the doldrums.


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## noirua (18 August 2019)

Medusa are up about 180% from the low point but is really a laggard in this sector compared to RED, RMS and SLR. Dropped back again from the 90c level and though cheap, imho, this share is out of favour still. It was once at around $6.00 in 2012 and about to become the world's lowest cost producer - that all fell apart.


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## systematic (1 January 2020)

Have picked MML amongst my tips for the 2020 comp. Just in a typical turnaround scenario more than an option on gold.


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## Trav. (24 December 2020)

Trialing some new software and I still have my training wheels on so bear with me as I post a few charts and hopefully I can get 1 or 2 predictions correct

MML is a stock that I have not looked at before and being a gold stock naturally I am interested now

Daily chart below showing the potential pivot point zone for wave 2 and the potential wave 3 targets, MML is also in over sold territory so will it pivot up or ........ to be continued


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## barney (24 December 2020)

Trav. said:


> being a gold stock naturally I am interested now




I read their recent preso Trav ...... Lots of good numbers, but two alone for me say it all ...

Market Cap about $150 million

Cash/Bullion on hand  +$60 million  (super positive ratio for a producing Co)

Plus, Royal Crowne had a + 67 metre hit at over 5 g/t Gold in recent drilling!!

Assuming the POG remains reasonably stable, if this Goldy fails, all other minnow Goldies are doomed

If I had spare cash I'd buy some myself!  Tempted to try and find some🧐


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## Trav. (24 December 2020)

@barney I like the 207M share issue as well. Not in the Billions like some smaller stock.

I am like you, and might have to offload 1 or 2 to find some extra coin


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## Trav. (25 December 2020)

barney said:


> Market Cap about $150 million





Trav. said:


> I like the 207M share issue as well. Not in the Billions like some smaller stock.



I probably shouldn't drink and drive the computer as I see that @barney quote of $150 million Market Cap includes my observation of 207M shares issued ( very astute Trav )


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## barney (25 December 2020)

Nah, its still a valid point @Trav.  The odd Stock i own has SOI in the billions with lower market caps than MML. I think the lower SOI, but higher SP is generally more attractive to a lot of punters.  If they ever need to raise capital etc, it can be less dilutive to the register. In reality its still the same ratio with different numbers but if a low priced spec needs to issue  few million shares just raise a small amount, it can be a psychological barrier to holders.


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## Trav. (31 December 2020)

I have entered MML today and we will see how we go.

Avg buy price $0.777 so lets hope that we are lucky 7 has a better result here   



jbocker said:


> Well as a young man I was hugely impressed with this and thought I would repeat it myself on Feb 11 one year. I chucked my dart and it landed on triple 7. Oh well that maybe means something i thought. I went to the races by taxi to Ascot and the number plate had at least two '7's in it. Ok I thought. Jumped in the car and got talking and the driver said he came to Australia or got married or something on July 7th. Got to the races and met me mates had a few bets and beers was doing pretty poorly I was down 20 odd bucks.
> Then the 7th race came up and it dawned on me Hey whats horse number 7. Cant recall its name but I had feeling this was it. There was a strong field I looked over the bookies they were all about 5s and 6s and then one bookie spun up 7 to 1 and to boot his freking name was Sven. I checked my wallet and had $75 and I asked a mate for $2 to make it $77 and got it on at 7 to 1. Told all my mates the story they said I was an idiot and then ran off and put bets on the same horse. Sven the bookie had spun down to 5s by then so I had the best odds and I gave them crap about it. They said if you're on it Jocks so are we!!The race goes off we were cheering and yelling and GUESS WHAT!! It came 7th.


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## Trav. (5 January 2021)

Trav. said:


> Trialing some new software and I still have my training wheels on so bear with me as I post a few charts and hopefully I can get 1 or 2 predictions correct
> 
> MML is a stock that I have not looked at before and being a gold stock naturally I am interested now
> 
> ...




MML doing very nice and W2 confirmed, target zones as per below

Holding


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## Trav. (14 January 2021)

Some sad news - 2 workers killed underground.

This follows other fatalities announced on the 27/02/202 and the 25/08/2020.






Holding but maybe not for much longer


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## Trav. (15 January 2021)

Decided to sell out this morning as MML's safety performance is very poor as I noticed that they had an additional death to the ones I mentioned above.

Obviously they have issues and it is a matter of time that they are shutdown, or at least should be.

Sold at a small loss but happy to be out.


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## divs4ever (27 July 2021)

Quarterly Report (  the top bit )

Co-O Mine Operations
 Production: 22,396 ounces at an average head grade of 5.89 g/t gold (Mar 2021 Qtr: 18,359 ounces at 6.21 g/t gold).
 Cash Costs: US$827 per ounce (Mar 2021 Qtr: US$883 per ounce).
 All-In-Sustaining-Costs ("AISC"): US$1,594 per ounce (Mar 2021 Qtr: US$1,304 per ounce).
 Mill performance: Gold recovery averaged 95.4% (Mar 2021 Qtr: 95.8%).
 Mine development: Total underground advance of 5,942 metres of horizontal and vertical development (Mar 2021 Qtr: 5,813 metres). Tigerway Decline Project commenced with the portal initial excavation and support completed.
 FY2021 production guidance achieved: 95,193 ounces of gold produced in FY2021 was slightly above the upper guidance. AISC of US$1,231 per ounce was achieved within guidance.
 COVID-19: Preventive measures to reduce the health risk to personnel while at work continue to be followed. A general community quarantine directive remained in place at the end of the quarter. Co-O Mine Exploration
 Underground resource drilling: Total drilling for the quarter was 13,027 metres, a 53% improvement quarter-on-quarter (Mar 2021 Qtr: 8,500 metres). Key areas and highlights are as follows:
o Reserve drilling at Levels 4, 7, 8 & 10 totalled 4,460 metres from 24 holes;
o Resource drilling at Levels 10 & 12 totalled 8,568 metres from 16 holes; o High-grade results returned from the drilling include 1.0 metre @ 83.4 g/t gold; 0.70 metres @ 29.0 g/t gold; 0.25 metres @ 24.3 g/t gold; 0.95 metres @ 23.7 g/t gold; and 1.60 metres @ 13.1 g/t gold. Regional and Near Mine Exploration
 Co-O near-mine exploration: o Increase in the Mineral Resource for the Royal Crown Vein deposit to 409,289 tonnes at a grade of 6.92 g/t gold for 91,088 ounces following incorporation of Phase 4 drill results. An underground approach for future drilling to increase the RCV resource is currently being planned. o Exploration activities around Co-O and within the Company’s tenements are progressing. Corporate and Financial
 Total cash and cash equivalent on metal account at quarter end of US$72.2 million (Mar 2021 Qtr: US$72.2 million)

 DYOR

 i hold this share 

 time to hit the sell button  ( and crystalize a loss )

 ( sigh )

 no wonder nobody has posted on this one before


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## InsvestoBoy (27 July 2021)

Long thread going back to 2004 here, ask @Joe Blow to merge your post into there and delete this thread  https://www.aussiestockforums.com/threads/mml-medusa-mining.235/


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## divs4ever (27 July 2021)

wow

 that missed  the search engine

i tried MML then Medusa Mining

 thanks

  could you please help , Joe ?


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## noirua (27 July 2021)

Trav. said:


> Decided to sell out this morning as MML's safety performance is very poor as I noticed that they had an additional death to the ones I mentioned above.
> 
> Obviously they have issues and it is a matter of time that they are shutdown, or at least should be.
> 
> Sold at a small loss but happy to be out.



Medusa has certainly been a laggard compared to Ramelius and Silver Lake. If they'd gone ahead in a similar style the price would be many multiples as of the present. If the gold price recovers in US$ terms they could well not be left out this time around.
----

Was expecting a cash increase this Q to over $80 M. looks like MML has added the Tiger Way costs into the AISCs, which add around $300 to the Qty costs. That drop in grade is also symptomatic of the last time Teo took charge, as a COO keeps on top of mine grade and Teo isn’t a mine manager. That said if MML can pay for Tiger Way out of operating cash flow and retain $70-75 M in cash, that will work while construction happens. Another month or so until audited results and forward guidance for 2022 - by polaris​Quarterly Report - https://www.medusamining.com.au/wp-content/uploads/2021/07/210727_june2021quarterlyreport.pdf​


​​


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## divs4ever (27 July 2021)

i have an exit  order in the market 

 it is a bit higher than the closing price  , i have held this  since January 2012 .. i am becoming deaf to excuses .. deaths , generator contractors , flooded shafts , dodgy lifts ,  failing pumps .. and at least one road washout 

 good luck if you continue holding


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## System (10 May 2022)

On May 10th, 2022, Medusa Mining Limited (MML) changed its name and ASX code to Ten Sixty Four Limited (X64).


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## Dona Ferentes (10 May 2022)

*Ten Sixty Four (X64) *is an unhedged, high-grade gold producer which operates the Co-O Gold Mine in the Philippines. 

The Company’s FY22 guidance is for 87,000 to 90,000 ounces of gold production at an All-In-Sustaining-Cost of between US$1,350 to US$1,400 an ounce. Ten Sixty Four has no long term debt and is targeting new growth opportunities in the Asia Pacific region.

*Successful Acquisition of 1064 *
－ Medusa completed the acquisition of Ten Sixty Four Queensland Limited (1064) by the issue of 20m Medusa shares in February 2022.
－ Transaction gave Medusa control of more than 4,200km2 of highly prospective ground in Queensland’s Drummond Basin. 
－ The management team acquired with the asset package are highly experienced and have a proven track record of cost-effective exploration and mine development in the Drummond Basin. 
－ More than 83% of the 1064 shareholders agreed to a voluntary escrow of shares in a vote of confidence in the new combination. 
－ Intensive exploration programs commenced in March 2022 involving soil sampling, geophysics and drilling.

Medusa secured a 100% interest in Ten Sixty Four Queensland Ltd’s 4,150 km2 exploration land package in the southern Drummond Basin region of Central Queensland. 
－ _The Drummond Basin assets include a pipeline of exploration targets that have been built and advanced by the 1064 team over the past five years. As part of the Transaction, 1064’s exploration team are now supporting the exploration program in the Drummond Basin in partnership with Medusa. 
－ Intrusion-Related Gold Systems have proven to be big and very valuable, bulk tonnage deposits. 
－ These deposits are typically undercover and require the application of geophysics and detailed soil analysis prior to drilling. _


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