AUL - AuStar Gold

[mick2006]

Looks like the article in the telegraph this morning is starting to stir a bit more interest in MNM.

It is undervalued on its massive coal assets on its own, but when you throw in the blue sky phosphate potential and tight share register, it wouldn't surprise to see it run much higher from these levels.

 

[Fed23]

Looks like the article in the telegraph this morning is starting to stir a bit more interest in MNM.

Any chance you can post this? I've been watching this company since it had the intial sky rocket at 14c.

 

[tigerboi]

I personally think that this nearology crap is just that.

It just reminds me of FDL we're near FMG so our share price goes up. Now MNM is near MAK so push the share price up.

No results yet big gains.

Mick thanks for the heads up on STB, it does look interesting and will do some research on it

Im with you fed on this...what about this classic from the anns.desktop!!

never mind any nearology they aint even set foot on the ground yet.!!

yep trendsetters its here now...desktop exploration...just dont get caught when the music stops...(re:the INP punter at $1.97)

 

[cuttlefish]

The coal is the value - CRA estimated 500 million tonnes of it at Mt Mulligan and MNM has 87.5% ownership of Mt Mulligan. Compare MNM market cap to other coal companies with similar resources. (and do some sums on steaming coal at $100+/tonne).

 

[mick2006]

There is no doubting MNM has great longer term potential with coal/phosphate two of the hotest sectors going at the moment, but today had the feeling of a short term exhaustion to me.

There maybe a short consolidation period before MNM start fieldwork next month, and then buying interest will surge again.

I took a bit off the table today and shifted some into NDO,PRE (awaiting the results of a massive gas well), but I will be looking to add more MNM on any pullback.

 

[adamim1]

Surprised no one has mentioned anything about this stock for a while considering it is up 19% today. Does anyone know the reason. Nothing has been released today...

 

[Fed23]

Surprised no one has mentioned anything about this stock for a while considering it is up 19% today. Does anyone know the reason. Nothing has been released today...

Dont forget that to mention it was up 18% on friday.

I personally think its just a trade stock. any time that it gets into the mid 20cents the following day it will leap up 15% back to early 30s. All this big jumps of the back of no news aswell doesnt make sense

 

[countryboy]

I took recent spikes to be phosphate and coal related...but yep no announcements to support this view. Im holding until we get some news on coal. Energy stocks will remain positive while ever petrol requires you to mortage your house to fill your car

 

[countryboy]

Jumped at one stage 20% to a new high of 0.485 today on a strong volume of 4 million shares. Sitting at 0.465. Early June and plenty of action this month. Well positioned to take advantage of a positive announcement.

DYOR

 

[adamim1]

Here we go. Looks like a breakout.


Shes up to .53. I am kicking myself. I held these at .16c and sold at .21

 

[Sean K]

Here we go. Looks like a breakout.

Shes up to .53. I am kicking myself. I held these at .16c and sold at .21

Sounds like a good profit to me adam ( I assume adam) It's always hard to watch something run away after selling, but part of the game. It'll happen again! Or you could check your tactics with selling. Some people like to just sell a few and let profits run. Others get completely out and find the next undervalued gem. Whatever the case, for the moment, you made a great profit!

 

[alankew]

Adam wise words from Kennas.I bought the options at 3.5c and sold 1/3 for near enough all the money they owed me so now am almost free carried.Gives you a more relaxed view of whats happening.Something that i picked up from YT and others on here

 

[ALFguy]

Certainly one to keep an eye on this month, hence why I've picked for the June comp.

1. Expected to announce access agreement and release scoping study for Mt Mulligan (est 500mt Therm Coal) during June.

2. Ongoing desktop studies of the 4 large Barkly Phosphate Tenements (Georgina Basin), with fieldwork commencing June. Already indicated potential to contain significant deposits of phosphate with a tenement size far larger than MAK.

Simply focusing on the coal deposit, their market cap is small compare to their piers. Still early days of course, but the potential is there. MD has his head screwed on and the experience to advance this project.

Price has retraced today, but looks like technicals more than anything.

 

[ronaldo]

mnm reached new highs today, i expect in anticipation of news over the next two weeks.

this is a stock with all the right ingredients: right sector, right materials, right backers. plenty of gains still to come too, well deserved of a massive rerating

 

[ALFguy]

Very Significant announcement out today. The MD is quite capable of making this project work.

ASX Release
19 June 2008

- Mantle Acquires Outstanding 12.5% of Mt Mulligan
- Consolidates Coal & CBM Tenements to 100%
- Progresses Positive Access Negotiations
- Targets Clean Energy Development

Mantle Mining Corporation Limited (ASX: MNM) is pleased to advise that it’s 100% owned Subsidiary, Trafford Coal, has entered into an agreement with Calcifer Industrial Minerals Pty Ltd (Calcifer) to acquire the outstanding 12.5% of the Mt Mulligan (Ngarrabullgan) coal and coal seam methane (CSM) tenements that it does not already hold, thereby consolidating ownership to 100%.

As part of the transaction Mantle will also acquire 100% of the share capital of Mt Mulligan Coal Pty Ltd, beneficial owner of Calcifer’s 12.5% stake in Mt Mulligan.

This acquisition provides the Company significantly enhanced capability to bring forward its plans to grow a substantial energy company.

Total consideration payable by Mantle is $125,000 cash, issue of 631,579 fully paid ordinary shares in Mantle and 1.35 million options with an exercise price of 25c and expiry dates of 12, 24 and 36 months from completion of the acquisition (450,000 options of each stream).

The Company has also progressed work on results of a Scoping Study commissioned late in 2007. The scoping study and an initial review of site access requirements noted the major areas of further work required to be:

• Requirements of modern Native Title rights,
• Assessment of seam consistency and yield, and
• Capital costs for bulk coal transportation and development options.

Mantle has approached discussions with the Traditional Custodians of Ngarrabullgan (Mt Mulligan), the Djungen People, towards equitable and sensitive exploration and development of the natural resources within the tenements.

This approach contemplates working in complete and equitable consultation with the Traditional Custodians on such aspects as:

• Cultural Heritage awareness and site access,
• Indigenous training & sustainable employment, and
• Resource development to significant mutual benefit.

Mantle will now proceed to finalise the very positive discussions that have been progressed with the Traditional Custodians. These discussions have now proceeded to the point of exchanging a draft Indigenous Land Use Agreement (ILUA).

Mantle has also focussed on early development options designed to best capture the current upsides from low impact, low capital and low emission energy production.

This focus is to progress first to coal seam gas development targeting:

• Modern corporate social responsibility approaches,
• Low emission environmentally friendly energy development, and
• Low capital cost infrastructure to bring upgraded energy to market.

Further developments will be released to the market in parallel with progress for the ILUA as they are closely aligned.

 

[countryboy]

read the announcement ,ticked another box and closed the screen had a look after close and the SP is sitting back at 43c ????

if this is the price at open i will find the $$$ to but some more. did something happen that i missed ?

 

[ALFguy]

read the announcement ,ticked another box and closed the screen had a look after close and the SP is sitting back at 43c ????

if this is the price at open i will find the $$$ to but some more. did something happen that i missed ?

I think the market wanted a signed access agreement or could be because they only mentioned CSM. Still, you have to think the selling today was an overreaction by short term traders. Just look at the gap between the first seller at 43 and the next seller at 47.

 

[ronaldo]

speaking of gaps, looks like that might be the end of the (slightly overzealous) retrace. here's hoping the next leg up is fortified by some nice phosphate announcement, just to remind punters of this companies many virtues.

 

[alankew]

Two anns out today,first concerning their gold prospects but dont seem that spectacular,second ann would explain recent weakness in SP apart from the DOW and rapid rise.Much more positive ann with mention of CSG and also 25 Phospahte targets



Company Update - Chimaera Overhang, Phosphate and Coal Exploration.

Chimaera Overhang Cleared
The Board of Mantle Mining Corporation Limited (ASX:MNM) has become aware that the market may have been reacting to a recent overhang of its shares on the market, due to the exposure of a number of Mantle shareholders to Chimaera Financial Group. Mantle advises that none of it’s Directors were exposed to the Chimaera situation and is now pleased to advise that with the assistance of its Corporate Advisor, Cygnet Capital, this overhang has now been cleared. The Board is unaware of any further exposure to Chimaera Financial.

Phosphate Exploration Update
Mantle would also like to advise that the desktop study in relation to exploration of its Phosphate tenements in the Northern Territory (EL’s 26018, 26019, 26020 & 26021) has just been completed with over 25 high priority targets for field reconnaissance having been generated. Preparations have commenced for an initial field exploration visit in August. An initial drilling programme will be drawn up on prioritised targets and pending regulatory approvals, the programme should commence before the end of the calendar year.

Coal and Coal Bed Methane Exploration Update
Finally, Mantle would like to advise that access discussions with the traditional custodians, the Djungen People, of Mt Mulligan (EPC 772 and ATP 718P) continue to progress extremely well. The parties have reached agreement in principal and the full Indigenous Land Use Agreement (ILUA) is being drafted. Mantle and the Djungen People have begun planning for cultural heritage site clearances and initial targeted exploration activities. Early exploration activity will be focussed on generating targets for drilling to confirm the gas drainage potential of the area whilst defining the overall coal resource base.

 

[PP123]

Is there anything in the pipeline to believe these shares will get back up to the former glory days of $0.50+ or was it just a hype run, and these are the true value of these shares? I bought @$0.40 and its just been sliding since.