LAF - Lafayette Mining

[Bohaty]

The fact is they have not caused heavy pollution. A proven fact.

I smell Greenpeace lobby brownie points here and I believe they will get government support or the Phillipines can kiss development by overseas companies goodbye and there economy along with it.

I place LAF at 90% chance of getting through this. Money talks.

Well said hangseng. The government know that if they kiss Laf goodbye then they can forget about opening their doors to any other companies waiting in line to mine in the Philippines. And they know that those accusations against Laf are not true but as always minority groups such as greenpeace like to stir the pot, and they have willing ingredients, being the vulnerable locals. They believe their hierarchy 100% despite Laf trying hard to win their support.
It just keeps the vibe surrounding Laf negative :-(
Time will tell but for share holders (and laf itself) it does get frustrating waiting for this story to turn around for the better

 

[Bohaty]

This just in....
Lafayette Philippines has accused anti-mining groups of what it described as irresponsible and misguided advocacy that is actually anti-poor and economically destructive.

Looks like Lafayette is finally standing up to Greenpeace and letting them know that these anti-mining groups are just trying to do their jobs, and thats closing down mining companies and sending villagers back to the stone ages.
And its true, bad publicity isn't what Laf needs right now.

http://www.abs-cbnnews.com/storypage.aspx?StoryId=81299

 

[hangseng]

This just in....
Lafayette Philippines has accused anti-mining groups of what it described as irresponsible and misguided advocacy that is actually anti-poor and economically destructive.

Looks like Lafayette is finally standing up to Greenpeace and letting them know that these anti-mining groups are just trying to do their jobs, and thats closing down mining companies and sending villagers back to the stone ages.
And its true, bad publicity isn't what Laf needs right now.

http://www.abs-cbnnews.com/storypage.aspx?StoryId=81299

Good on them, they really are fighters aren't they. I give them lots of brownie points indeed. They have had everything except the kitchen sink thrown at them and they still soldier on regardless.

 

[mickqld]

Not looking too good here. I am worried that their debt levels are going to become unmanageable. Only hold a small parcel in this one but methinks it might be time to bail.

 

[Bohaty]

Totally agree mickqld with your statement.
The noose is tightening slowly because as soon as they seem to be up on
their feet something else seems to stab them in the back. Money spent
after the typhoon rebuilding, on government payments, making villagers happy makes you wonder, how deep is their wallet and patience?

 

[ta2693]

how far could laf slide down? 4c, 3c, 2c, 1c?
Anyone here want to guess the result.
I have a small position at around 6c and I am hurt.
I bet on 4 c based on the momentum (huge vol today).

 

[moneymajix]

5.2c, up 13%+

ANN.
Rapu Rapu Update

Rapu Rapu Project Update
On Thursday, 21 June 2007, Lafayette Mining Limited (Lafayette) announced that a number of
process circuit improvements had been implemented at the Rapu Rapu polymetallic project and
that additional initiatives were planned to be implemented over the next few months.
Lafayette is pleased to announce that formal bank credit committee approvals have been
obtained for the provision of funds to finance these initiatives, as progressively approved by our
project bank group.
As foreshadowed in our recent announcement, we are also pleased to announce that formal
credit committee approvals have been obtained from our project banks to assist Group
companies to fund the cost of closing out maturing base metal forward sale contracts in early
July. The expected close out cost on those contracts remains at approximately $15.5 million.
Precious metal forward sale contracts are in the process of being rolled on a historic rate basis
to September 2007, pending a final restructure of the precious metal forward sale program under
steady-state conditions.

 

[ExPrEsS82]

What do u guys think of this stock? Do you think it will regain at all??? or will it just keep slipping like it has the last couple of weeks????

 

[ta2693]

It is very bad, 4c. I think the cascade is formed, hardly to predict how far it going to drop. ppl will only realize the value of this share and weak up one by one.

 

[junmonkey]

Things are finally looking up for LAF, based on their recent quarterly report. Production is up, shipments are out, drills with encouraging mineralisation. Finally, a somewhat positive report from this company.

 

[CDG]

The fabulous streak of bad luck that this company has enjoyed couldn’t go on forever, surely… Did one of their trucks drive over a black cat?

The substantial holding that LST has is reassuring but it’s certainly been scraping the bottom of the barrel lately. Good volume today.
Fingers crossed now that's the worst over (there was decent support @ 4c) so maybe it can get up & sit on 5c for a while & regain some self esteem.

LAF? I nearly did.

 

[lazyfish]

Hi guys,

I got some questions and hopefully someone will help. I noticed this stock is near 52 week low and that got my attention.

From the latest quarterly report, receipts from product sales and related debtors year to date showing 13,547,000, but production costs is 18,498,000, what could have caused this? Minerals not being sold?

This quarter they have spent 5,814,000, leaving 4,337,000 in cash. Would the cash flow (assuming increased productions) from next quarter be enough to cover the expenses?

Cheers and thanks in advance.

 

[nioka]

Some fairly heavy selling today has caused a fall of 15% in the SP. In an announcement today "LAF receives financial support from major stakeholders, whilst pursuing major financial restructure." They will have to come up with some good results soon to maintain any interest in their shares.

 

[bromham]

Good news yesterday about shipments going out and insurance claim being honoured. I also agree with previous sentiment about the government supporting foreign investment. Co seems to be dealing effectively with the environmental lobby.
I'm in....

 

[golfmos123]

Trading halt today, resuming trade on Tuesday or when the announcement comes out. From the release it looks like a reshuffle of debt with some third parties which might also provide some security going forward. Can only be good news for the SP. I received LAF as a hot tip just a week or so ago from a friend who has a reasonable track record at picking short term risers, so maybe he's got another one right here???

Shame I didn't stake more (maybe).....

 

[nioka]

LAF suspended from trading for failure to lodge returns on time. May be just a hiccup but could be serious. Certainly not good news.

 

[lee_m]

Debt free but highly diluted................
I assume todays announcements are not great news for shareholders?
Anyones views on this would be appreciated.
(my first post..for what its worth)

 

[nioka]

Debt free but highly diluted................
I assume todays announcements are not great news for shareholders?
Anyones views on this would be appreciated.
(my first post..for what its worth)

Not good news. We have an explanation as to why the financials were not released on time causing the suspension. It is hard to estimate the SP at opening tomorrow as there are no quotes because the suspension won't be lifted until trading commences tomorrow. This is still a highly speculative stock and I doubt if it will recover quickly.

 

[nioka]

It's hard to put a value on LAF shares. The restructure conditions are complicated to say the least. Assuming all conditions are met then current holders will be offered a 1:1 at .02c. Prior to commencement of trading there was a large sell at .025 which was withdrawn at the last moment. I had an order in at .025 which was filled. That has brought my average down to around .04 and with a 1:1 at .02 I will hold at .03. I will hold at that and see what happens. Getting rid of the hedge book could help this struggling company and if they have a reasonable run from here on they could turn out OK. Still speculative.

 

[golfmos123]

Thanks Nioka,

How wrong one can be. As per last post, received LAF as a good tip and immediately pear shaped. I must admit, after reading through the announcements, I kind of agree with you. My strategy will be to hold through to the new rights issue (assuming there is an underwriter prior to end of Oct) and use the new shares to average down. Hopefully an exit point will be closer to appearing. I still think that the Rapu Rapu enterprise is better than average, but the SP has taken a hammering and it will take some really good news before any major recovery now I'd guess.