MHL - Monitor Energy
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can you explain the delay in formalising the hoa
who are they (as in '... they'll go to ...')
if it is mhl, why did they not just go to the bank in the first place, rather than seek jv (and cede up to 85% of project potential)
if it is medina, and its no problem, again why the delay
further, what do you know about medina and specifically their finances
and as the proposed jv as between medina and mhl is all about medina financing the project up to production (and particularly if you are unable to answer preceding question re medina and its finances) why is the current global credit crisis not relevant at all
and finally, whats a peace of cake
i repeat my disclaimer from previous post: have been wrong before
cheers
rapture2002ca
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I'm also getting a bit nervous at the moment. It sure is taking a long time to ann this JV deal.
I really hope it doesn't become another RAU where there is so much expectation but drops the ball on delivery.
Hope it works out for all holders.
I really hope it doesn't become another RAU where there is so much expectation but drops the ball on delivery.
Hope it works out for all holders.
1) Peace = Piece (we all make typo's)
2) "They" = Medina. Were not deal with WPL $5bn CAPEX (or whatever) LNG Pluto oil field. Lets be realistic. This would be one of Medina's smaller, easily financed deals. Look, real estate alone in Hong Kong's financial district would probably cost more then the deal in rent alone.
Jon is in Indonesia as we speak working on the deal and new leases. Its about to be done. Lets be real.
2) "They" = Medina. Were not deal with WPL $5bn CAPEX (or whatever) LNG Pluto oil field. Lets be realistic. This would be one of Medina's smaller, easily financed deals. Look, real estate alone in Hong Kong's financial district would probably cost more then the deal in rent alone.
Jon is in Indonesia as we speak working on the deal and new leases. Its about to be done. Lets be real.
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Some very interesting BUY depth popped up out of the blue today some 20 million plus 2 cents and below with some serious buys in the mix, bargain hunting maybe but with all the news that is over due now we are primmed for a run ATM IMO.
March could prove to be a very interesting month for all us very patient and loyal MHL holders.
BRING IT ON HEAD OFFICE we are a waiting for all your good work to be reported on
March could prove to be a very interesting month for all us very patient and loyal MHL holders.
BRING IT ON HEAD OFFICE we are a waiting for all your good work to be reported on
From the quarterly activities report ending 31dec 2007:
The results of a gravity survey will be announced in the near term once processing and interpretation has been completed.
Both parties are now working towards a more formal JV which is expected to be executed shortly.
Now, regarding the Leopard 50/50 jv for the uranium..:
Leaopard has informed the company that exploration for the reporting period involved surface geological mapping and radioactive surveys using their scintilometer and some trench and rock chip sampling of prospects within the licenses. Results of the work is being compiled and will be forwarded to the company in late February.
Drilling was supposed to start last quarter but bad weather stopped it. It is reviewing drilling options and the market will be advised when drilling commences.
Leopard has informed the company that exploration budgets and programs will be finalized by late February for the JV.. a JV meeting will be held when monitor received the work program and budget after which the company will announce details to the market.
This was all said in Dec 31. Its now march 5 and nothing...not a single announcement this year so far....... who knows what the hell is going on anymore.... you'd have to say as a shareholder, but much is happening!
The results of a gravity survey will be announced in the near term once processing and interpretation has been completed.
Both parties are now working towards a more formal JV which is expected to be executed shortly.
Now, regarding the Leopard 50/50 jv for the uranium..:
Leaopard has informed the company that exploration for the reporting period involved surface geological mapping and radioactive surveys using their scintilometer and some trench and rock chip sampling of prospects within the licenses. Results of the work is being compiled and will be forwarded to the company in late February.
Drilling was supposed to start last quarter but bad weather stopped it. It is reviewing drilling options and the market will be advised when drilling commences.
Leopard has informed the company that exploration budgets and programs will be finalized by late February for the JV.. a JV meeting will be held when monitor received the work program and budget after which the company will announce details to the market.
This was all said in Dec 31. Its now march 5 and nothing...not a single announcement this year so far....... who knows what the hell is going on anymore.... you'd have to say as a shareholder, but much is happening!
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Habs I share your frustration mate, believe me I do,
I'm still holding millions of these, but the company is cheap with a mkt cap of $10m-$12m and such Elephant Oil projects, its Kyrgz projects as I have siad are comparable to CIG, yet it also has Uranium projects like MRO and is looking to acquire near term oil and gas producing assets in South East Asia,
It really is a multi project company (2 for now with a 3rd on the way) and is just ridiculously cheap at these levels
I will continue to hold and wait for the re-rating to come
I'm still holding millions of these, but the company is cheap with a mkt cap of $10m-$12m and such Elephant Oil projects, its Kyrgz projects as I have siad are comparable to CIG, yet it also has Uranium projects like MRO and is looking to acquire near term oil and gas producing assets in South East Asia,
It really is a multi project company (2 for now with a 3rd on the way) and is just ridiculously cheap at these levels
I will continue to hold and wait for the re-rating to come
interest has seen a pick-up in vol today, one of those expected anns may indeed be imminent
cheers
poi (potentially of interest)
a reasonable amount of today's vol action, so far, occured between approx 1.30 and 2 (o'clock)
as noted on the cig thread, cig have gone into a trading halt, ann'd at approx 1.30
the trading halt relates to cig capital raising
(for those unaware, both cig and mhl have operations (separately) in the kygyrz)
cheers
a reasonable amount of today's vol action, so far, occured between approx 1.30 and 2 (o'clock)
as noted on the cig thread, cig have gone into a trading halt, ann'd at approx 1.30
the trading halt relates to cig capital raising
(for those unaware, both cig and mhl have operations (separately) in the kygyrz)
cheers
rapture2002ca
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Yeah, I don't like this at all. Could it be another director selling or just a panic?
Pending news is well overdue so it doesn't look to good.
Pending news is well overdue so it doesn't look to good.
I cant believe this, how depressing, its off like 70% from its highs around 6 cents and im off 45%....
What can you do but bottom draw now and hope they find oil or start selling some uranium!
Good learning experience I guess this stock, though an expensive one...I hope the directors who took other companies places start really working their butts off...
What can you do but bottom draw now and hope they find oil or start selling some uranium!
Good learning experience I guess this stock, though an expensive one...I hope the directors who took other companies places start really working their butts off...
rapture2002ca
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Another hammering for MHL today. I can't believe it either. It's broken it's 2c historical support.
I think there is some growing concern about the JV they have been working as it's now 2.5 months overdue to the market.
I'm down 60% on this stock but trying to stay positive. It's starting to look like a dog.
I think there is some growing concern about the JV they have been working as it's now 2.5 months overdue to the market.
I'm down 60% on this stock but trying to stay positive. It's starting to look like a dog.
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I suspect some investors sold down today due what was contained in the Interim Financial Report.
There is added risk due to raising additional funds for MHL to meet its ongoing financial commitments.
However, after reading the report, it appears MHL are confident that they will be able to raise funds through the likes of previous methods ...
such as :Announcement 2/10/2007 : Monitor Raising $0.5M for Exploration Funding in Private Placement -
"Monitor Energy Ltd (ASX: “MHL”), is pleased to advise that Far East Capital Limited (“FEC”) has agreed to manage a placement to raise $500,000 via the issue of 25 million shares at 2 ¢ each. The placement is being made pursuant to ASX Listing Rule 7.1, and will be made to sophisticated investors pursuant to S.708A (5) of the Corporations Act (‘the Act”), whereby there will be no disclosure document required under Part 6D of the Act."
In the current market turmoil, and with MHL as at 31/12/2007 having a Net Loss after Tax of $691,540, I guess some investors have factored in this risk, and decided to bail out.
In my opinion, the companies with the best prospects/potential will still be able to raise capital no matter what the market conditions are.
Yes, it may take longer to achieve but life goes on. Fear will start to evaporate once companies fully disclose their exposure and losses to the world. This credit fiasco will eventually work itself out, and the cycle will start again in some form or another. Be it another six months or even a couple of years ... 
recognising current market conditions are not overly conducive to green screens,
quite possibly rapture,
from friday's half yearly rep,
reading between the lines may be best left to professional soothsayers
however, mhl is obviously trying to speed up/complete the jv formalisation, so the question is why is funky cold medina apparently not presently obliging (and further that is the only nod toward the jv by the co in the ann)
the jv formalisation is now almost 3 months overdue (from an expected late dec 07 completion date [from 26/11/07 ann]) - exactly how long does medina need to independently review ('revue') the documents
as one of the terms of the hoa was medina coughing up the readies for all management and admin costs in the kygryz from 01/01/08, who is currently paying for these costs (minor point)
mhl only had approx $1M in the bank as at 31/12/07
are medina trying to squeeze out a better deal
are they having second thoughts
are they having financing problems
all questions that have gone unanswered in an e-mail to mhl
although in their app 5B for dec 07 qtr they (mhl) estimated cash outflows of $120K this qtr, was this predicated on mysterious medina coughing up the readies
in the 6 months to dec 07 they expended just under $1M
they must contribute 50% of costs in the leopard jv
not to mention costs associated with purchases of new leases elsewhere (ann expected on these in the near future, possibly - they may be being 'expedited' as we post)
all is not lost, from the rep, mhl
and this in spite of the independent auditors report including a para headed
its just not a good time for delays in the jv to be ongoing (investors seek certainty, even more so speccie investors)
ignoring all but the best-case scenario in the current market environment is at best risky, possibly too much so in light of the risk attached to speccies in 'normal' market conditions
luck to all holders re the jv formalisation and future equity raisings and potential new lease anns
just fonting aloud
cheers
quite possibly rapture,
from friday's half yearly rep,
reading between the lines may be best left to professional soothsayers
however, mhl is obviously trying to speed up/complete the jv formalisation, so the question is why is funky cold medina apparently not presently obliging (and further that is the only nod toward the jv by the co in the ann)
the jv formalisation is now almost 3 months overdue (from an expected late dec 07 completion date [from 26/11/07 ann]) - exactly how long does medina need to independently review ('revue') the documents
as one of the terms of the hoa was medina coughing up the readies for all management and admin costs in the kygryz from 01/01/08, who is currently paying for these costs (minor point)
mhl only had approx $1M in the bank as at 31/12/07
are medina trying to squeeze out a better deal
are they having second thoughts
are they having financing problems
all questions that have gone unanswered in an e-mail to mhl
although in their app 5B for dec 07 qtr they (mhl) estimated cash outflows of $120K this qtr, was this predicated on mysterious medina coughing up the readies
in the 6 months to dec 07 they expended just under $1M
they must contribute 50% of costs in the leopard jv
not to mention costs associated with purchases of new leases elsewhere (ann expected on these in the near future, possibly - they may be being 'expedited' as we post)
all is not lost, from the rep, mhl
and this in spite of the independent auditors report including a para headed
its just not a good time for delays in the jv to be ongoing (investors seek certainty, even more so speccie investors)
ignoring all but the best-case scenario in the current market environment is at best risky, possibly too much so in light of the risk attached to speccies in 'normal' market conditions
luck to all holders re the jv formalisation and future equity raisings and potential new lease anns
just fonting aloud
cheers
Another hammering for MHL today. I can't believe it either. It's broken it's 2c historical support.
I think there is some growing concern about the JV they have been working as it's now 2.5 months overdue to the market.
I'm down 60% on this stock but trying to stay positive. It's starting to look like a dog.
I never ever blame the dog itself its the owners that should be shot time & time again bad management drive prices down because of lack of information
cheers laurie
rapture2002ca
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Some great points there Happytown, the management certainly need a lesson in shareholder PR.
I really believe in the prospects and fundamentals of MHL but seriously wish we weren't dealing with this tinpot Medina. I wish it was Santos or Woodside.
I really believe in the prospects and fundamentals of MHL but seriously wish we weren't dealing with this tinpot Medina. I wish it was Santos or Woodside.
rapture,
its unfortunate when a co's potential is not matched by its willingness to keep s/h's and potential s/h's regularly informed of significant steps forward in its growth
agree with your point re mhl prospects [read potential]
whether medina is indeed tinpot, it is disappointing that mhl has not chosen to 'pierce the veil', in an informative sense (to the market)
ie who are medina
the most info that mhl has released re medina is that it is
ok so the kyrgyz bit relates to the currently loveless mhl/medina tryst
as to the aust exploitation, has medina lodged the security payments ... anyone?
ie as medina has been presented, are they more than bluff and bluster
or are they canny private equity investors who are not about to formalise agreements or cough up the readies in the current global environ
if the mhl/medina jv fell apart what would it mean
mhl retains the leases [potential - described in some quarters as elephantine]
and retains the opportunity to improve on the 15% free-carried hoa
as the papuan delegate said to the us delegate at the recent bali global warming (not necessarily appropriate here, but what the) get-together - sign on the dotted line or 'get out of the way'
if there really is potential with the leases, surely a more legit jv partner can be found
like santos or woodside, or how about a us oil major
cheers
