MLS - Metals Australia

[CanOz]

Well, I don't see major resistance at 10 cents. I see some resistance at 9 cents (tested twice) and some resistance at 10 cents (tested once). Would be nice if it can break past 9 cents today for starters..

All time highs are always major resistance, look at the volume too, imagine how many weaker hands are there, waiting to sell and break even.

Cheers,

 

[ongchuan]

Yahooo...significant cooper has been identified!!! Let's wait to see it fly today!

 

[nizar]

All time highs are always major resistance, look at the volume too, imagine how many weaker hands are there, waiting to sell and break even.

Cheers,

Agree with Can.
Every spec always has trouble getting past 10c because its at that point the ticks go to 0.5c increments, a big jump from 0.01c increments.

PEN, WMT, BLR, MLS, AUZ just about any spec i can think of that started from 2-5c had trouble at 10c.

MLS is no different.

I would expect it to test it a few times before breaking. And it may even go to 10.5-11 but then go back down again. Like PEN recently.

What iv seen is that it needs to break it confortable, ie. go to maybe 12.5-13.5, and then pull back to 10-10.5 before its off again. We saw this with WMT, BLR, and APG.

 

[rub92me]

All time highs are always major resistance, look at the volume too, imagine how many weaker hands are there, waiting to sell and break even.

Cheers,

I see your point, but wouldn't that depend on how many shares were actually traded at or above 10 cents during that day. Maybe out of that volume less than 10% traded in that range (some anxious punters expecting it to break)?

 

[ongchuan]

SIGNIFICANT COPPER MINERALISATION AT THE
MANINDI ZINC PROJECT.
HIGHLIGHTS
· Drilling has intersected a significant zone of near surface copper-zinc
mineralisation associated with the Mulgara (Zone B) gossan.
· Drill hole MND 003 at Mulgara (Zone B) was sampled with a result of:
4.9m @ 3.95% Copper, 1.89% Zinc & 23 gpt Silver from 5.7 metres.
· Significant additional sulphide mineralisation has been recognised in both the
footwall and hanging wall positions of the existing resources, and at depth.
Metals Australia Ltd (‘Metals’) is pleased to announce that prior to the commencement of its
current drilling programme at Manindi, a comprehensive review of the historical drilling and
geological modeling was undertaken. This review resulted in the sampling of a number of drill
holes, with significant results.

 

[Ken]

Massive insider trading I reckon on this one....

Massive volume price rise then announcement is it anymore clear cut?

 

[ongchuan]

What's wrong with this MLS? Good announcement but the SP is going in reverse gear.....

 

[Techbuy]

What's wrong with this MLS? Good announcement but the SP is going in reverse gear.....

Resource sector is weak overall with only a few bucking the weakness.
Like NIA up 8.5cents on the day so far (has topped out at 73c before dropping back to 70c)

MLS is now $0.004 down on the day, guess the news was not enough to get over the general weakness.

 

[Ken]

I think the news was factored into its latest run. No doubt there will be more to come and the potential is there.

The fundamentals of the company dont come into the way everyone plays the market, if you were a betting person you'd have chips on the table at this stage I would say....

 

[Ken]

Are we looking at production from MLS in the short term?

How far off are they? How is the risk/reward factor with them? Has anyone calculated the potential to the their share price?

Has a very similar feel about them to EXT, a lot of volume traded.

I like their prospects.

Who are the substantial holders? and how many shares on issue?

 

[rub92me]

Well, I don't see major resistance at 10 cents. I see some resistance at 9 cents (tested twice) and some resistance at 10 cents (tested once). Would be nice if it can break past 9 cents today for starters..

Looks like the market has decided that the real resistance was at 8 cents. Go figure. So much for my technical skills :

 

[Sean K]

Looks like the market has decided that the real resistance was at 8 cents. Go figure. So much for my technical skills :

Yes, resistance around 8 ish. It's rarely exact. Now has some established 8.3 ish. There will be some at 9 and 10 as you say.

The chart looks pretty bullish to me still. If the Stochastics was going up through 50 then I'd be happier. I normally wait for all these things to align for a chart trade.

It's up for argument where the 'breakout' is on this. Could be both green circles, but making a higher high will confirm it to me. That'll be at the blue circle perhaps. Although, perhaps the higher green circle is a higher high? That's where it breaks the downtrend line as well.

So, perhaps it's broken out already.

 

[MiningGuru]

Announcement Out!

Additional Zinc at Manindi

 

[Agentm]

The first phase of drilling at Mulgara (Zone B) and Kowari (Zone D Sth) has now also been completed, with assays pending. Metals Australia looks forward to announcing the results of the drilling at Mulgara (Zone B), when they have been received and evaluated.


nice!!​

 

[newo]

Announcement out re. 30% free carry at Sherlock from ARH. ARH report is an interesting read. Also see Agentm post 18th April.

 

[Agentm]

PROGRESS OF EXPLORATION ON THE SHERLOCK BAY
EXTENDED PROJECT AREA.
HIGHLIGHTS

• Sherlock Bay Extended is composed of granted E 47/1227 and applications ELA 47/1769-1770, which cover an area of more than 470 km² and surround the main Sherlock Bay nickel project area.

• Soil sampling has been completed over a number of anomalies on EL 47/1227, with results currently being evaluated.

The Sherlock Bay Extended project is composed of a granted Exploration Licence (E 47/1227) and two Exploration Licence Applications (ELA 47/1769 and ELA 47/1770) which cover an area of more than 470 km² and surround the main Sherlock Bay nickel project area. The project is a joint venture between the Australasian Resources Ltd (70% interest) and Metals Australia Ltd (30% interest). Australasian Resources are the managers of the project, with Metals Australia being ’free-carried’ through to the completion of a bankable feasibility study and the decision to commence commercial mining.

Australasian Resources Ltd, as the project managers, were recently advised that Mining Act objections lodged by Ngarluma Aboriginal Corporation over E47/1769 and E47/1770 were withdrawn in April 2007. This allows the tenements to be advertised under the Native Title Act, which entails a further 4 month notice period. Australasian Resources Ltd is therefore expecting that these tenements will be granted during the second half of 2007.
An initial programme of soil sampling on tenement E47/1227 was completed in January 2007 in order to test a number of anomalies identified by Metals Australia Ltd and other previous explorers. A total of seven geophysical targets occur within the Sherlock Bay Extended Project area and require testing. Assay results from the soil sampling programme are currently being analysed by Australasian Resources which will assist with the planning of future exploration work on the tenement.

Yours faithfully,
Norman Grafton
Company Secretary
Metals Australia Ltd

the land title objections are now withdrawn.
i am looking forward to the results of the tests done in january..

 

[resourceboom]

What do people think of the quarterly report, it doesn't seem overly interesting to me, still more news to come shortly??

 

[zaskar]

Apologies I'm at work and can't post a chart.... mls seems to me a bit cheap. in the last 3 months, 6 of the 7 big volume days have all been positive, and the recent decline in price is on very little volume.

 

[ongchuan]

It never break the 9 cent resistance. Too bad. Good future but the SP is so XXXXXX.....is it heavily undervalued company or is something wrong with it?

 

[ongchuan]

What are we waiting for now? The SP starts to move upwards again today. Looks strong on the buyer side. But there are 5M queuing up around 0.082. Any chance of breaking this resistance and move forwards to 10 cent region?