MLS - Metals Australia

[rub92me]

Yep, it's looking like a day traders' frenzy today. I hope the volume keeps up with a nice close around this level. As pointed out before: awful lot of shares floating around so plenty of churn before this will get past 12 cents. Oh well, up already so time's on our side..

 

[rub92me]

Looks like daytraders went for a long lunch and never came back Reasonable close though, so not all bad. Another 40 million shares churned above 10 cents, which will help provide some resistance around that level.

 

[Craze0123]

A single buyer with 2m shares at 10.5 really late...something must be going down soon ;D, hopefully tomorrow is the day.

 

[Craze0123]

wow, I have absolutely no idea what is going on with this stock. I have been watching some of the other similar ones and none are doing anything like this....totally confused ;D.

 

[zt3000]

wow, I have absolutely no idea what is going on with this stock. I have been watching some of the other similar ones and none are doing anything like this....totally confused ;D.

Mee too

This stock just needs to grow some balls so to speak and just run ..... eagerly awaiting next uranium announcement. SP went ballistic after last one

 

[Craze0123]

new announcement just went up,

Extensive Radiometric Anomaly at Engo Valley Namibia

EXTENSIVE RADIOMETRIC ANOMALY AT THE ENGO VALLEY
URANIUM PROJECT, KAOKELAND, NAMIBIA.
HIGHLIGHTS
· Work has commenced on the Engo Valley, Metals Australia’s second uranium
project in Namibia.
· Airborne radiometric traverses of the Engo Valley palaeochannel have defined
significant anomalism associated with Karoo sediments.
· A 14 square kilometre radiometric anomaly, with a strike length of over 7
kilometres, has been identified at Engo Valley.
· This extensive radiometric anomaly warrants further exploration.
Metals Australia Ltd (‘Metals’) is pleased to announce that a review and interpretation of the exploration
data for its second uranium project in Namibia, Engo Valley (100% MLS), has highlighted a significant
radiometric anomaly within the Engo Valley palaeochannel. The source of this data was a radiometric
survey flown by General Mining & Finance Corporation Ltd (‘Gencor’) in the 1970’s.
The Engo Valley project, which has had little or no exploration in the last 30 years, shows strong potential

 

[Lachlan6]

(MLS) looks fine from a technical perspective. Just consolidating now around a crucial level of support around $0.095. This should provide a nice level of support and a platform for a challenge of breaking into new highs. Interestingly, this level also coincides with an important fibonacci level from the March lows to May high. Volume is not big at the moment due to this consolidation, but if new highs are hit, I have a feeling this will run much higher.

 

[MiningGuru]

Wow! Announcement just out.

11km of Uranium in Namibia. Fantastic news!

Once this gets digested this share, IMO will churn through all the sellers and reach new highs very soon. I think it will blast through resisatance levels and get uo to 15c+ very soon.

The U and the Zn deposits are very encouraging.

 

[Wysiwyg]

Wow! Announcement just out.

11km of Uranium in Namibia. Fantastic news!

Once this gets digested this share, IMO will churn through all the sellers and reach new highs very soon. I think it will blast through resisatance levels and get uo to 15c+ very soon.

The U and the Zn deposits are very encouraging.

Not in , love watching the standoffs between the hardcore sellers and the bulls.Funny how each stock has it`s own personality.Sell for less I reckon , lol.

 

[sleeper88]

Not in , love watching the standoffs between the hardcore sellers and the bulls.Funny how each stock has it`s own personality.Sell for less I reckon , lol.

Its a good annoucement, but to really get a move on, they need to start drilling its U prospects, which could still be a long time away. Its funny how impressive zinc results have no effect on this stock, and U count readings send this one back to 10c. I think we're looking at a substantial upgrade in the resource of the minidi zinc project, and early cashflow from this project will really get the U exploration program going. Those sellers from 10.5 to 12c are blocking my road to riches!!

 

[Royce]

MLS has had 3 good announcements in the last month and the share price has remained stagnant... a lot of volume required to break the wall of sellers
lined up at 10.5 and 11 cents.

Its going to have to be a huge announcement.

Royce

 

[chris1983]

I'm onboard. This stock has a lot of reasons which told me to buy it. They will be working on an upgraded resource. See below.

"Metals Australia Ltd (‘Metals’) is pleased to announce that a comprehensive diamond drilling programme at Manindi is now complete. The diamond drilling programme was designed to test the extensions of the existing resources and allow an upgraded resource to be calculated."

That is a section from the last announcement "Manindi Zinc Project Continues to Exceed Expectations"

Now from the BBY broker report on the 25th of January 2007.

Recent drilling of EM targets has been very successful which is forecast to lead to an upgrade in the resource base which currently sits at 1.05Mt @ 7.64% Zn. Resources lie within 4 zones of mineralisation to a maximum depth of only 200 metres. Considerable scope exists to find additional resources along strike and depth as confirmed by downhole EM studies which indicate the presence of further mineralisation at depth.

Now from the latest announcement in regards to their Zinc project

"RESOURCE MODELLING
The current Manindi Zinc deposits represent a substantial zinc resource, with excellent potential for increases in both tonnage and grade. The previous owners of the project last calculated the resource in 2000. Metals Australia has since completed in excess of 7500 metres of RC and Diamond drilling, which has yet to be included in the resource calculations. The drilling undertaken by Metals has increased the physical size of the resources, both along strike and at depth. The recent drilling has frequently intersected high-grade zinc mineralisation in each of the deposits, which have additionally shown ore grade copper and gold mineralisation."

How big will this resource be? It has been extended along the strike and at depth. The past resource also didn't include copper and gold mineralisation. The resource upgrade will be big IMO. If you go through past announcements they have had significant hits when expanding this resource. Now that the drilling campaign is over..it is time for me to take an entry with a longer term view. I have held MLS previously but traded them for profits.

A good comparison is JML and their Jaguar deposit. See Jaguar deposit resource below.

Reserve 1.6mt @ 3.1% Cu, 11.7% Zn, 0.72% Pb, 120g/t Ag

Now The Jaguar deposit is an underground mine. This will be a lot more expensive to operate that the operation that would take place at MLS's Manindi project. Their project will be open cut and will have cheaper operating costs. Jabiru now has a market cap of 620 million. Yes they are closer to bringing on a mine but MLS is leading down the same track..it is just at an earlier stage. MLS is looking to be a very attractive buy atm.

When you throw in their uranium prospects in Namibia...where they have recently defined 11km of uuranium mineralisation at its Mile 72 project in Namibia they are a good spec play to me with a market cap of just under 60 million. See breakdown of shares on issue below.

MLS: 669,608,765
MLSOA: 106,150,000

Fully diluted market cap is just over 69 million and to the end of march in their last cashflow report they had just under 6 million at bank.

 

[ands]

She certainly jumped on Thursday, anyone know when the next drilling results are coming out? I can't believe it is stuck at 9 cents, that zinc project is looking better all the time and the early Uranium results from Africa look very promising. Patience will be the key.

 

[powerkoala]

does anyone follow this?
5 minutes before closing, this sp jump from 8.9c to 9.4c....
big buyers seems to know something...
close high now at 9.7c....
must be something happenning tomorrow...
any thought?

 

[Horace]

Double digit % gains on 25M volumes last week and again today on 10M volumes, someone is buying, good to see potential progress with MLS

 

[Caliente]

hhaha, before you guys get too excited don't forget the great wall of MLS - as you well know it will take buying of epic proportions to break through it.

- I hold.

 

[idaho]

This appeared to be a planned lightning raid from about 3:50 pm. It required less volume than most previous spikes to make these gains. The selling has been steady since about june 6 in spite of some good announcements. A lot of stale holders have exited.They are due for ann. regarding zinc assays. Last assay results announced included some gold intersections. Historical drill cores had apparently not been assayed for gold. They are also expected to update the market re their two uranium prospects in Namimbia "any time". I think part of the "great wall of MLS" has tumbled down during recent sell-off. It's rubble is now forming part of the foundation that will allow in-coming buyers to overcome the resistance and move the share price to new heights. I took a small profit on one third of holding on way down. Held rest through sell-off (which i partly credit to general sell-off of U stocks). My opinion is the office cleaner bought today. Glad I'm holding.

 

[Wysiwyg]

If an announcement/report/update or the like comes out tomorrow (wednesday)it will prove that some people are privvy to information before the general public.Lets see.

 

[Horace]

I think that is a given, no announcement today volumes still almost 14M, annnouncement soon???

 

[ands]

Are people simply speculating or are there some people who know more then everyone else? After the strong drilling results last month and more due in the near future, there might be some from both sides.