MLS - Metals Australia

[rub92me]

Big volume for this stock means more than 80 million shares traded a day. That hasn't happened for a while. Everyone that is following this stock knows that there are announcements coming (aren't there always?). The Uranium stuff is too early to be meaningful, the rest is wait and see. So I'll wait. As long as it is not going down and not hitting my stop.

 

[gilbertw]

Big volume for this stock means more than 80 million shares traded a day. That hasn't happened for a while. Everyone that is following this stock knows that there are announcements coming (aren't there always?). The Uranium stuff is too early to be meaningful, the rest is wait and see. So I'll wait. As long as it is not going down and not hitting my stop.

I don't see 80 million traded in the last 5 days for MLS... could you elaborate on this please?
cheers

 

[sam76]

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.

We've been waiiting for what seems an eternity for this long awaited JORC upgrade.

Meanwhile the share price has tanked to the somewhat shaky support level of 6cents.

Is anyone else on this?

I jumped on last week as the upside seems to be huge, especially with some of those zinc grades.

 

[Gecko1]

I bought into MLS last October at 2.5 cents and am placing this stock in the bottom draw for the next few years....i'm just thinking of what Paladin Resources was a few years ago, and i like the MLS story and am not missing out this time...

 

[MiningGuru]

Share price has spiked a bit today, up .8c to 7c, and moved up a bit Friday.

Volume high today so far at around 8 million shares

What is going on?

Do insiders know something or is this just a recovery from the recent correction?

 

[wipz]

Good movement today, however I am really in the dark on this one.. Its great to recover some of my losses but would love to know what is going on. If anyone has any information please share

 

[greenfs]

You will see from the above chart that all is looking good with MACD and DMI indicators. It may be just that this share is recovering after the August correction with buyers outnumbering sellers.

 

[MiningGuru]

Announcement Out

Metals Australia Ltd (‘MLS’) is pleased to announce the following results from the Mile 72 uranium project:

· Geochemical sampling through the KUDU and IMPALA prospects continues to return high-grade uranium assays from the gypcrete and bedrock sampling, with the majority of the assays being ‘ore-grade’.

· Sampling at the KUDU prospect generated a number of high-grade assays of up to
0.315% U3O8.

· Alaskites sampled in the southern project are mineralised and indicate a larger primary mineralised system at depth.

Fantastic results. This share should start moving now!

 

[powerkoala]

does anyone still following this?
nice run on the news today.
trying to break 9.5c resistance.
now at 9.1c.
great uranium samples though.
will it break previous high ?
good luck all holders

 

[Gecko1]

Massive grades;closed 9.1c - nice - who said the PDN story could not happpen again. If management steers this one correctly, long-term holders should be very well rewarded.

Cheers to long-term holders

 

[adobee]

Strong increase today and a fair volume.. I was alerted to this as a potenial buy yesterday.. Now I am not sure if I should jump on with big things ahead or wait for a lower price again..

 

[vert]

this is not advice but i think if you can get on under 0.10 you would be fairly lucky, there is a possibility with what i believe are cappers holding this up @ 0.105 and 0.11, if they disappear then its going to run.

good luck

 

[jonojpsg]

These really are unbelievable results!!!

I can't recall seeing a result from other uranium hopefuls or producers at 23000ppm!!??

Can anyone else following U back that up??

 

[Agentm]

plenty of action still to come on this share imho..


been in and out of it a little.. just remember to look closely at SBR.. tightly held share (I know my exit wont be for some time to come there)

enjoy the rewards if you have held this one for a while..

 

[adobee]

Activity Report Out -

HIGHLIGHTS
MILE 72 NAMIBIA
· The first phase of geochemical and geophysical surveying has now been
completed at Mile 72.
· Trial pit sampling at the Kudu prospect at Mile 72 has resulted a number of
outstanding assays including:
M72 KDUP 001 5, 329 ppm (0.53%) Uranium Oxide
M72 KDUP 002 23,113 ppm (2.31%) Uranium Oxide
M72 KDUP 004 9,639 ppm (0.96%) Uranium Oxide
· Trenching has now commenced at Mile 72, testing the Kudu and Impala prospect
areas.
MANINDI ZINC PROJECT
· Geological modelling of the Zone A and B ore bodies shows a ‘multi-lode’
envelope with strong potential for additional resource tonnage in parallel positions
to the main lode.
· The second phase of diamond drilling at Zone A delineates significant near surface
zinc mineralisation including:
MND 049 16.90 m @ 11.82% Zinc, 0.61% Copper and 9.69 gpt Silver
from 24.00 metres.
· Modelling has identified the poorly explored Bandicoot prospect, to the south of
Zone A, as a priority drill target

 

[adobee]

20 million shares so far today and a strong increase.. I have been hearing suggestions that now is the time to get on MLS as there are big things coming.. Maybe other people have heard the same..

 

[ands]

This one has sure gone quiet, not the usual recovery up to the 7c mark after a fall in the market despite a 30% increase in the Manindi Zinc Project (now at 81,500 tonnes of zinc, 1,354,129 @ 6.03% Zinc). I guess patience is the key with this one!

 

[white monkey]

MLS up a lazy 130% at the moment on the back of a massive announcement! this is turning out to be a very good day!

 

[ands]

Yep, huge volume, nice price rise. Looks like buyers who might have been hesitant about the new Mile 72 Uranium Project are seeing potential in it from some nice results, early days yet, hopefully more to come.

 

[redback]

This stock has nearly lost all it's gains now, needs proper management not part timers, as the market has clearly discounted this lot who just can't get anything going, fancy taking 6 years to announce a piddly uneconomic jorc., these people are only there for easy wages, shift them out.