MLS - Metals Australia

[jancha]

Anyone following this company? Would like to kow why the sudden jump in volume without ay ann. Any thoughts on it?

 

[Horace]

They had some leases that were being contested in Namibia for U, not sure if someone knows something that hasn't been released to the market, should be close to some sort of resolution or some announcment soon.

 

[ems]

What are peoples views on this one at the moment? With the outcome of the tenement court case in Nambia coming soon..could this be on the up?

 

[Horace]

I would like to think that an outcome favourable to MLS would see some adjustment up on the SP, a lot of time wasted here and not much to read about with MLS, needs good news soon!!

 

[travwj]

MLS up 1c today or about 25%. Volume was up as well. No news has been released so it is hard to understand why such a price rise. But there will be no complaints here. See how it opens on Monday i think the next resistance will be at 5c and hoping to get support a 4c... see how this turns out.

Trav

 

[travwj]

Whats going on with this stock...closed at 0.025 today. if anyone could have a reason for it having such a quick slide down from the highs of 0.044 a couple of weeks a go to where it is now please inform me. Still waiting to here what happened what has happened with the court procedings.

Any help or news much appreciated.

Trav

 

[buzz05]

Trading halt pending an announcement next week.

No doubt there will be some news regarding the leases in Namibia, hopefully some good news as this has been dragging on for a while now.

 

[ands]

Ann out not good for holders:

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The Namibian High Court has now handed down its judgment in relation to the claim by the vendor for the return of Metals Australia’s Exploration Prospecting Licences 3306 and 3308.

Judgment has been issued in favour of the vendor of the tenements.

The Board of Metals has a number of concerns with the judgment, and has sought and received further legal advice that there are strong grounds for an appeal of the judgment.

Accordingly, an appeal has now been lodged in the Namibian Supreme Court against the judgment. An appeal automatically suspends the operation of the judgment pending the outcome of the appeal, and, as such, the Minister of Mines and Energy is thereby prohibited from transferring the tenements back to the vendor pending the outcome of the appeal.

Metals will keep the market informed as the appeal proceeds.

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How do you spend years drilling a tenement, only to lose it when the owner of the land wants it back? Is the legal system over there corrupt? Could the owner be a friend of the judge? Or has Metals Australia just not taken the correct process to ensure this problem wouldn't arise? Other companies exploring over there will have to start looking over this shoulder for this problem. If this guy can get away with it, I'm sure others can. This might be setting a precedent for the future. Out of trading halt tomorrow, SP will suffer...

 

[Datsun Disguise]

oh boy - country risk eventuated..... The only hope here is that the appeals court judge doesn't belong to the same gentlemens club that the High Court judge does - but given that this is the high court that is hardly likely!! Best outcome would be the decision is overturned, good outcome is the conditions of the sale are renegotiated, worst is MLS gets shut out completely.... gulp.

Criminal that this can happen and in the long run it only hurts the entire country, not that these well connected fat cats give a flying fat rats left testicle about the rest of the country, they all stand to profit richly and so that is enough.

 

[qeegbill]

oh boy - country risk eventuated..... The only hope here is that the appeals court judge doesn't belong to the same gentlemens club that the High Court judge does - but given that this is the high court that is hardly likely!! Best outcome would be the decision is overturned, good outcome is the conditions of the sale are renegotiated, worst is MLS gets shut out completely.... gulp.

Criminal that this can happen and in the long run it only hurts the entire country, not that these well connected fat cats give a flying fat rats left testicle about the rest of the country, they all stand to profit richly and so that is enough.

Looks like the case has now been won by MLS. The Supreme Court upheld the appeal. The former owner of the EPL's Amukutuwa 's solicitor Kasuto has since lodged a "Notice of Irregularity" in which it seems he attempted to bring to the attention of the Chief Justice that the court process was flawed. Metals Australia's Advocate described the notice as a "nullility" i.e. meaningless. My understanding is that the Supreme Court ruling is final. (see "The Namibian" 10.11.2010,etc). Perhaps all doubts will be resolved this week.

I am a MLS holder

 

[qeegbill]

There isn't any interest in MLS on this forum. They deserve another look. They have begun exploring on their Mile 72 tennement for uranium. Trenching revealled high grade secondary mineralisation (calcrete) and high grade primary mineralisation (alaskites). The latter was up to 12 m at over 1000 ppm. The Radon XTM cup technique measures a daughter product of uranium decay. The readings can only be generated by the radioactive decay of uranium. The announcement 29.11.2011 included the following summary of RadonXTM results:
"Table 1 РComparison of RadonXTM radon cup survey results at Mile 72 and Husab (R̦ssing South)
Mile 72 Husab (formerly Rössing South)
Survey parameters
No. samples
1,114 ~470
Cup spacing
100 m 50 - 100 m
Line spacing
300 m 250 m
Survey area
31.5 km² ~9 km²
Results
Maximum value
42,935 RnV 5,735 RnV
Minimum value
18.1 RnV 314 RnV
Median value
2,362 RnV 1,600 RnV

RnV = Radon Value, which represents counts of 222Rn recorded during the course of the survey.

Comparison of the Mile 72 RadonXTM survey results to those from Husab (Table 1) shows that the anomalies at Mile 72 are larger and more intense than those at Husab."

The RadonXTM results are indicative of mineralisation down to 100m.

ANY THOUGHTS?

I am a mls shareholder

 

[frugal.rock]

There isn't any interest in MLS on this forum. They deserve another look.

A real popping festering canker yesterday based off a lithium/rubidium announcement then straight into a trading halt this morning for a cap raise.

Not sure if it's worth a further look, 2.5 cents in 2009.
Time will tell. Haven't looked at FA side.

 

[frugal.rock]

Misfiled this one... It's now in the 2nd lithium watchlist as the first one is fool...
Can someone please shoot me? ?

 

[greggles]

MLS still going great guns today, but has pulled back a little bit after making a run at 20c. It has clearly been re-rated this month, but does anyone have any idea as to what fair value might be? Is the market getting ahead of itself, or could it still be undervalued at current prices?

 

[greggles]

I was right that MLS was getting ahead of itself early last month. The share price ended up collapsing back to 8c in the following two weeks. Disappointing for shareholders.

But some good news today.

68m at 3.09% zinc including 24m at 6.47% zinc isn't anything to sneeze at. Some silver in there too. Looks like there is more zinc at the Kultarr Zince Prospect. Outstanding results overall.

Lithium results can't be far away. Think MLS will back heading back towards 20c soon.

 

[frugal.rock]

I slapped a bit at this today...

Why?
Because I got a signal.