MMI - Metro Mining
- Thread starter laurie
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springhill
Make the drill work for YOU
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Re: MTE - Metrocoal
Share price - 28c
Shares on Issue - 209m
Market Cap - $58.5m
Cash on hand - $15m (Excludes funds available in SinoCoal Joint Venture.)
Substantial Shareholders
Metallica Minerals Limited 30.8%
DADI Eng. Dev. Group 19.6%
Mathews Capital 16.3%
•Total Resource of 3.8 billion tonnes
Inferred - 3,512.8Mt
Indicated - 270.7Mt
Bundi
•Resource –1.56 billion tonnes
•Mineability –suited to longwall mining,
•Saleability –high quality thermal coal,
•Minimum impact on the surface
•Rail –capacity on proposed Surat Basin Rail
•Port –MetroCoal has priority capacity allocation at proposed 3TL coal terminal
Bundi: Longwall Mining
•Shallow Depth 100m –250m
•Continuous mining seam
•Mining height 2.7m to 3.6m
•Higher yield than opencast miners in the Surat Basin
•$23.45 per tonne at the pit head
Bundi – Attractive Coal Quality
• Specific Energy GAR +6000 kcal/kg
• Low ash, low sulphur, low phosphorous.
• Washability data for mining section shows
• High yield – 75% to 85%
• Clear cut point 1.55 – no near gravity material
SinoCoal –MetroCoal Columboola Joint Venture
•Joint Venture with SinoCoal Resources on EPC 1165 Columboola (SC 51% -MTE 49%).
•Sino Coal investing $30M
•Targeting down dip extensions of Cameby Downs mine.
•Inferred resource of 1,297Mt. Substantial increases expected.
•Mining target area identified.
•Progressing to next stage –EIS, concept studies etc.
Share price - 28c
Shares on Issue - 209m
Market Cap - $58.5m
Cash on hand - $15m (Excludes funds available in SinoCoal Joint Venture.)
Substantial Shareholders
Metallica Minerals Limited 30.8%
DADI Eng. Dev. Group 19.6%
Mathews Capital 16.3%
•Total Resource of 3.8 billion tonnes
Inferred - 3,512.8Mt
Indicated - 270.7Mt
Bundi
•Resource –1.56 billion tonnes
•Mineability –suited to longwall mining,
•Saleability –high quality thermal coal,
•Minimum impact on the surface
•Rail –capacity on proposed Surat Basin Rail
•Port –MetroCoal has priority capacity allocation at proposed 3TL coal terminal
Bundi: Longwall Mining
•Shallow Depth 100m –250m
•Continuous mining seam
•Mining height 2.7m to 3.6m
•Higher yield than opencast miners in the Surat Basin
•$23.45 per tonne at the pit head
Bundi – Attractive Coal Quality
• Specific Energy GAR +6000 kcal/kg
• Low ash, low sulphur, low phosphorous.
• Washability data for mining section shows
• High yield – 75% to 85%
• Clear cut point 1.55 – no near gravity material
SinoCoal –MetroCoal Columboola Joint Venture
•Joint Venture with SinoCoal Resources on EPC 1165 Columboola (SC 51% -MTE 49%).
•Sino Coal investing $30M
•Targeting down dip extensions of Cameby Downs mine.
•Inferred resource of 1,297Mt. Substantial increases expected.
•Mining target area identified.
•Progressing to next stage –EIS, concept studies etc.
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On December 8th, 2014, Metrocoal Limited (MTE) changed its name and ASX code to Metro Mining Limited (MMI).
greggles
I'll be back!
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I just posted about MMI in The bottom is in! thread but seeing as the MMI thread hasn't been updated in almost seven years (other than a change of name update) I thought I should probably post in here too.
Metro Mining owns and operates the Bauxite Hills bauxite mine in Cape York, Queensland.
They have been mining for around 12 months and production has been ramping up with 2019 production expected to be ~3.5 million wet metric tonnes. From 2021 production is expected to level out at ~6 million wet metric tonnes. Mine life is estimated at 17 years.
Ramp-up margins have been solid despite weather disruptions and lower AUD/higher bunker fuel prices that have increased freight costs. Significant cost reductions have been identified and are expected to be realised in 2019 and beyond.
The MMI share price has halved in the last 12 months but a solid base looks to have formed at 13c. Volume has been increasing each day for the last three days and today has seen the share price tick up from 13.5c to 15c.
So is the bottom in? Hard to say for sure, but the worst does seem to be over and with production ramping up and the bauxite price currently at US$51 DMT (up from US$45 12 months ago), things are certainly looking a bit brighter for MMI.
Just a brief overview for those interested.
Metro Mining owns and operates the Bauxite Hills bauxite mine in Cape York, Queensland.
They have been mining for around 12 months and production has been ramping up with 2019 production expected to be ~3.5 million wet metric tonnes. From 2021 production is expected to level out at ~6 million wet metric tonnes. Mine life is estimated at 17 years.
Ramp-up margins have been solid despite weather disruptions and lower AUD/higher bunker fuel prices that have increased freight costs. Significant cost reductions have been identified and are expected to be realised in 2019 and beyond.
The MMI share price has halved in the last 12 months but a solid base looks to have formed at 13c. Volume has been increasing each day for the last three days and today has seen the share price tick up from 13.5c to 15c.
So is the bottom in? Hard to say for sure, but the worst does seem to be over and with production ramping up and the bauxite price currently at US$51 DMT (up from US$45 12 months ago), things are certainly looking a bit brighter for MMI.
Just a brief overview for those interested.
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Dart thrown for February tipping competition to this mining company, MMI. gained momentum earlier in Jan and hoping for the revisit of buyers in Feb
greggles
I'll be back!
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MMI making some share price gains following the release of their presentation to Shaw's Investor Conference on 8 February. The investment thesis does seem a compelling one and the company does appear to be undervalued.
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MMI is going south but Shaw Wallace is constantly barracking for it. Could some of the followers please throw light.
Dona Ferentes
A little bit OC⚡DC
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seems to be making a go of it. Turn around stories can be good, as long as they can scale up and throw off cash
About Bauxite and Metro Mining
Bauxite is the ore used to make aluminium, a critical and strong growth metal in the energy transition. Metro Mining is an independent bauxite producer and explorer, with its 100% owned Bauxite Hills Mine operating on the Weipa bauxite plateau approximately 95km north of Weipa, near the coast on the Skardon River. Metro Mining produces a high alumina bauxite, shipping direct to customers in very large ore carriers. Metro Mining recognises and has productive agreements with the Traditional Owners of the land on which it operates and is proud of its high percentage of indigenous employees and the economic impact it has in Cape York and Far North Queensland.
Significant Progress on Turnaround Achieved
• 34% increase in 2023 shipments to a company record of 4.6 million WMT
• 33% increase in 2023 revenue with only a 6% increase in cost of sales
• Underlying EBITDA improved by $43.3 million to $18.5 million
• Operating cash inflows of $12.3 million
• Production and shipment guidance for 2024 set at 6.3 to 6.8 million WMT
About Bauxite and Metro Mining
Bauxite is the ore used to make aluminium, a critical and strong growth metal in the energy transition. Metro Mining is an independent bauxite producer and explorer, with its 100% owned Bauxite Hills Mine operating on the Weipa bauxite plateau approximately 95km north of Weipa, near the coast on the Skardon River. Metro Mining produces a high alumina bauxite, shipping direct to customers in very large ore carriers. Metro Mining recognises and has productive agreements with the Traditional Owners of the land on which it operates and is proud of its high percentage of indigenous employees and the economic impact it has in Cape York and Far North Queensland.
Significant Progress on Turnaround Achieved
• 34% increase in 2023 shipments to a company record of 4.6 million WMT
• 33% increase in 2023 revenue with only a 6% increase in cost of sales
• Underlying EBITDA improved by $43.3 million to $18.5 million
• Operating cash inflows of $12.3 million
• Production and shipment guidance for 2024 set at 6.3 to 6.8 million WMT
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Thanks @Dona Ferentes
Weipa has Rio's famous bauxite mines ( Miner was fortunate to live and work there) and untouched areas ex Alcan.
Yes, Metro's economy of scale could challenge them to make money with a hope of a take over in 5 years or so depending on demand. Current signs from Alcoa suggest immediate future of aluminium is not a bed of roses.
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MMI is under TH and CR.
That explains price rise for last few days.
That explains price rise for last few days.
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MMI trade is lifted. 4.1 cents capital raise. Only $4 million for current holders and balance $36 M already raised. My reading (hope correct this time) that Instos will not let the price to drop down and most of the shareholders will aim to sell their houses to get full allocation of $30,000 (??) . Post CR only one the XR price went down to 4.1 cents but now consistent at 4.2. The market capital will be increased once full CR is executed - more mobility and faster process.
I happened to be working in the Bauxite mines at Weipa as a Rio Tinto person back in 2003 (looks like last year )) . The massive bauxite with few meters digging is unbelievable to fetch a very low mining cost (Weipa days - advance gardening was the teasing for mining colleagues)
The negative or positive as you see it, the CR is basically to pay off loans with equity - nothing else ? To reduce OPEX and looks nice for take over by Rio with the Alcan days massive shallow bauzite pit?
Do your own research. I do have a small holding and debating on CR. If any one wants to loan me to fulfil my allocated CR quota in a legal way will be happy to know.
potential
I happened to be working in the Bauxite mines at Weipa as a Rio Tinto person back in 2003 (looks like last year
)) . The massive bauxite with few meters digging is unbelievable to fetch a very low mining cost (Weipa days - advance gardening was the teasing for mining colleagues)The negative or positive as you see it, the CR is basically to pay off loans with equity - nothing else ? To reduce OPEX and looks nice for take over by Rio with the Alcan days massive shallow bauzite pit?
Do your own research. I do have a small holding and debating on CR. If any one wants to loan me to fulfil my allocated CR quota
in a legal way will be happy to know. potential
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However, I am puzzled that a major shareholder Nebari sold out its 1% holding as soon as the CR was raised at the same price, 0.041. Do they expect to buy and re-enter at a lower price after the CR?
Dona Ferentes
A little bit OC⚡DC
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around $0.05 now
Operational Update
KEY HIGHLIGHTS
• New monthly record achieved in September 2024, with 780,000 WMT shipped to customers,representing an 8% increase from August
• Quarterly shipment record of 2.13 million WMT, following 1.50 million WMT in H1 2024.
Operational Update
KEY HIGHLIGHTS
• New monthly record achieved in September 2024, with 780,000 WMT shipped to customers,representing an 8% increase from August
• Quarterly shipment record of 2.13 million WMT, following 1.50 million WMT in H1 2024.
