MMN - Macmin Silver

[It's Snake Pliskin]

Does anyone hold this stock? IF so why and what is your strategy for holding?

They are a Silver miner.

 

[bvbfan]

Re: MMN

I don't hold MMN but have previously and have held MMNOA options which expired September
Now those options were going to provide quite a bit of the funding for developement as I understoood, so don't be surprized to see them do a capital raising soon
I doubt the options were underwritten by anyone

The company looks ok, but I don't have faith in management

 

[It's Snake Pliskin]

Re: MMN

I don't hold MMN but have previously and have held MMNOA options which expired September
Now those options were going to provide quite a bit of the funding for developement as I understoood, so don't be surprized to see them do a capital raising soon
I doubt the options were underwritten by anyone

The company looks ok, but I don't have faith in management

Thanks Bvbfan.

What's wrong with their management? You mentioned you have held them but don't now. Is there a major reason for that? I'm just trying to assess the company as mush as possible and opinions are beneficial.

Snake

 

[bvbfan]

Re: MMN

Main reason was with management, when will they deliver something to the shareholder? Other than themselves

I see better opportunities elsewhere, although with silver miners there really aren't many options in Oz

Most of my opinion of management were from views expressed by others which I've gradually led to believe with their actions.
I think the posts were on Hotcopper or maybe OzeStock

This could be a 2 bagger (ie around 30c) but when?
It was this price and higher only last year
I liked them when they were 6-7c and under 10c

 

[It's Snake Pliskin]

Re: MMN

Thanks for that.
What is the German connection to the company?
Snake

 

[bvbfan]

Re: MMN

I think they are just listed on the Berlin bourse (yahoo code mmn.be)

 

[TheAnalyst]

Re: MMN

Thanks Bvbfan.

What's wrong with their management? You mentioned you have held them but don't now. Is there a major reason for that? I'm just trying to assess the company as mush as possible and opinions are beneficial.

Snake

Hi Snake

I have been researching and watching this stock and i like it. I have particularly noticed that management has stated that it wont be worth mining the silver unless the price of silver reaches at $9 an ounce and over...just go thru their quarterly activities.

http://www.kitco.com/market/

Today i bought MMN and added them to my mining portfolio 1500 shares about $1000 as i noticed the candle charting patterns indicated that today was as good a day as any to buy in. MMN are not to far away from producing and have forecasted the price of silver to increase and this has led them to aggressively develop the mind they will be producing before June 2006.

The estimated amount of silver is 44,500,000 ounces and likely to be underestimated. The mining sector has entered a new phase of pricing and is now just starting to being priced as an asset class rather than the DCF's then to a NPV as this is the case the asset worth is 44,500,000 x $9 an ounce = $400,500,000 divided by the undiluted shares on issue $444,500,000/ SOH 406,863,237 = 0.98 cents per share eventual target as usually as each miner reaches each stage to full production the share price increases to reflect that.

It is no concern to me when directors sell some shares as they do need to get some pay just like every one else and doesnt seem to any deception around this sale.

Management so far has been spot on in forecasting the price of silver to rise and to continue and a little lesson from history here usually silver rises much more than gold during a gold price increase cycle.

I hope my analysis assists you I just wish that my request to certain others on some stocks would be as clear as this and not cop abuse.

 

[crackaton]

Good luck analyst. They have yet to prove they have an operating mine, and the process they intend using is experimental. No new about progress for some time is a worry. Hopefully someone will just buy this one outright and get the ball rolling, cause management just seem to sit on their hands.

 

[TheAnalyst]

Good luck analyst. They have yet to prove they have an operating mine, and the process they intend using is experimental. No new about progress for some time is a worry. Hopefully someone will just buy this one outright and get the ball rolling, cause management just seem to sit on their hands.

Do u know much about the process as i would like to know more?

 

[TheAnalyst]

The process does work and production begins this year

Top twenty Shareholders

Name

Quantity
% of Total
Holding

ANZ Nominees Limited <Cash Income A/C>
86,351,416
24.10

Bynoe Harbour Pearl Co Pty Ltd
6,111,333
1.71

McNeil Associates Pty Ltd <McNeil Super Fund A/C>
5,406,896
1.51

Junde Pty Ltd <O'Neill Hall Super Fund A/C>
4,022,500
1.12

Westpac Custodian Nominees Limited
3,405,152
.95

National Nominees Limited
3,340,401
.93

Forty Traders Limited
3,300,000
.92

Citicorp Nominees Pty Limited
2,875,316
.80

Miroma Investment Inc
2,535,000
.71

Mr Robert Cameron Galbraith
2,414,010
.67

Mrs Susan Faye Foster
2,409,000
.67

Mr Ian Priestley
2,063,063
.58

Mr Robert Donald McNeil
2,056,875
.57

Mr Colin Glanville Young
2,052,000
.57

HSBC Custody Nominees (Australia) Limited
1,934,500
.54

Reynolds (Nominees) Pty Limited
1,885,780
.53

Mr Glenn Royce Holmes & Mrs Lorraine Patricia Holmes <Glenraine Super Fund A/C>
1,750,000
.49

Malachite Resources NL
1,750,000
.49

Mrs Jane Elizabeth Cunningham
1,600,000
.45

Mrs Delmae Pearl Materne
1,537,500
.43

TOTAL
138,800,742

 

[crackaton]

Check their website out. www.macmin.com.au. I don't remember the name of the company that has been commisioned to do the processing plant.

The whole thing about this company is that the director has interest in PNG gold. MMN is just a side show.

Their last excuse for delayed developement of the mine was rain... well we are now well and truelly in the wet seasons.

Not long before they will be asking for more money.

Be careful, cause they have yet to prove they can actually get the stuff out of the ground and into a usable form..

 

[TheAnalyst]

Check their website out. www.macmin.com.au. I don't remember the name of the company that has been commisioned to do the processing plant.

The whole thing about this company is that the director has interest in PNG gold. MMN is just a side show.

Their last excuse for delayed developement of the mine was rain... well we are now well and truelly in the wet seasons.

Not long before they will be asking for more money.

Be careful, cause they have yet to prove they can actually get the stuff out of the ground and into a usable form..

i like your posts as and these highlights but i am still to come across that the process does not work...as they are already close to finishing the the construction. Can you please supply some evidence to back up what you are saying as ANZ are a major shareholder and would have investigated the process.

I can understand the rain and the hold ups as this is in their reports.

 

[crackaton]

I never said the process does not work. I said it may need fine tunning. Until they actually come up with the goods I'd be cautious. And even then will it be too late? POs and POg fluctuate widely and even a two year span is a long time to get something up and running. In my opinion they have been procrastinating about this. Silver is there, devlope now before silver rockets.
To me sounds like management/directors are covering their backsides for some reason, perhaps they just like sponging money or perhaps they have other financial obligations. My opinions only

 

[TheAnalyst]

I never said the process does not work. I said it may need fine tunning. Until they actually come up with the goods I'd be cautious. And even then will it be too late? POs and POg fluctuate widely and even a two year span is a long time to get something up and running. In my opinion they have been procrastinating about this. Silver is there, devlope now before silver rockets.
To me sounds like management/directors are covering their backsides for some reason, perhaps they just like sponging money or perhaps they have other financial obligations. My opinions only

I respect your opinions crackaton but i am suspicious of what you said as the process is known to work and they would not build it if it didnt and ANZ and a few other big names would not plant one cent into it if it didnt.

You have raised my suspicions even more as each time i challenge you you back down and you offer absolutely no evidence actually u offer the opposite that which has been disclosed.

I remember you attacked me and abused me on another thread so i hope you have not just jumped on to this thread that snake Piliskin started with a great question and i have thorougly researched with all the information that is available to the market and you have just started a lie just to start an argument. If you have i am quite sure if Joe investigates and finds that you have this will surely cause you to be suspended as this is serious behaviour to be involved in.

I hope not for your sake

 

[crackaton]

Please cite to me where and by whom this process has been used. I have tried researching this to no avail. And no i am not jumping on any band wagon or having a go at you or any other poster.

It is far easier to say something works rather than it doesn't.

If you do not wish to reply then thats fine.

 

[TheAnalyst]

Please cite to me where and by whom this process has been used. I have tried researching this to no avail. And no i am not jumping on any band wagon or having a go at you or any other poster.

It is far easier to say something works rather than it doesn't.

If you do not wish to reply then thats fine.

Their website for 1....they are nearly completed building it 2......there is no way or have i ever heard of anyone spending big bucks on something that has not been thoroughly tested and proven 3.....ANZ is their major shareholder and also Westpac custodians therefore very doubtful that their high paid geologist and engineers would sign and approve these banks from investing their money into something which does not work 4...MMN have stated they will begin to produce and sell in their qrtly activity reports and thts number 5


Now buddy spit it out or research before you come up with this stuff...and i am now very very suspicious of you and i think so will a few others...hope you are not involved in the destruction of a great thread because you want to make a fool of me.........

 

[crackaton]

Never heard of anyone spending money on a big project? lol

What about Australian Magnesium. That was a ripper. lol

Just quitely analyst, is it that time of the month or are you always like this?

Good night and have fun tommorrow.

 

[TheAnalyst]

Please cite to me where and by whom this process has been used. I have tried researching this to no avail. And no i am not jumping on any band wagon or having a go at you or any other poster.

It is far easier to say something works rather than it doesn't.

If you do not wish to reply then thats fine.

Just let u all know i have now received a personal message from crackaton stating that the negative comments on the MMN silver process was only an opinion not a researched fact....???????????

 

[Smurf1976]

POs and POg fluctuate widely and even a two year span is a long time to get something up and running. In my opinion they have been procrastinating about this. Silver is there, devlope now before silver rockets.

Two years is a VERY SHORT time span to get any major resource project up and running.

As for procrastination, so far it's seen the value of their resource double. This was reasonably predictable given the fundamentals of silver supply and demand. So in two years they gained 100% and delayed the spending of capital in the process. Not a bad result really.

Why would you "develop now before silver rockets"? Wouldn't it make sense to leave the metal whose price is rocketing in the ground and sell it WHEN the price is higher NOT BEFORE?

I don't hold this stock but I just don't follow your logic here. You seem to be saying that they ought to make cents now instead of $ tomorrow which doesn't make much sense to me. Or are you saying that you expect the silver price to collapse in the near future so there is some urgency about production?

 

[TheAnalyst]

Never heard of anyone spending money on a big project? lol

What about Australian Magnesium. That was a ripper. lol

Just quitely analyst, is it that time of the month or are you always like this?

Good night and have fun tommorrow.

ANOTHER ONE BITES THE DUST....... :goodnight