Australian (ASX) Stock Market Forum

MON - Monarch Gold Mining

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Now jp morgan chase have increased there holdings and first gold pour in July it should be an interesting couple of months coming up.:)
 
Yes, but they have increased their holdings at a price much lower than the share price effectively diluting everyone elses holdings. I wish MON would stop going back to the market all the time for more money and get on with it. I want to see some gold poured.
 
Did anyone else get their 1 for 4 non renouncable share entitlement application form in time?
I got mine yesterday (Thursday 7th June) and it closed today (Fri 8th)!
I had half an hour to read it and post off a cheque before I missed the post.
Hopefully they got it today. At least I get 5000 shares at the placement price the big boys got their 28 million shares at.

Still, if everyone takes up the offer, and why wouldn't you with the sp in the mid 30's, there's going to be an extra 78 million shares on issue to go with the extra 28m last month, and the 14m in the Feb SPP, bringing the total to 391m plus 35m options.

Let's hope they can find some more gold resources so they can deliver on their objective to be a 500,000 ozpa producer one day.
 
Hey Riles ,
Don't worry about the close time for acceptance of the share offer.I got mine in plenty of time to mail back by deadline. But I notice an announcement on ASX to the effect that,due to an oversight on Chess' part,Monarch have extended it to the 14th( I think).

Cheers Ya'll:)
 
This one has been quiet for a while anyone have any idea when we can see some news on production I though we where mining in June for July production though everything has been very quiet.
 
I have been wondering about the lack of news lately ..was also expecting an update on the Gold pour by end of month.

Only clue I can give is that perhaps Michael Kiernen has taken his eye off the ball while he stoushes with Gilbertson over Cons Min..

I have held these for 4 months now ...All I can say is watch the POG! And wait patiently.
 
Does anyone think there was much in the way of positive news in the production update they released today? The SP certainly didn't do much.
 
Finally some positive news they are now officially a producer. I am surprised that this stock is not attracting any more positive news from anyone. For my money the stock is only heading one way now and thats up. So far management has delivered on its promises and they have a very good strategy in building on what they already have. Should also have a positive EPS now which can only be a good thing for the bank account.
 
Here is an excerpt from the lates ann. today..

Yes they are keeping there promises!

MONARCH LAUNCHES SIGNIFICANT EXPLORATION PROGRAM
Monarch Gold Mining Company (ASX/DIXF: MON) has almost doubled its exploration programme on its Goldfields tenements, committing more than $11 million for drilling programmes during the 2008 financial year.
The major exploration program follows extremely promising results from drilling over the past three months, and will focus on the company’s Davyhurst, Mt Ida, Bellevue and Minjar projects, along with a new exploration work at the recently acquired Riverina Project.
Monarch Executive Chairman Michael Kiernan said the drilling would expand the company’s resource base and create long term value for Monarch shareholders.
“We have reached the milestone of the first gold pour at Davyhurst delivering on our commitment to shareholders. Longer term, it’s imperative to continue to deliver increased value through exploration success and maximise Monarch’s dominant landholding in the Goldfields region,” Mr Kiernan said.
“We have in place a well funded exploration program on regions where there are identified targets to extend our resource base.”
 
This share is heading north with positive drill results from MT IDA .For all the gold bugs this one looks good with production in full swing and $11 million to be spent on exploration in 2008 you would expect a rerating before christmas.Been in this stock for a couple of months and hoping for a good return shortly:)
 
THis has to be the dodgiest share around at present. Gold at an all time high yet this share is languishing. Something fishy going on and I don;t like the smell:eek:
 
googly said:
THis has to be the dodgiest share around at present. Gold at an all time high yet this share is languishing. Something fishy going on and I don;t like the smell:eek:
Click to expand...


I disagree.

True other gold producers are going up but MON is a new producer and still at low volume - give it some time to ramp up production. I know its frustrating seeing it slip down in price some days - my small holding is under water too, but I have faith in big MK. I also hold TTY and have confidence in that company also because of M. Keirnan.

I don't think you should say things like "something fishy going on...." because it is negative and also alludes to the fact that you may know something others don't.

Come clean if you do.

WDW
 
you have confidence in M Kiernan??!!! What have you been smoking dude??! Seriously I think you need to reassess people you have confidence in
 
googly said:
you have confidence in M Kiernan??!!! What have you been smoking dude??! Seriously I think you need to reassess people you have confidence in
Click to expand...

Yeah, I do.

So far my assessment of him as left me well in profit with the stocks he is involved with. If you look at another one of his companies TTY you'll see that just over 2 yrs ago they didnt have any proven resources and now they're shipping ore. That gives me confidence and seems to have given it to the market as well.

M. Kiernan also took CSM from a 200,000 tonne to a million tonne manganese producer and billion dollar company.

I think that he is building a platform for the future with MON, TTY, and the holding in MAL, (tried with CSM).

Noble Group seem to have confidence in him and thats good enough for me.

So......I'll ask you again. Whats so fishy?
 
Googly, Some people used to say the moon was made of green cheese.

They had no more idea of what they were talking about than you.

If this isn't blatant down ramping I don't understand the meaning of the term.Try not to repeat rumours and inuendo here...it scares the horses ;)

Cheers Ya'll
 
They need too start too turn things around very quickly before confidence in this share really dwindles.
Hopefully the poor quarterly will give them the impetus too really concentrate on MON and start too deliver
 
They have really disappointed me. I got into this share over a year ago and with gold at an all time high price I would have thought this would be 40-50 cents by now.

On another forum some people are saying this is about to do a BMO. Now I don't know much about BMO but what I do know is that they no longer trade on the stock exchange.
 
So much doom and gloom posted on MON recently in this forum. I'm still backing that MON have some good quality mines that will show results in the future, just a matter of waiting and waiting and maybe waiting some more.
 
I too am holding MON hoping for better days.

Any predictions on where this stock is heading in the next few months?
 
googly, why don't you just sell at a loss.Go away and lick your wounds in PRIVATE.
Surest way to see the SP go down further is to spread panic. I don't think that any thinking person on this forum really cares what "other forum members" think.

C'mon ..rise up from your panic ..don't bleed in public..so bad to see that ;)
 

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