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MOY - Millenium Minerals

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lucifuge

lucifuge

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Previously named Wedgetail mining, Millenium Minerals has two main focuses; gold and molybdenum. Upon reading reports on operations on their main site;

http://www.millenniumminerals.com.au/operations.html

They have found that the surface geochemistry of the molybdenum project to be above the world class Spinifex Ridge which is a Moly Mines venture. MOL being currently about $3.40, MOY is approx 7c. There are no doubt significant differences between the companies, but is this one worth considering? Thoughts? I understand molybdenum prices are meant to be on the rise.
 
Not much info on this stock outside the announcements,,,some research to be done! Has caught my interest because of it neighbour. I really should have studied geology at school as the ann takes three or four reads to get your head around 25% of what they are saying.

To dump (for $5 mill plus) their gold assest would be a strong indicator they believe they are onto something. Next three months they will do RC drilling and diamond drilling...all we need is a size of the resource a guesstimate will do me?
 
Great detective work countryboy ...NOT

Found the WTE Wedgetail mining thread, MOYs old name. Lots of disgruntled punters with this stock. A careful look at the directors required and their history. I may hang onto my money ...due dilligence! I think we call it before I invest.;)
 
If they have sold the gold assets, then surely there are better placed Moly companies than MOY.

From what I remember when I looked at WTE a while back, it didn't really stand up.

Better tonnages, amount of contain Mo in other Moly plays surely?
 
Well I have been watching this company for quite some time now from when they were Wedgetail (WTE) and now Millenium Minerals (MOY). The Millenium Moly anomaly discovered by the company is already being compared with the World-Class Spinifex Ridge Moly Mines (MOL) deposit which is also located in the same region.
I believe this stock is a bargain with a fully diluted market cap of only $19 million at present. The tempation was too much today as I don't want to miss the boat on this one and bought in. Its only a matter of time before the market takes note of this one and i will be waiting patiently!!! :D
Please DYOR and read up on the potential of MOY before investing :eek:
 
LRF (resource fund) have invested in MOY, not sure as to what extent.. but they must see some kind of real potential if thats any assurance to any1..
iduno im a noob!
 
Has anybody else noticed how buyers have been steadily building over recent days even though market sentiment has been down. On a poor day today MOY gained 15% and buy:sell ratio is still in the order of 3 fold.
Maybe the market is realising the potential size of the moly resource that MOY might have and with a market cap of under $18 M. Anybody else have any other thoughts? :D
 
Hey PAul are you still in this....Ive been casting an eye over it, but only just discovered it and havent had a decent look yet....seems good value, but io need to dig a bit deeper...
 
condog said:
Hey PAul are you still in this....Ive been casting an eye over it, but only just discovered it and havent had a decent look yet....seems good value, but io need to dig a bit deeper...
Click to expand...

Hi Condog ...... nooooo not on this one at present ...... last time i did ok on it though ..... still on my watch list though .... although haven't been watching it real close. They had a big molydenum deposit but seem to have switched focus back onto the gold projects due to better commodity price of gold i guess.
 
MOY

Hi all just would ask some questions about MOY mellinium metals, i see they are are trying to raise another 25 million to build a gold mine (if i am correct) i have looked at there gold grades on web sight looks promising,But at 75,000,000 for the mine to be built from my experience on building gold mine's as a contractor,would mean that the mine will be from an ex plant finished production
Has anybody followed these shares as i am very interested
Des
 
Has been on my watch list for awhile now and took up a position at 12.5 cents. Now 40.5 cents.

Jumped over 20% today so thought it was worth running past others. No debts and good grades about to be produced. On the way the gold price is heading and investors seeking exposure can only see this continuing its run.

However volume (some big buys today) would suggest some news coming, speeding ticket too I'd say.
 
Millenium Minerals has been moving higher over the last few weeks, increasing from 16c to 21c. It appears to have broken through resistance at 20c, so the question is can it consolidate and stay above that level?

Recent drilling results from the Golden Gate Mining Centre at the company's Nullagine Gold Project have been encouraging and follow-up drilling programs aimed at establishing JORC Maiden Mineral Resources are planned.

big.chart-MOY.gif
 
greggles said:
Millenium Minerals has been moving higher over the last few weeks, increasing from 16c to 21c. It appears to have broken through resistance at 20c, so the question is can it consolidate and stay above that level?

Recent drilling results from the Golden Gate Mining Centre at the company's Nullagine Gold Project have been encouraging and follow-up drilling programs aimed at establishing JORC Maiden Mineral Resources are planned.

View attachment 87799
Click to expand...
Agree Greggles but currently its being affected by lower gold sentiment in my view. International trade disputes and politics are playing a big role in this. I'm thinking gold may now be on the oversold side as a result but we'll see.

MOY is a well run producer with no debt so any change in pm's sentiment to the upside will see it rise from here IMHO


big.chart
 
Out of interest just noticed that both the gold price and MOY were at a bottom together on the 3rd and now rising in tandem. And just look at SBM go.

The way the world financial climate is at the moment I believe gold and gold stocks are well worth putting the ruler over.

But just my view of course so DYOR

big.chart
 
As discussed above, MOY has some rich veins of gold and there are indications that these will extend much more as they progress.

The company has experienced leadership, no debt and remind me of the position NST were in some years back when their share price was 40 cents, now $7.30 However this is my take so DYOR.

In the meantime the MOY price is fluctuating fairly near to the gold price and the general sentiment towards gold which is very much at the bottom rung atm.

However in the following chart (showing a good picture of the lows over the last 12 months) says to me the bottom is close if not in. A report due soon on the last quarter for MOY should indicate an increase in production. A rise in gold (the Aussie gold price is near it's all time high by the way) should see a good increase in this share price.


fut_chart.png
 
Good progress being made by Millenium in line with overall plan and projections.

"31st July 2018 2018 Interim Ore Reserve Statement Millennium delivers 38% interim increase in Ore Reserves at Nullagine to 304,700oz Aggressive exploration commitment and expansion strategy paying strong dividends with upgraded Reserve providing visibility to 3-year mine life  Millennium’s aggressive exploration strategy at the Nullagine Gold Project continues to deliver outstanding results, resulting in an interim increase in Ore Reserves to 304,700oz:  6.0Mt at 1.6g/t Au for 304,700oz of contained gold  This represents a 38% increase in Ore Reserves since 31 December 2017 (221,600oz), net of mining depletion of 38,000oz  Average Ore Reserve grade remains constant at 1.6g/t  Delivers mine life visibility of three years, based on Millennium’s targeted annual production rate of 100kozpa, which is on-track to be achieved in the December 2018 Quarter" 

http://resourcesrisingstars.com.au/sites/default/files/MOY_310718_Ore_Reserve.pdf
 
Further to my last post MOY has begun to move up and obviously due to its production news last week.

The gold price appears at its longer term bottom and feel investors are starting to feel this also. I use that word as sentiment has a huge effect on initial market moves. I'm personally a fundamentalist but the vibe and position of a stock on its chart can be a killer if not followed in my view.

The recent move in MOY:-

big.chart
 

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