Australian (ASX) Stock Market Forum

MOY - Millenium Minerals

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Well the news out in my last post had little effect. It's clear that market sentiment and an improvement in the gold price is required to stimulate investors.

I'm going to hang in as in my view this is a safe one to hold in these uncertain times. I'm prepared to wait and believe that when the tables do turn this will race near the top of our ASF competition.

On the chart it is moving roughly with the rise in gold. I think the fall off in the markets is reflected in the recent drop. Which tells me that few have any belief or knowledge relating to gold. Interesting times.

big.chart
 
From Barry Fitzgerald this week:-

"A major new round of resource in-fill drilling and extensional drilling has commenced at Millennium’s Bartons Underground deposit in WA. The drilling will test for extensions to a depth of 200m below the currently-defined mineralisation, with an updated Resource and Reserve estimate expected in early 2019."

https://mail.google.com/mail/ca/u/0/#inbox/FMfcgxvzLrKdVzbwPlHGJlGSlDNltPFC
 
In my view I believe MOY has levelled out on fairly solid support. The gold price is rising, in fact the Aussie gold price is heading close again to it's all time high of $1856, currently about $1820.

big.chart
 
More high-grade drilling results announced today from the Golden Gate Mining Centre, part of MOY's 100%-owned Nullagine Gold Project. Grades and widths look great, especially from D Reef.

screenshot-stocknessmonster.com-2019.01.29-13-00-35.png


As expected MOY has continued to head north on the news which comes just as gold has broken through US$1,300. 2019 could be a good year for MOY if the gold price remains bullish and drilling results like these keep coming through.

MOY up 10.5% to 21c so far today.

big.chart-MOY.gif
 
Damm... I was thinking of picking MOY for the Feb comp. Not only did they release good results yesterday but again today some drill results from Bartons:

Drilling designed to upgrade the current Mineral Resource and allow conversion to Ore Reserves, with significant assays including:
▪ 3.32m @ 14.09g/t Au from 151.4m including 2.72m @ 16.62g/t Au from 152m (BUDD0001)
▪ 8.1m @ 5.23g/t Au from 213.9m including 2.4m @ 9.23g/t Au from 216.6m (BUDD0020)
▪ 8m @ 3.69g/t Au from 95m including 1.15m @ 13.55g/t Au from 100m (BUDD0011A)
▪ 6m @ 6.71g/t Au from 147m including 5m @ 7.59g/t Au from 147m (BUDD0021)
▪ 6.6m @ 3.14g/t Au from 111m including 1m @ 10.85g/t Au from 114.4m (BUDD0003)
▪ 5.3m @ 2.90g/t Au from 115.7m including 1.19m @ 5.62g/t Au from 118.56m (BUDD0005)
▪ 2.67m @ 4.92g/t Au from 64.73m including 1m @ 6.82g/t Au from 66.4m (BUDD0026)
▪ 3.2m @ 4.00g/t Au from 143.6m including 0.95m @ 6.45g/t Au from 145.85m (BUDD0032)

The SP will continue to rise I think. MOY will be providing an updated Mineral Resource and Ore Reserve Statement in February.

Ok, think it's still a good pick for Feb.
 
With the Aussie gold price heading towards it's all time high the latest news from MOY should finally bring some comfort for holders.

"
8th February 2019
Resources Rising Stars
Gold miner Millennium Minerals has been on the hunt for gold at its Nullagine site in WA’s Pilbara region (reports Stockhead).

And the company says its “dedicated exploration program” has paid off.

Total ore reserves as at the end of December amounted to 375,300 ounces — a 70 per cent increase from the 2017 total of 221,600.

Millennium (ASX: MOY) says the prospective life-cycle of its Nullagine project has now increased to four years.

That projection is based on extrapolated 2018 production rates of 100,000 ounces (ozpa).

However, “the company’s objective is to further increase its ore reserve base to deliver a plus-five year mine life”, Millennium said.

The latest increase was driven by a new ore reserve totalling 220,000 tones. It’s expected to yield 27 grams per tonne (g/t) for a total of 27,100 ounces.

In addition to some success in its exploratory drilling programs, Millennium says it can also boost ore reserves via the conversion of existing sulphide resources.

The net result is that total production for the 2019 calendar year is now forecast at 90,000-100,000 tonnes, up from 75,000-80,000 last year.

Read more at https://stockhead.com.au/resources/...-more-gold-wants-to-boost-production-by-20pc/"
 
A capital raising has caused MOY to stumble on the chart this month. However when trading began again Monday the volume indicated enthusiasm. This all began prior to my selection of course but feel as the increased activity at the mine can now be kicked up, and a gold price rise, which I expect soon, (maybe not this month) could see a good chance of a solid rise in the share price.

big.chart
 
explod said:
the increased activity at the mine can now be kicked up, and a gold price rise, which I expect soon, (maybe not this month) could see a good chance of a solid rise in the share price.
Click to expand...
That's my thinking although I don't have a specific time frame for it to occur other than saying it should.

I'm holding this stock at present.
 
Yes, agree Smurf, seems to be a big lack of sentiment, in spite of the rising Aussie gold price.

I believe it will happen when we least expect it. Remember the early days of NST below $1.00, today hitting $9.00 Moy does not have their extensive resources but on current plans of production in a year or too surely $1.50 to $2 should not be out of the question.
 
My computer is in dock atm so cannot transfer a chart. MOY sufferred a big drop in the last month due to a number of internal issues including the creation of more shares.

In my view it has been oversold and good production news is due soon too. Our Aussie dollar is holding and things are looking very tender on Wall Street so a jump up in gold for the new financial year could also push it too.
 
MOY has certainly been hammered and has under-performed the GOLD ETF for quite some time. MOY hasn't been the only gold producer that has done poorly when compared to the GOLD ETF.

moy2905w.PNG


Oversold and perhaps at the bottom? Interesting @explod
In the mean time I'll keep watching Aussie Gold Hunters.
 
Jeeeezzzz, returning big time, fundamentals first and sentiment will arrive.

big.chart
 
Interesting jump the past week. Just POG? Had a quick look through their last investor presentation and can't see where the major upside is. Where do you think it's from, expod?
 
kennas said:
Interesting jump the past week. Just POG? Had a quick look through their last investor presentation and can't see where the major upside is. Where do you think it's from, expod?
Click to expand...
They have been developing a new processing system for the last couple of years and a lot of good ore has been stacked aside to be fed in. And due to Capital raising complications of recent times sentiment among newer players has been the main cause of the recent drop. Both hurdles seem to have been covered but no clear announcement, though due, has yet been made.

I feel the sudden turn up in the gold price has probably stirred old players. Of course the announcement is probably an imminent driver too, lol.
 
Good rise today and word is about that the processing is going well and of course the gold price is looking good.

Currently in hospital so cannot put up a chart but the last month has been a very big dip.
 

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