MTB - Mount Burgess Mining
- Thread starter suntrader
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I researched this one thoroughly a while back and it looked like a great Zinc exposure except for one thing, its grades are damn low!
So I didn't buy,
This info was correct as at 31st May 2006 so things may have changed since then, I would have thought a placement to raise cash
Shares: 200m
Cash: $1m
Mkt Cap: @ 7c = $14m
Deposit: Open Pit to 100m depth, 17.5Mt @ 3% Zinc + 1% Lead + 28g/t silver
Watch those grades, you need fairly high spot prices to get that project off the ground, Cap Ex will be between $150m - $200m depending on type of milling they use so huge funding requirement, which IMO would require a zinc price of $2.50 lb to justify the investment.
So I didn't buy,
This info was correct as at 31st May 2006 so things may have changed since then, I would have thought a placement to raise cash
Shares: 200m
Cash: $1m
Mkt Cap: @ 7c = $14m
Deposit: Open Pit to 100m depth, 17.5Mt @ 3% Zinc + 1% Lead + 28g/t silver
Watch those grades, you need fairly high spot prices to get that project off the ground, Cap Ex will be between $150m - $200m depending on type of milling they use so huge funding requirement, which IMO would require a zinc price of $2.50 lb to justify the investment.
Thanks YOUNG TRADER.
The grades are low but the resource appears to be really big and as you say, its open pit mining which is a low cost operation. Nothing has been factored in yet for vanadium so that may also beef up the feasability.
The latest research report indicates a 354c value per share based on a zinc price of $ 3 000. The project is still feasable at a zinc price of $ 1 358 (takes the project to a 50c value per share) and they maintain that its still feasable to a zinc price of $ 1 000.
What I battle with is, that despite the strong fundamentals, the share price just does not move. I am worried that I must have missed something, or possibly I am placing too much reliance on their scoping report and the MC reseach report.
How did you arive at your figures?
What other negatives surround this stock?
The grades are low but the resource appears to be really big and as you say, its open pit mining which is a low cost operation. Nothing has been factored in yet for vanadium so that may also beef up the feasability.
The latest research report indicates a 354c value per share based on a zinc price of $ 3 000. The project is still feasable at a zinc price of $ 1 358 (takes the project to a 50c value per share) and they maintain that its still feasable to a zinc price of $ 1 000.
What I battle with is, that despite the strong fundamentals, the share price just does not move. I am worried that I must have missed something, or possibly I am placing too much reliance on their scoping report and the MC reseach report.
How did you arive at your figures?
What other negatives surround this stock?
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suntrader said:
See bottom of my post,
They need $150m to $200m for CAPEX, thats a ****load!
Ain't no one going to give them that sort of cheese unless zinc is well above $3000 t say $4000 t and it stays there for a few months to show its sustainable, its just too risky, if CAP EX was less then it would be a different story
I still have the family silver bet on this stock (so I'm not completely unbiased), I've been very patient as it's taken years and years to get to where they are, Zinc price is up above US$ 4 000 for some time now, the company is close to releasing its resource results.
Catherine Davey at investorweb is writing a TA report on the company tomorrow, it should make interesting reading.
Catherine Davey at investorweb is writing a TA report on the company tomorrow, it should make interesting reading.
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heys
MTB spiked 25% today
just wondering what your thoughts were on this share - not much has been said about in the past
http://www.mountburgess.com/StateOneResearch0507.html
cheers
MTB spiked 25% today
just wondering what your thoughts were on this share - not much has been said about in the past
http://www.mountburgess.com/StateOneResearch0507.html
cheers
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G'day All,
Well I notice its been a longggggg time since someone posted on MTB. Share price has steadily dropped over time and would appear to me to have maybe got close to bottoming out.
Just wondering what others think of MTB at present? Market cap is $10M and currently trading around 3.5c/share. Its just come across my watch radar recently
Well I notice its been a longggggg time since someone posted on MTB. Share price has steadily dropped over time and would appear to me to have maybe got close to bottoming out.
Just wondering what others think of MTB at present? Market cap is $10M and currently trading around 3.5c/share. Its just come across my watch radar recently
Well Paul,
I think the chart is becoming interesting!
Suggest chartists throw a ruler over this one and see what you come up with.
Pity the directors appear somewhat tight with their buys:
Director Data
Viewing Records - 50
Date Ticker Director Volume Price Value Action
07-04-2008 MTB Allan Muligan 200,000 0.038 AUD7,630 BUY Director Activity Chart
12-04-2007 MTB Alfred Stirling 100,000 0.115 AUD11,500 BUY Director Activity Chart
27-11-2006 MTB Nigel Forrester 130,000 0.076 AUD9,893 BUY Director Activity Chart
06-12-2005 MTB Alfred Stirling 281,106 0.942 AUD26,475 BUY Director Activity Chart
02-12-2005 MTB Alfred Stirling 58,500 0.100 AUD5,558 BUY Director Activity Chart
15-11-2005 MTB Alfred Stirling 56,278 0.090 AUD5,346 BUY Director Activity Chart
28-10-2005 MTB Alfred Stirling 292,709 0.110 AUD32,368 BUY Director Activity Chart
20-01-2005 MTB AP Stirling 1,070,694 0.130 AUD144,813 BUY Director Activity Chart
I think the chart is becoming interesting!
Suggest chartists throw a ruler over this one and see what you come up with.
Pity the directors appear somewhat tight with their buys:
Director Data
Viewing Records - 50
Date Ticker Director Volume Price Value Action
07-04-2008 MTB Allan Muligan 200,000 0.038 AUD7,630 BUY Director Activity Chart
12-04-2007 MTB Alfred Stirling 100,000 0.115 AUD11,500 BUY Director Activity Chart
27-11-2006 MTB Nigel Forrester 130,000 0.076 AUD9,893 BUY Director Activity Chart
06-12-2005 MTB Alfred Stirling 281,106 0.942 AUD26,475 BUY Director Activity Chart
02-12-2005 MTB Alfred Stirling 58,500 0.100 AUD5,558 BUY Director Activity Chart
15-11-2005 MTB Alfred Stirling 56,278 0.090 AUD5,346 BUY Director Activity Chart
28-10-2005 MTB Alfred Stirling 292,709 0.110 AUD32,368 BUY Director Activity Chart
20-01-2005 MTB AP Stirling 1,070,694 0.130 AUD144,813 BUY Director Activity Chart
springhill
Make the drill work for YOU
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MTB has exploded in the last week on the back of the granting of a licence to explore for REE in Namibia.
Looks to be very cash poor.
http://www.asx.com.au/asxpdf/20101022/pdf/31t9nn79vl123m.pdf
Looks to be very cash poor.
http://www.asx.com.au/asxpdf/20101022/pdf/31t9nn79vl123m.pdf
Attachments
greggles
I'll be back!
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Mount Burgess Mining experiencing some gains today after announcing that the company is conducting an in-depth review of the vanadium content of its Kihabe Deposit in Botswana. Drilling results from the last quarter of 2017 revealed significant intersections and zones of vanadium mineralisation at shallow depth.
MTB up 57.15% to 1.1c today.
MTB up 57.15% to 1.1c today.
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View attachment 159167
Companies race to secure supplies after China restricts gallium, germanium exports
Companies caught out by China's decision to restrict exports of two metals widely used in semiconductors and electric vehicles were racing to secure supplies on 4 July as some industry suppliers worried that curbs on rare earth exports could follow.www.euractiv.com
