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MTH - Mithril Silver and Gold

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Wysiwyg

Wysiwyg

Everyone wants money
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Predominantly nickel explorer with a BHPB connection.

  • Outstanding Shares 47.1M
  • Market Cap$12.7M
  • Cash on hand$4.5M
  • Substantial Shareholders – Minotaur Resources Investments Pty Ltd 18.9% – Consolidated Nickel Pty Ltd 17.3%

Although LME stocks are peaking and the PON has come off (so probably not right yet) this company has a large amount of exploration area with involvement in 17 joint ventures.A low volume stock with a bit of a snail appeal to them and seemingly in no hurry to prove up any of their high possibility targets.Next year sees drill activity and Silver Swan North at present.The company could be a dud but with BHPB involved i think they may go somewhere.

A recent power-point presentation on the 14 of November is for further research. (`cause ya gotta do your own :D )
 
Now comes with exposure to Vanadium of similar quality to Reed Resources which has a market cap ~15x Mithril's. I have now found an entry into specialty metals even with their other broad ranging projects. Very cheap IMO:2twocents
 
MC - $8.3m
SP - 3.8c
Shares - 220m
Options - NQ
Cash - $5.5m

Drilling Underway at Illogwa Iron Oxide Copper Gold Target Area
● 3,800 metres of air core, reverse circulation and diamond drilling planned as first ever drill test of newly recognised Proterozoic copper – gold province
● Four priority drill targets comprising outcropping copper – gold mineralisation (rock chips up to 12.6% copper and 1.4g/t gold) to be tested first
● Diamond drilling co-funded (up to $100,000) by Northern Territory Government under Geophysics and Drilling Collaborations Program
● First results expected by late August 2012

Base Metal Exploration – Northern Territory
● Outcropping copper-gold mineralisation continues to be found at the priority Illogwa Iron Oxide (IOCG) Target Area with 4 new prospects identified – Mini Me, El Gordo, Nigel and Dixie.
● Rock chip sampling of Mini Me copper mineralisation returns values up to 7.8% copper and 1.4g/t gold.
● Surface channel sampling at El Gordo returns 7m @ 0.94% copper, 2.8g/t silver and 0.05g/t gold.
● Soil sampling underway through eastern portion of Illogwa to identify additional targets in soil covered areas ahead of maiden drilling program planned for September 2012 Quarter.
● Desktop review of the Yambah Project identifies two prospects – Red Rock Bore and Harry Creek for immediate follow up.
● Historic wide spaced reconnaissance drilling at Red Rock Bore has returned a best intersection of 12.35m
@ 0.1% copper, 0.5% lead, 3.3% zinc, 5.1g/t silver from 131.25 metres in drill hole RRK31 including 2.00m
@ 10.9% zinc from 132.3m metres.
● Ground EM underway at the Red Rock Bore and Harry Creek prospects.
● MMG have completed an initial field reconnaissance of nickel targets throughout the Huckitta Project under the terms of the MMG Nickel Joint Venture.

Base Metal Exploration – Western Australia
● 4 Reverse Circulation drill holes (922 metres) completed to test VTEM anomalies at the Talga East and
Gorge North prospects (East Pilbara Project). Drilling intersects target horizon with assays due by mid-
September 2012.
● Discussions with third parties regarding possible divestment of the Sandstone Nickel Project continuing.

Investments
Mithril is the largest shareholder in Musgrave Minerals Limited (ASX: MGV) with 9.28 million shares and 2.5
million options. Mithril vended tenements to Musgrave Minerals as part of their successful IPO that was
completed on April 29th, 2011. Musgrave Minerals is actively exploring the prospective Musgrave Province in
South Australia with two drilling programs currently underway.
 

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Mithril Resources up 56% to 4.6c so far today on news that a review of historic drilling data has identified
a high-grade nickel-cobalt target at its 100%-owned tenement (EL28/2567) located at Kurnalpi, approximately 70 kms east of Kalgoorlie.

The Company plans to undertake EM geophysical surveying and infill drilling as soon as possible once statutory approvals are in place.

Cobalt and nickel are hot commodities at the moment but today's price movement may be a little overdone and I suspect there will probably be a significant retrace after the initial excitement wears off.
 
Mithril Resources surging this morning following news that the company will acquire exploration company Sun Minerals Pty Ltd, which has an exclusive Option to earn up to 100% of the high-grade Copalquin Gold Silver Project in Durango, Mexico.

Historic drilling results look encouraging:

screenshot-stocknessmonster.com-2019-11-25-09-45-59.png


Given MTH's existing exploration projects, the Copalquin Gold Silver Project looks relatively exciting and could have a lot of potential.

This part of today's announcement as particularly revealing:
The Sun Minerals Directors have personally invested A$2.5M in cash and time into Sun Minerals over the past two years, and have relevant technical backgrounds, having over 50 years of combined Mexico operating experience. The Sun Minerals Directors also have significant experience and success with public companies and developing gold-silver projects in Australia and overseas.
Click to expand...

Sounds like a pretty big gamble to me. These guys must have a lot of faith in this project to sink so much into it.

The consideration payable by Mithril for the purchase of all the issued share capital of Sun Minerals comprises an aggregate total of 673,852,281 fully paid ordinary Mithril shares, which will account for 40% of the expanded share capital of Mithril following completion of the transaction.

The market certainly seems to like the acquisition. MTH is currently up 57.1% to 1.1c but reached an intraday high of 1.8c earlier this morning.
 
*everything* has run today after the trump news. Probably not anything actually fundamentally driving it.

Not to say it won't bounce on more positive trump news though.
 
I just call it how I see it.
I didn't have a position available otherwise I would have bought, most of the time I state whether I hold or not.
Purely a technical chart trade, no FA mentioned.
Not sure why a speccie on the ASX has anything to do with Trump news...?
More of a what's the current indicie flavour...gold, silver, nickel to me.
3x buzzwords... ?
Screenshot_20201006-112436.png

(budget announcement later will impact some players....)
PS; I only share because I care.
I never recommend or advise.
Loss control/ risk management play the biggest part of my thinking.
When I am not sure of the play, I need to be out, and if my greed or fear keeps me in, it doesn't usually end well.
Personally, I wouldn't buy now, I would be selling now.
Cheers.
 
I suspect MTH may see some bullish price action in the short term.

In December 2020 MTH completed its maiden drilling program at the Copalquin Gold Silver Project in Mexico, completing 7,188 metres of HQ diamond core drilling.

The company just raised $5 million at 1.9c a share to continue its exploration program in Mexico, and drilling has already resumed at the El Refugio target, Cometa Project.

Assays are due soon for drilling completed in December.

Silver is looking bullish, and rumour is swirling that SVL might be Wall Street Bets next target. So we may see the silver price rise in the short term, which will help MTH.

Here's a brief video corporate update presented by Managing Director and CEO John Skeet.

 
MTH volume & momentum firing up @ 0.02c +18% :)

Excellent Gold & Silver exposure play in Mexico..

DYOR as always
 
Thanks for the heads up- Shared analysis. technically speaking where on good ground. As MTH continues to pull in the big discovery's with there Copalquin District Project in Mexico finding some outstanding results. Back in the 15th June it had a huge spike in volume after a previous haul of a gold strike in the same district. But no price action. Fundamentally speaking can they hold price and advance in the right direction. Solid move Friday, but can they capitalize and keep the bulls in check...Interesting to see how the next week pans out, good luck I'm in...
 
Stockybailz said:
Thanks for the heads up- Shared analysis. technically speaking where on good ground. As MTH continues to pull in the big discovery's with there Copalquin District Project in Mexico finding some outstanding results. Back in the 15th June it had a huge spike in volume after a previous haul of a gold strike in the same district. But no price action. Fundamentally speaking can they hold price and advance in the right direction. Solid move Friday, but can they capitalize and keep the bulls in check...Interesting to see how the next week pans out, good luck I'm in...
Click to expand...
Our AUD Gold price up overnight to $2,468oz
clear.png
:)

https://goldbroker.com/charts/gold-price/aud
 
But the MTH is there gunner need everything they can get. I don't think its gunner be enough because, something wrong with there books, earnings growth down 35.9% for the year. Return on equity down 18.8%. These latest discovers will certainly boost there confidence. Plus a little night owl tells me this about Gold prices;

Gold Price: Bearish Engulfing Could Ignite Short-Term Reversal

Accommodative monetary policy settings from the Federal Reserve, and falling real rates of return, should continue to buoy gold prices in the coming months.
However, rising inflationary pressures and tapering fears could trigger a short-term pullback in bullion prices.
Escalating inflationary pressures could fuel Fed tapering fears and place downward pressure on bullion prices.
 
MTH holding up relatively well @ 0.02c (given recent sp gains)... awaiting more good news flow hopefully soon (finger's crossed)

Our AUD Gold price nearing $2,500oz :)
 
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