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MTH - Mithril Silver and Gold

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Interestingly, my trading platform states fair value estimate for MTH is 0.032c :) that's like +37% higher from current sp
 
Telamelo said:
Mithril MTH Extends High-Grade Gold Silver at El Refugio project in Mexico :)
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MTH has also begun drilling up dip of a hole at El Refugio which previously hit bonanza intercepts of 8.26 metres at 80.3 g/t gold, 705 g/t silver.

“A program of deep holes proximal to the bonanza grade intercept of hole CDH-077 has commenced consisting of 6 holes to fill the area up and down dip of the intercept and to the west,” Mr Skeet said.

“The first of these holes is complete, with gold and silver sulphide mineralisation observations consistent with previous El Refugio structure intercepts.”

Mithril has appointed a consulting firm to help it generate a JORC-compliant maiden resource estimation at El Refugio.
 
Been looking for a decent silver explorer/developer on the ASX and this is on the watchlist, but I'm not sure if it's decent or not yet.

This is a pretty good drill intercept for Au and Ag but the rest of their hits seem pretty narrow to add up to anything substantial.

What do you think @Telamelo ? Looks like you own it. What sort of MRE are they going to come out with in Mexico?

Still a pretty low market cap and wandering aimlessly down at 0.015c.

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Sean K said:
Been looking for a decent silver explorer/developer on the ASX and this is on the watchlist, but I'm not sure if it's decent or not yet.

This is a pretty good drill intercept for Au and Ag but the rest of their hits seem pretty narrow to add up to anything substantial.

What do you think @Telamelo ? Looks like you own it. What sort of MRE are they going to come out with in Mexico?

Still a pretty low market cap and wandering aimlessly down at 0.015c.

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Same for me on that question Sean?
I bought into Mithril mid year in anticipation of upcoming assays, BUT, even though they produced 'similar' results MTH barely moved the dial on the market? Just about 'Any other' stock on the ASX would have risen like we expected MTH to have done during the year (but she didn't?)
These results should get investors at least thinking
I sold shortly after due to disappointment, but... buying 'now' and crossing my fingers
 
Thelonegranger said:
Same for me on that question Sean?
I bought into Mithril mid year in anticipation of upcoming assays, BUT, even though they produced 'similar' results MTH barely moved the dial on the market? Just about 'Any other' stock on the ASX would have risen like we expected MTH to have done during the year (but she didn't?)
These results should get investors at least thinking
I sold shortly after due to disappointment, but... buying 'now' and crossing my fingers
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The grades have been really good, just very narrow. So, I guess the MRE will be quite low tonnage with high grade...It looks like they've only drilled down to 350m so it's initially an open pit, then potentially underground if the grades remain as high as 8m @ 80 g/t Au, 700 g/t Ag. Deposits like this go down to 700m in the district apparently.

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Some SP weakness lately. Could get in with a small holding at 12 cents today and some would have picked up shares at 11 cents as someone dumped out a fair number this morning. That's a MC of under 30 million.

Some very good looking grades here. With higher cut-offs they could have a resource above 10g/t AuEq with a few hundred thousand ounces. Risk is a little high for me, as I'm not sure if the drug cartels are active in this area?
 
The Triangle said:
Some SP weakness lately. Could get in with a small holding at 12 cents today and some would have picked up shares at 11 cents as someone dumped out a fair number this morning. That's a MC of under 30 million.

Some very good looking grades here. With higher cut-offs they could have a resource above 10g/t AuEq with a few hundred thousand ounces. Risk is a little high for me, as I'm not sure if the drug cartels are active in this area?
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Do you need to put a .0 in front of the 11 cents, or do I have the wrong code?

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The Triangle said:
Yep, correct. Well... you could buy for 11 cents but it would be quite the premium!
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Could get in at 0.008 at this stage. Gold has been weak lately but I think there's something more going on with MTH and I can't quite figure it out.

MTH got their capital raising in at 1 cent (+ options) so they now have about $4 million. I believe they still need to spend a couple of million on exploration to gain 50% of their Mexican deposit. They then need to pay an additional $10 million (shares or cash or combination?) to get 100% ??? When you think about it - that's pretty rich for a junior with a market cap of just over $20 million. MTH don't exactly republish these details very often. Have to go back to the 2019 acquisition announcement.

They have published what appears to be a fully designed mine (recent quarterly) - yet they have not published any estimated costs? Thought I'd have a crack. If I use a basic $10,000 per lateral development meter cost, $150 per tonne of ore cost, $200 m capex - and assume they get 60% of their resource into their mine plan at $2,500/oz AUD I get: $800M - $310M - $215M - $200M = $75M. I don't quite know what that $75 million represents - roughly I'm thinking an over estimated post tax NPV?? (I tested this basic math on BGL and came up with 1.01 billion - vs their NPV post tax of 0.94 billion. So close enough). Add in a 50% ownership and a fudge here and there and all of a sudden MTH don't seem that cheap? I'm still interested but weary.
 
My tip is MTH for June. I was supposed to have fulfilled the requirement of tipping with my post in early May :)
Next Investors and Hot Copper pumped MTH and is getting into reality now
DNH. I always have fear with mines located in Mexico, Libya, DRC, and alike however
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On September 10th, 2024, Mithril Resources Limited changed its name to Mithril Silver and Gold Limited.
 
out of a long trading halt in June .... back on at 30c then a steady decline to sub 10c two weeks ago. Change of name and news comes out, then yesterday an 80 per cent jump to close at the day's high of 37c. It's all about Mexico .
.
Mithril Silver and Gold Limited announces results from drilling at its Copalquin District project, Mexico.​

Drilling has continued at the Target 1 area (El Refugio) in the Copalquin District with another project and globally significant drill intercept.
• CDH-159 was drilled into a structure on the eastern side of the Target 1 area (El Cometa) returning the highest-grade intercept drilled at the property to date (1,180 g/t x m AuEq):
o 33.00m @31.8 g/t gold, 274 g/t silver from surface, including 7.00m @ 144 g/t gold, 1,162 g/t silver from 18m Including 2.00m @ 495 g/t gold, 3,765 g/t silver from 20m plus including 1.00m @ 26.9 g/t gold, 201 g/t silver from 28m.

CDH-159 was designed to test the recently mapped and channel sampled structure that had been previously intersected by CDH-072 (6.8m 74.0 g/t gold, 840 g/t silver from 35.2m), from a different orientation. With this new data, a second hole has been drilled along strike (CDH-161) with assays pending. Three holes have been drilled down dip of the historic Refugio mine workings, where extensive mapping and channel sampling was completed earlier this year also with assays pending. Drilling is currently in progress on the western side of the Target 1 resource area.

John Skeet, Mithril’s Managing Director and CEO commented:
“Hole CDH-159 is a globally significant >1,000 g/t AuEq x metre drill hole at the maiden resource Target 1 area where we aim to 2X the (529koz @6.81 g/t AuEq) resource in Q1 2025. The intercept includes a zone of lower grade material from surface plus a very high-grade zone from 16 metres down hole, including the typical bonanza gold and silver grades that are a hallmark of this important mining district.

"With the exceptional drill results combined with our recent LiDAR survey, district access road upgrade works and development of the district geologic model, Copalquin continues to progress as another significant gold-silver district in Mexico’s prolific Sierra Madre Trend.”
 
Dona Ferentes said:
out of a long trading halt in June .... back on at 30c then a steady decline to sub 10c two weeks ago. Change of name and news comes out, then yesterday an 80 per cent jump to close at the day's high of 37c. It's all about Mexico .
.
Mithril Silver and Gold Limited announces results from drilling at its Copalquin District project, Mexico.​

Drilling has continued at the Target 1 area (El Refugio) in the Copalquin District with another project and globally significant drill intercept.
• CDH-159 was drilled into a structure on the eastern side of the Target 1 area (El Cometa) returning the highest-grade intercept drilled at the property to date (1,180 g/t x m AuEq):
o 33.00m @31.8 g/t gold, 274 g/t silver from surface, including 7.00m @ 144 g/t gold, 1,162 g/t silver from 18m Including 2.00m @ 495 g/t gold, 3,765 g/t silver from 20m plus including 1.00m @ 26.9 g/t gold, 201 g/t silver from 28m.

CDH-159 was designed to test the recently mapped and channel sampled structure that had been previously intersected by CDH-072 (6.8m 74.0 g/t gold, 840 g/t silver from 35.2m), from a different orientation. With this new data, a second hole has been drilled along strike (CDH-161) with assays pending. Three holes have been drilled down dip of the historic Refugio mine workings, where extensive mapping and channel sampling was completed earlier this year also with assays pending. Drilling is currently in progress on the western side of the Target 1 resource area.

John Skeet, Mithril’s Managing Director and CEO commented:
“Hole CDH-159 is a globally significant >1,000 g/t AuEq x metre drill hole at the maiden resource Target 1 area where we aim to 2X the (529koz @6.81 g/t AuEq) resource in Q1 2025. The intercept includes a zone of lower grade material from surface plus a very high-grade zone from 16 metres down hole, including the typical bonanza gold and silver grades that are a hallmark of this important mining district.

"With the exceptional drill results combined with our recent LiDAR survey, district access road upgrade works and development of the district geologic model, Copalquin continues to progress as another significant gold-silver district in Mexico’s prolific Sierra Madre Trend.”
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Wow a high of $0.37 ....... and to then to reflect on the fact that the highest high was $540.657on Oct. 9th 2003!
 
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