Australian (ASX) Stock Market Forum

MUN - Mundo Minerals

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Interesting to see a new substantial holder. The institutions have good faith in this stock.

Good support at 50c level, but I am disappointed MUN hasn't moved upward with more more gusto than this....

Good times come to those who wait.... I'm happy to wait :)
 
Massive buy order in at $0.60 - bigger than most days volume on this one.

Could be some interest coming back into this stock after a couple of months of mediocrity?
 
wildmanchris said:
Massive buy order in at $0.60 - bigger than most days volume on this one.

Could be some interest coming back into this stock after a couple of months of mediocrity?
Click to expand...

It was only a matter of time here, George Jones factor, tightly held stock, near term producer, gold price and then a positive announcement.
IMHO a good medium term stock at the very least.
 
I have a large holding in this stock. No-one seems to be noticing this little baby is at all time highs...

It's going for $2 but when that will be, we don't know.

Buy now and hold for the next 2 years, that is my view. This is my most favoured stock. Thanks to Imajica for bringing this to my attention a few months back :)
 
Is anyone following this stock? Hit 86c today up 8% in a down market. Their latest update is worth a read, comments, thoughts anyone?
 
gday gil,
ive been in for a while. bright future. cant think of a reason why one wouldnt get on board, but i am no expert.
i believe gold has a looooong way to go
 
arminius said:
gday gil,
ive been in for a while. bright future. cant think of a reason why one wouldnt get on board, but i am no expert.
i believe gold has a looooong way to go
Click to expand...

Does anyoen know the expected mine life of MUN

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -3.1 0.3 6.8 --
DPS 0.0 0.0 0.0 --

thx

MS
 
hangseng said:
New car seems it may be coming if Fat Prophets are right. They have indicated that MUN will go above the recent high of 66.5 in the near future. They are very bullish with MUN, as I am.
Click to expand...

Still bullish at 85.5c?

I too like the fact that George Jones is non-executive chairman.

How does MUN compare to say AVO?
 
Good old Mundo seems to have gone to sleep of recent times - very little volume and a drop from the mid 90's it was floating around.

From their reports the project at Engenho looks like its coming along nicely, with things getting well set up for some mining early 2008. Was a nice little gain if you took the 50 cent options a few months ago in capital raising.

Anyone still holding this? I know FP are still pretty bullish on this stock, but thought the sp would have had a bit more action moving towards mining next year.
 
Yep, still holding... wish I had more. This is one of those safe sit back at enjoy the ride stocks. The general trend is up that is the main thing. Patience is the key... give it 18 - 24 months in my view and the shareprice will look very different. Production is scheduled in march 08.

Who can fault it? :dance:
 
With gold prices increasing and MUN looking to produce gold from March '08, can anybody provide any charts or analysis for this stock?

I'm looking to get in after FP gave it a Strong Buy recommendation (this was a while ago) and was wondering if anybody could provide me with an updated recommendation :)

Thx
 
Hi JTLP - not a very discussed stock on this forum. Pretty tightly held.

The FP recommendation was when Mundo was a bit cheaper, and has had a massive run in the last year. A great run if you had got in at 20 cents, however I dont believe thats where the value ends.

They are on track to produce in March, I had emailled John Langford on the weekend and he promptly got back to me confirming all is on track, and the progress with the other projects is very pleasing as well.

From what i've research, the production at their first project wont be earth shattering but will be a great milestone for Mundo to enable them to start generating some cash flow to fund exploration at the 3 sites they currently have rights to (they have identified another target close to Engenho which is where the production will start). These future prospects are where the real value of Mundo lies, and although im no expert on gold the results so far have been pretty encouraging.

Their management team (althought I dont know them personally) are said to be first class, and have good local employees in South America that are professional and experienced - I haven't come across anything published that has anything but good things to say about them.

The team there are all 100% committed to providing growth for shareholders (quote John), and although I cant tell you if the current price is a good entry I believe that the company will do great things in the future.

Someone please correct me if anything is incorrect in this.
 
Well I have topped up today at 68cents, it finished at 70 cents. I think MUN is about to do another run and don't forget the first gold bar is poured in March. I was thinking of topping up on another stock but with the market volitility and record gold price (I predict $1000 by June 2008)and production in march I thought 68 cents seems cheap. Rally to 80 in 4 weeks, next week I think the US Fed will behave and cut rates to give stability, if it doesn't, things could go down hill but I think they have learnt their lesson, they have no choice me thinks!
 
I bought more at 66c during the recent slump (I initially got in at 30c and again 45c).

I'm hoping that MUN will be my 'gold' star this year (last year it was AND). First production is due shortly, the company seems well managed and its stock is tightly held. Add to this the strong fundamentals for gold and I hope this continues to be a winner!
 
Excellent update today from MUN. Goodluck all longs!


Recent exploration has continued to focus on this zone to develop a better understanding of the region, the distribution of the
gold mineralisation and the geometry of the structures.

Recent analysis has confirmed a strong correlation between soil sampling and RAB drilling, which demonstrates the importance of this exploration technique as a pathfinder for gold mineralisation in the region. The most recent assay result received from diamond drilling the central zone has yielded further encouraging results of 0.6m at 16.7 g/t Au between 3.00 metres and 3.60 metres and 1 metre grading 6.8 g/t Au from 16.70 metres to 17.70 metres from TCD 07-16 located in the central anomaly.

As part of our original joint venture agreement, we were required to reduce our tenement area after completing the initial earn-in from 180,000 hectares to 60,000 hectares. We have now selected this initial joint venture area, which includes the tenements covering the Conceição discovery. Significantly, we have also recently entered into a second joint venture with Gamaleira Ltda on the remaining 120,000 hectares of tenements not included in the initial joint venture.

This second joint venture has been concluded on similar terms, giving us the right to earn an initial 51% interest for US$2 million and then increasing our equity to 80% by taking any resource discovered through to bank feasibility stage. This will enable us to retain exposure to the broader Tocantins tenement portfolio, which we believe is extremely prospective for additional discoveries. In addition, we have negotiated the right to explore for base metals on any of the tenements included within both joint ventures.

Our exploration team at Tocantins, which has recently been expanded with the establishment of the second joint venture, has the significant advantage of having access to a newly established assay laboratory at the Engenho Project. The establishment of this facility gives us a significant strategic advantage in terms of turnaround of assay results – which is currently one of the most significant challenges facing exploration companies.

SUMMARY
In the context of our broader corporate plan, Mundo Minerals has a medium term strategy of developing a sustainable annual production base of around 250,000 ounces of gold. We expect to generate 50-60,000 ounces per annum from Engenho (which will be driven largely from the existing mine and anticipated exploration potential from the tenements); 50-70,000 ounces per annum from Torrecillas, subject to completion of a positive Feasibility Study, and and we hope to deliver about 110,000 ounces per annum from Tocantins in Brazil, which is a major greenstone belt.

We need to undertake a strong exploration program and achieve further success, but the early results from all of our assets suggest that we can achieve these targets. I am pleased to report that we have so far either met or exceeded all of our goals and I firmly believe that this approach will continue to yield positive results for shareholders, and that the targets we have set have very solid foundations based on the exploration results we are seeing.

The Board has approved an exploration budget for calendar 2008 of approximately A$7.8 million. This includes 10,200 metres of diamond drilling and 8,150 metres of RAB drilling to be undertaken in Brazil and 3,750 metres of diamond drilling to be undertaken in Peru. The focus on drilling in Peru is less than Brazil due to the fact that most of the exploration focus on Peru during 2008 will be undertaken via development of exploration declines.

With gold production commencing next month, no debt and no hedging, we are in a very strong position to fund this aggressive exploration and development. At the end of the December 2007 Quarter, we had cash reserves of just over A$19 million; we anticipate that our cash position will be approximately A$8.0 million following plant commissioning at Engenho in April. With the mine budgeted to generate EBITDA of A$12.8 million for 2008, we are exceptionally well placed to achieve our growth objectives.

I am confident that the future for Mundo Minerals is extremely bright, and I look forward to keeping you informed of our
progress, which can also be monitored by visiting our web site at www.mundominerals.com.
John Langford
Chief Executive Officer
Diamond Drilling, Tocantins
 
I just bought into this today at the open and was presently surprised at how it progressed. Is this anything that would have sparked the increase ? Or is it just a matter of getting close to the March pour and everyone thinks it's time to get on board. Looks like exciting times ahead.
 
77 cents today, profit takers probably. Where did HS's highly enthusiastic posts go? Has this stock maybe topped out for the better part of the year? Maybe wait till 2009 gets closer?

On another point, this stock has rebounded off my lower bollinger band ~80% of the time; it just crossed below Friday, might be a reversal in the making. Any expected news to come out soon?



*Edited to state T/A
 
Tukker said:
77 cents today, profit takers probably. Where did HS's highly enthusiastic posts go? Has this stock maybe topped out for the better part of the year? Maybe wait till 2009 gets closer?

On another point, this stock has rebounded off my lower bollinger band ~80% of the time; it just crossed below Friday, might be a reversal in the making. Any expected news to come out soon?



*Edited to state T/A
Click to expand...

Tukker, there sure is some news expected this month!!
Mundo commencing their gold production phase by end of month as stated in the update last week. This was due to occur in March but due to wet weather will now occur by end of this month. Exciting times ahead IMO for MUN with production starting aswell as a number of very promising exploration projects on the go. Not sure why the SP dipped on Friday .... i almost bought more :D
 

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