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Fvck it, I've been chasing this for the past few days to get more on but it keeps on being bought higher. Not much volume, but wuite a few %.

Just hit my 15c target but am going to stay completely in while it's been chased.

Don't really have a lot in it so no panic stations if it slides a bit and I get to pick up a few more.

Should be some natural correction soon, gone from 9c to 15c in a coupla weeks.
 
Found some more at 14.5

Solid day.

Still expect a pullback, although the rounded bottom looks pretty good to continue.

I think this rsie is post Opes and in recognition of how undervalued it was and with drilling results coming up with an initial JORC and upgrade.

May take a few off the table shortly, pending market action. Would nice to end up free carried.
 
LOL :)

MLM will own a certain number of shares in the new companies and have members on the boards I assume. I've also been told that MLM holders will have first dibs on the IPO. Exactly how many unsure. If the current drilling by Metro Coal discover a decent coal seam expect it to be a great IPO. We just have to wait and they need to hurry up!

I added another 25% at .53 yesterday.
 
This week:

Doubled holding in KMN at 20c. Currently valued at $7.27 oz au equiv, which is crazily cheap. All things being equal it will be rerated eventually. Or, go into administration...eeeek

Picked up 50% more AZM around 14.5c. In trading halt for release of drilling results on Monday which I expect to be good. May take some profits on any significant move up and hope to get close to almost free carried.

Bought a few more MLM at 51c. Getting cheaper and cheaper. Will hold these now until IPOs of Bauxite and Coal assets I think to ensure entitlement for shares.

Held off selling any LGL or NCM due to POG rebound, and NCM looks oversold. Both seem to have been effected by shortselling.

Bought BFE. Is a recap and has bought into an fe project in Nigeria with a target of 400-600Mt Mag, and needs at least 200Mt for the project to keep going. Looks very prospective from the information available, and with an MC of under $10m should be rerated once the market knows about it. Very spec.

DMM in trading halt to Wed for release of SS. Hopefully the silicon is not a major issue. I expect a minor problem but overall a positive study and it will spike up. I do expect a buy the rumour sell the fact however as it's been ramped so heavily on HC. Idiots. So, I may sell half on a spike and will be well over free carried.
 
Hi Sean

Have you recently followed AUROX AUX and what do you think of its prospects and value considering Windimera Vanadium is also good in Vanadium with not a huge market probably for Vanadium

Regards
 
AUX, no, but will have a look. Don't know much about Vanadium really. Did look closely at Windimera and MXRs potential but not completely over them. Cheers, SK
 
I see the floating of Metrocoal (MLM 100%)(pending satisfactory drilling currently underway) and Cape Alumina (40% MLM) as a massive upside surprise to the market once the listings are approved and taken forward.

He's some detail on Metrocoal from their website:

Metrocoal

Queensland Focussed - One of the Best Coal Regions in the World Metrocoal Ltd. is an Australian–based mineral exploration company focused on its coal projects in the Surat Coal Basin locations of South East Queensland
Currently privately owned subsidiary of ASX listed Metallica Minerals Limited.

The 100% owned project tenements cover a total of 4,000 km ² in Queensland’s productive coal region and have extensive coal bearing strata 3 coal projects (Surat, Ipswich & Injune) with extensive coal bearing strata targeting depths 130m - 300m for Underground Coal Gasification (UCG) as well as open pit coal potential <100m

100% owned tenements.

Value Adding Strategy

Utilising "new" technologies (Underground Coal Gasification - UCG) Spinoff of divestment from successful ASX listed Nickel focused company (ASX – MLM)

Proven Brisbane based team.

Metrocoal has an Edge “Latest” technology enhances portfolio High hydrogen Surat Basin coal suits CTL and Coal Gasification.

Previous work on tenements provides confidence of there being extensive and exploitable coal deposits and data base for further work.

Exploration Target > 1Bt Coal
<300m depth + seam thickness 3m

Metrocoal Summary

Shallow, deep coal utilising UCG technologies
4,000km ² coal tenements in currently under utilised but coal-rich Surat Basin.

Excellent locations for infrastructure.

Low sovereign risk.

Experienced team with successful ASX track record.

Clear strategy for diversified growth in Southeast Qld Coal and Energy.

Cape Alumina:

An initial resource statement released in January 2007 of 54 million tonnes of indicated
and inferred in-situ bauxite. Further drilling aimed at defining 10-15 year mine life
based on 7mtpa of pisolitic bauxite production.

Economics

Export Export revenue of A$250m-$300m pa (subject to positive feasibility study). Export
Sales proposed to Xinfa, one of China’s largest bauxite importers and other Chinese alumina majors.


What's 40% of just that mean for MLM?
How they can be trading at this MC is a bit odd.

Looking forward to drill results and getting on board the IPOs!
 
Thanks for MLM update Sean

Could you please advise who is the sponsoring broker

Regards
 
Just added some stuff on Cape Alumina too.

Not sure about brokers.

Need to call.
 
MC just over $50m with potential revenue from CA $250-300m at 40% = $100-120m alone.

Longer term looks undervalued just on CA.

Throw in the coal and Ni...and 25m Cockatoo Coal shares.
 
And the results out today are a great surprise to the upsdie I'd say. If they get 1m oz au equiv at Bepkong and Kunche we could see 40c by the end of the year I think, if POG doesn't implode...
 
Looks tenuous maybe heading back to 35. Sold a few more and looking to get rid of the rest short term. Will wait and see how 35 goes if it gets there.
 
Haha kennas a bit of analysis on MLM i like it. I too am waiting for a re-rating...damn 60!

Can you tell me this...when they spin off these IPO's, do MLM still share in the benefits/rewards of these spin off companies? (i.e. profits etc as they are under the one umbrella) Or are they now considered seperate entities?

Thanks
 
MLM will hold a certain % of each newly listed company. Ann just out on seed financing for the Metrocoal IPO. All done. MLM retains 84% at this stage. Interesting they got the financing before drill results. Market doesn't know these guys exist yet by the looks. Probably due to their focus on Ni. Not a really sexy project IMO, but will be a cash earner eventually. The spec appeal is the Coal for me.
 
Haha thanks mate!

Would you look at that...my questions are answered. MLM retaining 84% seems good...do they then distribute a % of this to shareholders? If so, please be tiny :)!
 
thanks Kennas and JTC

Weipa is bloody rich with alumina in Cape York
No crusher or digger - Rio Tinto just digs the ore with no blasting. Very rick resources, Alcan used to have thousands of sq km of alumina there and now with take over it is very rich again.
Now with Cape Alumina there MLM will be interesting
I have lived and worked in Weipa for Rio and if MLM stake is equally bigger then the opportunity for them will be explore and sell to Rio back. It will not be cost viable feasible option for any third party to set up a new plant in Weipa as per my understanding - but you never know any way
 
Yep, looks like an easy operation. I've tried to find where the RIO operation is in relation to Cape A, but can't find it. Any ideas? Potential for an offer from RIO down the track perhaps? Obviously MLMs 40% would be a hurdle.
 
Regarding IPOs and allocation for MLM holders:

Thanks Sean,

At this stage we have reserved 2 million Cape shares ($1 million) out of a likely retail total of $8-$10 million for Metallica shareholders. The shares will probably be allocated to Metallica shareholders informally by for example, getting them to return their applications to the Metallica office.

Metrocoal is a little further away as an IPO, but at this stage, we would expect a similar mechanism to apply.

Hope that is of some help.

Regards

John Haley
Director/CFO/Company Secretary
Metallica Minerals Limited
 
Hey,

Just to clarify, the IPO for Metrocoal won't be floated till later this year or maybe early 2009? So the ex-record date hasn't been annoucened yeah?

Cheers
 

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