X64 - Ten Sixty Four

[Trav.]

@barney I like the 207M share issue as well. Not in the Billions like some smaller stock.

I am like you, and might have to offload 1 or 2 to find some extra coin

 

[Trav.]

Market Cap about $150 million

I like the 207M share issue as well. Not in the Billions like some smaller stock.

I probably shouldn't drink and drive the computer as I see that @barney quote of $150 million Market Cap includes my observation of 207M shares issued ( very astute Trav )

 

[barney]

Nah, its still a valid point @Trav. The odd Stock i own has SOI in the billions with lower market caps than MML. I think the lower SOI, but higher SP is generally more attractive to a lot of punters. If they ever need to raise capital etc, it can be less dilutive to the register. In reality its still the same ratio with different numbers but if a low priced spec needs to issue few million shares just raise a small amount, it can be a psychological barrier to holders.

 

[Trav.]

I have entered MML today and we will see how we go.

Avg buy price $0.777 so lets hope that we are lucky 7 has a better result here

Well as a young man I was hugely impressed with this and thought I would repeat it myself on Feb 11 one year. I chucked my dart and it landed on triple 7. Oh well that maybe means something i thought. I went to the races by taxi to Ascot and the number plate had at least two '7's in it. Ok I thought. Jumped in the car and got talking and the driver said he came to Australia or got married or something on July 7th. Got to the races and met me mates had a few bets and beers was doing pretty poorly I was down 20 odd bucks.
Then the 7th race came up and it dawned on me Hey whats horse number 7. Cant recall its name but I had feeling this was it. There was a strong field I looked over the bookies they were all about 5s and 6s and then one bookie spun up 7 to 1 and to boot his freking name was Sven. I checked my wallet and had $75 and I asked a mate for $2 to make it $77 and got it on at 7 to 1. Told all my mates the story they said I was an idiot and then ran off and put bets on the same horse. Sven the bookie had spun down to 5s by then so I had the best odds and I gave them crap about it. They said if you're on it Jocks so are we!!The race goes off we were cheering and yelling and GUESS WHAT!! It came 7th.

 

[Trav.]

Trialing some new software and I still have my training wheels on so bear with me as I post a few charts and hopefully I can get 1 or 2 predictions correct

MML is a stock that I have not looked at before and being a gold stock naturally I am interested now

Daily chart below showing the potential pivot point zone for wave 2 and the potential wave 3 targets, MML is also in over sold territory so will it pivot up or ........ to be continued

View attachment 117119

MML doing very nice and W2 confirmed, target zones as per below

Holding

 

[Trav.]

Some sad news - 2 workers killed underground.

This follows other fatalities announced on the 27/02/202 and the 25/08/2020.

Holding but maybe not for much longer

 

[Trav.]

Decided to sell out this morning as MML's safety performance is very poor as I noticed that they had an additional death to the ones I mentioned above.

Obviously they have issues and it is a matter of time that they are shutdown, or at least should be.

Sold at a small loss but happy to be out.

 

[divs4ever]

Quarterly Report ( the top bit )

Co-O Mine Operations
 Production: 22,396 ounces at an average head grade of 5.89 g/t gold (Mar 2021 Qtr: 18,359 ounces at 6.21 g/t gold).
 Cash Costs: US$827 per ounce (Mar 2021 Qtr: US$883 per ounce).
 All-In-Sustaining-Costs ("AISC"): US$1,594 per ounce (Mar 2021 Qtr: US$1,304 per ounce).
 Mill performance: Gold recovery averaged 95.4% (Mar 2021 Qtr: 95.8%).
 Mine development: Total underground advance of 5,942 metres of horizontal and vertical development (Mar 2021 Qtr: 5,813 metres). Tigerway Decline Project commenced with the portal initial excavation and support completed.
 FY2021 production guidance achieved: 95,193 ounces of gold produced in FY2021 was slightly above the upper guidance. AISC of US$1,231 per ounce was achieved within guidance.
 COVID-19: Preventive measures to reduce the health risk to personnel while at work continue to be followed. A general community quarantine directive remained in place at the end of the quarter. Co-O Mine Exploration
 Underground resource drilling: Total drilling for the quarter was 13,027 metres, a 53% improvement quarter-on-quarter (Mar 2021 Qtr: 8,500 metres). Key areas and highlights are as follows:
o Reserve drilling at Levels 4, 7, 8 & 10 totalled 4,460 metres from 24 holes;
o Resource drilling at Levels 10 & 12 totalled 8,568 metres from 16 holes; o High-grade results returned from the drilling include 1.0 metre @ 83.4 g/t gold; 0.70 metres @ 29.0 g/t gold; 0.25 metres @ 24.3 g/t gold; 0.95 metres @ 23.7 g/t gold; and 1.60 metres @ 13.1 g/t gold. Regional and Near Mine Exploration
 Co-O near-mine exploration: o Increase in the Mineral Resource for the Royal Crown Vein deposit to 409,289 tonnes at a grade of 6.92 g/t gold for 91,088 ounces following incorporation of Phase 4 drill results. An underground approach for future drilling to increase the RCV resource is currently being planned. o Exploration activities around Co-O and within the Company’s tenements are progressing. Corporate and Financial
 Total cash and cash equivalent on metal account at quarter end of US$72.2 million (Mar 2021 Qtr: US$72.2 million)

DYOR

i hold this share

time to hit the sell button ( and crystalize a loss )

( sigh )

no wonder nobody has posted on this one before

 

[InsvestoBoy]

Long thread going back to 2004 here, ask @Joe Blow to merge your post into there and delete this thread https://www.aussiestockforums.com/threads/mml-medusa-mining.235/

 

[divs4ever]

wow

that missed the search engine

i tried MML then Medusa Mining

thanks

could you please help , Joe ?

 

[noirua]

Decided to sell out this morning as MML's safety performance is very poor as I noticed that they had an additional death to the ones I mentioned above.

Obviously they have issues and it is a matter of time that they are shutdown, or at least should be.

Sold at a small loss but happy to be out.

Medusa has certainly been a laggard compared to Ramelius and Silver Lake. If they'd gone ahead in a similar style the price would be many multiples as of the present. If the gold price recovers in US$ terms they could well not be left out this time around.
----

Was expecting a cash increase this Q to over $80 M. looks like MML has added the Tiger Way costs into the AISCs, which add around $300 to the Qty costs. That drop in grade is also symptomatic of the last time Teo took charge, as a COO keeps on top of mine grade and Teo isn’t a mine manager. That said if MML can pay for Tiger Way out of operating cash flow and retain $70-75 M in cash, that will work while construction happens. Another month or so until audited results and forward guidance for 2022 - by polaris​

Quarterly Report - https://www.medusamining.com.au/wp-content/uploads/2021/07/210727_june2021quarterlyreport.pdf​

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[divs4ever]

i have an exit order in the market

it is a bit higher than the closing price , i have held this since January 2012 .. i am becoming deaf to excuses .. deaths , generator contractors , flooded shafts , dodgy lifts , failing pumps .. and at least one road washout

good luck if you continue holding

 

[System]

On May 10th, 2022, Medusa Mining Limited (MML) changed its name and ASX code to Ten Sixty Four Limited (X64).

 

[Dona Ferentes]

Ten Sixty Four (X64) is an unhedged, high-grade gold producer which operates the Co-O Gold Mine in the Philippines.

The Company’s FY22 guidance is for 87,000 to 90,000 ounces of gold production at an All-In-Sustaining-Cost of between US$1,350 to US$1,400 an ounce. Ten Sixty Four has no long term debt and is targeting new growth opportunities in the Asia Pacific region.

Successful Acquisition of 1064
－ Medusa completed the acquisition of Ten Sixty Four Queensland Limited (1064) by the issue of 20m Medusa shares in February 2022.
－ Transaction gave Medusa control of more than 4,200km2 of highly prospective ground in Queensland’s Drummond Basin.
－ The management team acquired with the asset package are highly experienced and have a proven track record of cost-effective exploration and mine development in the Drummond Basin.
－ More than 83% of the 1064 shareholders agreed to a voluntary escrow of shares in a vote of confidence in the new combination.
－ Intensive exploration programs commenced in March 2022 involving soil sampling, geophysics and drilling.

Medusa secured a 100% interest in Ten Sixty Four Queensland Ltd’s 4,150 km2 exploration land package in the southern Drummond Basin region of Central Queensland.
－ The Drummond Basin assets include a pipeline of exploration targets that have been built and advanced by the 1064 team over the past five years. As part of the Transaction, 1064’s exploration team are now supporting the exploration program in the Drummond Basin in partnership with Medusa.
－ Intrusion-Related Gold Systems have proven to be big and very valuable, bulk tonnage deposits.
－ These deposits are typically undercover and require the application of geophysics and detailed soil analysis prior to drilling.