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5.26%

3.6¢ metallum limited

Ann: Metallum doubles mineralised footprint at El Roble Project, page-10

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bigal36

2,851 Posts.

1312

07/08/14

09:39

Post #: 13782038
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Originally posted by shooshka ↑

heads are a bargain... OB's are pretty fair value (if not overvalued). heads haven't been past 4.5c in the past 12 months, OB's have a strike price of 5c in less than 12 months...

I'd love to see this fly as much as anyone (and I'm glad to see that they are working on longer-term options as well as shorter term) - but the heads need to move well before the OB's become 'value'.

The most interesting part of the ann for me was the picture with yellow and blue lines on it outlining the tenements. Pretty much clarifies the discussion EB (and others) have been having around the % of revenue we get from Panga. the map shows it is not part of the El Roble project that MNE has an option to acquire (68%) - hence the 5000t/m production agreement is completely seperate (i.e. MNE get 90% of revenue, not 68% of 90%).

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Personally I'm more interested in seeing the first production results before deciding if I'm going to get back in the stock. Its been 23 days now since the first trucks left for the treatment plant.

MNE Price at posting: 1.9¢ Sentiment: None Disclosure: Not Held
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