Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
By Marcus Malayea Thirty persons were admitted at the Phebe Hospital for exposure to a chemical spill-over from MNG-Gold reservoir in Bong County over the weekend. The incident took place on Friday, September 29, at one of the mining sites of MNG-Gold in Sayeweta Kokoyah Statutory District after a heavy downpour of rain.
Guys be patient. Quarter has not finished yet!!!!!
Sorry, but i can not understand what result you expect. Vise versa would put company under administration...
Daisan, What i read from the AAZ financials are completely different, but you are right this is not a place to discuss that. What i want to ask you about AUE is that; what you suggest for AUE? If not a 5p per share future. Why are you here? Whats your expactation?
We need to wait for the year-end production update for a price increase. The market will believe in the production and cost planning of MNG. (or not) They f.. up in share issue. I could not buy 1.5p shares either. Thats an awful statr for MNG...
Look at AAZ's cash flow table 2015. Even taking into account D and A and "investments" they produce negative cash flow. This anual "CAPEX" is how they make up their financials and create a "good looking" cash cost figure. These companies hide some costs in D and A also...
Daisan, I was trying to make a simple calculation and show what the figures will look like. When we are talking about gold mining companies, it is almost impossible to make generalisations. Reserves/resources, grades cash costs, all matter. AAZ for example looks like a similiar company but they have lost in their financials last year. Impossible to compare. Lower cash cost? But loss in the financial... Almost a year ago, AUE was trading over 10 p a share. I think 5p a share is not impossible within a year...
Some insight for whats the pink scenario. They announce that their plan is to produce 100 koz annually with the cash cost of 743 USD. That means an EBITDA of 53,7 m USD. If we use a 10X EBITDA multiple and 100 m USD stock value after the share issue, this will yield a market price of app 5 p per share. 3 times the current value...
PuppyDog whats your expectation for Aureus P/E for next year??? Large gold mining company stocks trade for at least 20 P/E....
I think the procedure has not started yet. We need to wait for the shareholders meeting. After the aproval they would start the subscription.
Of course MNG would not allow a default. They would announce the placing and the new mine plan in a shortwhile. They would increase their holding up to 70%. Decrease costs sharply and pump up production. They are not after 30-40 m USD apreciation in market value. Thats nothing for them. They want to create a billion dollar busines in 2 years time.
The placing will come in at most 10 days time. The company is on the brink of a default....
will rocket down when they announce the rights issue. Sorry but right, will come in a shortwhile.
I don't think you are that "naive" to believe that MNG would hold the mining assets for 6 months to 1 year. The placing will come immediately, say in a couple of weeks. MNG will hold over 70 % of the shares after the placing, then they will dump production to desired levels. That�s the story here.
Just have a look at the latest announcement. They paid 15.4 m USD for the equipment. All the other payments (except contract novation fee) adds up to app. 17,5 m USD. In a couple of months they create this huge debt. This shows how bad the past leasing agreement was. The old management tried everything to start production but they failed. (I try to be nice towards them by the way) A huge dilution comes and this creates pressure on prices. Sorry for the long term holders but this is the only way to go on production...
I want to know what makes you give 4 out of 10 faith score.
I am also new to AUE, but i am close to MNG Gold management. They are serious developers. Ceo Umurhan joined MNG (actually he established the MNG gold company) just 3 years time. They already constructed 1 process plant and complete 2 acquisition deals. They focus on production. New liberty is a prospective Project. AUE will become a real cash creator with MNG Gold. Expect a glorious future.