Minco plc

Grecco

I thought i`d post a heads up here for Minco Plc, and no this isnt an Oil explorer for once
I have taken positions with this stock over the last while and are currently about 5% of my portfolio so you may think I have a bias view but I can assure you its not and they are definitely worth a look.

http://www.minco.ie/newsReleases/2012/MIO_Completion%20of%20Investment%20in%20Buchans%20(20120516).pdf
http://www.minco.ie/projects/Buchans.html
http://www.minco.ie/projects/Woodstock.html
http://www.xtierra.ca/pdf/XAG_Investor_Presentation.pdf
http://www.minco.ie/newsReleases/2012/MIO%20RNS%20June%2029%202012%20-%20Annual%20Report%20and%20Accounts.pdf

Key points to note

Current mcap £8m
Currently trading MIO.L at between 2-2.25p over the last week which is near a five year low
Minco own 29% of Xtierra Inc. making their holding worth roughly £8m!!
Xtierra hit the pay-dirt big time and its share price is rising fast
Minco have £9m in the bank

So that makes them worth £17 million which means that they are trading at a massive discount!!!

The future looks very bright and news from Buchans project due by the end of October.

Any negatives ???
Not much, my only niggle is that they sold Pallas Green to Xstrata last year on the cheap, but that's the nature of the Business for a small cap they had to take a low price as they could not at the time afford to develop it.
Another negative is the Mining sector isn`t exactly on fire at the moment but that does give rise to opportunities like this one

neil.p.b

Grecco your maths is a little off, unfortunately it's not possible buy at a discount >100%!!! It's a 47% discount..

Can i ask where you got the £9m figure for cash in bank and how up to date it is?

Very interesting though. I know next to nothing about mining but it looks like a great arbitrage opportunity after Xtierras recent rise. Thanks for the heads up.

turbobaby

I know a lot of people who have been shouting about how good XAG's prospects are. It's one of the most fancied junior mining stocks amongst a group of mining investors I am friendly with. I almost bought at 12c earlier in the Summer.

Minco provides a second bite at the cherry, but there are surely reasons why there is such a discount.

A poster on here recently recommended Minco on my thread, so perhaps he can post here giving his reasons for holding.

The 12.5% spread on Minco has been there for a while so that would put me off a little.

Grecco

neil.p.b wrote: »

Grecco your maths is a little off, unfortunately it's not possible buy at a discount >100%!!! It's a 47% discount..

Can i ask where you got the £9m figure for cash in bank and how up to date it is?

Very interesting though. I know next to nothing about mining but it looks like a great arbitrage opportunity after Xtierras recent rise. Thanks for the heads up.

LOL Your right Neil, but you see what I`m saying that they are trading at half there asset value.
The cash balance is correct as of the 29th of June 2012 unless they've gone on a massive spending spree since but I doubt that. And I think that may be one of the gripes investors had with them, they were expecting some type of divi or share buy back from the sale of Pallas Green to Xstrata but instead the cash is just sitting there plus they could have sold it for more than they did. But as they say hindsight is like having 20:20 vision to the future.
Anyway that's done and dusted, they are in total profit with there 29% of holding of Xtierra and the future looks good, no debt and Buchans could well be massive. If it is lets hope that this time it isn't sold on the cheap!!

Grecco

turbobaby wrote: »

The 12.5% spread on Minco has been there for a while so that would put me off a little.

Yes that spread is weird, I guess it was due to the total lack of anything happening there over the last two months, there was days when there was hardly any trades. Having said that I was always able to buy below the Ask but that has changed over the last week since the Xtierra news.
Those MMs are well keyed in :rolleyes:

kerosene

I bought 180,000 shares in minco in Feb of this year on the advice of a family member who works alongside one of the directors. So far Im down about 50% but there does seem to be a lot to be positive about particulary the buchans project in Canada. I am following minco closely on other forums and the general consensus is it could be 12-18 months before it sees signigigant gains. I am a total novice when it comes to investment in the stock market but I do enjoy checking up on other stocks and reading the forums and seeing what other posters think.

MrMatisse

This share was over 13p about 8 years ago .

It was also a great opportunity then.......... when its was a mexican silver miner.............

If you are reading this thread and are going to invest in a small cap, please do your research. Dont listen to all the hype on this thread.

Grecco

MrMatisse wrote: »

This share was over 13p about 8 years ago .

It was also a great opportunity then.......... when its was a mexican silver miner.............

If you are reading this thread and are going to invest in a small cap, please do your research. Dont listen to all the hype on this thread.

Err no it wasn`t a great investment then. Its hardly an investment now its speculation.
Timing is key to all trades so I can assure you Mr that i`ll have long cashed out in profit before this sees 13p but you can buy then if you like

Grecco

Share price has been more or less flat since I bought in (which isnt bad considering the mining sector as a whole is down between 10 and 25% since) I have been able to add more @2.11p but thats as low as I could get with FXCM. They currently are about 9% of my portfolio now

Anyway updates so far are

Reserves and resources of Xtierra Inc. are now up above $1.6 billion (Minco owns 29% of this!!)

Buchans is now a go for Minco
Heres a link to the ceo of Buchans minerals latest interview

kerosene

took a battering this morning down almost 18% at one stage, recovered a bit late on to end up at 2p, down just over 11% on the day.

Grecco

kerosene wrote: »

took a battering this morning down almost 18% at one stage, recovered a bit late on to end up at 2p, down just over 11% on the day.

Trading between 3.5p and 4p now. Good results from the Pennines should see the SP head above 5p
Great few months so far, I`m up 100% on my original investment which is now free carried.

JOHNPT

I agree Minco had potential huge upside. The North Pennines Orefield looks very interesting - if first drilling results are positive this will move northwards very quickly.

kerosene

JOHNPT wrote: »

I agree Minco had potential huge upside. The North Pennines Orefield looks very interesting - if first drilling results are positive this will move northwards very quickly.

up to 4.25p today

Grecco

just hit 5p
This one is motoring north now!!

kerosene

Grecco wrote: »

just hit 5p
This one is motoring north now!!

it has really gathered a lot of momentum the last couple of days without any major rns driving it. drill results from nenthead expected in march and if they are as good as expected it could be a great pay day.

JOHNPT

The following article is very interesting & if initial results are positive this share will rocket.
http://resourceinvestingnews.com/48488-how-lead-mining-could-make-a-comeback-in-the-uk.html?utm_source=Resource+Investing+News&utm_campaign=38da6de98c-RSS_EMAIL_CAMPAIGN&utm_medium=email

Grecco

Cashed out a bit more today, no harm in taking a bit more profit when it comes available

Grecco

Sold the last of my shares yesterday, Xtierra has been heading south with a few weeks so this undermines Mincos value as well.
I wasn't overly impressed with the Buchans project results to date. The North Pennines Orefield still looks very interesting but I`m out until we get some firm results from there.
All in all a good start to 2013

RATM

Are you planning on getting in again further down the road Grecco ?

Grecco

Depends on the results from the north pennies and if the Xtierra SP recovers. They are a different investment now at 4p than they were at 2p.

kerosene

Very encouraging report from T. McKillen on mexican projects. There was a lack of information recently regarding the direction of these projects but there seems to be a very focused timetable over the next 12-18 months to assess possible production as early as late next year.

With drill results from Canada and England expected in next 2-4 weeks, it is a crucial few weeks for Minco, particullary the results from Nenthead in England.

kerosene

Sorry that should have been possible construction late next year and production 2015.

kerosene

Minco are in the process of buying Buchans Mineral Corp. There is speculation of them listing on the Toronto stock exchange what would be the pros and cons of this policy.

Boscod

Interesting piece on the BBC North East news regarding the potential of the Pennines project.

http://www.bbc.co.uk/news/uk-england-tyne-23716625

kerosene

Minco finished strongly yesterday on 5p, with speculation on message boards regarding positive drill results from North Pennines ahead of the AGM on Thursday.

kerosene

Minco up 75% today. PEA from woodstock was leaked this morning, NPV of over $800m. Share price spiked and trading suspended. Official rns expected at 7am tomorrow, expect a crazy day of trading.

chompdown

Well done bud! Long time waiting but your patience looks like being rewarded...

Grecco

This one has come back on my radar again. Currently trading at 0.5p a share. No debt, £3 million roughly in cash. Own 4 decent mining prospects now all of which have had the reserves proven and are ready to be sold from a value range of £5 to £35 million per mine.
Also and this is key- they are to receive a 2% royalty ex-smelter from the Dalradian Curraghinalt gold deposit in Northern Ireland. The market believes this mine is now set to go and when in production will net nearly £3million a year to Minco at no cost!
Currently Minco has a market cap of £2.5 million. You do the maths before the rest of the market cops on to this.

Grecco

Dalradian Intersects 3.67 m of 15.33 g/t Gold and 1.62 m of 48.31 g/t Gold at Curraghinalt

TORONTO, ONTARIO--(Marketwired - Feb. 18, 2016) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or
the "Company") announces results from 51 drill holes from an ongoing infill drilling program at the
Curraghinalt Gold Deposit in Northern Ireland.

Highlights

/T/

-- 1.84 m of 33.90 g/t gold from the T17 vein in hole15-CT-296
-- 0.72 m of 106.57 g/t gold from the V55 vein in hole15-CT-297
-- 3.67 m of 15.33 g/t gold from the No.1 vein in hole 15-CT-307
-- 0.76 m grading 54.92 g/t gold from the V75 vein in hole15-CT-320
-- 1.62 m of 48.31 g/t gold from the T17 vein in hole 15-CT-308
-- 0.76 m grading 95.00 g/t gold from the 106-16 vein in hole 15-CT-317
-- 2.05 m of 15.79 g/t gold from the No.1 vein in hole15-CT-312
-- 1.23 m grading 38.28 g/t gold from the V75 vein in hole 15-CT-325

3% ex-smelter is Minco`s at no cost to them. At them grades it could easily hit 3 million a year in royalties.

Sp up to 0.6 now 1p+ in the next few weeks is very do-able

Grecco

Dalradian share price on the move north, this is going to follow now

Grecco

We are up to 1p now, still no news out yet but this has turned really bullish over the last week. Someone is mopping up all the free shares available.
A sale or farmout of some assets may be whats happening behind closed doors if that is the case we could be 4p to 5p+ very soon.

kerosene

Rns from dalradian this evening should see a signifigant rise in minco sp tomorrow.