MTB - Mount Burgess Mining - Aussie Stock Forums

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  1. #1

    Post MTB - Mount Burgess Mining

    Any thoughts on this stock?

  2. #2

    Default Re: MTB - Mount Burgess Mining

    I researched this one thoroughly a while back and it looked like a great Zinc exposure except for one thing, its grades are damn low!

    So I didn't buy,

    This info was correct as at 31st May 2006 so things may have changed since then, I would have thought a placement to raise cash

    Shares: 200m

    Cash: $1m

    Mkt Cap: @ 7c = $14m

    Deposit: Open Pit to 100m depth, 17.5Mt @ 3% Zinc + 1% Lead + 28g/t silver

    Watch those grades, you need fairly high spot prices to get that project off the ground, Cap Ex will be between $150m - $200m depending on type of milling they use so huge funding requirement, which IMO would require a zinc price of $2.50 lb to justify the investment.
    Note: I am not a Financial Adviser, nor are any of my posts intended to be financial advice, they merely express my own opinions

  3. #3

    Default Re: MTB - Mount Burgess Mining

    Thanks YOUNG TRADER.

    The grades are low but the resource appears to be really big and as you say, its open pit mining which is a low cost operation. Nothing has been factored in yet for vanadium so that may also beef up the feasability.

    The latest research report indicates a 354c value per share based on a zinc price of $ 3 000. The project is still feasable at a zinc price of $ 1 358 (takes the project to a 50c value per share) and they maintain that its still feasable to a zinc price of $ 1 000.

    What I battle with is, that despite the strong fundamentals, the share price just does not move. I am worried that I must have missed something, or possibly I am placing too much reliance on their scoping report and the MC reseach report.

    How did you arive at your figures?

    What other negatives surround this stock?

  4. #4

    Default Re: MTB - Mount Burgess Mining

    Quote Originally Posted by suntrader
    What other negatives surround this stock?
    See bottom of my post,

    They need $150m to $200m for CAPEX, thats a ****load!

    Ain't no one going to give them that sort of cheese unless zinc is well above $3000 t say $4000 t and it stays there for a few months to show its sustainable, its just too risky, if CAP EX was less then it would be a different story
    Note: I am not a Financial Adviser, nor are any of my posts intended to be financial advice, they merely express my own opinions

  5. #5

    Default Re: MTB - Mount Burgess Mining

    Thanks Young Trader, I take your point.

  6. #6

    Default Re: MTB - Mount Burgess Mining

    I still have the family silver bet on this stock (so I'm not completely unbiased), I've been very patient as it's taken years and years to get to where they are, Zinc price is up above US$ 4 000 for some time now, the company is close to releasing its resource results.

    Catherine Davey at investorweb is writing a TA report on the company tomorrow, it should make interesting reading.

  7. #7

    Default Re: MTB - Mount Burgess Mining


    MTB spiked 25% today

    just wondering what your thoughts were on this share - not much has been said about in the past



  8. #8

    Default Re: MTB - Mount Burgess Mining

    G'day All,
    Well I notice its been a longggggg time since someone posted on MTB. Share price has steadily dropped over time and would appear to me to have maybe got close to bottoming out.
    Just wondering what others think of MTB at present? Market cap is $10M and currently trading around 3.5c/share. Its just come across my watch radar recently

  9. #9

    Default Re: MTB - Mount Burgess Mining

    Well Paul,
    I think the chart is becoming interesting!
    Suggest chartists throw a ruler over this one and see what you come up with.
    Pity the directors appear somewhat tight with their buys:

    Director Data

    Viewing Records - 50
    Date Ticker Director Volume Price Value Action
    07-04-2008 MTB Allan Muligan 200,000 0.038 AUD7,630 BUY Director Activity Chart
    12-04-2007 MTB Alfred Stirling 100,000 0.115 AUD11,500 BUY Director Activity Chart
    27-11-2006 MTB Nigel Forrester 130,000 0.076 AUD9,893 BUY Director Activity Chart
    06-12-2005 MTB Alfred Stirling 281,106 0.942 AUD26,475 BUY Director Activity Chart
    02-12-2005 MTB Alfred Stirling 58,500 0.100 AUD5,558 BUY Director Activity Chart
    15-11-2005 MTB Alfred Stirling 56,278 0.090 AUD5,346 BUY Director Activity Chart
    28-10-2005 MTB Alfred Stirling 292,709 0.110 AUD32,368 BUY Director Activity Chart
    20-01-2005 MTB AP Stirling 1,070,694 0.130 AUD144,813 BUY Director Activity Chart

  10. #10
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: MTB - Mount Burgess Mining

    MTB has exploded in the last week on the back of the granting of a licence to explore for REE in Namibia.
    Looks to be very cash poor.
    Attached Images

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