MAT - Matsa Resources

[noirua]

Gold results look to be only significant and no sign of the word Bonanza: http://www.asx.com.au/asxpdf/20170405/pdf/43h9l4n9mg8n3n.pdf

Why they request a Trading Halt beats me on these occasions.

And so it came to pass. The results proved quite ordinary and only a very big mine would prove to be profitable. So on we go hoping for excellent results. Matsa are a fairly good mining company and should come good one day.

 

[noirua]

Another Trading Halt concerning a progress update on the Lake Carey Project. To be released by next Wednesday. Hopefully better results this time to justify it. Or as pointed out, it could also be bad results to justify it. Crossing my fingers after a very long hold from about 44c a share.
http://www.asx.com.au/asxpdf/20170519/pdf/43jd1zjwpzm38y.pdf

 

[noirua]

Visible Gold in First Diamond Drill Hole BE 1 -
Lake Carey Gold Project
http://www.asx.com.au/asxpdf/20170523/pdf/43jg1518v5tylr.pdf

 

[Tumbarumba]

Recent gold drill results and mining activity are excellent but have been ignored by the market. Also the recent acquisition of the 119 sq. km lease in the Fraser Ranges (nickel/copper) adjacent to existing outstanding finds should not be ignored, although its effect on the share price is likely to be later in the year.
My top tip.

 

[The Triangle]

Recent gold drill results and mining activity are excellent but have been ignored by the market. Also the recent acquisition of the 119 sq. km lease in the Fraser Ranges (nickel/copper) adjacent to existing outstanding finds should not be ignored, although its effect on the share price is likely to be later in the year.
My top tip.

Have been researching small gold players lately with the sharp drop in gold price. MAT came up when I was looking at DCN - agree here some really good grades ignored by the market (must be a reason?). Looks like they have lots of projects on the go, probably too many for such a small company?

Balance sheet not great, cash-flow and current ratio need to be much better and looks in dire need of a recapitalization. Would have some interest if that happens.

 

[Sean K]

some really good grades ignored by the market (must be a reason?).

Good grades, but not much gold.

 

[barney]

Never owned MAT but Paul Poli and Frank Sibbel (also Directors of BNR) had a hand in the in speci deal with PNR many years back

MAT are still a major shareholder of BNR ( Recently sold down from 27% to 20% of the Co.)

Paul and Co. swung a pretty good deal for we BNR shareholders back then so no complaints about that

With that said, I'm really glad the original deal with MAT taking over the Nicholson tenements from BNR did not eventuate

They seem to take a long time getting things to the home plate for some reason


On the flip side:

The current SP looks to be about as low as it should get

Only about 270 million SOI

Top 20 S/H's own approx. 55%

Realistically, it should not take a lot to get it moving.

 

[The Triangle]

Never owned MAT but Paul Poli and Frank Sibbel (also Directors of BNR) had a hand in the in speci deal with PNR many years back

MAT are still a major shareholder of BNR ( Recently sold down from 27% to 20% of the Co.)

Paul and Co. swung a pretty good deal for we BNR shareholders back then so no complaints about that

With that said, I'm really glad the original deal with MAT taking over the Nicholson tenements from BNR did not eventuate

They seem to take a long time getting things to the home plate for some reason


On the flip side:

The current SP looks to be about as low as it should get

Only about 270 million SOI

Top 20 S/H's own approx. 55%

Realistically, it should not take a lot to get it moving.

I see a cap raising for 8 cents to generate 2 million has been announced and the SP is at 7.7- They've had good grade hits and its not got moving. That's the concern. I think it will take a lot to get moving.

Current ratio is 0.45, dropped from 0.8. Take out exploration valuations, etc. and net assets is in the negatives. There are plenty of similar MC juniors cashed up with 5+ million in minimal debt (I'm now looking at PRX and CAZ).

 

[debtfree]

MAT looks to be turning around a little with some showing interest and higher prices. Have they found a little Lithium on site.

 

[The Triangle]

Just was thinking about MAT while posting on BCN.

Only a few short days ago they released a statement suggesting their deal to sell leases had essentially fallen through and $4 million of debt was due end of November, now they have lithium bearing pegmatites in Thailand yet not a single grade is in the release? A liquidity event for the recent capital raising maybe? Should be interesting to see how they finish the day.

 

[noirua]

Matsa Resources (ASX:MAT) forms JV with Linden Gold Alliance for Devon, WA

Matsa Resources (ASX:MAT) is entering a joint venture with Linden Gold Alliance to advance the Devon project into production.

themarketherald.com.au

Matsa Resources (MAT) has executed an indicative term sheet with Linden Gold Alliance to advance the Devon project in Western Australia.

The companies entered a sale and purchase agreement (SPA) in December last year for the sale of the Red October and Devon pits and associated tenements within Matsa’s broader Lake Carey project.

 

[frugal.rock]

A raft of announcements lately containing favourite buzzzwords.
Caution, maybe @noirua can fill us in.

 

[Dona Ferentes]

The headstock team did a 'review'

Resources Top 5: ‘Substantial volumes of gold’ - 1Moz milestone in sight for this $20m capped explorer - Stockhead

Matsa Resources (ASX:MAT) says the Fortitude North discovery already looks bigger and better than its nearby 489,000oz Fortitude mine.

stockhead.com.au

 

[Dona Ferentes]

from 10 Feb : Patronus PTN offer is an on market bid, it is unconditional and the consideration will be paid by way of cash.
The key features of the Offer are:
• it is an on market unconditional offer of A$0.045 cash per Matsa Share;
• the Bidder’s Broker will purchase Matsa Shares offered to it on market from today at the Offer Price until the conclusion of the Offer Period; and
• the Offer Period may be extended and the Offer Price may be increased or the Offer withdrawn in accordance with the Corporations Act.

holders say no?

 

[frugal.rock]

The chart.

 

[finicky]

I won't be buying but this chart looks pretty ok - medium term - cup and handle completing? Widening spread btw moving averages. Significant resistance @ 0.05 overcome.
I read briefly on twitter that they have mined a gold ore stockpile and will be trucking to the FMR processing plant very soon for toll milling presumably?
My twitter source thinks the 'Devon' pit will bring in $95m cashflow? Separately the company has some deal going with AngloGold.

Not Held
No plan to Buy

WEEKLY

 

[Sean K]

I won't be buying but this chart looks pretty ok - medium term - cup and handle completing? Widening spread btw moving averages. Significant resistance @ 0.05 overcome.
I read briefly on twitter that they have mined a gold ore stockpile and will be trucking to the FMR processing plant very soon for toll milling presumably?
My twitter source thinks the 'Devon' pit will bring in $95m cashflow? Separately the company has some deal going with AngloGold.

Not Held
No plan to Buy

WEEKLY
View attachment 204139

View attachment 204140

How can this have an MC of about $50m and is due to earn $150m over the next 18 months?

 

[farmerge]

How can this have an MC of about $50m and is due to earn $150m over the next 18 months?

View attachment 204177

@Sean K What do you reckon Sean, is it one worth watching for the long term investing.

 

[Sean K]

@Sean K What do you reckon Sean, is it one worth watching for the long term investing.

I don't normally look at minnows, but this seems pretty compelling for a short term trade if gold holds up. Not a long term investment from what I can see so far, but on the surface of it, those numbers just don't make sense. Need to do some more research.

 

[farmerge]

I don't normally look at minnows, but this seems pretty compelling for a short term trade if gold holds up. Not a long term investment from what I can see so far, but on the surface of it, those numbers just don't make sense. Need to do some more research.

I looked at those numbers and thought rubbery somewhat!!
But I just might add to a list I keep of hopefuls, on the off chance that there may be a quid in it sometime.