MAT - Matsa Resources

[finicky]

My source on twitter:

 

[farmerge]

My source on twitter:

I think I will forward move MAT to a more prominent viewing rather than having it on a list of could or might be hopefuls.

 

[frugal.rock]

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

View attachment 204177

That slide is quite deceptive imo...proceeds from Anglo transaction?
Anglo have an option to acquire, not a guarantee.
Counting Devon chickens before their hatched.
The question marks should be on every Add imo..

Sure, there's an asterisk in the heading which isn't explained at the bottom of the slide, and you are redirected to other slides from other dot points, but on its own, that slide is very shady and deceptive.

 

[farmerge]

That slide is quite deceptive imo...proceeds from Anglo transaction?
Anglo have an option to acquire, not a guarantee.
Counting Devon chickens before their hatched.
The question marks should be on every Add imo..

Sure, there's an asterisk in the heading which isn't explained at the bottom of the slide, and you are redirected to other slides from other dot points, but on its own, that slide is very shady and deceptive.

re MAT Rubbery figures at best, perhaps, or smart accountancy

 

[Sean K]

That slide is quite deceptive imo...proceeds from Anglo transaction?
Anglo have an option to acquire, not a guarantee.
Counting Devon chickens before their hatched.
The question marks should be on every Add imo..

Sure, there's an asterisk in the heading which isn't explained at the bottom of the slide, and you are redirected to other slides from other dot points, but on its own, that slide is very shady and deceptive.

I'm still going back through their anns to try and work it all out. At one point there was some sort of take over offer.

And, they mention something about Thailand in their presentations. Huh?

 

[frugal.rock]

And, they mention something about Thailand in their presentations. Huh?

Yeah, some of it looks a bit Sticky Rice and amateurish.
I think @barney likes Paul Poli though, he's also on the board of Bulletin Resources BNR. Maybe B can chime in here about PP.

I agree with @finicky though, the chart looks good and I personally think it will charge on from here.

The Anglo option thing alone is worth nearly double the current MC, so nothing to be sneezed at, and they've handed $5mill over to Matsa before June end I believe, so June quarter should show they haven't run out of cash.

Might be prudent to wait for the quarterly though if considering?

 

[barney]

I think @barney likes Paul Poli though, he's also on the board of Bulletin Resources BNR. Maybe B can chime in here about PP.

Yeah I've always suggested if you were playing poker, you'd want Paul Poli on your team. He's always seemed more like a wheeler and a dealer than a Stock manager to me. He swung a couple of good deals with BNR a few years back which I did ok out of so no complaints from me. I havent been following either BNR or MAT recently but MAT chart has been doing well for 12 months now. The few years before that were tough going though.

 

[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;
•

@Sean K

 

[farmerge]

Yeah I've always suggested if you were playing poker, you'd want Paul Poli on your team. He's always seemed more like a wheeler and a dealer than a Stock manager to me. He swung a couple of good deals with BNR a few years back which I did ok out of so no complaints from me. I havent been following either BNR or MAT recently but MAT chart has been doing well for 12 months now. The few years before that were tough going though.

Good opening with the MAT SP this morning with a high of 0.077. Just still watching to see what if....

 

[Sean K]

Yeah, some of it looks a bit Sticky Rice and amateurish.
I think @barney likes Paul Poli though, he's also on the board of Bulletin Resources BNR. Maybe B can chime in here about PP.

I agree with @finicky though, the chart looks good and I personally think it will charge on from here.

The Anglo option thing alone is worth nearly double the current MC, so nothing to be sneezed at, and they've handed $5mill over to Matsa before June end I believe, so June quarter should show they haven't run out of cash.

Might be prudent to wait for the quarterly though if considering?

Seems things are still on track for them to get the $100m from AGA. MAT MC still $58m. Obviously doesn't add up.

They have also just started hauling ore to the FMR mill with first gold pour due imminently.

It's a small operation, but looks like an arbitrage opportunity to me.

 

[Sean K]

I'm still suspicious of this minnow and the AGA option to buy. Why not just ask the top three holders who own almost half the company if they'd be interested in selling their shares for a 50% premium and they'd own the entire company for much less. Weird.

Seems to be breaking up like every other PM on the ASX.

 

[Sean K]

MAT going along with the POG ride by the looks.

They're well overdue for a 'first pour' announcement. It was supposed to be 7 days after the start of processing which was 17 Sep. So, poor darts on the first pour announcements Matsa.

 

[houtman]

It was supposed to be 7 days after the start of processing which was 17 Sep.

Checks calendar...

and the AGA option to buy. Why not just ask the top three holders who own almost half the company if they'd be interested in selling their shares for a 50% premium and they'd own the entire company for much less. Weird.

It's an interesting share structure for a small company. Can only guess they got told our way or the highway.

I've got a part interest through BNR's 10% holding, another Paul Poli company.

 

[farmerge]

MAT going along with the POG ride by the looks.

They're well overdue for a 'first pour' announcement. It was supposed to be 7 days after the start of processing which was 17 Sep. So, poor darts on the first pour announcements Matsa.

View attachment 207581

I have MAT on my watchlist. Just a slightly interested bystander but after the last couple of days, coulda, shouda but didn't.
The Bloke in the Mirror is not a happy camper with MAT SP now at 0.90c

 

[Sean K]

Checks calendar...

It's an interesting share structure for a small company. Can only guess they got told our way or the highway.

I've got a part interest through BNR's 10% holding, another Paul Poli company.

Crap, what month is it? Where am I??

 

[frugal.rock]

 

[farmerge]

RML What started off as a reasonable day with this mob has now turned somewhat sour.
My exit was reached again, but didn't hang around at the point long enough for me to be able to jump on board.
The Sellars are the culprits again.

 

[Sean K]

RML What started off as a reasonable day with this mob has now turned somewhat sour.
My exit was reached again, but didn't hang around at the point long enough for me to be able to jump on board.
The Sellars are the culprits again.

Strange day, on the chart, haven't been watching. Looks like the volume that took it to 0.095 ar 11.20 was pretty low so it was chased as supply dried up. Might have only been a couple at trades at that price so the daily wick that's appearing isn't that bad.

Strange day all round for PM stocks after gold and silver breakouts and follow through in the US. They all should have gone bananas and even the GDX is even.

Reason - XAO is being smashed.

 

[Sean K]

I don't think the last week has been a leaky ship I think punters had only just caught on that this was an arbitrage play on the gold it's digging up and the potential deal with AGA verses MC/EV.

Visible gold in the pit? Who would have thunk there was gold in there?

 

[divs4ever]

i remember a different company that bragged about visible copper , and the unfortunate frenzy that created

if the find is so good expect predators sniffing around