I have been in touch with Medusa and understand that Chairman Geoff Davies and MD Peter Hepburn-Brown will be in London w/c 14th November. They will be presenting at their brokers', Fairfax. Geoff has previously indicated that he might be prepared to make a separate presentation to a wider audience.
If this is to be done, then I need to gauge the level of interest and preferred times. Should there be sufficient interest, I'll see whether I can arrange something. Clearly, however, this will not be worthwhile unless there is a strong level of interest. Central London is likely to be the only practical venue.
If you are interested and likely to be able to attend please respond below, indicating time/date preferences. Please also vote this post up, to encourage the maximum audience to view it. Should there only be a small number of responses, I could advise Geoff of other individuals that would be interested in attending the Fairfax presentation.
I need responses very promptly because there is a considerable amount of effort/logistics involved in setting up a successful presentation.
Medusa is currently my largest individual shareholding, so this is, of course, of significant interest to me!
Mark
Disclaimer:
The author may hold shares in this company, all opinions are his own and you should check any statements that appear factual and not rely on them before making an investment decision. The author is NOT a qualified analyst nor authorised to give investment advice. Whilst the author is a director of ShareSoc, all views expressed are entirely his own and not necessarily those of ShareSoc.
Medusa Mining Limited is primarily engaged in mineral exploration, evaluation, development and mining/production of gold. The Company operates in three segments: Mine, Exploration and Other. As of June 30, 2012, the Company’s operational mine was the Co-O mine, which is a rail or tracked mine utilizing battery driven electric locomotives and 1.2 to 1.5 ton mine cars. The Company’s projects include Co-O Mine, Co-O, Usa porphyry copper- gold target, Saugon, Anoling, Apical, Corplex, Sursur project and Lingig copper prospect. During the fiscal year ended June 30, 2012, the Company produced 60,595 ounces of gold. As of June 30, 2011, its Co-O Mine reserves stood at 568,000 ounces contained in 1,820,000 tons at 9.7 grams per ton gold. The Company’s Tambis Project consists of the Bananghilig and Kamarangan prospects. more »
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Sorry Mark, would love to come but can't do that day.
Well done for taking the initiative though.
T
In reply to tournesol, post #5
Just to clarify, if I can organise a separate presentation, likelihood is that it would not be on the 14th, but later that week. 14th is the date that Fairfax are hosting an institutional presentation.
Does that help anyone?
Nearly got enough positive responses now to give this a go, but need a few more. Thanks for indications of interest to date.
Cheers,
Mark
Yes please Mark.
S
In reply to marben100, post #6
M
I'm in town that Wednesday and Thursday to attend the Oil Council Conference, so I could possibly make a session at the start or end of the day but it would probably be difficult to do inbetween.
what time have you got in mind?
T
Mark, I'd certainly be interested, depending on date & time, but I'd endeavour to be there.
Many thanks for organising another company meeting.
In reply to tournesol, post #8
Early evening seems to be the most popular time - but, of course, we'd have to fit in with Medusa's diary.
Will keep everyone posted - can't promise anything yet.
Cheers,
Mark
I am pleased to advise that I have had agreement from Medusa, but haven't yet had firm confirmation of the date and time. The two possibiltiies mentioned are both early evening on either Tuesday 15th or Wednesday 16th November - so please keep those free in your diaries. Most likely time is 5:15pm.
Cheers,
Mark
M
can do if weds
T
Both dates theoretically possible as things currently stand.
Timing of 5:15pm is a bit tight - depending on where you have in mind.
Thanks for your efforts.
well done for setting this up - cannot confirm in advance but will keep watcing here and on advfn and confirm nearer the time if ther are seats available
Date and time is now fixed for 6pm on Tuesday 15th November. Location remains TBD but will be Central London. Will advise those interested of further details as soon as the venue has been determined.
Cheers,
Mark
Mark, sorry for late RSVP to the party, but I can make Tue at 6pm if you have any spare spaces...
Mark, I would be pleased to attend if there is a place.
Many thanks
Hi db & fuiseog,
[Sucking of teeth noise]Reckon we can fit you in. :0) fuiseog, pls can you message me with your name and e-mail address.
Hope to have the venue finalised shortly.
Cheers,
Mark
I have expressed my sympathy to Geoff and asked him to pass on my condolences to the family of the miner killed in the tragic accident announced on Monday. It brings home the human cost and risk of the mining industry, though I'm sure that Medusa does all it can to prevent such accidents.
Despite this, I am pleased to say that the presentation is going ahead at 6pm on Tuesday 15th November, as previously announced and a venue has been arranged. Light refreshments will be provided. I am also pleased to say that I have had a good response (thanks everyone!) and have e-mailed all those that have responded or expressed an interest with details and a request for final confirmation. Spaces are limited but we still have a small number available. So, if you are interested but have not yet provided me with your name and e-mail address, please do so ("davegk" and "silverfern", that includes you!). You can do this privately by clicking on my id (marben100 at the header of this post), selecting "profile" and then sending me a message.
Cheers,
Mark
Hi Mark,
I'm sure you will have noticed this and maybe you will be in a position to add a little comment later next week.
10 Nov. 2011 Result of AGM
As ordinary resolutions to the:
For
Against
Discretionary
Abstain (1)
Total
1.
Re-election of Geoff Davis as Director
44,434,320
37,097,399
12,494
50,243
81,594,456
http://www.investegate.co.uk/Article.aspx?id=201111100844558522R
11 Nov. 2011 Director's Shareholding
Geoffrey Davis, Chairman, had sold 1,000,000 ordinary shares
http://www.investegate.co.uk/Article.aspx?id=201111110700419012R
Thanks, Bob
Background info for the purposes of completeness of the post:-
9 June 2011 Board Restructure
http://www.investegate.co.uk/Article.aspx?id=201106091147291638I
And, if the presentation happened, what did you all think?
In reply to snickers, post #21
snickers,
It happened - and was, literally, standing room only. Sorry I haven't had time to report back: it was enough work organsing it. There have been comments/writeups on the very active ADVFN thread, incuding some remarks from me. Unfortunately most of the attendees chose to post there, rather than here.
FYI I've just got back from attending Bowleven's AGM in Edinburgh. I'm half way through writing that one up, which I'm determined to do (but the body of that will be published on ShareSoc's member network, as I don't feel it's suitable for a public BB). I estimate it will take me a total of at least 6 hours to complete properly, as I've spent 3 hours so far - plus all the time and expense travelling and attending.
Given this sort of commitment (and that I'm not paid for any of this), I've reached the point where I'll only be publishing write-ups very selectively.
Cheers,
Mark
i've been looking at the latest presentation...
i see the grades are falling off, 5 quarters on the trot: and costs rising.
a year of high volume milling, say back up to 230kt, at 8 g/t, makes 52koz..
at $250 costs, $1400 price, that's $60m income, which is about half this full year's. But the presentation predicts again near 100koz..
anyhow. i'll be off to advfn to find out how they're going to do it.
no cause for alarm. medusa, unusually, publish a quarterly report along with their near-monthly presentations. the latest one says the following:
..Gold production for the quarter was 10,510 ounces, .. 8.33 g/t gold ..$291 per ounce.. As advised .. on 22 June 2011, the mine is pre-dominantly in development mode to prepare for the future production increase and all development ore mined has been treated through the mill. The increased amount of development ore treated is the main reason for the lower recovered grade .. upgrading of the Agsao shaft ..reduced haulage capacity and resulted in the lower mill throughput.. With the current accelerated development program ..Company expects to meet its production guidance of 100,000 ounces for the full year. Whilst cash costs per ounce ..have increased due to a significant drop in production, the Company anticipates ..$200 per ounce for the year as production increases in the latter quarters.
..a larger winder and skip were installed increasing the haulage capacity of the shaft to more than 400 tonnes per day.. [400 * 90days = 36kt potentially up this shaft. i count 4 other shafts on the mine..]
..Production has continued uninterrupted at the mine except for the Agsao Shaft as described above. All surface stockpiles have been depleted ..Ore trucked to the mill during the quarter was predominantly development ore, low grade stockpiles and some stope ore.
& of course you hardly have to be a bull for gold to invest, since medusa must be a candidate for the last-man-standing if the gold price falls. I Am A Holder, although i jumped the gun a little last week as far as refreshing my research went.. but at these prices, etc..