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MEI, METEORIC RESOURCES NL
blacksheep
post Posted: Yesterday, 09:07 PM
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Posts: 5,630
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In Reply To: blacksheep's post @ Mar 20 2019, 11:10 AM

QUOTE
perhaps ASX have a few question regarding trading leading up to the TH, which saw increased volume and SP - particularly on the 15 March before the TH.


QUOTE
ASX refers to the following:
A. The change in the price of MEI’s securities from a closing price of $0.009 on Tuesday 12 March 2019 to a
price of $0.013 at 11:47 am on Friday 15 March 2019.

B. ASX announcement entitled “Trading Halt” lodged on the ASX Market Announcements Platform and
released at 11:47 am on 15 March 2019 detailing MEI’s request for a trading halt pending release of an
announcement regarding a potential acquisition (the "Trading Halt").


Indeed they did. Following is MEI's response - https://www.asx.com.au/asxpdf/20190326/pdf/...slvr86pdqrn.pdf





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 21 2019, 01:56 PM
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In Reply To: blacksheep's post @ Mar 20 2019, 11:10 AM

QUOTE
Tolga Kumova@KumovaTolga
8m8 minutes ago
More Tolga Kumova Retweeted Meteoric Resources
$MEI high grade gold. Here we go again.


"Here we go again" - how true. What ever happened to the "cracking grades" cobalt dream sadsmiley02.gif

Mind you some seem to be happy jumping into the deep end again - SP currently up 7.69% @ 1.4c - volume 12.2 million. Looks like a pump to me. CPS Capital doing the CR

Wholly Underwritten Capital Raising & Share Purchase Plan
QUOTE
CPS Capital Group Pty Ltd (“CPS”) has been appointed Lead Manager, Broker and Underwriter to a capital
raising of AUD$2,640,000 in MEI via the issue of 264,000,000 new Shares at AUD$0.01 per Share (the “Offer”)
.

Under the Offer the Shares will be issued in two tranches with the addition of a share purchase plan to eligible
shareholders. 92,000,000 Tranche 1 Shares will be issued shortly to sophisticated and professional investors
pursuant to Meteoric’s placement capacity under Listing Rule 7.1 (35 million shares) and 7.1A (57 million
shares). 97,000,000 Tranche 2 Shares will be issued to sophisticated and professional investors subject to
shareholder approval.

In conjunction with the Offer, Meteoric will offer eligible shareholders the opportunity to participate in a Share
Purchase Plan (SPP) to raise up to $750,000 via the issue of 75,000,000 Shares at AUD$0.01 per Share. The
SPP will provide eligible shareholders, being shareholders recorded on the share register as at Friday, 15 March
2019 an opportunity to subscribe for up to $15,000 worth of fully paid ordinary shares without incurring
brokerage or any other transaction costs.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 20 2019, 11:10 AM
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Posts: 5,630
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MEI appears to have gone full circle - was floated in 2004 as a gold copper explorer, spent 13 years on the hunt for something meaningful in Australia/failed, switched to something "HOT" in Canada - cobalt - also failed to deliver, and now appears to be heading back to explore for gold in Brazil - announcing it has struck a deal to acquire the Juruena and Nova Astro prospects from fellow struggling ASX listed CAS

QUOTE
Under the terms of the sale, Meteoric will pay cash and MEI shares, comprised of the following:

 A$1,000,000 cash at settlement.
 A$500,000 of MEI shares, comprised of 50,000,000 shares at a deemed issue price of 1c each at settlement (subject to voluntary escrow for a period of 12 months from the date of issue).
 A$750,000 of MEI shares at an issue price equal to a 5-day VWAP upon defining a mineral resource estimate in accordance with the JORC Code, at Juruena and/or Novo Astro containing at least 400,000 oz gold.
 A$750,000 of MEI shares at an issue price equal to a 5-day VWAP upon the Board of Meteoric approving a decision to mine at Juruena and/or Novo Astro, pursuant to a granted mining licence.

https://www.asx.com.au/asxpdf/20190320/pdf/...mt6dspygg67.pdf

CAS acquired the Juruena and Nova Astro assets from TSX-listed Lago Dourado back in May 2014 for C$650 000, which was payable in two tranches, as well as two-million fully paid shares - it became Lago Dourado's "flagship" project. https://www.yumpu.com/en/document/read/7942...do-minerals-ltd

Prior owners included Madison - 1994 to 1998, and in 2006 Talon and GEOMIN acquired the licences - see CAS presentation P19 https://www.asx.com.au/asxpdf/20170224/pdf/...92vxl2hwftq.pdf

The Australian carries an article today titled - Meteoric seeks redemption in $3m double Brazilian gold deal - and suggests MEI is seeking $2.5m to fund the deal. Kumova gets a mention - he's agreed to tip in $400k and underwrite a large portion of the $750k SPP.

Will shareholders be willing to follow suit and tip in, or will it be a case of once bitten twice shy

Meantime, both CAS and MEI remain suspended even though the suspension was to be lifted on the release of the acquisition announcement/at the commencement of trading 20/3/2019 - perhaps ASX have a few question regarding trading leading up to the TH, which saw increased volume and SP - particularly on the 15 March before the TH.



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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 6 2019, 01:55 PM
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Posts: 5,630
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In Reply To: nipper's post @ Mar 6 2019, 01:38 PM

Glad you enjoyed biggrin.gif plenty more where that came from. The sad thing is that no one challenges those posts - or maybe are not allowed to challenge.

Too bad Pierpoint retired. His Blue Sky Mining inside story on how to slug the unwary investor could prove useful on HC biggrin.gif



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Mar 6 2019, 01:38 PM
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In Reply To: blacksheep's post @ Mar 6 2019, 01:20 PM

a classic, blacksheep

The 'journal of record' that constitute postings on a thread allow for interesting reflection (and, in these instances, preferably from a distance).
Unlike most companies, the MEI graph is up in the rocket and down via the parachute. Sometimes known as act in hate, repent in leisure.
And another reason - if needed - to avoid the hype, the momentum, the spruikers, the insubstantial, the mutton dressed as lamb !!

Thanks for dropping in such gems



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: blacksheep  
 
blacksheep
post Posted: Mar 6 2019, 01:20 PM
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In Reply To: blacksheep's post @ Nov 19 2018, 02:19 PM

I wonder what koolaid this HC baggie is drinking - he's happy MEI is a "shell" in less than 2 years after being pumped to just under $1.00, now less than 1 cent @ 0.007c.

Name change to go with a new project? - absolutely, stock standard procedure/rinse and repeat, together with the latest new next hot thing "Meteoric" Resources won't do since the rocket has now crash landed

QUOTE
I understand folks from the deep cobalt days are "p$ssed off" however, everyone needs to realise this is now a shell, cobalt dreams are "dead, buried and cremated".

A cheap bargain based shell with $2m cash about to announce a goldie with an MD who is a gold dude...…..I think its just so exciting, but the more people talk about cobalt the less excitement is generated as the market doesn't realise what's coming and focuses on what the old company did.

Im thinking a change of name to go with the project, 75% new board, new chair everything......I think that's where its at.

I understand people have to sell but I wonder who is buying these cheap shares? We are close to the low (perhaps touch 0.006) but then it goes green with the new project. At $3.9m m/c its easy with a half decent project to be a $20m m/c.

Its never been a more exciting time to be involved in this shell, to paraphrase our former prime minister.


sadsmiley02.gif
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: nipper  
 


blacksheep
post Posted: Nov 19 2018, 02:19 PM
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In Reply To: blacksheep's post @ Nov 16 2018, 01:51 PM

No multi million dollar deal - just shares in TTW (see below) subject to various conditions MEI SP down 11.11% @ $0.016, TTW SP down 10.2% @ $0.044

SALE OF MIDRIM AND LAFORCE
QUOTE
Meteoric Resources NL (ASX: MEI; “Meteoric” or the “Company”), a Canadian cobalt focussed explorer
is pleased to advise that it has entered into a conditional tenement sale agreement (Sale Agreement)
to dispose of its non-core Canadian Nickel-Copper projects, Midrim and LaForce, in consideration for
the issue of 31,250,000 shares in ASX listed TopTung Limited (ASX:TTW).

Based on the last trading price of TTW (being $0.049 per TTW share on 13 November 2018), the sale
of the Midrim and LaForce projects is valued at $1,531,250, which will increase the value of Meteoric’s
treasury holdings of cash and listed shares to approximately $4,000,000, ideally placing the Company
to both pursue the exploration of its Cobalt portfolio and other investment opportunities.


QUOTE
The key terms and conditions of the Sale Agreement are as follows:
• CNC will acquire 100% of the Midrim and LaForce projects from Meteoric.
• Completion of the acquisition is conditional on the satisfaction of various conditions precedent,
including:
o CNC and the holders of certain royalties applicable to the Midrim and LaForce projects
agreeing to the assignment of such royalties;
o TTW obtaining all required shareholder and regulatory approvals to complete the
acquisition and the transfer the Midrim and LaForce projects from Meteoric to CNC; and
o all conditions to the acquisition of CNC by TTW being satisfied or waived (other than the
condition relating to satisfaction or waiver of the conditions in the Sale Agreement).
• At completion TTW will issue Meteoric 31,250,000 TTW shares and Meteoric will transfer the
mining claims which comprise the Midrim and LaForce projects to CNC (or its nominee).
• Completion of the acquisition is dependent on completion of the acquisition of CNC by TTW
occurring such that completion under the Sale Agreement and completion of the CNC by TTW
must occur simultaneously.
• Meteoric has given representations and warranties to CNC and TTW that are customary for an
agreement of this nature.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 16 2018, 01:51 PM
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SP up 28.57% @ 1.8c - volume 3.3 mil shares on no news. Minutes later pause in trading, followed by trading halt - only to announce "disposal of an asset"? Hope it's a multi million dollar deal for those who bought into the "rally"? Hopefully not another twitter pump, or insiders with pre knowledge of the deal



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 21 2018, 12:22 PM
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In Reply To: blacksheep's post @ Oct 13 2017, 11:49 AM

QUOTE
The drilling program which comprised 11 holes for 970m was carried out in August 2018 and whilst most of the drill holes intersected the targeted fault / vein structures, results (Table 1) indicate that the system lacks the geological scale and metal grades to host sufficient polymetallic mineralisation to support modern day mining techniques.

Meteoric Resources MD, Dr Andrew Tunks commented:
“The assays for the maiden drilling program at Mulligan confirm we hit the targeted structures, however they did not intersect any major cobalt mineralisation. As such we will move our focus away from Mulligan and continue to progress our target generation program across our entire highly prospective portfolio.

“Whilst it is disappointing to not have success at our maiden drilling program, we have demonstrated that we have a strong technical team capable of systematically and efficiently exploring our cobalt projects. So we will immediately turn our focus to the recently flown airborne geophysics at Iron Mask, Mulligan East and Beauchamp where we are expecting strong targets based on existing historic working, associated with strong geochemical signatures. On top of this we have acquired, and are remodelling, airborne EM flown in 2012 to plan an extensive surface sampling program across multiple mineralised copper gold cobalt targets


SP hammered - down 36% currently @ 1.6c - not far off the "princely 1c" mentioned below. 12.5mil shares traded thus far. Hopefully the other results "due imminently" bring home the bacon for shareholders who bought on the hype.

A trip down memory lane - extract from Barry Fitzgerald's article back in October 2017

QUOTE
With the combination of midas-man Tolga Kumova on board, a strong cobalt flavour, polymetallic promise and strong impending newsflow, it seems Meteoric’s day may be about to dawn. And speaking of cobalt, Macquarie says the price outlook is superb, albeit a bit bumpy, for years to come thanks to electric vehicles.
Until quite recently, the share price performance of Meteoric Resources (ASX:MEI) was anything but meteoric.

Trading at a princely 1c a share in the opening months of the year, the market clearly wasn’t interested in its Webb diamond exploration joint venture in Western Australia or its Warrego North/Tennant Creek copper-gold hunt in the Northern Territory for that matter.

But things started changing around May when Meteoric, originally floated as a gold-copper explorer back in 2004, signalled that after giving its best in the hunt for something meaningful in the back blocks of Australia for the past 13 years, it was off to Canada.

Oh, and there was also the revelation that Tolga “The Brand” Kumova had snapped up a near-10% stake in the company.

Fast forward to this week and Meteoric copped a price and volume inquiry from the ASX, asking for an explanation why its shares had motored from 4.1c on October 3 to 7.3c by Monday.

In its response, Meteoric pointed to the July completion of its deal to secure a number of Canadian exploration properties (copper, nickel, platinum group metals, gold and cobalt), a write-up in a speculative resources newsletter and its recent lodgement of a company presentation for a road show this week taking in Perth, Melbourne and Sydney.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 22 2018, 09:59 PM
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In Reply To: blacksheep's post @ Jun 22 2018, 12:30 PM

Just reading MEI's presentation. When did this happen - Price of 1 ounce of gold = US$ 13,000 ?

QUOTE
Why do we like cobalt

COBALT VALUE
Price of 1 tonne cobalt = US$81,000
Value of 1 tonne of 1% Cobalt ore = US$810

GOLD VALUE
Price of 1 ounce of gold = US$ 13,000
Price of 1 gram of gold = US$ 42.00
Value of 1 tonne open pit ore 2g/t = US$ 84.00
Value of 1 tonne underground ore 7g/t = US$ 294
1.0% Co is gold equivalent to approximately 20g/t of Au





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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