Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

8 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

MEI, METEORIC RESOURCES NL
blacksheep
post Posted: Yesterday, 07:38 PM
  Quote Post


Posts: 6,130
Thanks: 2193


In Reply To: blacksheep's post @ Yesterday, 10:59 AM

Might receive a Please Explain from ASX

SP ended the day up 16.67% @ 4.9c. Days range 4.3c - 5.3c. Volume 27.5mil. A day traders delight today. Trouble is, DT's are usually long gone before the music stops


Attached thumbnail(s)
Attached Image


 




--------------------
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: Yesterday, 10:59 AM
  Quote Post


Posts: 6,130
Thanks: 2193


In Reply To: blacksheep's post @ Aug 21 2019, 08:27 PM

Barry Fitzgerald's new article - Why Tolga Kumova backs Meteoric - https://stockhead.com.au/resources/barry-fi...backs-meteoric/

QUOTE
Meteoric was a 1.2c stock back on April 1 and it has since motored on to 4.2c as things in its Amazon Basin gold hunt heat up, with Kumova having recently kicked in another $900,000 at 3.2c to a $2.7m placement by Meteoric to keep the momentum going.


Fails to mention it was previously pumped up to a high of 7.8c on the back of the "cobalt boom" in October 2018 when he penned this article - Meteoric rise for Meteoric as it pushes into Canada -
QUOTE
13th October 2017
Barry FitzGerald
Until quite recently, the share price performance of Meteoric Resources (ASX:MEI) was anything but meteoric.


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

https://www.resourcesrisingstars.com.au/new...t-pushes-canada

Hopefully the gold price doesn't go the same way as the cobalt price and that these wildfires are a safe distance from MEI's projects - https://twitter.com/StormchaserUKEU/status/...174812673130496
Attached thumbnail(s)
Attached Image

Attached Image


 




--------------------
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: Aug 21 2019, 08:27 PM
  Quote Post


Posts: 6,130
Thanks: 2193


In Reply To: blacksheep's post @ Aug 16 2019, 11:37 AM

Looks like Tolga Kumova was one of those "small number of strategic investors" who stumped up - 29-odd mil shares.

Noticed this article about wildfires raging through the Amazon. The accompanying satellite image seems to suggest some fires could be in the area of MEI's projects in the
north of Mato Grosso state Central Brazil. - see ABC article.
https://www.abc.net.au/news/2019-08-21/wild...d-rate/11434866
Attached Image



This NASA Map was taken 5/6/19
Attached Image


Attached Image





--------------------
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: Aug 16 2019, 11:37 AM
  Quote Post


Posts: 6,130
Thanks: 2193


In Reply To: blacksheep's post @ Aug 12 2019, 12:22 PM

The "small number of strategic investors" who stumped up $2.7mil CR @ 3.2c must be pleased with today's ann. SP up currently 11.11% - days range 4c - 4.4c - volume 12.9 million

QUOTE
16 August 2019
VISIBLE GOLD INTERSECTED IN FIRST DRILL HOLE
Highlights
 Meteoric’s first Diamond Drill Hole at Juruena JUDD001 intersects visible gold within a 16m
wide alteration zone at Dona Maria Prospect
 JUDD001 was designed to confirm Bonanza grades at Dona Maria prospect
 Drilling to date has intercepted multiple alteration zones and are now being geologically
logged and sampled
 Second rig has begun drilling, ramping up to 2 shifts so drilling production rates will now
increase




--------------------
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: Aug 12 2019, 12:22 PM
  Quote Post


Posts: 6,130
Thanks: 2193


In Reply To: blacksheep's post @ Aug 9 2019, 10:41 AM

$2.7m placement to a "small number of strategic investors" - 84,375,000 New Shares at an issue price of $0.032 per share, CPS Capital is Lead Manager to the Placement - Jason Peterson/Tony Cunningham (the latter of HC fame now branching out into Stocks In Play - and look who got a photo op https://twitter.com/stocksinplayAU/status/1...727431735300096 MEI substantial holder Tolga Kumova) https://www.cpscapital.com.au/team/

The placement was described as a "premium" and a slight "discount" - " representing an 8.4% premium to the 30-day VWAP and a 3% discount to the 10-day VWAP up to and including 8 August 2019" rather than telling it as it is - SP pumped up to 4c to give this small number of SOF's some more cheap shares @ 3.2c.

QUOTE
Meteoric now fully funded for an expanded drilling program


Let's hope so!

QUOTE
Managing Director Andrew Tunks said, said: “Recent exploration at the Juruena and Novo Astro
prospects has increased the Company’s confidence in the discovery potential of Meteoric’s Brazilian
assets. Over the last few weeks, diamond drilling at Juruena commenced and two rigs are currently onsite
drilling double shifts at Dona Maria (Juruena).

“Additional first pass exploration has been underway 30km to the east at Novo Astro and has recognised
thick zones of alteration and mineralisation within basement rocks that have been the target of extensive
artisanal mining (ASX:MEI 01/08/2019). It is the Company’s opinion that the targets at Novo Astro
warrant a large and detailed drilling program far in excess of its early expectations.

“The new capital injection will be used to bring in additional drilling capacity to effectively run two
exploration teams working in tandem, one at Juruena and one at Novo Astro to immediately grow an
understanding of the geology and gold distribution at these exciting bonanza-grade gold
projects. Crucially the Novo Astra program can now scale up without affecting the Company’s strong
focus on Juruena, allowing both projects to be tested over the coming months, concurrently expanding
and fast tracking our initial plans.”





Attached thumbnail(s)
Attached Image



 




--------------------
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: Aug 9 2019, 10:41 AM
  Quote Post


Posts: 6,130
Thanks: 2193


In Reply To: blacksheep's post @ Aug 1 2019, 08:26 PM

Posted 1 August 2019 - "So let's hope the drilling results are enough to stir up interest before the next CR"

Boy that was quick biggrin.gif In a trading halt this morning pending "material" cap raise. Material? Cornerstone investor?.

Noticed how the SP had been rising in the last couple of days on NO news other than their ann on 1 August - NOVO ASTRO – IMMEDIATE DRILL TARGETS
IDENTIFIED UNDER HISTORIC WORKINGS.

So, buyers hoping for good news, insiders buying on news not available to the market, or someone pushing up the SP in preparation for this CR? The last Share Purchase Plan in March 2019 was at a subscription price of $0.01 per Share. The SP finished yesterday $0.04 - allows for a bit of a discount

If results are imminent why are they not made public prior to the CR?

extract from 1 August 2019 ann

QUOTE
Our first batch of 36 samples from Novo Astro have been dispatched to the lab and we should have results
within weeks. Of course, this is all happening simultaneously with the Juruena drilling program, which has
already kicked off at the first targets at the high‐grade Dona Maria prospect.
This is a very exciting time
indeed fo r Meteoric.

Attached thumbnail(s)
Attached Image


 




--------------------
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: Aug 1 2019, 08:26 PM
  Quote Post


Posts: 6,130
Thanks: 2193


In Reply To: blacksheep's post @ Apr 7 2019, 01:46 PM

What a difference a year makes.

QUOTE
27 February 2018 METEORIC ANNOUNCES CANADIAN COBALT STRATEGY
Meteoric’s MD Dr Andrew Tunks commented: “Our plan now is Cobalt Cobalt Cobalt and to get the drill rigs turning as soon as possible.


From the June Qtrly "cobalt, cobalt, cobalt" is out and "gold, gold, gold" is in

QUOTE
During the previous quarter the Company’s Canadian assets were placed under a review status, no work was completed on the Canadian projects during the quarter.


Good to see TK back on the MEI promotion - assume "ring" is "rig" - he took up additional shares @ 1c in recent CR

QUOTE
$MEI So when you bring an extra diamond ring immediately to drill an untested target you know somethings up.


Not necessarily - extra rigs didn't do much for cobalt, cobalt cobalt sadsmiley02.gif

Cash in kitty @ 30/6/19 = $2.5 mil
Estimated cash outflows 3Q2019 = $1.0 mil

So let's hope the drilling results are enough to stir up interest before the next CR


Attached thumbnail(s)
Attached Image


 




--------------------
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: Apr 7 2019, 01:46 PM
  Quote Post


Posts: 6,130
Thanks: 2193


Barry FitzGerald: A few things Tolga Kumova told us about his stake in Meteoric Resources
QUOTE
Melbourne’s bustling mining investor Tolga Kumova has taken a shine to the switch in focus by Meteoric Resources (MEI) from Canadian cobalt to high-grade Brazilian gold.

Fresh from raising more than $500,000 at a kid’s charity day with his broker mate Ben Kay at their Mingela Polo Club near Daylesford in country Victoria, Kumova has just increased his Meteoric stake to 10.6%.

The increase comes from his involvement in Meteoric’s $2.64 placement and share purchase plan in support of its acquisition of the Juruena and Novo Astro projects in central Brazil from the restructuring ASX-listed Crusader Resources (CAS).

Kumova told Garimpeiro that while it was the high-grade and near-term production potential of Juruena that got him excited, both projects come with potential big porphyry gold-copper upside.


Guess he had to take a "shine" to the switch - the excitement over the previous cobalt prospects - the reason he got on the MEI register (according to previous BF article "https://www.resourcesrisingstars.com.au/news-article/meteoric-rise-meteoric-it-pushes-canada") seems to have gone. Glad to see BF lose the "Midas Man" tag, although not sure why he included charity comment/how that fits in with MEI?

Some interesting background into the previous owners, ASX-CAS, of the Brazilian assets being acquired by MEI. Seems there was a proposed acquisition of CAS by PLC listed STRATEX INTERNATIONAL PLC.

QUOTE
An offer to buy ASX-listed gold play Crusader Resources is under threat as disgruntled shareholders of would-be suitor Stratex International seek to terminate the $54 million deal and overthrow the Stratex board.
Stratex — which is listed on London’s AIM exchange — says shareholders representing a 24 per cent stake have asking for a general meeting to vote on the termination of its takeover offer for Crusader (ASX:CAS).

The shareholders are also demanding the removal of CEO Marcus Engelbrecht and chairman Christopher Hall to be replaced with David Hall and Paul Foord, both members of the requisitioning shareholders.

Hall and Foord are both former directors of Stratex, who each resigned from the board to pursue other career opportunities.

Hall is the CEO and Foord the CFO of Thani Stratex Resources Limited (TSRL), in which Stratex holds a 30 per cent stake. Stratex’s joint venture partner in TSRL is Thani Emirates Resources Holdings, one of the requisitioning shareholders


Extracts from the Requisitioning Shareholders reasons why the acquisition of CAS was not prudent
QUOTE
Page 7
The Requisitioning Shareholders argue that these assets are questionable on economic grounds. The assets have had over US$100 million invested to date and Borborema is advanced in terms of a completed and economically attractive pre-feasibilty study with the majority of the BFS completed. The Board believe that there is significant optimisation to be achieved at Borborema and that they, together with the Crusader directors to join the Board upon completion of the Acquisition, collectively have the skills and experience to deliver on this.

The Requisitioning Shareholders argue that Brazil is not aligned with where the Company traditionally operates, but Brazil, as a jurisdiction, is mining friendly and has, over the last few years, seen the implementation of labour legislation which has significantly improved the ability for flexible labour contracts. There has been also been a move towards a much more flexible, modern, open-market economy that is attracting considerable investor interest.

Page 9
Resource Grounds. The undeveloped assets in Brazil have been around for some time for a reason:
* The two potential gold resources are questionable on economic grounds.
* Numerous other companies have considered acquiring the concessions and have not proceeded
* STI doesn’t have the insight nor expertise to prove otherwise.


https://orioleresources.com/wp-content/uplo.../c113465CCL.pdf

CV of the two former STI directors directors/Requisitioning Shareholders - Hall and Foord - Hall in particular seems highly qualified to assess a quality gold asset
QUOTE
David J. Hall MSc Minex, Fellow S.E.G. EurGeol
Chief Executive Officer
Thani Stratex Resources is led by David J. Hall. David is an economic geologist with 35 years worldwide experience and established the new AngloGold exploration team in South America in 1999. He took the company into Colombia and resulted in the discovery of the giant La Colosa gold deposit (+20Moz).

David is founder of Stratex International Plc and also Horizonte Minerals Plc both AIM listed companies. He is also a founder of Rathdowney Resources, Medgold Resources and Erris Resources. David is first and foremost a field economic geologist. In Egypt, as Exploration Manager for Minex from 1985 to 1989 he discovered the Abu Marawat and Hamama deposits. He also managed the exploration team responsible for the discovery of the new Afar Epithermal Gold Province in Ethiopia and Djibouti, now one of the TSR assets.

He is responsible for and led teams for discovery of Romero in Dominican Republic (2.6Moz), Zarshuran in Iran (+3Moz) and Oksut in Turkey (1.25Moz) and has been involved in all levels of exploration and development.

Paul Foord Bsc. MBA. FCCA. FIPD
Chief Financial Officer
Commercial CFO with extensive experience in business growth & improvement. Experienced in working for Private Equity owners and Banks where the agenda is focused on improved effectiveness, profitability and grooming for a corporate transaction.

Paul has had several careers. As a consultant he specialized in business strategy and business performance improvement with PricewaterhouseCoopers and then with Gemini consulting. As an accountant he has undertaken the role of finance director for several listed companies including the Land of Leather Group PLC and Willis PLC and a number of private companies including the Rotary Watch Group and The Notemachine Group.

http://thanistratex.com/about/management/






--------------------
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 26 2019, 09:07 PM
  Quote Post


Posts: 6,130
Thanks: 2193


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
  Quote Post


Posts: 6,130
Thanks: 2193


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.

Attached thumbnail(s)
Attached Image


 




--------------------
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
 
 


8 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING