Malaco Take over at most 51 Days awayI continue to purchase shares as from this point going forwrad this is a great investment.
What is being said on other blogging sites; Mexicomike
Post by ladnarf » Fri Feb 05, 2021 5:32 am
Sorry yes my mistake it is MMY.V on the Venture not the TSX. They have been around as Monument for over ten years profitably running their Selinsing Malaysian gold mine and progressing their development gold project in Australia and the base metal Mengapur asset in Malaysia which they recently sold, so they haven't been rebranded or relaunched as something new, just not promoted and consequently not well known. Both gold assets are very viable projects with no red flags that I am aware of as is the 20% JV they have with ODY on the ASX, the issue has been Mengapur taking focus away from their development. There are a lot of long term shareholders who, understandably, are disgruntled with the slow progress and poor share price performance and are pushing for action with many wanting to monetise the assets by selling them, spinning them out or even selling the whole company and returning the capital to shareholders. Murchison in Australia has been the subject of interest before and similar projects have m/c's of 50 million even without a mill in place which Murchison has. Should they sell Murchison they would have well over 100 million dollars in cash, maybe as much as 120 million backing their 40 million m/c and still be operating the Selinsing gold mine. Management's stated intent is to start producing at Murchison and become a solid junior gold producer operating two mines which would obviously also be a big win. A lot depends on the new Director, Dato’ Sia Hok Kiang, who has just joined the board. He's well thought of and well connected, he's the chairman of Malaco Mining who are a major shareholder in Monument, I think they have 50 million shares which they are underwater on, so he is motivated to get the share price up which hasn't been a priority in the past with the board not being large shareholders.
Post by ladnarf » Fri Feb 05, 2021 5:32 am
Sorry yes my mistake it is MMY.V on the Venture not the TSX. They have been around as Monument for over ten years profitably running their Selinsing Malaysian gold mine and progressing their development gold project in Australia and the base metal Mengapur asset in Malaysia which they recently sold, so they haven't been rebranded or relaunched as something new, just not promoted and consequently not well known. Both gold assets are very viable projects with no red flags that I am aware of as is the 20% JV they have with ODY on the ASX, the issue has been Mengapur taking focus away from their development. There are a lot of long term shareholders who, understandably, are disgruntled with the slow progress and poor share price performance and are pushing for action with many wanting to monetise the assets by selling them, spinning them out or even selling the whole company and returning the capital to shareholders. Murchison in Australia has been the subject of interest before and similar projects have m/c's of 50 million even without a mill in place which Murchison has. Should they sell Murchison they would have well over 100 million dollars in cash, maybe as much as 120 million backing their 40 million m/c and still be operating the Selinsing gold mine. Management's stated intent is to start producing at Murchison and become a solid junior gold producer operating two mines which would obviously also be a big win. A lot depends on the new Director, Dato’ Sia Hok Kiang, who has just joined the board. He's well thought of and well connected, he's the chairman of Malaco Mining who are a major shareholder in Monument, I think they have 50 million shares which they are underwater on, so he is motivated to get the share price up which hasn't been a priority in the past with the board not being large shareholders.