Large trades recently have made me suspicious of MNT. I'm in no way over-exposed and view today's purchase more as a gamble than an investment.

I bought today only because I can't see the price falling further and if a 10th of the hype comes true we could see significant gains for MNT from it's current price - currently 1.65 - 1.70 (27/05/03).

I used to hold MNT at 30p during the boom and sold out in the mid twenties.

Does anybody have any opinions re MNT?

Constructive opinions very welcome.

DE
i share some of your views. bought 50k for 18p......sold weeks later as the bubble burst for 33p. my best ever trade in terms of return but nothing has changed except mnt is no longer a stock market darling. too many lost and wont return, the promises remain unfullfilled. sorry to tell you i wont be returning. risk is one thing but this.........

good luck

You can expect this share to rise after this morning's announcement. MNT are gradually becoming more credible.


LONDON (AFX) - Minmet plc said it has signed a letter of intent with a
subsidiary of Gold Fields Ltd to create a joint venture to explore for gold in
the Western Dominican Republic.

MinMet has identified the area as having significant potential for the
discovery of high sulphidation gold-silver deposits similar to Pueblo Viejo as
well as large porphyry copper-gold systems in the Dominican Republic.

Gold Fields is to provide 250,000 usd for an initial six-month programme as
its first contribution to the joint venture.

MinMet CEO Michael Nolan said: "We are very pleased that a company of Gold
Fields' standing is prepared to support generative exploration proposals put
forward by MinMet's technical team."

MinMet has been active in the DR since May 2001 and has a significant
portfolio in east-central DR. It recently announced the discovery of porphyry
copper-gold mineralisation in the El Brujo concession, and gold mineralisation
from a new target at Bacco y Ofir.

The aim of the programme is to combine the geological knowledge and
geochemistry data collected to date with a new evaluation of the geology and
mineralisation styles and settings in Western DR to rapidly generate new quality
targets for follow-up.

newsdesk@afxnews.com

I am told I am not able to comment sensibly on this share. You should go to ADVFN and read Crystalblue if you want to see intelligent, balanced opinions.

Ignore them wendy.

We've just experienced one of the worst bear markets ever and practically all shares have gone down....you didn't call MNT wrong, the market re-rated all shares and you were caught in the tide.

Your eloquent and thourough research is welcome here so please continue.

I see that there have been some more useful trades today and these gradual increases in price are positive for all holders...even the cynical crystal.

Double Entry - to be fair I DID call Minmet wrong.

It didn't get re-rated, it fell over its own two feet and crashed to the ground - taking a lot of diehard true-believers like me with it.

At the outset I was too naive - later I was locked in. But you learn from mistakes. You especially learn from friends who know more than you do, and give their advice and information freely.

The company is now very, very slowly rebuilding a bit of credibility after last August's disaster. Several RNS announcements bearing reasonable, if not good news, have come out in the last few months. The price at last reflects a rough value of assets. In fact, their Irish house broker Davy reckon Minmet's worth about 2.3p per share today, based on half SRK's valuation of the total Bjorkdal package and using the intangibles for the rest of the assets. However, they ARE the house broker, and cannot be considered totally objective.

For those who want more info, there is a useful presentation, given at the recent AGM, on the company's website at www.minmet.ie. I also wrote an account of the AGM (being as objective as possible!) for Fillyaboots, which is posted on the Minex Forum there.

At least you can admit your own perceived failings Wendy. Fair play to you. I don't usually have time to trawl fyb as often as I'd like, but will check out yor appraisal.

Beau

wendy
good luck....i hear good things about you. always a good sign to be humble in defeat.

Looking at this share it seems undervalued based on what look like positive prospects. I have been in for a month or so and there's a fair amount of trading but the price stays fairly static.

I gather from others comments who have been here before that they got caught out because the share suddenly collapsed and seemingly it is nervousness that is holding it back now. I wonder if someone can let me know what caused the crach before. Was it just general market conditions or something about the company itself. Should I be cautious here?

Gantenbrink - go back to last August's Interim Results for Minmet.

I can't believe you've bought into a minex stock - albeit now a small producer as well - without digging up the background!

The price had been sliding for some 2 years from its way over-valued heights, due to consistent failure to deliver anything measurable from a large exploration portfolio. There was lots of talk but precious little delivery.

What caused the final collapse - and total destruction of confidence - was the failure of their small trial mining operation at Cotia Farm in Cuiaba, Brazil, to find gold which could be mined at a profit. This appalling news caused a writedown of the Cuiaba assets, and the company also took the opportunity to write down their Portuguese operation as well, which was on hold due to continual obstruction from the Portuguese government and results which had not been as good as expected.

I suggest that you visit the website and dig out the Annual Reports for the last couple of years, which are available as PDFs.

The price doesn't move much partly because of lack of confidence, and partly because it appears that Merrill Lynch are selling the rump of their once-large holding into any strength.

Having said all that, Minmet at today's price could produce a respectable return over the next couple of years if all goes well with the Swedish portfolio and the Bjorkdal mine. The exploration projects in Central and South America are a possible bonus on top of that....

Many Thanks Wendy D. I was looking perhaps too optimistically at the current explorations adn reckoning that they might begin to expand their prodution side

Well, Gantenbrink, you only made the same mistake as I made. But I made it over and over again!

There is little doubt that there are some healthy looking projects in the exploration portfolio. But most are a long way from delivering value.

So Minmet's future for the next 12 months or so depends on Bjorkdal. Their plans certainly include increased production and a return to mining in-pit ore, which SHOULD be achieveable. Current drilling is intended to (a) re-establish grade control within the pit, which William Resources abandoned when they ran out of dosh; (b) to upgrade the current resource to reserve status; and (c) to do a bit of poking about in adjacent areas. At the recent AGM (the presentation is on the website) David Hall gave a 'gelogical estimate' of about 3 million oz of contained gold in the pit and its immediate environs. That doesn't mean to say that 3 million ounces can be mined, of course - it's simply what existing drilling indicates is probably there. And he was quick to say that no value can be put on it. There re also some interesting figures from SRK - who are independent - which back up Hall's estimate.

You will also find the whole SRK report on the Bjorkdal package on the website - it's contained in the circular to shareholders.

At this price, it's not a bad buy, provided that all goes well....

Wendy - good post no: 11. Initial purchase made recently for medium term.

As previously mentioned by a poster above http://www.minmet.ie provides info on their projects with pictorial views.
recommend a visit to those doing research. LOL.