Minotaur Exploration Limited is a junior mining company that is significantly undervalued according to the document. While the current market valuation of Minotaur's core copper-gold and nickel assets is only $4.9 million AUD, the company has a track record of realizing above book value from asset sales. Minotaur also has a strong balance sheet compared to other junior miners and continues to invest heavily in exploration through drilling programs, which are expected to provide ongoing news and opportunities to increase shareholder value.
Lincoln Crowne & Company Weekly report on the Australian Copper & Gold Sectors - dated 29 July 2013. Continuing soft conditions on the AUD providing ongoing support for Aussie gold producers
Lincoln Crowne & Company Weekly report on the Australian Copper & Gold Sectors - dated 29 July 2013. Continuing soft conditions on the AUD providing ongoing support for Aussie gold producers
Lincoln Crowne weekly report covering the Australian copper & Gold Sectors. Dominant theme this week the performance of the AUD vs USD and its impact on the Australian sector producers.
In 1995, Dr. Raymond Lombra, an economist at Pennsylvania State University, presented a 40-page report to U.S. Congress that demonstrated the benefits of including rare coins and gold in Individual Retirement Accounts (IRAs). This report addressed a 20-year-span from 1974 to 1993 and was commissioned by the Coalition for Equitable Regulation and Taxation (CERT) and paid for by the World Gold Council.
Why gold should be considered in an efficient portfolio to maximize the returns and minimize the risk? This ppt is able to answer this question to a great extent.
Lincoln Crowne weekly report covering the Australian copper & Gold Sectors. Dominant theme this week the performance of the AUD vs USD and its impact on the Australian sector producers.
In 1995, Dr. Raymond Lombra, an economist at Pennsylvania State University, presented a 40-page report to U.S. Congress that demonstrated the benefits of including rare coins and gold in Individual Retirement Accounts (IRAs). This report addressed a 20-year-span from 1974 to 1993 and was commissioned by the Coalition for Equitable Regulation and Taxation (CERT) and paid for by the World Gold Council.
Why gold should be considered in an efficient portfolio to maximize the returns and minimize the risk? This ppt is able to answer this question to a great extent.
Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class metallic mineral deposits in mineral-rich Alaska, southwest USA, and Mexico, Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. Millrock currently has twenty-two active exploration projects, eight gold-copper and zinc properties in Alaska, a porphyry copper prospect in Arizona, a uranium project in New Mexico, and twelve gold, silver and copper projects in Mexico. Funding for Millrock’s exploration projects primarily comes from its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: First Quantum, Teck, Kinross, Vale, Inmet and Altius.
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Cosmetic shop management system project report.pdfKamal Acharya
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The automated cosmetic shop management system should deal with the automation of general workflow and administration process of the shop. The main processes of the system focus on customer's request where the system is able to search the most appropriate products and deliver it to the customers. It should help the employees to quickly identify the list of cosmetic product that have reached the minimum quantity and also keep a track of expired date for each cosmetic product. It should help the employees to find the rack number in which the product is placed.It is also Faster and more efficient way.
Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
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About
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
• Remote control: Parallel or serial interface.
• Compatible with MAFI CCR system.
• Compatible with IDM8000 CCR.
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
• Easy in configuration using DIP switches.
Technical Specifications
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
Key Features
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
• Remote control: Parallel or serial interface
• Compatible with MAFI CCR system
• Copatiable with IDM8000 CCR
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
Application
• Remote control: Parallel or serial interface.
• Compatible with MAFI CCR system.
• Compatible with IDM8000 CCR.
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
• Easy in configuration using DIP switches.
Saudi Arabia stands as a titan in the global energy landscape, renowned for its abundant oil and gas resources. It's the largest exporter of petroleum and holds some of the world's most significant reserves. Let's delve into the top 10 oil and gas projects shaping Saudi Arabia's energy future in 2024.
Sachpazis:Terzaghi Bearing Capacity Estimation in simple terms with Calculati...Dr.Costas Sachpazis
Terzaghi's soil bearing capacity theory, developed by Karl Terzaghi, is a fundamental principle in geotechnical engineering used to determine the bearing capacity of shallow foundations. This theory provides a method to calculate the ultimate bearing capacity of soil, which is the maximum load per unit area that the soil can support without undergoing shear failure. The Calculation HTML Code included.
Sachpazis:Terzaghi Bearing Capacity Estimation in simple terms with Calculati...
Minotaur Stands Out Amongst Junior Miners, Presentation February 2015
1. 1
Minotaur stands out amongst junior miners
February 2015
Minotaur Exploration Limited | ASX: MEP
2. 2
Minotaur appears to be signicantly undervalued
§ By subtracting the market valuation of Minotaur’s listed investments and the book value of Minotaur’s non-core
assets, the current market implied Enterprise Valuation (EV) for Minotaur’s core copper-gold and nickel assets
is only A$4.9M
§ Minotaur’s track record of realising above book value for non-core assets is instructive (for example, sale of Roxby Downs
tenements to BHP Billiton (FY2012) realised A$9.5M cash compared to A$1.0M book value)
Negligible value currently ascribed to Minotaur’s core business
Source: IRESS, company filings
Notes:
1 Listed investments: includes shares held in Mungana Goldmines, Petratherm, Thomson Resources and Mithril Resources with valuations based on market data as at ASX close on 12-Feb-15
2 Gypsum sale proceeds: cash payments agreed to be made upon completion of conditions precedent as per Minotaur announcement on 20-Oct-14
3 Other industrial minerals: book value as at 31-Dec-14 after A$4.1M impairment of Exploration Assets
NON-CORE ASSETS
Market implied
value for Minotaur's
core copper-gold
and nickel assets
1 2
3
$21.6 $6.7
$14.9 $0.9
$4.8
$4.3
$4.9
Market value
@ A$0.12
Cash
(31-Dec-14)
EV Listed investments Gypsum sale proceeds Other industrial
minerals
Adjusted EV
3. 3
Minotaur share price performance
§ In mid 2014 Minotaur’s share price experienced a
period of outperformance
§ Since late August, despite a record of acute
operational and corporate success, the price benet
has entirely eroded
§ Achievements since August 2014 include:
ü Sep – successful EM conrms Artemis down-dip extension;
body projected to 235m depth
ü Oct – agreed sale of Gypsum project (A$4.8M)
ü Oct – funding certainty achieved with successful A$3M SPP
plus A$1M placement
ü Dec – continued Artemis drill success; 20m @ 2.7% Cu,
12.3g/t Au, 5.3% Zn, 2.3% Pb, 170g/t Ag from 154m
ü Jan – down plunge extended at Artemis — 19.9m @ 1.4%
Cu, 0.8g/t Au, 1.8% Zn from 225m
§ Deep drilling underway at Artemis, testing down-dip
and down-plunge extensions of massive sulphide
mineralisation
Minotaur’s share price declined notwithstanding continued positive newsow from
the Artemis Cu-Au-Zn discovery, with drilling continuing
Source: IRESS
Notes:
1 ASX Small Resources Index rebased to the Minotaur share price as at 12-Feb-14
flat
(26%)
-
5.0
10.0
15.0
20.0
25.0
30.0
Feb-14 May-14 Aug-14 Nov-14 Feb-15
Minotaur 12 month share price performance (Acps)1
Minotaur ASX Small Resources (rebased)
4. 4
Minotaur is committed to discovery…
But not so for Minotaur – 4Q 2014 marked our largest spend on exploration over the
past 2 years
§ Minotaur is investing more on exploration than the average for metals & mining companies 2-3x our current size
§ Continuing signicant exploration investment through 2015 will continue to provide share price catalysts
Exploration expenditure has declined since 2Q 2013 for the majority of the ASX junior
metals & mining universe
Source: IRESS
Notes:
1 ASX-listed GICS Metals & Mining companies with a market capitalisation <A$50M
Metals & mining companies
Minotaur (ASX: MEP)
A$10M – A$20M
A$20M – A$30M
A$30M – A$40M
A$40M – A$50M
market cap
<A$10M
-
0.5
1.0
1.5
2.0
2.5
3.0
Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14
Average junior miner exploration expenditure per quarter (A$M)1
5. 5
- 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0+
31-Dec-13 junior metals & mining cash balance distribution (A$M)1
- 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0+
31-Dec-14 junior metals & mining cash balance distribution (A$M)1
…and is one of very few well capitalised juniors…
§ The average cash balance of junior metals & mining companies decreased from A$2.9M to A$2.6M over the past 12 months
§ Minotaur continues to maintain a strong balance sheet despite signicant ongoing exploration expenditure
Minotaur is well capitalised relative to most other junior metals & mining companies
Average = A$2.6M
Average = A$2.9M
A$6.7M
A$7.3M
Source: IRESS
Notes:
1 ASX-listed GICS Metals & Mining companies with a market capitalisation <A$50M
6. 6
Minotaur Exploration
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0
Administration(A$M)
Exploration (A$M)
Average 2014 small explorers’ Quarterly cash expenditure1
…using cash to create value for shareholders…
Minotaur invests proportionately more on exploration than other small cap explorers
Source: IRESS
Notes:
1 ASX-listed GICS Metals & Mining companies with a market capitalisation <A$50M and excludes juniors with production
§ Minotaur continues to invest proportionately more money in exploration while maintaining administration overheads
at modest levels (approx. A$0.5M per Quarter)
ASX junior explorer trend-line
-
-
7. 7
…while innovating through R&D
Minotaur maintains an active research and development program
§ Minotaur leverages its intellectual property through active R&D directed towards new discovery
methodologies and product development, such as;
² Geophysical anomaly discrimination (‘seeing through’) ultra conductive cover (overburden)
² Product innovation from kaolin and halloysite stocks
² Discovery tools for iron sulphide copper-gold mineralised systems
² Mineral systems mapping using new technologies
§ Annual refunds from ATO for R&D investment are typically in the $0.6M to $1.1M range
8. 8
A compelling investment case
§ Enviable record of exploration success – core geology team responsible for Prominent
Hill Cu-Au discovery continues to guide Minotaur
§ Significant exploration potential given focus and quality of core assets
§ Innovative funding model underpinned by strategic JV alliances
§ History of responsible capital management with strong balance sheet and clean capital
structure
§ High profile share register and supportive JV partners
§ Clear asymmetric payoff profile given implied value currently ascribed to Minotaur’s
strategic copper-gold portfolio and advanced nickel assets is only A$4.9M
§ Actively monetising non-core assets to realise additional value for shareholders
§ Substantial news flow expected from drilling at Artemis over the coming months
Minotaur is a standout explorer on the ASX
9. 9
This presentation has been prepared by the management of Minotaur Exploration Limited (“Minotaur”, ASX: MEP) for the general benefit of analysts, brokers and
investors and does not constitute specific advice to any particular party or persons. Information herein is based on publicly available information, internally
developed data and other sources. Where an opinion, projection or forward looking statement is expressed in this presentation, it is based on the assumptions and
limitations mentioned herein and is an expression of present opinion only. No warranties or representations are made or implied as to origin, validity, accuracy,
completeness, currency or reliability of the information. Minotaur specifically disclaims and excludes all liability (to the extent permitted by law) for losses, claims,
damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information, its accuracy, completeness or by reason
of reliance by any person on any of it. Where Minotaur expresses or implies an expectation or belief as to the success of future exploration and the economic
viability of future project evaluations, such expectation or belief is expressed in good faith and is believed to have a reasonable basis. However, such projected
outcomes are subject to risks, uncertainties and other factors which could cause actual results to differ materially from projected future results. Such risks include,
but are not limited to, exploration success, metal price volatility, changes to current mineral resource estimates or targets, changes to assumptions for capital and
operating costs as well as political and operational risks and government regulatory outcomes. MEP disclaims any obligation to advise any person if it becomes
aware of any inaccuracy in or omission from any forecast or to update such forecast.
Disclaimer