Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MINERAL COMMODITIES LTD. We currently have 3 research reports from 1 professional analysts.
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MINERAL COMMODITIES LTD
MINERAL COMMODITIES LTD
Rising production profile, exploration appeal
24 Jun 16
Mineral Commodities (MRC) plans to complete its Tormin plant optimisation in July 2016. It is expected to increase heavy mineral (HM) recoveries and produce higher-grade, higher value-add products and result in additional production capacity and enhanced operating flexibility. MRC will be able to capitalise on its expanded exploration programme for high-grade resources in the region.
December quarter - in transition, uplift in 2016
05 Feb 16
Mineral Commodities (MRC) operates the Tormin mineral sands project in South Africa. This is differentiated by the high grades and profitability relative to its peers, even during the current period of subdued mineral sands prices. Technical enhancements are forecast to lift earnings. Exploration offers the potential for a larger and longer life operation.
Growing mineral sands producer
13 Aug 15
Mineral Commodities (MRC) has successfully transitioned from a mineral sands developer to a producer of small scale at its Tormin project, with scope to emerge as a large player through its Xolobeni ilmenite deposit. After a successful ramp-up, Tormin is being expanded, which will drive significant near-term earnings growth. Our base case NPV is A$0.21/share based on a four-year life at Tormin.
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
South Disouq spuds
20 Mar 17
SDX Energy announced this morning that it has spudded the South Disouq (SD-1X) well in Egypt, targeting gas and oil across a number of intervals. This is a high impact event for SDX Energy, as current company 2P reserves of 4.7mmboe (post acquisition) would be dwarfed by success at South Disouq (we model a 65mmboe field of which SDX holds 55% WI), which could be developed quickly due to existing pipeline infrastructure passing through the block. Our valuation for South Disouq is 6.8p/share, although on success we would expect notable de-risking. Our core NAV is 42p with a full NAV (including South Disouq) of 57p/share. The well is due to take 30-45 days, so we would expect a result in mid late April.