283 replies to this topic

[Krustytheclown]

Did you read the SENS QueenB?

It contained lots of new information that was not in the public domain before, so to say it was nothing more than we already knew is a bit of a false statement to say the least. For example:-

"With this initial ramp up now complete, the project can commence full commercial
production. The company is in advanced discussions with potential customers and offtakers
(including Keaton Energy, the owner of the Vaalkrantz Mine) with a view to securing long term
offtake agreements."

It was stated previously they were producing but not at full capacity and there was no real news about the prospect of new clients on the horizon.

[Queen B]

The SENS actually said nothing more than we already knew - hence no reaction

[Krustytheclown]

It was not a bad SENS, however this has been delayed for a while now and many people would have expected better news at this time. Progress is being made though and new contracts almost signed, so the patient will be rewarded in the end here. GLA.

[Sugafoot]

Not sure what to make of the SENS announcement.
Sounds great but very little info.
And there was hardly any reaction (actually none) to the announcement.

And why has the share lost some 22% in the last week or so?

[Trader1]

And here it is.

 

Update on the Commissioning of the Coal Briquetting Plant

Further to the announcement released on SENS on 15 October 2013, the board of MRI wishes to
update the market on progress with the briquetting project at Vaalkrantz Mine in KZN (“The
Project”). The project, which commenced operations from run of mine in October, has now installed
and fully commissioned the resuspension unit, allowing it to operate from the fines stockpile or the
plant. With this initial ramp up now complete, the project can commence full commercial
production. The company is in advanced discussions with potential customers and offtakers
(including Keaton Energy, the owner of the Vaalkrantz Mine) with a view to securing long term
offtake agreements. It is currently market testing product and expects to finalise arrangements
shortly.

A further announcement will be made in this regard.

17 January 2014

Designated Advisor

Sasfin Capital

[Krustytheclown]

Update from MRI will be this Friday, confirmed by Email to Quinton George and MRI this am as posted on ACP board on LSE.

"As a shareholder in ACP I wonder if you can provide some clarification.

Can you please confirm if you have now commenced commercial Coal Briquette production, confirmation of contracts and associated revenue. The statements made in the Interim Accounts all refer to forecasts and expectations neither of which provide shareholders with certainty.

I look forward to hearing from you."

Email reply from Quinton George

"MRI will release a SENS update on Friday to update everyone on the Coal briquetting progress.

Kind regards"

[Queen B]

Any day now.

This thread has gone very quiet. Seems to be no news forthcoming from MRI regarding the briquet project

[REDDEVON]

. turning dust to coal is cheaper than mining coal . does mri now how to do it ?  

Not only do they know how to do it, they are doing it.
"coal briquetting plant continues to progress well with conclusion hereof expected by the end of the year. During the commissioning phase, the Company has produced sufficient screened coal fines to provide bulk samples to possible interested customers"

http://minerestorati...-18_11_2013.doc

 

Just waiting for the nod from the customers and off we go.

 

GL. Peanuts.

 

RED.

 

 

[peanuts]

six directors resigned over a 7 month period . is this informed selling ? it looks desparet . other investors now also wants out . the sellers are running over the buyers . the seller is hiding behind iceberg sell orders . just give them nine cents , if you still believe . if your average is much higher than ten , you are in trouble and should propably not be here anymore . you now only play the one side . turning dust to coal is cheaper than mining coal . does mri now how to do it ?  

[REDDEVON]

Lots of 100,000 buys going through. Is this to keep the price down? News must be soon.

[ptomli]

% Move 10.00%   Volume

138,015

 

 

Ya, because yesterday it closed at 10, which was a 9.1% drop. 10 days ago it closed at 12, which means it went down 2c to close yesterday at 10, and now it's recovered half of that.

 

There is not a single sane, ration way you could explain what has happened thus far today as a 10% gain. It's back at yesterdays open. You certainly are not going to be day trading this thing, so who exactly has gained 10%?

[LAWW]

% Move 10.00%   Volume

138,015

 

28/11 11:05 AT 11 20,934   28/11 10:57 AT 11 89,900   28/11 09:03 AT 11 10,000

 

Steady day so far at MRI up 10% however off of 3 trades

 

Update could come today/tomorrow

 

Monday we enter 2nd December so an update cannot be far off as per the last Sens/RNS on the 18/11/13

 

GLA

DYOR

ATB

 

[REDDEVON]

Anybody feel MRI will update us today in re: coal briquettes ?

Any day now.

[LAWW]

Anybody feel MRI will update us today in re: coal briquettes ?

[LAWW]

26/11 12:28 AT 11 200,000
26/11 12:23 AT 11 255,529
26/11 12:23 AT 11 24,471
26/11 12:17 AT 11 80,000
26/11 11:56 AT 11 154,471
26/11 11:56 AT 11 345,529
26/11 09:02 AT 11 27,208
26/11 09:02 AT 11 4,402

Volume 1,091,610
Deals 8

All Look like BUYS to me

Volume creeping UP

 

Krusty, I thought the connection was all too perfect TBH buddy and susprised you hadn't presented it on the other side, so initiative wise made sense to adapt + share on the other side. ..

 

I recall you did previously utilised a fellow members post last month - 'Malcolm A's' I believe ?, S'all good baby, We are in this together and I shall see it through to the end, hope to share the journey with fellow investors

 

ATB GLA

[Krustytheclown]

Laww, you little rascal you!

You have utilised my last post here and adapted it to fit the ACP situation on the LSE board and it was all done so seamlessly.

It goes to show how interlinked these two companies actually are when you can regurgitate posts in such a way.

HEYHEYHEY.

[Krustytheclown]

Volume picking up again here. I had to laugh at posters saying they were concerned about the poor financials. This is a new business. Inevitably it will have significant set up costs. What I am investing in is the undoubted potential from a sound business plan, which is now operational.

From Armadale Capital RNS

"Justin Lewis, Director of Armadale and a member of the MRI Board said, “We are pleased to report that MRI’s coal briquetting plant successfully commenced operations in October 2013. The Board of MRI believe that this commercial development will contribute to the overall profitability of the MRI group as they continue to ramp up production. I look forward to providing further updates on the anticipated expansion in production in due course."

I believe these financials will begin to look after themselves.

All positives in my book. GLA.

[Goliath]

Jeesh u guys are milking this one..? Why would you invest in this company currently, they couldn't even get their trading statement right..?

[Trader1]

The slide set was from the launch last year in July 2012. A lot has changed. The forecast was based on production starting in April 2013. Costs have been incurred due to delays that were not expected - this is just a disclaimer as not to mislead potential investors with the forecast.

I'm still excited to see what happens.

[Trader1]

http://www.trinityam...30072012_JS.pdf
Page 11 has Dec. Forecasts

Financials out tomorrow, will we have briquette news too? Got to be in it to win it! Revenue on its way.