Pinned straw:
31-Jan-2025: Murchison Development Update
Also: 29-Jan-2025: December 2024 Quarterly Activities Report plus December 2024 Quarterly Cashflow Report
It would be hard to argue that Meeka Metals' management aren't communicating regularly with their shareholders and prospective shareholders. Plenty of updates, and heaps of info plus photos in today's update. LOTS of photos!
I sold the last of my real money MEK shares recently at 10.5 cps to lock in the substantial profit I was sitting on with the position, however I am still following them closely. If they drop back down a fair way I may jump back onboard because I think their MGP is going to be a nice little earner for them, and I'm impressed by their management so far both in terms of execution and communication.
I still hold a virtual MEK position here in my Strawman portfolio, but not currently any in real life, having locked in my profits at $0.105.
Here's their latest timeline, taken from today's update:
So there's plenty of further newsflow expected during the next 5 months, however it remains to be seen just how much further MEK's SP can run pre-production considering they don't currently expect to be producing any gold before FY26 (as shown above).
They have had a nice strong tailwind with the rising A$ gold price - below is a snapshot of the gold price that I took yesterday afternoon:
A$ gold prices on the left, US$ gold prices on the right.
Obviously, a project developer like MEK are likely to have a falling share price if the gold price falls significantly between now and when they start processing ore in FY26 and producing gold, so my preference is currently to retain exposure to Australia's best gold producers who are taking advantage of the A$4,400+/ounce gold price right now as I see elevated risk with explorers and developers compared to multi-mine or even single-mine producers.
Disc: Holding here on SM, not in real life, having sold out in the past 2 weeks at 10.5 cps.
Appreciate the update and transparency as always @Bear77!
You're spot on, Meeka Metals (MEK) certainly are not shy in providing an update to Market! They have certainly benefitted from a decent run up in SP of late. I would guess that this is largely based on (1) the underlying strength in gold price and, (2) the array of updates to market in recent months - some of which being price/market sensitive around drill results and 'wins' regarding their continued progress to production.
I'm currently a holder of MEK both here on SM and IRL, and I will emphasize 'holder' as I do believe the MEK SP may have got a little ahead of it's skis. Given there is still a fair amount of time prior to production, and still lots of things the market may become upset with (things going wrong/not to plan, especially in mining) I would not be surprised if there was a pullback at some stage prior to them coming online. Will just need to confer with my crystal ball, still waiting for this one to work.
A large part of my thesis in this company is centered around competent, honest and communicative management. To be honest this is where management is key and whilst developers and certainly explorers are seen as more risky/speculative investments - if you have trust or knowledge of management, I do see this as a factor that can limit your downside risk. I don't normally dabble in this area, and only do when I either know management myself, or know of them through other contacts or connections. The WA gold space here is a a relatively small world over here and it's easy to know someone either directly or through others if you work in mining. I am fortunate to know some of the MEK management team, and my opinion of them is quite high. This is also the case for other explorers I have invested in IRL (not on SM).
Certainly continuing to watch MEK closely and looking forward to seeing them approach, and deliver on production - hopefully with gold at these levels or higher.