La Mancha Resources Inc LMA.to/LACHF.pk C$.45
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Posted: Thursday Dec 3 12:14:39PM 2009
Big pop in La Mancha today. +.32 to C$2.21
LMA is my biggest gold position. Shares took off to above C$2 in October and I thought I had missed the peak.
Catalyst appears to be positive brokers recommend from Canaccord. They put a speculative price target of C$3.70 if gold reaches $1300.
Did a nice job of reviewing the company, including pros and cos.
Posted: Tuesday Oct 13 6:58:54AM 2009
LMA.to/Lachf.pk +.18 to C$1.91.
no news but La Mancha continues to make new 52wkhis.
My biggest gold position doing nicely. The potential of the VMS project in Sudan is being priced into LMA.
Posted: Monday Jul 13 2:57:51PM 2009
LMA.to has been retracing after soaring over $1 after Q1 results of .025eps and .0775 cashflow.
Dropped sharply at the open to .73 after closing at .81 Friday. I bought a few at .765. Stock is selling for a little over 2X cashflow.
Posted: Thursday May 28 9:15:22PM 2009
Huge move in La Mancha again today. +.12 to C$1.03
Very cheap, profitable gold producer.
3 mines, .024eps Q1 .077 cashflow
Selling for 10X fwd eps and less than 4 X fwd cashflow.
Posted: Friday May 8 9:53:37AM 2009
LMA.to +.14 to C$.65 Nice pop on good earnings report.
At .025eps, fwd p/e is now at 6.5. Still very cheap for a profitable gold miner. Cashflow of .0775 puts fwd price to cashflow at just over 2. LMA has good reserves approaching 2 million oz of gold and their goal is 4 million by 2011.
This is a nice little gold producer with significant upside potential. Areva, the huge French nuclear company spun off all their gold prospects to La Mancha in 2007. They have a huge remaining portfolio of prospects to explore. Areva is still the majority shareholder and has given La Mancha financing to finish their Frog Leg mine.
This is not your average junior with some land and some grab samples. This is a producing miner with 3 mines and a fourth ready to go. The ownership by Areva is a big plus, providing financing and the probability that La Mancha is going to survive any downturn in commodity pricing.
Posted: Friday Mar 27 8:07:01PM 2009
La Mancha posted 2008 results. They had a profitable Q4 that bodes well for 2009. La Mancha has three mines and is working on opening a 4th mine by early 2010.
Posted: Thursday Mar 26 4:44:34PM 2009
LMA.to/LACHF.pk La Mancha Resources Inc.
La Mancha got the gold prospects that were spun out of AREVA in 2006. They have 3 operating gold mines in Australia, Ivory Coast and Sudan. Total gold production for LMA was 71,550 oz in 2008. Company is guiding for 85 to 100,000oz in 2009 at a cash cost of $497, ramping up to 150,000 oz by 2011. They are preparing a fourth mine to open in early 2010.
La Mancha has been aggressively drilling to increase reserves and resources. A recent update put total reserves and resources at 2.4million oz with a goal of 4 million oz by 2011.
95,000 oz X $900 gold less costs of $497 = $38million projected for 2009.
143million shares fully diluted
.26/share cashflow for 2008
5 X .26 = my target of $1.30/share
I bought today at C$.45. Bobwins