Our opinion on the current state of MANTENGU(MTU)Previously known as Mine Restoration, this company invests in mining resources. It owns the Langpan Project, which mines and processes chrome with a high concentration of platinum group metals (PGM). The Langpan orebody consists of 3.1 million tonnes of open cast resource and over 4.9 million tonnes of underground resource, as confirmed by the MSA Competent Persons report.
In its results for the year to 29th February 2024, the company reported revenue of R109.9m compared with R4.5m in the previous year. Headline earnings per share (HEPS) was 1c compared with a loss of 12c in the previous year. The company said, "The most pleasing aspect is the fact that these results were achieved with the Langpan LG plant only operating at a steady state level from January 2024, and for the last two months of the financial year. Approximately R60.1 million of revenue was generated during these two months."
The share trades an average of R141,000 each day, and the price has been rising. It remains a risky commodity share due to the volatility inherent in the mining sector and the reliance on commodity prices. However, the recent operational success and revenue growth indicate potential for future performance.
MTU trade ideas
Our opinion on the current state of MTUPreviously known as Mine Restoration, this company invests in mining resources. It owns the Langpan Project which mines and processes chrome with a high concentration of platinum group metals (PGM). The Langpan orebody consists of 3.1 million tonnes of open cast resource and over 4.9 million tonnes of underground resource, as confirmed by MSA Competent Persons report.
In its results for the six months to 31st August 2023 the company reported revenue of R13m and a loss of R16m or 10c per share. The company has R63,5m worth of assets and R254m worth of liabilities.
In a trading statement for the year to 29th February 2024 the company estimated that it would make headline earnings per share (HEPS) of between 0c and 1c compared with a loss of 12c in the previous year.
It is an untraded, loss-making penny stock which is apparently technically insolvent. It is clearly not suitable for private investors at this time.
Our opinion on the current state of MTUPreviously known as Mine Restoration, this company invests in mining resources. It owns the Langpan Project which mines and processes chrome with a high concentration of platinum group metals (PGM). The Langpan orebody consists of 3.1 million tonnes of open cast resource and over 4.9 million tonnes of underground resource, as confirmed by MSA Competent Persons report. In its results for the year to 28th February 2023 the company reported revenue of R4,49m and a pre-tax loss of R22,1m. The company said, "On 27 July 2022, Mantengu acquired 100% of the issued share capital of Langpan Mining Co Proprietary Limited. Mantengu have presented the Group’s 2022 financial results for the prior year ended 28 February 2022 under the reverse takeover principles". In a trading statement for the six months to 31st August 2023 the company estimated that it would make a headline loss of between 9,5c and 10,5c compared with a loss of 5c in the previous period. This is an untraded mining penny stock and clearly not suitable for private investors at this time.