Meeka Metals (ASX: MEK)

City Investors Circle are initiating coverage of Meeka Metals, as soon to be in production gold producer located near Meekathara in Western australia.

Meeka are restarting a former producing gold mine, and exploring the region to add more ounces to increase the current 10 year life of mine.

 

 

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	Meeka Metals	ASX: MEK
	Stage	Development, exploration
	Metals	Gold
	Market cap	A$248m   @  A$0.97
	Location	Near Kalgoorlie, Western Australia
	Website	https://meekametals.com.au

 

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	Meeka Metals	Stock Profile
	Shares Ourstanding	2,375 billion
	Options	138 million
	Fully diluted	2,613 billion
	Cash	A$ 55 million
	Debt	NIL

 

 

Meeka Metals – Initiating coverage

 

Meeka Metals (ASX: MEK) have all the ingredients I personally look for in a company I am consodering investing in.

• Tier 1 Jurisdiction  ✔
• Experienced management  ✔
• Zero Hedging  ✔
• Zero Debt  ✔
• Funded to Production  ✔
• Imminent production (mid 2025)  ✔
• Management ownership >5% ✔
• Large institutional ownership (40%)  ✔
• Fully Permitted ✔
• Infrastructure in place  ✔

Meeka is never going to be a huge gold producer, but at the current gold price the economics and cashflow look good, and there is plenty of exploration potential in a prolific gold belt.

Neighbours include Catalyst’s Plutonic Mine and and Westgold’s Meekathara.

 

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Meeka Metals Limited (ASX:MEK) is an Australian listed company that explores and develops gold deposits in Western Australia. 

It has an experienced management team that have a history of creating shareholder value in Western Australia, and elsewhere.

The company’s main project is the Murchison Gold Project, at Meekathara, Western Australia.

Meeka is currently expanding the plant to increase throughput before commencing mining. The expansion is low capex and easy engineering.

The company are planning to restart two open pits and an underground operation to produce on average around 65,000 ounces of gold PA at an AISC of around A$1,950 (current gold price is A$4,388).

Open pit mining is scheduled to commence on the 1st March 2025.

 

A recent company presentation can be found HERE

 

To View Meeka Metal’s historical news, please click here

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The live Spot gold price can be found HERE

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This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Meeka Metals. 

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