Metals Explore Share Chat (MTL)

I wonder what happens next

Hi Les,
Why would you wish anyone to contact you if they had?

Nice tree-house, a bit more upmarket than the cardboard box I'll be living in if MTL goes belly up.

According to rare media accounts and a couple of bulletin board posts Candy was prepared to go down a convertible loan note route and according to the same reports Edwards blocked this avenue.

If they drag it out much longer then the listing will be withdrawn, they will need to go to the trouble (and cost) of a full re-listing document, this could technically have consequences on the Mining Licence which is essential for the debt holders, they also risk minority shareholder wrath, some of which could apply pressure on the authorities in the Philippines.

Frankly the whole episode is a mess, surely driven by greed, the clock is ticking.

Not your usual upbeat tempo Roy, who knows we may get a reasonable offer from Solomon for our holdings, almost half-way through the suspension period - something has got to give or we will lose the listing September 9th

He spent £9 million just to have a large driveway so anything is possible.

https://www.dailymail.co.uk/news/article-7367579/Billionaire-Christian-Candy-bought-Surrey-neighbourhood.html

so

If anyone has written to the company or to the two major shareholders, or is thinking of writing in, would they please make contact with me at mtlsag25@gmail.com

Thank you,
Les
mtlsag25@gmail.com

Thanks Shin - But the future for MTL - I am convinced in my mind that the money is lost - I should not be saying that - I know but realism has to play a part in my future plans.

To hold on to the hope that someday soon my money will suddenly be real is not on my agenda, We have been let down big time but we should have realised that a company with such a debt would take time to recover - if at all.

The Gold price helped but also hindered for decisions - it is now down to a practical "Long term" agreement to be reached.

Our money will not suddenly re-appear - we will need to have even more patience to survive the imminent realistion when we have the decision.

Not meant to be all "Doom and Gloom" but patience if ever needed is needed more now.

Roy

Roy,
thanks for the boost I got on that ship that you are still on! You might guess that I jumped ship a bit early and am now strapped in to a similar ship that might be described as an orphan ship! I can give you a wave if this open hood craft catches up with your amazing ship. All the best for now!
Jimmy.

This is the email for Les and the action group. You will need to tell him your number of MTL shares and where they are held. It is doubtful he will be able to sort any historical questions over the whereabouts of your dosh.
mtlsag25@gmail.com

Have a look on advn forum for les email address and what to send him

Unfortunately not no.

Are you not registered as part of the action group?

Am I missing something what was the update?

Indeed, great detailed work, and it sets out the options very clearly. Regardless of the outcome, I am grateful for all the support here. Given they could get a great gold mince for a minimal sum by buying us out, it would be a good outcome. Of course the best outcome would to be still listed and refinanced. Lets see what the future bring.

Thanks for your hard work Les, hopefully it has paid of and we will be forever in your debt.

Absolutely as I have stated thanks even in my email.

What you have done Les is amazing. Thank you ever so much! The actions you’ve taken shall ensure the happiness and prosperity of many shareholders and carries a massive magnitude!
Many thanks and I wish you all the happiness and wishes.

Indeed excellent work Les and if we all make it through this I’ll owe you one hell of a drink.

Few bottles of whiskey to hand

Crazy to think if my calculations are correct another £40 million they could own the goldmine (6p)
That in my book is daylight robbery...

Well done Les...

CV

Great work Les. We are all indebted to you. Fingers crossed now. Let's all pull together and we can win.

Fantastic update, A huge thank you from myself for all the work going on in the back ground, great information, well done Leslie.

These are my thoughts.

Bad Scenarios:
- The major shareholders liquidate the company, we stand to lose our holdings and the shareholders incur massive losses.

-The major shareholders give us a bad debt refinancing deal with a bad d4e agreement which liquidates is and as a special resolution we reject it anyways.

Good scenarios:

-A good refinance deal and we continue trading and are relisted.

-The major shareholders agree upon a really good price which meets us in the middle. 5/6p per share.
Everyone’s happy. They get the company. We get a fair deal.

My conclusions: I hope the major shareholders see this and maybe just choose the less risky and most ideal option of buying us all out with a great share offer.
Both parties gain from this. I can imagine no one would complain with a share price of 5-6p per share and with rising gold prices the major shareholders won’t either.

What are your thoughts on this everyone?

Nomad quit if normally only if a company does something illegal and it comes to public knowledge.If lenders proceed ahead with D4E swap, atleast minority holders would get something back.

The nomad adviser is key because they seem happy with the current situation with no alarm bells ringing.
Normally when the PLC company loses there advisor they’re not happy with how the company is being managed.
The other gold companies shares are flying very high because gold price is surging ahead.
I wonder if they came up with a good deal for all what our current market value and share price would be?

CV

I guess that BOD tried to warn people in update where they said that current debt situation is unsustainable and any financial restructuring would invole D4E swap. I did raise my concerns back then that debt holders who are also major shareholders are looking to shaft small private investors as they seem to be pushing ahead with D4E swap at a time when production was all time high and gold price was rising. Company would have been in really strong position in couple of years to clear off a big chunk of that debt , but looks like these guys were planning it for sometime, firstly they were charging attrocious interest rates and then bough debt off banks at some discount and faiked to pass that discount on to company. When banks wanted to force company into placing to raise some funds , these very same guys stood up against it, as it would have diluted their holdings but they want to dilute minority shareholders heavily. But forming an action group was a prudent decision by minority holders and should help them.

Still nothing here. No action, no news.