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It’s great news to build on. IMO DB has not put a foot wrong since his appt. As pointed out he is our best asset. Hope retired gets to hear the news soon.
Who knows what there intentions are, but I know this is a once in a lifetime money making opportunity.
Good luck all and I'm personally staying to the end.
Far to much positive news to be announced over the couple ahead...
CV
To be fair if they did want to take company private they could have found a way at any time with their majority holding and bakers going along i would of thought they will want to get it proved up to capacity 2-3 years stable production increased mine size with results then look to sell the entire operation.
That’s not like your usual positive view! This RNS left me with a very warm glow. This is a great outcome... the main shareholders will hold all the debt, not the banks. They will make money if they’ve bought it below par value. They don’t need to resort to nefariousness, why would the left hand steal from the right? Best course is to agree a fair debt restructuring as outlined in the RNS and let their shares appreciate in value, why dilute themselves? They gain threefold... interest payments, eventual redemption of debt at par value and rerating of the shares to reflect the stable position and positive outlook. We are all winners!
CV7, i thought there was something put in the articles of association previously to prevent a takeover/protect smaller shareholders after Candy's attempt which Edwards challenged and won at the takeover and merger panel based on a concert party being in affect. Will have to trawl back through info so long ago now.
LB,
Yes, they will probably convert there finance into a higher share majority and force through a take over.
All the above would need to be done without upsetting the local Government.
We need the share price as high as possible very quick.
CV
Have a look at the Corporate presentation January 2019, slide 12 and you can see what gold the company is sitting on.
http://www.metalsexploration.com/pdf/Presentation/Corporate_Presentation_Jan2019.pdf
Definitely down to DB I am very happy with the way he has come on board and changed things around I meet him at the agm and was a no nonsense kind of guy answered all questions which was asked of him with no fobbing off as my fellow long term holders have already stated go to the website and see what % is not in the public hands and the other saving grace is the major shareholders are always against dilution we have had over a year to do due diligence on the company those who did are long term holders some before DB arrived and was also giving clarity to the previous bod and the progress DB has been making which I thank them for also..
Spot on Lee
Whether its today or in a month, doesnt matter. Life changing money being made here and we’re yet to hit the start line.
Took a leap of faith in DB and his team and boy are they coming good.
The crazy 20% Mezzanine debt was set that high because it was seen a very short term debt, a little like a credit card debt, the majority shareholders stumped up the bank re-payments that MTL couldn’t make as the previous management were so slow to ramp up the mine production, the previous CEO assured the majority share holders he would get up to speed and the debt would be short term, it was a desperate measure to prevent a default on the banks debts, it never ended up being the predicted short term loan, and it’s taken a new CEO (Darren Bowden) to get us up to speed with production, and being capable of financing our debt, I think the whole consolidated debt will get refinanced at a similar rate to the outgoing banks, about 7%, which would be around $2 million interest per quarter at the beginning, shrinking as the debt reduces, averaging $1 million a quarter over the whole repayment period, giving us a sustainable business, we will find out soon enough, exciting as hell.
100% correct and appointed by the Candy's.
Gold is the way forward.
I'm thinking 2p by the end of today...
CV
The most important asset this company has is Darren Bowden. This extraordinary man came to MTL to achieve something and build a successful business for shareholders and for himself. He did not come to work for a private company but came to a listed one where he has a market profile and the opportunity to share in its wealth creation. No one wants to lose this man. So you can forget a takeover.
What are people's thoughts on the deal the Candy brothers will put together once they own the debt? Are their interests fully aligned with private investor once they own the debt? Why did they charge crazy interest even by mezzanine standards in the past? Contemplating adding to my position here.
A lot of us didnt, hence loading up between 0.40-0.70 mid last year.
Time heals and reveals all, this will be trading north of 5p in coming months imo. Research all done, sit it out and reap the rewards.
Piotr know you’ve traded this in the past, hope your buckled up and in for the ride (it may bore you at times - but will definitely make you money). Our buyer took some more this morning and you can bet your bottom he will carry on doing so down here. GL
I thought this company was going bust. I hope this is not another sign of excess created by cheap money.
Excellent news here today
Also take a look at the GDP rns out today
Worth riding that to a significant RERATE
5p soon this . Love the rns
Bit of a profit taking but it will get there.
Is it good or bad news? Could someone explain, please?
Great rns. These are cheap here now. Debt restructuring could throw us straight into profit here and I think it will big time . Booom
Definetly good news was not to far away with my guess and also they see a lot of potential with the company to do what they are going to do.
Just a quick reminder (for the newbies) we were trading consistently 2 years ago at 3.6p with same amount of debt, number of shares issued, gold at 1100 and losing money every quarter as a newly opened mine... 4 years ago we were trading at 8p with all of the above and not a single ounce of gold produced.
Looks very positive the debt being taken over by the major shareholders and then being adjusted to the Co's benefit, no wonder someone has been buying the shares - without the debt issue the Co would be valued north of £150m not the current £25m
This looks like being another AAZ - they moved from 4p to £2 albeit with fewer shares in issue, it was their major shareholder who supported them when they had significant debt also.
Looks like everyone's patience will be rewarded now !!
I thought that at one point that company is going bust but well done to current management. Candy brothers are majority shareholders and have tried to take it private before. If refinancing is sorted then company would be in best ever position