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Best sellers tend to have a richness in the text, derived from extensive research. I'm not sure a string of one liners would cut it ck , unless you're a fan of arnie films.
Illaquens, Dr's hit the nail on the head.
Re posting history ,thinking of turning it into a best seller !
Vicky Pollard couldn't have put it better Illaquens :)
Lost on me DP!
Ooo, ejuka'id, init.
DR just looked at CK's posting history. Single sentence diatribe of poor grammar! si ça ne te plaît pas c'est le même prix!
Completely agree DaisyRoots. I doubt CK will bother to read it.
What a lot of old cobblers Joebop:)
The only thing that reeks of something rotten here is the agenda of a few posters.
The share buyback may spoil a bit of lucrative fun for some, but coupled with some hopefully good news from KML, SFR drilling, the £564k dividend, and other potential sources , the buyback if well managed will be part of a sensible remedy.
Cashking I can't help but notice that your posts are always in the negative and that you tend to appear when the share price is under attack. With your incessant moaning I can't believe you hold any stock so it does make me rather suspicious of your motives!
Just to illustrate my point here are a few of your posts on MTR from October 2018:
- [ ] I think I can spot a pattern here:) Note the exclamation marks. The only reason anyone would waste month after month trashing a stock would be to personally benefited pens if they say no to a mining license ?
Can you justify the mcap ? Personally I feel its overvalued @ present !
Do you class investing @ 3p 2.8p and 2.4p to being a success ? Mmmmmmm
Doesn't really take much thought !
Now that's a solid update on Solg , maybe here one day ! The question is what's going to move Mtr s sp up for a change !
Profit margins evidently rather slim !
Not doing great !
Nothing to do with the poor performance of the trading arm or the poor timing and price of the placing !
Sp not looking good !
To prove up the other Ts and "Possibly " sell our 30% s , then there's the question of how MODs going to acquire them ,doubt very much it will be cash !
Then it begs the question of how much financing Mtr will need going forward till any payday !
Of note the company spent approx £283,000 a month on admin in the first half of the year !
There's also a possible 500,000 dollars to be paid to our new partner in Botswanna by December !
Then no one seems to know what the fees were for the Fundraise ,and why it hasn't it been mentioned ?
Re lots of rigs ! Sounds expensive !
Our Bonks bigging it up whilst dumping out ! Oh dear how many did he trap !
Joe, income covers expenses? MTR is an investing company. What income? Why is asset backed financing ludicrous at this level? Leverage off SFR shares and make them work harder.
Oh yes we see it joe we see it very clearly why certain entities don’t want a share buy back........lol....not long to wait not long to cover..........gla....real investors......
I was a proponent of the asset backed finance. For exploration/cobra investment purposes only.
Asset backed finance for a share buy back is insanity at this level. The discount to nav be isn't big enough to justify wasting the money on a share buy back. Or at least wait until income covers expenses, which won't be until another investment pays off.
This entire buyback issue reeks of something rotten. Guess I'm not the only one who sees it.
CK, asset backed finance!
Re Dividend insignificant compared to Admin expenditure, it will be interesting to see where the couple of million £ come from for the share buy back !
Thanks for that Tac. One small problem MTR is not an exploration company but an investing company. Perhaps you invested by mistake! Agreed Spain has not lived up to expectations but you cannot win them all! Thailand may come good but not an easy jurisdiction to operate in. You don’t get 10 to 100 baggers in an investing company. At least MTR do not have to tap the market for cash!
Maybe just wait until the KML news is out? Also £564k dividend from SFR on 29th November.
Your assumption's kinda correct Daisy... obviously pretty unhappy with the performance but luckily diversified enough not to be attached to this company.
Basically the reason why i invested did not materialize so its time for me to move on... finding a new reason to keep holding is like a vicious circle (my personal experience that is)...
It's a good job that MTR isn't a junior miner then, but a natural resource investment co instead ! MTR are sitting nicely at present and the share price being low has the advantage of being good and cheap for the share buyback, when MTR come out of the closed period. The Cobre and KML projects are feathers in the board's caps if the smiles on their faces at the EGM are anything to go by. I'm happy to be patient and wait for the results to prove themselves, as well as for the base metals market to improve. But I do understand if unhappy holders ( I assume?) like yourself wish to sell and find fortune elsewhere.
MTR is not a junior miner. No reason why this share cannot begin a nice, steady climb from this point - possibly including a few step changes if discoveries / investments pan out. Ten baggers are nice, but so is 100% over 2 years. Hypothetical, ofc.
Still here fierce, despite the shambles of a buyback offer.
Cash in the kitty is the only recourse a company has to bad investments/drill results. And to pay obscene wages.
Illaqueens,
I think this goes back to history and all their promising ventures that never came to fruitition from venture in Thailand, Spain endless RNSs stating potential JVs none of which matrialized.
My only hope (and im sure this goes for the many on here) was the African mine... sold too cheaply and early. Management was solely reliant on MOD and MOD themselves were not up to the task.
MTR was then forced to sell the thing but got itself some long term sweetners.
Unfortunately investors do not invest in Junior miners in anticipation of such a scenario... they invest in the hope of bagging 10x to 100x on the back of discovering a mine that would be sold at a later stage once significant value has been added to the project including market cap...
After the sale to SFR any potential multi bagging is out of the question simply given big market cap of SFR.
Investors in Junior mining are not interested in companies that would at best double or triple their invetsment hence lack of daily trading activity in the Stock leaving the SP "undervalued". Management is still giving the impression of significant returns which is being interepreted by existing shareholders as multibagging... i doubt this is realistic.
Tac please could you elaborate on why you think the company's credibility has been damaged by management.
Interesting looking for an exit now ? I see JoBop and CK etc have all vanished because now we actually have something to add to in our holdings and the only ones who say they want out are surely, the same gang who have incorrectly stated that MTR was going now where and had nothing. I would suggest my learned friend TACO a quick peak at the assets we currently hold, which as you well know are all fully paid for as we have no debt, and perhaps change your educated view on the matter. Look forward immensely to your view on the above points of course AIMO.
Totally agree MikG apart from the the bit where "its hardly the company's fault"... unfortunately this isnt and hasnt been trading on fundementals but on confidence... and confidence is not there no matter what actions the management takes...
With all due respect to the US$1million dividend to such a minnow like this the market propbably sees at as barely covering CEO's compensation...
The credibility damage caused by the management i think has been generally underestimated and commanding a massive discount to the SP... for that reason i'm honestly looking for an exit... waiting for the next spike...
Hard to take seriously talk of "overpromising and underdelivering" alongside talk of selling to SFR for what was a 3x ROI, huge dividend and royalty income streams going forward, and a share buyback! For a minnow on AIM.. a share buyback! When you factor those in, its hard to share your view of "under delivering".
As obnoxious as the share price is, it is hardly the company's fault if millions upon millions of buys don't lift the share price (like the day the buy back was confirmed as passed), and yet 2 grand of sales drop the share price 4% today. The Company can hardly help that, and they've even gone to lengths to move past that by underwriting more than the current market cap via highly liquid SFR shares. Throw in the soon to Cobre IPO, and it becomes another of those AIM headscratchers where unfortunately price is based on what suits the market makers and their books, versus actual fundamentals.