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Turning Out To Be Good Value …Or An Expensive Nightmare ?
https://polaris.brighterir.com/public/metal_tiger/news/rns/story/xj3231w
Even at the current depressed sandfire price the shares are worth 31 mill aus dlrs
whach is 5 times the outstanding loan
For Some Reason Its On Adfvn …Announced On The 24th
ASX ANNs get shown on ASX not here on LSE
As for MTR recent RNS who knows why last 5 not listed here ?
Strange This Is Not Showing … Here …Adfvn….Or The London Stock Exchange …
Who’s In Charge Of Sorting These Announcements Out ?
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02535549-6A1097215?access_token=83ff96335c2d45a094df02a206a39ff4
what's the strike price on those margin calls?
The divis paid by SFR are crucial to pay the hefty salaries of McNeilly and co... theres not enough to distribute to Shareholders.
That's a fair point but it was never part of the plan for mtr just to be a simple vehicle to hold sfr shares and the nsr. Hindsight is always 20/20
Unfortunately MTR also "invested" thier Sandfire dividends along with that 9 million. In 2021 Sandfire paid 32 cents per share worth over 2.5 million to MTR.
In the time they've owned those share (if MTR had just done nothing) they would have been paid over 5.5 million and could have paid a dividend or continued with the share buy back.
MTR used some of its sfr shares to raise finance to invest in other companies and meet its jv obligations on the basis they would generate value for the company (some have some haven't) . I think it's pretty unlikely it would have borrowed to pay a dividend...
Mgt are being prudent derisking. Look at what is happening elsewhere - 4d being a case in point.
June 21st RNS
Metal Tiger will use the partial proceeds of these sales on settlement to pre-pay A$1,540,000 against the outstanding loan principal of A$9m owed to a nominee of SC Lowry Primary Investments Ltd
Big short part 2, how much are those investments worth today? MTR could have been paying a dividend for the last 3 years. Hope the NSR is given back to the shareholders and not used on another management ego trip.
Great opportunity
PINMAN, the SP (i.e. majority of investors) says otherwise but doesn't matter, does it?
Some dense people on here today. Mtr have gone super cautious well done. Ride it home to the NSR….
Funny how MTR is silent on these transactions, no RNS no update... SFR playing big brother here.
We're in a bear market and equities will go lower until the Fed reverses the rate hike course (not anytime soon).
Till then expect margin calls, it will not end well for MTR's margin facility especially if we see recession headlines (due soon).
Supply demand fundamentals will not save the day... its a broader equity issue.
Shame that all the effort put into Kalahari is being wasted on gambling and derivatives...
Sandfire Shareholding Update and Margin Lending Facility
https://www.investegate.co.uk/metal-tiger-plc--mtr-/bus/sandfire-shareholding-update-and-margin-lending-facility/20220624110600Z9810/