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I'm not happy, but I am content, with the share buy back. Since it was launched there has been no price sensitive news issued. But there will be soon.
Despite the lack of news, the SP has gone from about 1.12 to 1.32 - nothing dramatic, but positive in the absence of news.
There will be news shortly. The Cobre IPO will complete shortly and that will be a positive. What it will do to the SP remains to be seen. But it should add to MTR's NAV. It could add over £1 million immediately. Greater impact will then come if CBE, KML or SFR announce positive drilling results. Any of those could happen in the coming quarter.
Really , as a genuine holder how on earth can you be happy with a flat or declining sp?
What might be good for mtr is currently very bad for anyone who's held for more than a few months.
The only people gaining here are the short term traders or inside dealers (which of course there aren't any cos that'd be naughty).
But, I do think that it appears that, to my untrained eye, something untoward is going on.
The sp, considering all the buys, does appear to be suppressed somehow.
I'm just hoping that when all the games are over there'll be something left for the people like us (Keith).
After all the beatings we've taken here we deserve something.
How can it possible be a waste? Buying your own shares at rock bottom prices - perfect if you take a long-term view. If you were looking for a quick out at 2p, then I can understand the disappointment but i'm 100% happy with how this is going.
Plus, the 'sea of red' is just (and I hate myself for saying this) 'fake news' :)
Sorry Willowman, but I don't buy into the argument that the seller is doing us a huge favour. The SP is going down and I suspect that's not what shareholders voted for. The buy back money would have been better spent on acquiring/proving up new assets. The SP would then rise and the market would absorb the shares of those who wanted out. At the moment we have a sea of red each day and with Arden buying at the bid they are helping the SP down.
As far as I can remember the buy back had 3 objectives and the only one it's succeeding in at the moment is allowing the seller(s) to get out without absolutely trashing the SP. Perhaps that's all the Board wanted. I'll keep the faith for a bit longer but the trust I once had in abundance is now starting to drain away. As far as I'm concerned this buy back is just a waste (or worse) of shareholder money.
Keith, if what you say is true then the seller(s) are doing us a huge favour. They are providing us with the opportunity to buy back shares at a lower price and thus more shares for our money. As we all know this will result in fewer shares being in the market. Eventually fewer shares but same market cap means a higher share price, not an artificial spike on excitement but a solid higher price underpinned by assets.
Turn off your computer, relax and be patient. This is playing out much better than I anticipated, my fear was that the buy back would cause hype and froth. I am certain that we will all be well rewarded here if we stay the course and wait for things to unfold.
Had not gone through
Well CK if the SFR deal has not gone through the SP would have crashed as enormous numbers of shares would have had to be issued to cover cash calls from MOD!!! What would you have done? You always seem to be in critical mode. Easy to moan and criticise. You clearly have an agenda!
Boo Boo What rise did the Biggy Sandfire deal come too ! Presently eating through £4,000,000 !
The seller obviously doesn't believe !
CBE finding a commercial VMS will equate to a new equity NAV of of 5.5p to MTR.
Boo Boo what a load of tosh ! Massive resistance @ 1.5p ! A quick glance at the chart will confirm! Seller in total control !
Agreed Boo. Cobre IPO was heavily oversubscribed and attracted a great deal of interest. Ideally we need to get news on a new project to keep the news momentum and interest.
Frustrating ATM but looking forward we will be seeing exploration on all 3 of our main prospects starting this quarter which is what it is all about .
Cobre success could equate to a 400% rise in SP here. T4 progressing into T3's production line could equate to a 100% rise in SP.
Yes, looks like the buy-back is just to facilitate an exit for 1 or a small numbers of holders without trashing the SP even further. Just have to hope the seller/sellers run out of shares soon. Not what I was hoping for/expected!
Try buying some Alfred! Most of the holders here know what’s coming. Patience is required.
It's just disappointment after disappointment with this shower of poo. Nothing seems able to lift the share price.
Looks like we have reached a stage where the sellers selling at 1.314p and Arden are buying at 1.31p.