Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I've come to terms with the fact that this is just one of those slow burner stocks that will fly under the Radar and be ignored by the wider market for a while. Then at no particular point and based on no new information, it'll just fly up and drag in a lot of new investors/punters and also some additional institutional money.
The Abra project is key now, if they get a Co-op up and running with the 'artisanal' miners in that neck of the woods, the knowledge they have will benefit MTL as they will be able to access very high grades with very little outlay. There's a lot of knowledge that's been passed down through generations so listening to those who live there will certainly help us all financially.
After generating cash from the low volume/high profit gold strikes, the copper infrastructure can be put in place and hopefully MTL can create a copper mine with a 10 + year economic mine life. Naturally, other projects will be bought into, and other companies could possibly be in the crosshairs of MTL so the future certainly looks promising (on paper).
Q1 results will give us a boost I think, once the factual numbers are out there, the PE ratio alone will make this look exactly what it is, CHEAP.
All the best
Always remember, cash in the bank is both the companies and the shareholders, the little slice each and everyone one of us own, Darren Bowden could split say $10 million in 3 months time between us all, he will have the cash to do that, it would certainly raise the share price too, but if we let him use that cash and buy us the machines to make that $10 million work, those machines make us $20 million and that $20 million gets spent and makes us $40 million etc etc.
The seeds planted now rather than later will make us all far richer in the mid term than most can possibly imaginable today, well done everyone.
Hello to all the long term holders who have held there nerve over these years.
Today is a fabulous day and MTL is still massively undervalued.
In our MR Bowden we trust and the future is MTL.
DYOR
CV
It would be nice to have a dividend, it really would, just from the point of view of the effect of bringing this company to the attention of the wider (sometimes myopic) market and the on the stock price :-)
But I respect Darren's plans and lets gace it, They have done an amazing job. For my part, my investment has gone up "X7" since 2019/20 when I got interested.
That's pretty good going and if the company keeps getting revalued at this rate, I will be very happy
Well Done Darren and team, brilliant job
Anyone selling today are utterly crazy, it’s unbelievable, you need your hands tying, this is a BUY BUY BUY, you cannot fathom how much this changes the companies position, we spin $20 million a quarter, $80 million a year free flow cash, believe me, this will filter through to us down the road, but Darren Bowden has got bigger ideas with that first allocation of cash generation and it will be planting the seeds of our future, why slow that growth with satisfying a short term dividend gain, the multiple mine income Darren Bowden talks about is now a reality, we have the cash to buy that dream, when we do get a dividend it will be a share of a much larger pot than the one we have now.
I have beaten the drum here for years, today is the day I was saying would come, today is not the day you let go of the dream, hold tight and simply enjoy the next few years at a minimum, it’s just started today.
Morning
Darren has made it very clear (at least to me anyway) that dividends are NOT going to be paid. He actually mentioned this in his most recent interview, he stated he prefers to grow the company and acquire new assets and head towards a $2 billion market capitalisation. Paying dividends when your only producing asset is in the end phase of production is ridiculous, it's blatant short-termism and won't benefit the company in any way long term.
A one off special dividend is about the best we could hope for, but a permanent dividend at this point in time is a no go (my opinion). I would LOVE dividends to be paid but not when our cash generator is in its last 3-4 years of production. Use the cash to get Abra up and running, and there's no doubt many more small/medium assets will be bought or farmed into over the rest of 2024.
As for the RHL Group disputing the debt, well, maybe they're correct, maybe they aren't, as shareholders, all we can do is let the company deal with it and if the legal advice is that we are correct, MTL will no doubt let a court decide. It would be preferrable if it can be sorted without a distracting legal claim, but what will be will be (DB reckons it'll be sorted short term based on his statement in the RNS so we shall see).
Onwards and upwards, we are effectively debt free now so the next RNS (apart from Q1 results) should be an M&A one of some description.
The market makers will now do their thing (up and down for no reason), but if you're here for the journey, it won't matter.
All the best
Gold only going up long term
Just look at historical chart
Why no dividends? This was the moment i was waiting for. I have cut half my holdings now. With sadness as I have been invested here for years and before current management. Who have done a remarkable job. However, without shareholder returns now, to me this becomes a minimum 5 year investment before possible returns and good luck forecasting gold prices over that period.
Count it.
Put it in a bank.
Pay wages etc.
Aquire additional assets to grown the company.
What are they going to do with all the spare money they're going to have?
Company pumping cash now
Just look at revenues and positive cash flow
Great news, and with the gold price $200 poz higher than 2023, must be worth another approx £3m per quarter :)
An early Easter present from MTL. What a stunning turnaround from Darren and his team.
Wow what a day. Been a long journey but here we all are. Thank you Darren and his team. What an amazing effort. Congratulations all my fellow holders both new and old. The future looks great.
Great update about being essentially debt free - this is set to fly as everything we sell now is ££ in our pockets! Great job MTL
Gold creeping up towards $2200 again.
The SP pushing on towards 5 pence.
Debt free very soon.
GLA
Darren Bowden in Feb 2024 told us we had 4 years mining life at an average grade of 1.29g/t remaining in Runruno.
Thats enough for 75k to 80k gold ounce production per year.
He did mention a month or two possible extension on the fringes but didn't mention the grades.
Due to the nature of back filling the waist and planting trees as we go along the costs to close the mine will be small and he mentioned around $5 million in total.
The mine life is easily long enough to get the Abra tenement and possibly further aquisitions set up, he expects to have income from small scale mining plants on high grades targets in operation within a year or two, creating further cash generation before and during the period of closing Runruno and starting production at the Abra tenenament.
Darren Bowden stated the speed in which we have managed to pay down the debt has opened up many new possibilities as the war chest cash accumultion will allow us to persue mutiple aquisitions.
I expect news on other targets later this year.
Feb 2022 MTL updated the resource model to show an increase in tonnage but at a lower grade. The net result was an overall increase of 30,000 Measured and Indicated Resource ounces.
The Runruno mine can only be mined one stage at a time as the waste from each stage is used to back fill the previous stage.
The ore body in each stage is already well defined from drilling that took place many years ago. The exploratory drilling generally intercepts lower grades on the Western extensions of the Runruno ore body, which is in line with the actual mining outcomes experienced. The ore grades in the areas being drilled are not economically viable to be mined.
I'm still wondering about stage 4 to 6 mine expansion. Exploratory drilling for stage 4 was due at end of 2023 and so far no additional gold uncovered, but they hadn't finished exploration by last interim results. With further stages still in pipleline and MTL keeps this info close to the chest almost the whole time so would be good to know.
Mining 2 sites is certainly better than 1, especially if infrastructure is already there and it is simply expanding existing operation.
I wonder is it possible for a PI to check if the drill is on site at ABRA .?
I've never seen Johnybigarms and Lee in the same room together.
I'd say they have the same amount of shares as well ;-)
Once again Thank you Lee for that insightful and ultra positive analysis. We have 3 weeks to go before Johnny Big Arms' optimism is shown to be 200 % accurate. If I didn't know better I could think that JBA and yourself were identical twins!!. Have a good Sunday everyone. The Best is Yet To Come.
Thanks Lee, that was a very helpful post
Jim
Post copied from ADVFN chat by johnybigarms (He really does have big arms)
We have our Q1 results to review in few weeks, Gold average will be a good $90 dollars above the last results, at 19k to 20k ounces average production we should have generated well over $40 million income, we could actually be debt free at the end of this quarter, but if not it should be only a week or two additional mining to actually achieve the debt free milestone.
At current gold prices we should be producing $80 million free flow cash per year, our tax free period will come to an end but I’m hoping we will have a few quarters free of tax using tax losses from previous years.
Should just $12 million of that $80 million be paid as a dividend, that’s 0.5p dividend per share or a 12.5% dividend yield at our current share-price, but I feel the share price would be nearer 10p at that point, a £200 million market cap paying a 5% dividend.
Our market cap is £85 million today and we will generate £60 million free flow cash before tax in 2024, with 2025 2026 and 2027 set to repeat those incomes, this is without the Abra tenement income that could be worked creating cash with a small scale low cost set up, online in just a year or two, giving us multiple incomes.
Long term we have decided to close the current mine in 2028 and move the infrastructure to the Abra tenement to carry on with a large scale production over another decade or so with luck, results on gold and copper stocks pending but Darren Bowden hasn’t decided to purchase this tenement blind, I’m confident he knows it’s a viable project already, after all the sample drill rig is on site, it’s likely it’s been working and loose results are already in those with the know.
Hope that helps those looking in and wondering should they invest.
Couldn’t have put it better myself ;-)
I'm looking for investments to keep for the long-term and am still invested here - I have top sliced . DB is doing a really good job.
I haven't had an elusive 100 bagger yet so am still hoping for one of those :-).
Lee I enjoy your posts - so please do keep up the posting.