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Your tune has changed in a week hasn't it
He hasn't dumped them onto the market. Check the volumes.
Somebody seriously wants in. How do you accomplish this with an illiquid share?
Buy a tranche in a cash raise? No cash raises needed so can't do that.
Buy on the open market? Try buying 50m shares without driving the SP into the stratosphere. Won't be doing that.
Buy privately from a large shareholder? Large shareholder gets fair value, new shareholder gets fair value. Win - win for both shareholders.
Somebody has just bought 50m shares in MTL and people think it's time to bail. Wow.
It's typical, they bleat about 'strong support' and being debt free entering a new era etc, and the majority shareholder starts selling scores of millions of shares while the company is attempting to attract new investors and institutions.
Looks like the up and down games (as expected) are underway. And as per EVERY company on AIM, set your target and don't put your fingers in your ears and 'pretend' nothing negative can happen to the company/asset. If you a point where you are happy to offload some shares for a profit, do so, or you 'may' live to regret it.
We need more clarity on growth and the current performance of Runruno, we shouldn't have but a few days to hear what it is. Q2 has been great so far with gold over $2100, let's hope it continues.
All the best, have a good evening
Bit worrying Mr Candy dumping so many shares after so many years a day or two before we get our next update from the company. However, as long as the results reveal nothing except business as usual then there is nothing to worry about. The free cash flow over the next couple of years will cover the market cap. Anything on top of that is a bonus and any further discoveries (Quite likely) are also in there for free. The gold price is magnificent and will be giving all the gold miners a massive boost.
A lot of buying this afternoon as well.
Been topping up this afternoon wasn’t expecting this opportunity bring on the results
Hi Lee - yes, my first buy was December 2007, so over 16 years ago now. I have 36m shares, 1.7% of the business.
I remain 100% confident about the future, though will eventually start slicing, much as Candy has done today. But this has a long way to go yet before we reach full value so I'm in no rush as I think are most of us LTH. My best to us all!
So somebody bought Mr Candy's 50m shares. They were not sold on the open market.
Not enough to trigger a TR1 but a sizeable chunk for a starting position.
Somebody clearly wants in.
My first MTL shares were bought Oct 2020 followed by two further buys in May and Sept 2021, so about half as long as accipiter. I don't post much but I'm still here in the background, holding on to my shares. GLA
I think my first MTL shares were bought about 2016 via Share Shop - remember them.? They were bought out by ii (Interactive Investor) so I lost track of the actual date. Through thick and thin I have been here and have no intention of selling.
Mr Candy is probably looking to buy a new yacht with his tiny sell. Him timing is interesting but staying in big time indicates his holding in cash terms will stay the same but more probably increase on Friday's expected news.
GLA for Friday.
You need help
He knows production nosedives ahead
Hey CV. Still here holding just over 3 million. Loving life feeling supremely confident. Everything going to plan with Metals and the recent gold move to over $2300 is an absolute bonus. Holding tight as I have for many years. Looking forward to reaping the rewards. gLa
Good to see he is still here, I wonder how many of us have seen the break through? I see around 20 different posters who you could say have a LTH status, I have been invested 7 years in MTL, who can claim longer, I think Mac must be one of the first here and holds 33 million shares if my memory is correct?
Who can claim longer unbroken investment in MTL?
How's Roy,
Some of the long term holders are very quiet but still lurking in the background.
Hope everyone is well.
CV
People are naturally taking profit and it happens all the time after a sustained rise. Nobody knows the future and any profit banked is a winner on AIM. We have been very lucky to become debt free at a time of record high prices for what we sell, that isn't strategy, it's fortune.
Also, plenty of times results have been released here (and in many other stocks I've held/hold) and the price nosedives over the following days/weeks for no reason. It's to be expected as market makers, traders, and investment groups take positions in stocks and play them up and down.
MTL is now a mature debt free Gold PRODUCER, that is throwing off $millions each month that will be used to buy up more projects and producing assets. Whether it goes up/down or sideways, the balance sheet will speak for itself and the price to earnings ratio will continue to move in our favour as the quarters tick by.
Everyone has their own price point where they will scalp off a profit, mine will arrive at some point too and I'll be selling half my holdings when it does. It's not there yet so I'll keep adding small amounts at every pay day until it does (next week). Let's see how the market reacts to the Q1 update and confirmation of debt freedom, I personally believe it won't move up very much and stay between 5-6p for a while. I hope I'm wrong.
All the best
Based on the timing of previous quarterly updates we are definitely in the range of expecting the RNS - I suspect it's right that some are just taking profits but very shortsighted when you think of the news - debt free, record gold sales. JW's nonsense about depleting grades would only make sense if the true value of what we have was already priced in but it's nowhere near.
Spot on Lee couldn’t have put it better myself. FIAT will continue to be de valued, unlike gold where the supply isn’t endless.
Are we due an update this week?
I’ve just added today’s dip.
Have a great day :)
Probably the temporary drop in POG. Same is happening to HOC and others too. Very short sighted in view of the potential news in a few days time. On the other hand these sellers will be sitting on a good lump of tempting profit from recent months.
Looks like we're seeing the departure of some weak holders who've lost their nerve or perhaps the buy the new crowd - crazy to think how silly people are with their money.
The U.K. debts at 2008 were £0.5 trillion, today it’s £2.7 trillion, more than a 5 times increase in just 16 years, it’s rising faster and faster and your savings in pound notes shrink at the same rate, it’s that simple, and the smart people are buying gold and silver, I personally have moved 80% of my wealth into MTL a gold producer and Silver coins a physical asset.
I do not trust banks, I think it’s only a matter of time before some go bust and once they do it will be a scramble to safety, Gold and silver, the prices will go exponential, MTL are poised to capitalise when that happens, cash generative and our Q1 results will cement that fact.
@Bitsub
It's even funnier because it's a 50/50 guess that they keep getting wrong.
Ignore his ignorance boys and girls, even the American banks have estimated between $2700 and $3000 dollar gold this year, why? Because they have lost control of their debts, so has the U.K., The USA debt grows by $1 trillion every 100 days, the interest alone is $1.6 trillion per year and rising, it’s a runaway train and all they can do is print currency to hide the problem, holding precious metals is your only chance to not have your savings obliterated, holding shares in a company like MTL is like turbo charging your gold investment.
We have seen nothing yet, gold will continue to rise and it won’t be a straight line, but it’s going higher, don’t be fooled by little pull backs.
JW since your so good at predicting the future how come you got it wrong so far ?
So stop ramping newbies when you know what’s really coming
And of course with lower grades that will pinch also
I would say, somebody is accumulating.
There have been a lot of chunky buys, daily for the last month.
Could we possibly see a TR1 soon??