Member Info for adamk87

Ohh god!! Haha theres me thinking it was a couple of years. Well glad you, pharma and others got some next to nothing. The more in mth and lth hands the better, no chance any of us are giving ours up at these prices no matter what. With the risk v reward here i’d rather risk losing everything (not a risk at all imo) than sell and this go on to 3p in next 2 weeks followed by 6p in June. Very rampy i know, but its true!!!

Jgallagh hope you got some at the lows too, know you’ve been here a while too. Hold these tight all, cant stress it enough.

Another 10k buy above ask. Well played sir

Extract from rns 1: ‘The Company has advised the Senior Lenders that it believes that it is unlikely to be able to satisfy the equity fundraising condition precedent.’ No equity fundraise = brilliant Extract from rns 2: ‘Accordingly, the Company has entered into discussions with the Senior Lenders to find a solution that will allow the Company to continue operations on a sustainable basis.’ Market refused to notice the significance of the above yesterday, any solution is better than a 1-1 equity fundraise (yet when this agreement first came out we were at around 1p and the market liked the news with a 30% rise that day in share price) - so any solution from here would see us closer to where we were in mid Feb at around 1.6 - 2p A solution will be achieved, i dont imagine it taking too long either considering the only issue we have is the equity fundraise element.

Ah ok my bad, hoping it was ruffer and not a poor pi getting mugged off.

10k buy just in at yesterdays buy in price before the drop. Finally some balance of sense is restored. Count your blessings buying in at these prices. These beauties move fast off very little. Dont let them go without a fight and certainly not at current prices (those that bought in yesterday sat on a nice profit already, but nothing compared to where we’l be in a few weeks let alone June time when we’ve hopefully ramped up production to nameplate)

Xtr ruffer havent sold any since drop. Even they had more sense than to give their shares away for free!

Everything being done is calculated, let the share price act up however it wants to imo we should be sat at 2p after yesterdays rns confirming dilution is off the table. Banks have charges against the mine, which means mtl have to satisy banks. Banks however also have to satisfy mtl as without them the mine is useless given licencing issues. Its fascinating All i know is, an agreement will be made. Too much for both parties to lose if it wasnt. No reason for an agreement not to be made, considering major s/h only issue was the equity fundraise element of agreement made only a few weeks ago (thankfully!!!) Gla - got to get some work done now! Haha spammed chat plenty this morning.

LB negotiations over a 60+ million debt (which considering it cost us 250mill to get the mine up and running and were now producing gold and ramping up production is not a great deal) owing to senior lending facility, is not just a case of coming in and having everything on a plate. DB clearly had work to do, work he was mega mega confident of getting done otherwise he wouldnt be here. We know he hasnt come in blind, his first move was to appoint a plant manager, followed by getting rid of weight that became to heavy to carry (old ceo and cfo - saving us a lot of money in extortionate wages) followed by a review of historical performance which identified issues from previous management.

Only 1 mm left at 0.60 to buy, get them while you can at these prices - dont do a Leo and run, hold these tight. Treasure these beauties.

Banking ‘right off’ haha - a gold producing and selling mine, yes they will just shut up shop and forget about the 1.4bn reserve and 250m cost it got to get the mine up and running. The banks will just ‘write off’ millions of pounds - my god! Banks havent lost a penny, mtl have been keeping up with interest payments however due to circumstances known to the bank the mine has had difficulty the last 18 months. These have been resolved and biox running stably with production getting ramped up. Mtl is looking more appealing than ever right now to those that have been here a while - DB has our trust, he knows what hes doing and we will get a new agreement with more favourable terms i have no doubts. Banks have little choice than renegotiate, we hold all the cards. Well played major s/h.

Neil what your missing is a few brain cells lol

Tdaves if it stayed around the morning buy price you would have seen 3x yesterdays volume within first 10 minutrs. Moves fast on small volume. 0.50’s 0.60’s 0.70’s anything under a penny is an absolute steal. There is risk as with any aim share but also people need to use common sense, nobody benefits under current circumstances, we know what game is being played, banks will agree to take foot off our necks and when they do its 3p for starters imo and then June is where things really spice up. Crazy, gla - trust your instinct and drown out the noise.

This should have doubled on yesterdays rns not halved. Madness

Couple of new posters dont really know what theyre talking about probably because they’ve only read one rns and are searching for their next day trade off the leaderboards - dont mind them. Pharma its an interesting point you make about DB and smoke and mirrors regarding equity raise. Given his level of competence and experience i wouldnt rule out that this was done on purpose, would be a master stroke on route to getting a better deal from the banks. Genius Banks want their money, not a mine they cant do anything with. No chance they wont come to an arrangement to meet in the middle. Copied from rns - ‘the Company has advised the Senior Lenders that it believes that it is unlikely to be able to satisfy the equity fundraising condition precedent.’ Equity fundraise is the only aspect of the amended agreement the company has an issue with. They’ve not argued amounts or repayments dates etc etc only ‘the equity funding condition’ the bank made about where the money came from - thats just the banks trying to flex their muscles (bullying) and thankfully the major shareholders have shown them the middle finger. Risk v reward here is incredible, more so for those that have been here for a while and have seen things unfolding. Todays news was what me, Lee and others have been stating (and hoping) for the last month and were classed as ramping the share, haha so much for ramping!! Its good news though, that type of dilution would have been terrible! Instead we are at the negotiation table, holding all the cards. Crazy Gla

Leo, im assuming you’ve now changed your opinion on them? I also had reservations about them when i read something in December, however nearly every statement made has come to fruition (the ones that havent yet are all events yet to take place)

Metals Exploration (MTL), the gold producer in the Philippines, has announced an agreement to reschedule payments of $63.3 million to its bankers, HSBC and Paribas, concluding on 31 December next year. What should be of most concern however is “a condition precedent” of a payment of $15 million by the end of next month and the demand to the company to raise $20 million in fresh equity. Bear in mind that the company’s shares are currently capitalised at only £20 million and such a demand would necessitate at least a one for one rights issue but, given the time available, such a conclusion is unlikely. The banks are playing hard ball but it is my understanding they have a problem they are not used to. Under Philippines law any change of ownership of the mine would mean the licence reverting to the Government. So not just in geological terms they are genuinely between a rock and a hard place. Therefore I believe one should read the latest announcement as a negotiating position rather than a definitive agreement. This has been dragging on but one might take some comfort from the fact that Nick Candy who controls 47% of the company and Graham Edwards who owns a further 19% have long experience of negotiations with banks. Meanwhile the new management under Darren Bowden is finally whipping the mine into proper shape. I hear that production is now processing 6.5 thousand tonnes of ore a day and the flotation circuit is much improved. He is, apparently, confident he can get the mine up to nameplate production by the middle of this year. That means our problems will be over. It is also significant that despite fund manager Ruffer dumping its holding the shares, at 1p, have held up remarkably well. Do not despair. - Key indicators for me: Negotiation as opposed to definitive agreement Nick Candy and Graham Edwards (major shareholders) have long experience on negotiating with banks New management finally whipping mine into proper shape Nameplate production by middle of the year, that means our problems will be over.

Goshawk no way the banks dont renegotiate a better deal, SP alluded to this in article too wherby banks would need to reapply for licence to operate the mine (i mean why in the world would a bank want to run a mine lol) and the philipines government are notorioulsy reluctant to give out such licences. Hence MTL spending time and resources over the years to ensure relationship with locals and govt is one of their top agendas. SP article also talked about negotiating a better deal - they were right. I was always planning on staying (slicing) until atleast June to see how were getting on with ramping up production and taking things from there. From my perspective i only view todays rns as a positive, just a case of either a, getting a better deal with banks or b, finding alternative funding to carry on (whether this is major shareholders or another remains to be seen) but 0 chance banks get an asset which has cost 250m to get where it is and has a gold reserve of 1bn. Madness

Leo fair play fella, you got an entry and blimey what an entry it is (you’l get your 20% raise as early as tomorrow most likely but at this price my advice is to let them run! They’re practically free)!! Hopefully pharma was around this afternoon to add a few too with the 5k he had set aside. I dont get what in the world happened to the share price!! I mean the rns is kinda pointless as quite a few of us here predicted this long ago (so did the SP article).

Buzzing! So we were hoping a equity fund raise wasnt going to take place, now we have confirmation it wont. ‘The company does not have the resources to make these payments’ well duhhhhh otherwise we wouldnt be in current predicament. That leaves us searching for alternatives, which on the face of it breeds uncertainty hence the share price - no way major lenders let this go bust, so i imagine they’l be offering up alternative financing or basically playing hardball with lenders in the hope of agreeing to better terms. Just think of it like this, would major lenders prefer to lose 50% of what they own by equity fund raise or 100% by giving the banks the mine!! Exactly. 2k’s worth at 0.35....thank you very much!