Member Info for adamsmithfreethi

Calm down everybody - ever heard of LTI?

He'd be mad to buy gold assets now particularly from an established player. They will demand top dollar - assuming the dollar in today's world can be described as such!

DB being a smart guy won't be fooled into this. He has extensive tenements in Nic that are under explored. Maybe the Nic government will sell some more licenses together with previous drilling records from other sites that miners have previously abandoned so MTL can go in with a head start.

That's the smart way to grow...

Good for you Karl - patience allied to moments (as over the last 2 days) of seizing opportunities is the name of the game.

As for predictions I'll leave it to others better qualified.

I'll be at the AGM later this year assuming they'll hold it in the UK as they did last year and I'll be looking forward to asking some face to face questions.

If you're around I'd recommend coming.

Karl thank you for your considered reply. In truth I don't have my total holdings to hand as they are spread over 5 accounts. I'm guessing roughly £300k. In fact I might even qualify as one of the smaller iis. Shame none of us can get to the top table.

I don't anybody saw this fund raise coming.

I can only surmise that they got such an enthusiastic reception at the conference they decided to change their strategy. I'd rather assumed they would go to extract the Pepas deposit using a tolling arrangement, Brad suggested as much in various interviews. They would then use the funds raised from that to fund the other prospects. It would have been a slow burn approach but non dilutative Perhaps they were persuaded by the big investors that this was too conservative and they should accelerated both bringing Pepas into production AND independently ramp up exploration. Yes there would be dilution but the value they have would be unlocked significantly early.

On balance I might reluctantly agree with the big boys on this. My only concern (AND THIS IS NOT DERAMPING) is whether Brad and his small team might overstretch themselves.

They've had a bit of argy bargy with some of the more stroppy locals around Dupax. Or at least reported on by the local press.

I wouldn't be surprised if they hold back a bit and let tempers cool before announcing results.

I think we'll just have to be patient

I think my credibility was shot the moment people decided I was deramping. Oh the madness of crowds...

Never mind at some point I'll have the satisfaction of pointing out at bump in the road and then watch the lot of you fall flat on your faces since I'm clearly a weasel.

As the saying goes - no good deed deserves to go unpunished.

Bye for now keep up the rocket emojis...

Legal - so are so full of yourself you can't see what is around you. If you go back and READ and UNDERSTAND my posts you'll see I didn't deramp. I merely counted the number of rocket emojis on the screen and concluded we were in elon musk territory.

I couldn't predict the fund raising any more than you we're just humble retail investors.

The difference was that I was able to stock up at a price 25% lower with funding secured for whatever the management want to do next.

I suggest you stop repeating yourself on your oh so rampy posts and engage brain once in a while.

Oh and stop insulting people who might be smarter than you.

Added another 1.2m at an average price of 20.2.

Would have preferred 18p but I suppose when applying for shares at a tender you don't know your allocation in advance.

At least buying in the secondary market you are only ruled by price.

My thanks to the Canadians for tanking the share price at cop yesterday

Pat2014 you are a reasonable question in an unreasonable world. Personally, and this is all guesswork, what you suggest won't happen. Why? Because markets are betting machines or if prefer anticipatory devices. Even if you strip this out and just assume ceteris paribus mathematically whilst placing is dilatative it is only on a small portion of o/s capital. So ignoring everything else there would be a small movement towards 18p.

Turning to the real world however and sentiment is all. As a thought experiment say the offer failed completely. Ergo there would be no dilution and mathematically no impact on the share price. Would that happen? Would it *ell!

Take the opposite case of everything subscribed with news of investors being turned away. In theory dilution would kick in and the price wold fall. Would it fall? Would it eck!

That's why it's vital the share price sustainably stays above 18p because that guarantees a profit for new subscribers and guarantees success of the whole placing.

That's my view anyway. Happy to be gainsaid.

SHARETRADER - HAVE YOU MANAGED TO GET TO THE END OF THIS YET? (caps inserted to aid backward readers....)

Sharetrader - embarassed myself really? Err didn't my posts correspond with the recent top of the market. Go check.

AND ANYWAY I was not de-ramping. Before you spout such piffle go back and READ was I said. Types like you are all opinion and no brain. My intention was to try and insert and little thoughtful debate into this Board. Clearly I've failed.

Hi CCC - sorry for the tardy response I've been involved in the fun and games at OMI this am. Right back to your response and a great story it is too. The initial dip in the water was sane given the company at that point could have gone bust. Your second call was the really brave one. Granted you had some real facts and solid evidence of improvement to go on but still setbacks do occur e.g. in the last month and given the fragile confidence that must have existed at that time your £100k could easily have turned into £50k, Also I'm puzzled by the mere £5k investment at 5p - lack of funds?

I share your exasperation as to those demanding real time info on gold dropping out of the exit door on the plant. We've tried to explain why no news is probably good news but to no avail.

I suggest you switch to a bit a shroud waving wailing that all is lost and the management have gone into hiding. That way you might pick up a few more cheap shares!

Thanks for your explanation on LIFE placings. I hold off on the retirement home for now.

I think you mentioned something about money being in the bank. I'm not sure anything is guaranteed with this offer. No underwriting for sure.

At the moment, in theory, nobody could subscribe and no money would be received. I believe the shares are being sold on a best endeavours basis.

Having said that I don't want to be screamed at for de-ramping. Happy to be screamed at for being wrong.

As long as the share price stays above 18p the offer plus supplementary raising surely must succeed. If nothing else those lucky institutions and/or well connected individuals can subscribe and flip.

Tarnow just tried to look up what a LIFE placing is. Other than google trying to send me to a retirement home I didn't get an answer. Could you elucidate please?

They could have tapped us retail investors. No need to offer a discount of ~ 25% on the spot rate.

Well we know where we are in the pecking order....

Interesting thanks for your response. Sounds like you got ahead of Mr Market and worked out MTL was a survivor before anybody else did. Well done you.

As for your putting yourself in the shoes of the CEO approach - absolutely.

My post yesterday was written exactly with that in mind. What would I do if I was DB?

Cheers anyway...

CCC assuming your telling the truth about your average (shock horror not everybody does on these boards!) you made a ballsy call right at the nadir of the company's fortunes. I remember looking at MTL when they were mired in debt and concluded that they were doomed. You didn't and were proved right.

In the meantime I had a small holding in CNR and the offer forced me to look at MTL again. I, like many I suspect, were amazed at the turnaround and given the CVRs were pretty much free I massively ramped up my holding in MTL judging that I had the option to sell down again after the deal had gone through through. So my average is probably about 5p which I'm quite happy with since at the time of the offer MTL had really sorted out its problems from getting yields up on the refractory sulphide ore to getting rid of troublesome shareholders. I considered them relatively low risk amongst the junior goldies and still do.

What I'm interested in just out of curiosity if the process by which you took such as massive risk. Did you know DB from past roles he had or did you just get ahead of an inefficient market that failed to process publicly available information that clearly indicated the worst was past.

The nearest experience I had to you was AAZ. I won't relate their entire history but I bought in at around 9p. They were precariously balanced just like MTL and only a loan from their CEO kept them alive. The share fell to 4p and I bottled it and sold out. But I kept tabs on them and realised the worst had past and bought in at various levels between 15-34p. Obviously very happy now they are 180p but I never got to perfection by buying at 4p and looking back I still think I would have been mad at going in at this juncture never mind at the scale you claim to have done.

What were you thinking (I mean that in the nicest possible way!)?

Phew! Just notice of warrants being exercised.

Stand down....

Which you did admirably CCC. When I am world leader I shall employ you as my press officer.

CarefreeCarry - correct I said much the same in my post yesterday. In short no news is good news.

I would expect the next reference to production to come in the Q3 update. Unless something goes badly wrong that is.

You're all a bit too star struck.

Complete the following sentence - great minds think alike............?