Member Info for adamsmithfreethi

Applies in Canada too. Just for the avoidance of doubt

Those buys were mine. All at 13.7-13.75. I stopped when the quote moved up to 13.9. Let's see if I've mopped up the overhang of shares...

Mikehr buying and selling like you imply you are doing particularly on how you are feeling that day is great news for market makers. For MTL the bid/offer spread is 5-10% depending on market conditions. At these levels the house always wins.

I suggest you take a view and stick to it unless to paraphrase Keynes the facts change. In MTLs case they really haven't unless they are fibbing when they say they have the artisanal mining situation under control.

Trading profitably only works when (a) spreads are very tight

LeeH - I do read the FT but my views on gold are not defined by it to say the least! The questions I wanted posing are, I believe, reasonable and questions DB would have asked himself.

I haven't received anything from Tim Blythe yet...

Message sent and reads as follow:

Hi Tim

I have a question relating to the above RNS today which I wonder whether you could pass on to Darren or some appropriate person in MTL.

Basically it relates to the settlement MTL came to with the artisanal miners in the Philippines.

The deal as explained in the AGM was, as far as I understand it, the same for Philippines as that proposed for Nic. Basically it was as follows; give up trying to process your ore in your back garden and getting a 30% yield. Instead we will process it for you and get 90% yield. The yield we get less costs you will get half of it back which is more than you are getting now and the other half goes to government agencies involved in restoring the devastation caused by all those illegal ball mills in peoples' back garden etc etc.

DB sold it as having worked in the Philippines so it should work in Nic. Now it looks like it hasn't worked 100% in the Philippines. I want to know why. Is it new artisanal miners not covered by the agreement or existing ones double crossing the company? Or is there another explanation? Will Nic be substantially different than Runruro and if so why?

Thanks I'll do that. I met the Blythe chap at the AGM as a matter of fact....

The deal as explained in the AGM was, as far as I understand it, the same for Philippines as for Nic. Basically it was give up trying to process your ore in your back garden and getting a 30% yield. Instead we will process it for you and get 90%. Less costs you will get half of it back which is more than you are getting now and the other half goes to government agencies involved in restoring the devastation caused by all those illegal ball mills in peoples' back garden.

DB sold it as having worked in the Philippines so it should work in Nic. Now it looks like it hasn't worked 100% in the Philippines. I want to know why. Is it new artisanal miners not covered by the agreement or existing ones double crossing the company.

It's a perfectly reasonable question to ask but I can't find anyone to put it to.

I've looked at the website and basically couldn't find anything useful. I'm keen to know more about the recent artisanal activity reported. When I was at the AGM DB explained how they apparently work with the artisanal miners so they get into a win-win situation. I was impressed by his response and it seemed such as sensible thing to do. However, the latest RNS MAY imply that the AMs want it both ways. I.e. yes please process our ore mined in your mill oh and you don't mind us going behind your back and doing a bit more?

I'd like to find out whether this is likely to happen again and maybe also in Nic.

Suggestions for contacts welcome

Indeed always good to get a sense of perspective...

So Chat GPT - let's see!!!

Finally for an economically viable find

Clearly economic Au intercept (e.g., tens of metres at robust grade, or high-grade narrower shoots with continuity)

Probability - 5–15%

Descript - True economic thickness/grade is much rarer; plenty of pipes are Cu-rich or only weakly auriferous. District proximity helps, but doesn’t guarantee

Meaningful Au intercept (e.g., multi-metre runs >0.5–1.0 g/t)

Probability - 15–35%

Descr - Many IRG/pipe systems give patchy but real Au; still a coin-flip at best until assays define where the system’s “hot spots” are

The answer was very detailed and it seemed remarkably well informed as to what is going on. The answer was very detailed and convincing but it's summary was as follows:

Outcome (first assays from this hole) - Any detectable Au (e.g., >0.05–0.1 g/t in parts of the interval)

Rough, illustrative probability band - 50–75%

Why this range isn’t crazy - The textures + sulphides make some Au anomalism plausible, especially near margins of breccia bodies where grades often peak. But “detectable” ≠ economic.

The question I asked was...

WSBN gold has just struck a brechia pipe in Western Australia. It is within 20 miles of similar proven gold bearing brechia pipes. However, the drill cores although containing materials such as quartz implying volcanic or metamorphic activity have not yet been tested for gold. What are the probabilities of gold being detected

Why? On what subject?

We're in the dog days of summer. Lack of action in the share price despite 3 positive RNSs is to be expected....

PS trading in junior miners is generally a dumb idea. Trading is the absolute lack of volatility and thus associated liquidity is dumber still!

Unless of course you are are book building on behalf on an II and hoping to dupe a load of RIs into trading their shares in the hope of then buying them back later for a lower price. That somehow never materialises....

Ah - you may be right. I was confused whether a small scale plant would be set up or whether the artisanal ore would be blended in with the rest and they would get their cut

Not sure whether it will be very much. The cost for MTL will be setting up a small scale mini processing plant that the artisanal miners can use rather than the crude facilities they have in their back gardens.

Still be gold riding high MTL should be making out like bandits in this quarter so, for once, money won't be a problem.

If this share was a song it would be a banger!

Yes I console myself that I hold both THS & SLP in much greater numbers than JLP...

Sigh...

PS - if Leon is the brains of the company I hate to think who represents the rear end!