Member Info for AngryBadger

Yes after some further reading, it seems the government will mine the resources at some stage, but wants to keep tight control of it all and be involved in the running of it. So that answers that and we need not consider any more about it!

Looking forward to seeing how the MTL board go with this. Glad to be invested here - even if it wasn't the deal we'd hoped for originally.

Have we heard anything more about El Salvador? I hear the moratorium has been overturned, which is ... potentially interesting and if so MTL will have gotten a bargain on that too?

Coming from CNR, where over the last 12 years I've heard people claim it was going to be a major 10x multibagger on several occasions - which never materialized. It's hard to put any stock in such comments. Don't get me wrong, I'm sure we all hope you are right. and from what I have researched I feel like Darren has done an amazing job with MT, but many soon to be MTL holders transitioning from Condor will be a bit sceptical of such comments - just as they share a healthy amount of scepticism about whether or not any CVR's will pay out.

I hope that is the case, I use X-O.co.uk as my broker (Which is a trading name of Jarvis Investment Management Ltd).

As I was unable to get a response from them RE Voting, I will be happy to see that happen with no additional input. I have also written off the CVR's for similar reasons to you, I would b happy to see a gradual increase and given that it appear El Salvador has now overturned the mining ban this could prove to be an interesting time.

https://www.theguardian.com/world/2024/dec/23/el-salvador-overturns-metals-mining-ban

It is indeed smart. Personally I'm essentially already looking at my holding as MTL = CNR shares * 4 and CASH = CNR shares £0.099 - Assuming nothing fails with the aquisition.

Buying more shares seems to be risky and of course anyone crazy enough to be selling CNR to buy into MTL would miss out on the CVR's etc.

Worryingly, I need to contact my broker to find out exactly how this will be handled - as they never contacted me regards the voting. I don't expect it will be as easy as 'The new holding just appears in my share dealing account'.

I had not, appreciate the link - thanks very much!

If what LiqMyAce says is true (research to be done), things are heading in the right direction for MTL.

I've been here myself, although quietly, for about 15 years or so now. In that time I've seen no increase in SP and my average is a horrible £1.05 at last calculation.

I would not vote against the deal at this stage, because I believe to do is voting for more of the same, i.e very little movement and definitely a drop in SP from the levels we are now at.

I have my doubts about the legitimacy of the CVR's, but if MTL see's a re-rate once the deal is done we can all start to claw back some of the investment here. Some will be more astute than I, having invested lower, and it goes without saying that I'm now kicking myself for not investing more at 15p when I received a letter giving me the option to do so.

Alas none of us have a crystal ball, or we would've arrived here rather more recently.

Also since the CVR's have an expiry on them, what stops them from just waiting out the expiry plus 6 months before they pour the first gold?

I completely agree, it is. but it all went belly up so quickly 10 years ago, That I failed to react in time I've written it off until now. I'm 75% down on my investment for this stock at present but if this deal comes to fruition then great.

I have to say, having held CNR for a number of year and watching many of the 'old guard' slope off into the night quietly that I'm finally glad something is happening.

I have a relatively small holding, but I've longer considered the investment dead so this might give a fresh lease of life to it. It cannot cause any upset for stress for me, as I fully expected to get nothing.

Rerating to $1 billion dollar puts us aroun 816 million in GBP market cap, thats around £8.50 a share. Life changeing amounts of money.

I invested £4.5k at an average of about £1.16 several years ago now, not managing to get much progress but this little rise gave me some hope. I'll be happy to get the 4.5k back now (I consider it dead and gone, so it just sits and gets checked every so often).

I got in a long time ago, at an average of £1.16, so don't think its all a license to print money :D