Member Info for bloodninja

Don't worry the 30p ramping crew will all be back when this spikes shortly

Absolute bargain basement currently, are people forgetting this company owns 49% of a logistics firm that is currently operating at its seasonal peak levels outside of its seasonal peak? Obviously the share price is 100% and reflects the exact value of the company, as every share price always does, but seems like there's serious upside value to be realised here when the trading entity posts bumper one off profits that can essentially put a huge dent into the expensive rescue debt they took on! Basically, current trading volumes are a blessing to give revenues the boost they need to return to stable, appropriately position. Plan is to hold and sell out when the above comes to fruition.

Absolute bargain basement currently, are people forgetting this company owns 49% of a logistics firm that is currently operating at its seasonal peak levels outside of its seasonal peak? Obviously the share price is 100% and reflects the exact value of the company, as every share price always does, but seems like there's serious upside value to be realised here when the trading entity posts bumper one off profits that can essentially put a huge dent into the expensive rescue debt they took on! Basically, current trading volumes are a blessing to give revenues the boost they need to return to stable, appropriately position. Plan is to hold and sell out when the above comes to fruition.

The underlying value is key here, any update on logistics trading position and some figures will help ascertain value of ESLs only asset, a 49% shareholding Eddie. It's clear that investment company route is being considered, which makes me think that they may well liquidate the 49% but preferably at a good price, the latter will depend on how well the trading entity can sort it's finances, one would hope that with a bumper quarter they've been given the lifeline of an income spike that can be strategically utilised to prepay some expensive debt, this returning the company back to pre-suspension levels! This is my hope anyway, differing views welcome. Won't make much of an investment company unless they learn to keep news flowing!

Bid is shooting up, news leaked somewhere?

Absolutely! From ESL, with shareholder approval. They won't get mine.

Ecuador shut down, 20% down from day high, buying opportunity just gifted

Presume the dividend won't be repeated as a 50% yield is relatively appealing

So if they thought their employer was going to get regulated out of business they'd continue buying shares? Doubt it.

Surprised there hasn't been more updates from the company given the absolute battering of the share price

One has to wonder why staff purchases would occur unless they had some sort of view to the outlook of their business!

I'll stop prattling on now, it is indeed a sad day for this share, a literal gold mine where shareholder (well PI) value cannot seem to be realised.

Quick google on this one confirms that they are now formally in default on their loan, so seems that the Candy boys have indeed pulled the plug, as expected I guess but welcome views on what a decent outcome here would look like (no head in the clouds responses plz)

Unlikely, who is going to buy the shares of an insolvent company? The Candys are now the bank so they can just default the debt, force administration as largest creditor, then buy the company for nothing under a prepack arrangement.

It seems shareholdings are irrelevant now, the Creditors will make decisions here and when they formally demand 100% of debt to be repaid and the company cannot do this, they'll stick it into admin and prepack it. Absolutely fantastic play by the Candys, can't knock their ability to make serious money, and fair play to them for accepting the long term view here if the above strategy plays out; will take them ages recoup their decimated investment but I guess if they get the company for £1 and only have themselves to pay a dividend too it's a steady return for them

This does not look good, I admit I jumped ship on the decline and current situation appears that the Candy's are going to withdraw the standstill, default the company, and take over it. I have limited knowledge of this but could they put in administration and pre-pack it to themselves and obtain the residual shareholding for free? Seems like the most obvious thing to do here.

Appreciate this is negative but it's a disastrous outcome here, and to those that will say how can you put an 80k gold producer into admin, simple, the company is insolvent. Such a shame, not sure why we ever thought having one large shareholder was such a blessing! Or hopefully I'm wrong and the billionaires will write off a load of debt they purchased and shore the company up, why would they though?

Extremely disappointing share price performance has to be said, been holding for ages but this share seems to stitch itself up every time a decent gain is made. The D4E scare is valid and I accept the impact it had on the share price, however the current gold price is an incredible opportunity for MTL to erode the debt burden, and thus I share the view that the D4E doesn't need to be an almighty number. I just wish I had the patience of Roy, Lee, and co! Still in for now, but can't see much to move the price unless gold goes ballistic or until next quarterly update. Rant over. BN

I've done some ultra crude maths, so the debt is GBP 53 million, if they convert the lot at 0.0135 then shares in issuance would increase to 6 billion. If the company then has the ability to knock out a dividend of say 15m a year, then capitalised at 5% return that equates to a 300 million mkt cap which based on 6 billion shares in issue is 0.05 (triple where we are today). So essentially this is the softest route to this becoming a dividend paying share, and you'd better believe the Candy boys will want to start stripping capital out of this via a dividend at the earliest opportunity.

Just some thoughts

Drive down the price of something they already own a huge chunk of? Yes, I'm sure that's how they became so wealthy.

AAZ is similar in terms of production, but is debt free and paying a dividend. Their mkt cap is 164m which 5.8x MTLs. Given it will likely take 5 years to clear all debt and get to a decent divi at MTL I would estimate that with a 5-year achievable refinance and production efficiency achieved share price would initially increase to around c80m mkt cap (so 3-3.5p), that's pure finger in the air guesswork though!

The company likely has at least 30 days to provide it's quarterly MI to the bank so wouldn't be surprised if it isn't finalised yet, unless the FD/FC was working hard on New Years day! Doubt it though