Member Info for CarefreeCarry

Yeah, because all your other investments never go down eh Surrey?

Well, apart from CNR obviously.

The plan was announced February last year. Once debt free we will be looking at M&A options.

How's that plan progressing?

12 months later, here we are, debt free and new owners of two huge assets, one of which will be developed using fcf generated by Runruno.

If we hadn't bought CNR we would have bought some other distressed seller. It's a buyers market.

MTL is up 40% over the last 12 months which includes a 1/3rd dilution from the CNR acquisition.

$2999 currently.

Ruffer, indirectly, have an interest in approx 3.5m shares of the approx 83m held held by BSRT.

Nigelbonger - The two former major shareholders made an offer many years ago which was voted against by the shareholders. More recently they tried to do a debt for equity swap that the BoD would not entertain as it would not have been in the interests of the other shareholders. The BoD, only last year, jettisoned one of the former major shareholders via a share buyback.

AngryBadger - There is a vast amount of historical evidence showing that when Darren says MTL is going to do something, it happens. From when he was first appointed as CEO the MTL Chairman stated the following :-

"Mr Bowden has 25 years' experience in mining across technical, operational and directorships covering coal mining and hard rock operations in more than seven countries. He has been involved in building mines from greenfield projects to working with and developing brownfield operations, both underground and open cast, as well as improving and sustaining existing operations."

6 years later this is still proving to be completely accurate.

Mr Bowden stated at the time :-

"I am pleased to be joining Metals Exploration during this next chapter. Runruno has the potential to be a leading low-cost gold operation and benefits from supportive shareholders and stakeholders. Clearly the focus is on ensuring Runruno can operate at its intended nameplate for a sustained period of time and I look forward to this opportunity."

He achieved that target and turned the company around so that, just over 5 years later, MTL were in the position to be able to aquire 2 companies, within a few months of each other, with assets that can ensure MTL's long term future.

Darren and his team don't just "seem" to do things they say they will do, they actually do do the things that they say they will do and have done, consistently, for the last 6 years.

Great find accipiter. The BoD certainly aren't hanging around.

Broomtree - The thread is titled and therefore about AISC. It is only you who has mentioned pre-production costs when you pivoted from the naive statement that talking about production costs before building the mine is not a wise move when it is actually a standard practice.

"Talking production costs before building the mine may not be the wisest move."

And yet every mining company produces a BFS which involves talking about production costs before building the mine.

45.93% not 43.93%

Good grief!! Okay AngryBadger, I will rephrase my post just for you.

Ex CNR shareholders selling, leaving ex CNR shareholders under water on the deal and moaning at the MTL long term shareholders for driving the share price up prior to the deal, that, in a well publicised democratic process, the ex CNR shareholders who could vote and wanted to vote (43.93% could not or did not bother to vote), they voted to accept, with over 99.4% of the votes cast being for the deal.

Yet there are no MTL long term shareholders moaning at ex CNR shareholders for driving the share price down by selling their converted shares.

Considering the above, it kind of makes it difficult to give a monkeys for the moaners.

I hope this works for you now AngryBadger.

And recovering today.

Isn't it strange that the posters that shout about a drop in gold price don't come back saying it's alright, it's gone back up again now. No need to panic.

The 10 year high on the shareprice is 6.94p. The deal price was almost 20% lower.

The MTL holders at the time of the deal certainly understood why the share price was at 10 year high.

Ex CNR shareholders selling, leaving ex CNR shareholders under water on the deal and moaning at the MTL long term shareholders for driving the share price up prior to the deal, that they voted to accept.

Yet there are no MTL long term shareholders moaning at ex CNR shareholders for driving the share price down by selling their converted shares.

Considering the above, it kind of makes it difficult to give a monkeys for the moaners.

Ex CNR shareholders whining about SP dropping and not seeing the irony.

Broomtree - The TR-1 form was included in the RNS showing that Drachs had crossed the 13% threshold on 24th Feb which shows that Drachs is indeed a buyer.

SurreyNot123 could have sold his 18m, 19m or 20m shares (whatever he's claiming to have this week) and been gone. What a missed opportunity!!

SurreyNot123 - From September 2020 until May 2024 all the money was being swept off the table each quarter to pay off the $137m of debt and during that time the SP rose as did the POG.

Not all of the forecasted fcf is being funnelled over to set up La India unless you have seen something different from the rest of us here. Could you be telling porkies again?

Good to see that you are back up to 20m MTL shares SurreyNot123. Taking advantage of the cheap SP to increase from somewhere between 18m to 19m up to 20m. Very shrewd of you, well done.