Member Info for CarefreeCarry

Check my post from 14th Feb 2020.

I stated that in 5 years time the SP will be multiples of where it is.

SP was 1.6p.

Where will the SP be 31st Dec 2029?

Multiples of where it is today.

I'm just as certain of that as I was almost 5 years ago.

Over the previous 5 years we've seen know nothings posting various varieties of tripe on this board. The gold will run out before the debt is repaid. The share restructure means that there will be a cash raise. The major shareholders will be taking the company private with a low ball offer, etc, etc. They were all wrong. 100% wrong.

You would not be able to get a 75% vote passed on any other bids which is why no other companies have made any other bids.

You can keep deluding yourself for another 7 days that another bid is going to be made if you want to.

There would actually have to be someone who is interested in making a hostile takeover bid.

Tick tock..... time's running out.

Bertmonkey - You need only 25.01% to vote no for the deal to fail. That can't be too hard to achieve for such an allegedly unpopular deal, especially with all the other bids that are going to materialise out of nowhere.

When the deal is completed, the MTL shareholders that have sold to buy CNR shares will have to buy further MTL shares to restore their holdings to their original level.

If CNR shareholders, who have held their shares throughout the years of glacial progress here, will then be selling their MTL shares when their hopes and aspirations, for the asset they initially invested in, are finally set to be realised then those shares will be taken up by investors who have not been prejudiced by the CNR board and it will be they who reap the rewards.

LMA - It's just distressed sellers here who have bet on black and the ball landed on red and they are hoping that the croupier will just give them a respin.

Over the past couple of weeks, all we have heard is that there is going to be a bid from Calibre, China, etc.

The reality is tumbleweed.

Tick

tumbleweed

tock

tumbleweed

tick

tumbleweed

tock

tumbleweed.

Who would have thought that a mining company would plan to mine precious metals that have been discovered in the ground?

Phew, you guys are so astute.

They will have to use it to buy more MTL shares if they want have the same size or bigger holding as before but they will have to be quick as the buying pressure will drive the price up rather quickly.

Darren Bowden is one of the top 5 mining experts in the world.

Just let that sink in for a moment.

I've seen some CNR holders posting here that they think he seems to know what he is talking about.

That's like saying that Lionel Messi seems to be able to play football.

To a mara - Just to the right of the share chat icon is the MTL Live RNS icon.

Tap on it and have a read.

We should know how speculative our existing exploration acreage is within the next three quarters.

There are no confirmed reports of any other offers being made.

When you have a stressed seller it is better to wait and let them reach desperation point before making an offer. It usually gets snatched up then. The sellers choice is to either wait for the always out of sight, always just around the corner, jam of tomorrow while the value of their investment evaporates into thin air or accept the offer from a company that has the skills and personnel to bring their dreams to fruition while still leaving them invested in the dream.

Ms Evans of Drachs Investments has decided to back experience and skills by investing in MTL when she could have bought CNR outright herself with her inheritance.

Mikehr1991 - The sp is up over 1000% since Darren Bowden became CEO almost 5 years ago. The new BOD turned the mine around and made it profitable, repaid over £130m debt to become debt free, got rid of a troublemaking major shareholder and we now own the Abra Project with exploration well underway there.

You have been hoping for dividend payments even though Darren Bowden has stated in numerous interviews that there are no plans for any dividend payments.

If we are always waiting for good news to shoot the SP up then how do you explain the over 1000% rise?

It's hardly a dramatic action. We've had similar falls after a record breaking quarterly update. All you're seeing is the weak holders, yet again, doing what they usually do.

Looks like they'll be aiming to offer around $60m - $70m.

$25m from shares in treasury, $15.5m from cash in bank and new loan, plus Q4 free cash flow.

Yes Gold-Miner, definitely churlish. Gold just isn't distributed linearly throughout the ground so the grade rises and falls as it is mined.

If you will moan about a possible 17.5k oz quarter (not the 16.5k quarter that you stated) which is only 2k less than than one of the earlier quarters, which itself was 3.5k oz lower than the previous quarter but you didn't deem that drop worthy of a moan about at the time, then what is your problem with being in a share that has risen 130% over the last 12 months?

This thread is titled David Cather. You chose it yourself.

It seems that you can't see that you've contradicted yourself.

Non-execs just eat biscuits - I agree, they do not actually run the company. So their performance, other than eating biscuits, is not really reflected in the running the company.

Your "facts" are actually nothing more than just your opinions.

It is only now that you are blaming Mr Cather for your loses in GAL but in the past you have clearly blamed the CEO. You have even owned up to your mistake in investing there as you believed the CEO.

You have also stated that "an investment in MTL is an investment in Darren Bowden who so far, has done a great job for investors. I for one trust his judgement."

Is this still the case?

Maybe the £630 sell was you taking your gains here after recovering your losses at GAL.

Here's where it says that he wasn't involved in the loan agreement :-

"The resignation of Mr Cather as Chairman was against the wishes of the majority of the Board (with the exception of Mr Guy Walker, RHL's representative on the Board) as well as the Company's largest shareholder, MTL Lux, particularly in light of his contribution to the Company and its ongoing successes since joining the board in April 2021. RHL has informed the Company that the reason for its actions was due to perceived issues with the Company's corporate governance arrangements, which, again, is not a view shared by the majority of the board or MTL Lux."

He joined the board in 2021 and the debt restructuring was agreed in 2020.

How is he responsible for the loan agreement?

A time machine?

So you belive that David Cather was responsible for the loan agreement that gave RHL extra millions in interest. How strange.

The RNS dated 18th September 2023 stated the following :-

"Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), a gold producer in the Philippines, announces that its independent Chairman, Mr David Cather, has resigned as a Non-Executive Director and Chairman of the Company, with immediate effect."

"Mr Cather has resigned these positions at the insistence of the Company's second largest shareholder, Runruno Holdings Limited ("RHL"), a result facilitated by certain provisions of the bilateral shareholder agreement that RHL entered into with the Company's largest shareholder, MTL (Luxembourg) S.a.r.l. ("MTL Lux"), at the time of the Company's debt restructuring (the "Bilateral Shareholder Agreement")."

"The Bilateral Shareholder Agreement was entered into in conjunction with the new relationship agreements that the Company executed with each of RHL and MTL Lux, as part of the Company's debt restructuring in October 2020, and which replaced the historical 2011 Shareholders Agreement. The 2011 Shareholders Agreement contained certain provisions that restricted the board of Metals Exploration (the "Board") from being able to act independently of RHL and entering into the Bilateral Shareholder Agreement was a necessary private concession that MTL Lux was required to accept, in order to ensure the continued public quotation of the Company at this time. The Company understands that, under the Bilateral Shareholder Agreement, MTL Lux is bound to vote with RHL, if RHL votes against any resolution at the Company's general meetings, and vice versa."

"RHL initially advised the Company that it intended to vote against Mr Cather's reappointment at the Company's recent annual general meeting on 19 June 2023 (the "AGM"), requiring MTL Lux also to vote against the reappointment pursuant to the terms of the Bilateral Shareholder Agreement, which would have led to Mr Cather's reappointment not being approved. In order to avert this outcome at the AGM, and in an endeavour to ensure a smooth transition to the appointment of a new independent Chairman, Mr Cather agreed with RHL that he would resign from the Board at the earlier of i) the Board of the Company appointing a replacement independent Chairman, or ii) 18 September 2023. The Board has, to date, been unable to secure a replacement independent Chairman but remains committed to achieving this as soon as practicable."

So Mr Cather was forced to resign because of the actions of the shareholder that had benefited from his alleged loan deal.

Would you care to revise your comments to reflect the actual truth of the situation.

The former major shareholders were convinced by Darren Bowden that he could turn the mine around. They therefore felt that the risk was reduced enough that they bought the bank debt.

They then tried to negotiate a debt for equity deal that would have severely diluted the remaining shareholders. Their plan was for a bigger share of the company but not the whole company.

If they wanted to take the company private they would also have taken the opportunity whilst the market cap was at its lowest point.

Also, if Candy still wanted to take the company private then there would have been no need for the recent waiver vote.

So you think his plan was to get the waiver so that he can continue selling his shares to Mrs Evans before making a bid to buy the remaining shares at many multiples of what he has sold at!!!

I've known you through this board for a few years now Lee but I seriously don't know how that makes sense to you.