Member Info for CarefreeCarry

Some people don't like a quiet forum it would seem.

Unless there are restrictions in place as per the recent pandemic.

189,000 oz's of gold left after the previous update.

Check back through earlier posts from 6 moths back and you will see that MTL would have been able to build up a cash balance of $220m with the remaking gold 2 quarters ago.

Now, after clearing our debt and buying back RHL's shares for approximately $26m, we are still looking at being able to build up a cash balance of almost $220m with what is remaining.

We are in an even stronger position than we imagined 6 months ago.

Mr Candy sold 217.5m of his shares in an off market deal.

The volumes traded prior to the TR-1's being issued did not show 435m shares traded. With the daily volumes that we've had it would have taken almost a year to complete those two trades. If you want to argue that Mr Candy is selling shares on the open market then that means that nobody else has bought or sold any MTL shares for almost a year.

He did not sell them on the open market. He would crash the share price if he tried to sell his shares on the open market. He would not get the price that he got in the off market trades.

Mr Candy is not dumping shares onto the market.

We do.

Only for another 20 days.

They have agreed to sell their shares to MTL for 5p per share. It was RNS'd.

MTL shareholders had to vote to accept the agreement. You might not have known this if you don't own shares in MTL.

He corrected himself at 9.01am to state that he meant RHL.

MTL Lux have not been dumping any shares. Mr Candy sold two tranches of shares to another individual in an off market sale.

The comment about RHL selling their shares.

They are selling all of their shares to MTL for 5p each in a private, off market sale. It was announced in the Buy Back RNS. Maybe you should gave read it.

If they tried to sell their shares on the open market they would totally crash the price and would not get 5p per share but it doesn't matter because they have already agreed to sell them to MTL.

There are 189,000oz forecast remaining to be mined.

That equates to $470m revenue at current gold prices.

Currently ASIC is forecast at $1175/oz.

Which leaves $1325/oz banked ($250m).

Cost to close Runruno mine - $5m

£20m to buy back RHL shares (approx $26m).

Cost of Abra tenement buyout effectively $0.5m.

$218.5m for the BoD to plan their next moves with.

Chilli - I tried to point out to him that prices are affected by supply and demand but he doesn't seem to be able to understand basic economics.

Don't forget, this is the guy who over the last two years has at various times warned people against buying MTL shares (share reorganisation at 0.8p - bad for shareholders apparently!!, not to get spiked at 4.7p - it reached 5.85p shortly after!!) and encourages people to sell their shares to bank at 10% but complains that the SP drops when this happens.

He knows that MTL is debt free and has a new project lined up but doesn't seem to understand that this was communicated to him by the company that is disastrous at PR.

Weird? Definitely. Clown like? Absolutely.

It has been explained to him previously but he is obviously too dumb to understand.

Any company that produces gold for an extended period of time will at some point be producing gold at record high prices. That isn't down to luck it is due too the nature of gold itself. It is a finite resource. Some studies are suggesting that economically recoverable gold will have all been mined in about three decades time.

So are gold mining companies benefitting from the dynamics of supply v's demand of a finite resource or are they just continually rolling double sixes? According to Tygra, double sixes is the correct answer.

Also, how can anything be sold for over 100% profit? Pre-tax profit is the difference between sales and cost of sales.

Candy sold two tranches of shares. First tranche was 2.4%. Second tranche was 7.94%

Mrs Evans' TR-1 notified her position of 10.34% (2.4%+7.94%) on the same date that Mr Candy's TR-1 notified the sale of his second tranche of shares.

These shares were traded off market. You only have to look at the daily volumes to see that. How long do you think it would take to trade a total of 435m shares on the open market?

According to the RNS's there have been payments totalling around £7m ($9m) for the one off event of settling the debts and that includes the legal fees.

There have been no payments yet regarding the share buy back as this requires shareholder approval.

That leaves $10m as yet unaccounted for. The proposed drilling work on the Abra tenement will have accounted for a fair chunk of that so hopefully that is now complete and we are just waiting for the results which Darren has previously stated are expected in H2 2024.

If the JORC figures show a resource of 1m ozs in the Abra tenement and with gold currently at $2400/oz then I would expect to see a 7-8p boost to the SP.

Yes Lee, we know from historical surveys and drilling that there is gold there as well as copper but until it is JORCed we don't know with confidence how much is there. That is when investment decisions can be made.

The buy back shares are going to be held in treasury so probably will eventually be reissued over time.

We have to bank another £9m by the end of next month to complete the first two proposed buy back tranches as per Buy Back RNS. Then we have to bank a further £4m by the end of September for the final tranche. It should all be covered by free cash flow but $24.8m free cash flow only produced $5.5m being banked for Q2.

The exploratory drill results from Abra is the big unknown at the moment. If those results show a similar sized ore body as the initial Runruno ore body then the SP should hit double digits when those results are released.

Otberwise we should see a slow rise in SP as the bank balance increases each quarter, approximately 1p per £20m banked.

It doesn't change the fact that he is now a convicted felon, found liable of fraud and defamation, judged to have raped E Jean Carroll and still has 54 other charges awaiting trial.

Americans don't vote for criminals which is why Trump's supporters are trying to make out that Joe Biden is a criminal but unfortunately for them there is zero evidence to back up their claims.

One crackpot taking a potshot at another crackpot won't spook the world into buying more gold Lee.

Even the crowd behind him sat down calmly and got their phones out to film the next act.

Tygra - It is not correct to say that he became chairman of a company if he didn't. It's quite simple. I like to deal with facts. I know what you are thinking, facts can prove anything. So why cloud your judgement with facts when you can use instinct and blind prejudice?

"the shareprice determines if you make money or not."

So now you are moving the goalposts. Now it is about making money and not the value of the company.

"Three years ago 5p, now 1.32p,"

Seven years ago 2.6p, three years ago 5p.

"therefore, you CAN'T sell your shares for more than you bought them."

But you could have if you bought shares when he was appointed chairman and sold them four years later.

"AIM is for trading, not investing, it isn't a pension/tracker fund, it's a gamble. If you don't sell 'some' of your shares on the way up and take profit you will (probably) lose money in more than 95% of AIM companies."

So those people that sold their shares and made money are now complaining about" value destruction" are they?

"MTL is a relatively well run AIM company"

Relative to which other AIM companies?

"he has turned around a failing mine and produced profit (a rareity on AIM)"

So that would be an exceptionally well run AIM company then wouldn't it? You know, with it being such a rarity on AIM.

"a currently productive gold mine that is producing gold at a time of record high prices (pure LUCK)"

Record high prices is pure luck is it? Since the record low price of $17.06 per oz all the prices since then have therefore been a record high price at some point and gold is not looking likely to revisit the record low price any time soon. Any company that produces gold for any extended length of time will be producing at a record high price.

"NvS is a serial failure and destroyer of shareholder value"

To have bought 10% of Arc when he became chairman would have cost £380,000. To buy 10% of Arc now would cost £1,800,000. Neither failure nor destroyer of shareholder value.

"As for your other nonsense explanation"

So you disagree with me stating "The market cap is a product of the share price, therefore it indicates the market value of the company."

"and less shares in circulation 'should' increase our value and the share price"

Now you are agreeing with me when I stated that "The market cap is a product of the share price, therefore it indicates the market value of the company." The value of the company should remain the same as nothing fundamentally would have changed and because the shares in issue has decreased it therefore means the share price has increased. That's just the way that maths works so it can't be argued with. More of those pesky facts again.

"No more from me to you."

Again? Seriously? Do you know how many times you have said that to me? That has never been true yet.

Tygra - The share price is determined by the market's valuation of what the shares are worth, what people are willing to pay for the shares.

The market cap is a product of the share price, therefore it indicates the market value of the company. If the market cap has increased then it is an undisputable fact that the market (share buyers and sellers) has determined that value has been added to the company.

He became the chairman on 8th September 2017 with the share price at 2.6p and 148m shares in issue. The share price is currently 1.3p with 1.4b shares in issue.

NicotineNelly - Tygra is complaining about the share price dropping in the same post that he advises people holding shares in AIM companies to not hold onto them i.e. should sell their shares (which would drive the SP down). So follow his advice so that he can then moan about the share price dropping.

I can remember him also warning shareholders here about the share reorganisation being bad for shareholders. That turned out to be complete bs as well.

Just checked Orosur as you suggested. He isn't even the chairman there. Outstanding research.

NicotineNelly - I have taken a look at Arc Minerals as you suggested. MC of £4m when he became chairman, current MC of £18m!! Who is describing that as value destruction and why?

Just for clarity though, the rights were removed by the shareholders themselves by voting for the resolution.

NicotineNelly, did you vote for or against the resolution?