Member Info for CarefreeCarry

Which pre-emption rights are being removed?

SJN1 - Gold jumped high on Wednesday. Why weren't you asking questions about the jump?

Fulmar29 - They haven't been buying them openly. Check the volumes.

She seriously wants in. How do you accomplish this with an illiquid share?

Buy a tranche in a cash raise? No cash raises needed so can't do that.

Buy on the open market? Try buying 220m shares without driving the SP into the stratosphere. Won't be doing that.

Buy privately from a large shareholder? Large shareholder gets fair value, new shareholder gets fair value. Win - win for both shareholders.

She has now bought 220m shares in MTL and people are still saying sentiment is getting hammered. Why can't they see what is happening in front of their very own eyes?

They have to TR-1 when they cross 3% and then any time they cross a percentage point.

If other people purchase directly from Mr Candy but stay below 3%, as with the first tranche bought by the newly widowed Mrs Evans, then Mr Candy will still have to TR-1 each time he crosses a percentage point as he did back in April.

We will still get people posting on here how Candy selling his shares is hammering sentiment while strangely avoiding the fact that another multi-millionaire is buying them.

Now we know who bought the shares directly from Mr Candy.

Candy has sold two tranches of shares 2.4% and 7.94%.

Helga Evans now owns 10.34%.

She seriously wants in.

Leo - The production fee was negotiated as part of the original Mezzanine debt facility.

The following is from the debt restructuring RNS issued September 2020 - "The Group will no longer be required to pay a 1.3 per cent. gross production fee upon gold production (which is a requirement under the existing mezzanine debt facilities in respect of the period up to 30 September 2022)"

Looks like it should have been paid since September 2022 but now MTL don't have to pay it to RHL anymore unless there is more gold found at Runruno.

I'd be more than happy to pay a production fee to all shareholders once all the gold has been mined at Runruno.

Shareholder approval.

Thanks for reading my earlier answer.

Shareholder approval.

In the interview given earlier this year it was said that small scale processing can be used in some prospective sites. A processing unit can be purchased for $1m.

The decommissioning and land restoration of the current mine will cost around $5m.

The processing plant and equipment, along with the fleet of mining vehicles will then be transferred to the site in the Abra tenement.

There will not be the same capital outlay for the new mine as there was for the current Runruno mine.

Dusterinmong - MTL Lux owned 70% of the debt. Some"fools" are now incorrectly saying that is 70% of shares issued because it suits their narrative.

The two major shareholders now own 62.29% of the shares issued so it would be difficult for them to get an offer accepted.

Accipiter - There were no interest payments of note to them until the debt was rescheduled so how were they dangerous to us back then?

Accipiter - So you think Candy's are looking to buy us out on the cheap!!!

Back in December 2018 when the SP was 0.45p, the remaining 708m shares were therefore valued at £3.2m. So the major shareholders brought in Darren Bowden to turn the company around and paid, for arguments sake, £40m for the bank debt to refinance the company, which drove the SP up to 5.85p, so that they can later make a bid for the remaining 708m shares valued at £70.8m. That doesn't really look like good business.

Dusterinmong - most performed adequately. Equally the rest could have performed better than adequately.

The derampers will always push to the negative, something that isn't there.

I posted that at the end of April.

I was questioning why the bed wetting derampers were not jumping all over that sentence.

I was being sarcastic hence the "/s" at the end of the post.

Thank you dusterinmong for proving my point.

It depends how many of the 50m shares are left to sell. Once those are sold the price will recover rapidly.

Another 85k for me. See how it shows up in the trades.

Mr Tygra has reappeared. I remember you from a couple of years ago posting about how the capital reorganisation would be bad for shareholders. That was at around 1p per share. That doesn't look so good now.

"If you choose to close your eyes and put your fingers in your ears you'll lose money." It's a good job that the last time you posted that statement nobody listened to you because they would have missed out on the rise from 1p to 5.85p. A more accurate statement would be" Listening to Tygra will lose you money" There you are, I've fixed it for you.

"I'm happy he did because it means we have approx 4 years of life left at Runruno which 'should' ensure no more debt/dilution comes anywhere near this stock."

I also remember you posting about the cash raise that would be coming at 0.8p and that you wouldn't be posting again until the cash raise. Now you are back and ironically you are stating that you are happy that you been proven wrong with the cash raise nonsense that you spouted less than 2 years ago.

"he's done poorly and put out incorrect information" This coming from the acclaimed master at putting out incorrect information.

"The fact you can buy shares for 4.5p" Your were warning people about putting fingers in ears back at 1p per share. I have to ask, from your perspective, what went wrong?

"does nothing to encourage new investors" A bit rich coming from someone who was actively discouraging new investors with outright lies less than 2 years ago.

So Tygra, it has been lovely having this catch up with you but now it's time for you to jog on once again. Maybe this time you will will keep to your promise not to post here until the cash raise at 0.8p arrives.

Somehow I doubt it though. A bit like The Shareminator, you'll be back.

Shareminator - "unfolding clusterf*ck announced today." This was signposted months back with RHL disputing the rate cut. I even replied to a poster back then that the clearance of the Mezzanine debt facility before the "Elevation" of the debt status is completed could provide the lenders with a get out clause. Turns out I was correct in arriving at that logical conclusion. Stating that the situation has unfolded today indicates that you should try to keep up with events a little better than you are currently showing.

"Expecting mine operations to run as expected from feasibility studies is par for the course." Some of the long term holders here will remember that this wasn't the case with this Company until there was a Board change just over four years ago. Since that Board change was implemented the Biox recovery process problems have been understood and solved, gold recoveries were improved, the mining scheduled was revamped, the pit design was changed to prevent the mine becoming waste bound. All obviously expected to be happening but wasn't actually happening historically.

"... the PR debacle that they now face." We're so far under the radar that it's likely that there are more British acts on this season's BGT than people that will know about today's RNS. There's less than a dozen posters on here throwing a paddy about the RNS and that includes the clueless muppet JWBelamy.

"Indeed the share price was well on it's way to 10p" If you think 5.85p is well on the way to 10p your education is lacking some what.

"perhaps take your head out of the sand and acknowledge the price destruction owing to some shady backroom dealings." My pointing out that this exact scenario months in advance shows that I'm looking at the bigger picture which certainly can't be seen from a head in the sand vantage point.

" As demonstrated by the weakness in the share price the question still stands, are the board really up to the job of defending shareholder interests?" So a Board that turns a company around from the brink of bankruptcy, in your view, isn't really up to the job of defending shareholder interests. In that case, sell up, take your profits and move on because your gamble has paid off. Go place another bet elsewhere, your luck could still be holding.

We don't need 7 days, we have enough cash in the bank already to clear it.

The debt restructure involved banks, the Philippine government, the two major shareholders and the BOD. Everything was written down and signed.

The "assurances were given either on an informal basis or for a limited period only" statement refers to MTL Luxembourg's initial stance that the Mezzanine debt facility rate should be reduced to 7% with effect from 2nd November 2022 (and here is the important part) upon completion of the elevation of the Mezzanine debt facility to secured status in a timely manner.

The timely manner was dependant on the two major shareholders, the Philippine government and the BOD.

Lots and lots of signatures involved.

"Are the board really up to the job of defending shareholder interests?"

A board that, since hiring new CEO Darren Bowden, has successfully renegotiated the debt that was crippling the Company and have now practically repaid said debt without the debt for equity that the two major shareholders were asking for.

A board that, since hiring new CEO Darren Bowden, has turned around the performance of the mine to the steady state producing mine that we now have.

A board that, since hiring new CEO Darren Bowden, has seen the share price rise from 0.5p to 5.85p in just over four years.

A board that, since hiring new CEO Darren Bowden, has formulated a pathway that drives the Company forward with additional income streams and resources that will guarantee the future of the Company.

To paraphrase Monty Python "Apart from the sanitation, the medicine, education, wine, public order, irrigation, roads, the fresh water system, and public health ... what have the Board ever done for us? Brought peace"