Member Info for CarefreeCarry

An early Easter present from MTL. What a stunning turnaround from Darren and his team.

Feb 2022 MTL updated the resource model to show an increase in tonnage but at a lower grade. The net result was an overall increase of 30,000 Measured and Indicated Resource ounces.

The Runruno mine can only be mined one stage at a time as the waste from each stage is used to back fill the previous stage.

The ore body in each stage is already well defined from drilling that took place many years ago. The exploratory drilling generally intercepts lower grades on the Western extensions of the Runruno ore body, which is in line with the actual mining outcomes experienced. The ore grades in the areas being drilled are not economically viable to be mined.

I've never seen Johnybigarms and Lee in the same room together.

I'd say they have the same amount of shares as well ;-)

What happened to your capital letters?

Your first post your grammar was spot on. It's almost like a different person has taken over your account.

You have even contradicted yourself on the life of the mine from your first post.

You are incorrect, it was the BOD who turned down the debt for equity swap.

You are arguing that the major shareholders tried to wipe out the ordinary shareholders and also that one of the major shareholders blocked it.

The 13p offer was put to a vote and the major shareholders did not reach the required 75% to have the offer accepted.

The debt for equity swap was blocked by the board after consulting the retail investors.

14 years earlier a 13p per share bid from the major shareholders was also turned down by the retail investors.

Probably another 14 years before they try anything else. Come back and have a moan about them then.

It's strictly retail buys and sells here at the moment so only small amounts being bought and sold.

The small free float produces large swings in price on little volume either way.

I think you might be getting mixed up with a muppet on the ADVFN board. Easymoney or something like that.

Probably back posting on the Flat Earth sites now.

Purely retail buyers and sellers here. The major shareholders shares never change.

Why sell now? Traders taking profits, distressed sellers, etc.

No need to worry what anyone else is doing.

The 20km strike length of the Abra Project is the very interesting point that I picked up on.

If the exploration there shows good grades then even I would be expecting double digit SP's and I think you all know how conservative I am.

Are they all price points that Roy has bought and sold at over the last 30 days?

There is no pattern in those numbers listed so if you think there is a pattern Roy then please enlighten us. Think of it as a peer review of your work ;-)

Jennifer is clearly a genius and has spotted something that nobody else has - that a volatile AIM share can drop 10%.

What Jennifer can't see is that the share price has gone from 0.5p when Darren Bowden was appointed to where it is today.

The debt started off at £130m+ and you are saying there is still quite a bit left!!!

MTL could clear that with one good quarter.

If they just mine the current reserves the company will accumulate £200m of cash. Approx 10p per share, almost 4x the current share price for just doing what they have been successfully doing for the last 13 quarters.

I'll buy your shares if you are selling.

Less than 1m (£30k) shares listed as buys today. There are 2B+ shares issued. Not surprised that the SP is hardly moving.

Once the loan is repaid there will be approx £200m of gold left to mine, roughly 10p per share.

It would cost the major shareholders approx £38m to buy the remaining shares at 6p each and yet they allegedly paid almost twice that to buy MTL's debt. They paid more to buy the debt than it would cost to buy the remaining shares at 6p.

Once again, the major shareholders, since 2010, have done nothing to indicate that they are going to buy the remaining shares.

The two major shareholders tried to take it private in 2010 with a 13p per share offer (there were fewer shares in issue back then) but the remaining shareholders rejected it.

The two major shareholders bought the company's debt and tried to do a debt for equity swap but the BOD rejected it so they charged 7% interest on one portion of the debt and 15% on the other portion of the debt. 12 debt repayments later and the debt is almost gone. Two more payments and it will be cleared.

The above has been explained on here numerous times but uninformed, badly researched forum users still persist in posting that the two major shareholders will be taking the company private, etc.

Not querying your earlier comments, you're not the only one to notice lol.

Stick to acting on Coronation Street. You made more sense back then.

I'll go first with -

The gold will run out before the debt is repaid.

LOL.

Wishing all MTL holders a very Merry Christmas and a debt free New Year.

Since the debt was restructured back in October 2020, each quarterly update has been like opening a door on the MTL advent calendar. We now have 12 doors open and only two left unopened, although it does look like Lee has been lifting the corner of door number 13 for a sneeky peek ;-)

In each of the last 12 quarters various Grinch trolls have come along and tried to ruin the MTL Christmas only to be countered by the LTHs posting their facts and accurate research.

Now that the markets are closed for the holidays, how about a game of Grinch Bingo™️ to kill some time? All you have to do is write down 5 of the Grinch trolls' reasons that MTL holders should sell their shares. Then the MTL holders should post on this thread one of the memorable Grinch troll reasons from the last 12 quarters. When an MTL holder posts a reason that you have on your list, cross it off. The first one to get 5 five reasons crossed off will be declared the winner ;-D

Great additional info Lee. I was wondering myself where that had gone.