Member Info for CarefreeCarry

TheNavigator - "some despot"!!! Why would you insult the Philippine nation in that way? Mr Marcos was democratically elected in the same way that previous encumbants were.

Tearing up international agreements seems to be something that our current government is more than comfortable with. Maybe that is clouding your thinking.

TheNavigator - MTL has has an FTAA since 2009 which is a binding agreement between the company and the Philippines and is valid for another 12 years with the option to extend it for a further 25 years.

Wasn't your last post about how inflation wouldn't be running away when it was at 4.2%?

I think you also commented about the merits of Bitcoin.

Hmmmm lot's of de-rampers out lately. Is it half term?

Ignore whoever Tygra is Lee, nothing but a paid share troll. 20 posts yesterday, 20 plus posts today.

Cutting and pasting the same fingers in ears insults to different posters.

At least Tygra can't be accused of having fingers in ears with all that typing they are doing.

Tygra - Just vote against resolution 11 and your "secret" placing won't take place if the same number of votes as last year go against it.

That is if you are a shareholder of course.

gav0106 - It is just the nominal value that is being changed. That is not the share price that the shares are bought and sold at.

I'd check your maths again if I were you. Both your calculations are wrong.

Jim - Would you be buying them for a short term gain or would you be holding on to them for the long term?

Either way expect the share price to drift lower for the next couple of quarters as production drops due to the lower grade area being mined. The Board are expecting to make $36m in debt repayments this year and have paid one third of that in the first quarter.

CV7Blue - The only way the major shareholders can get more shares is if they buy them on the open market. That clearly isn't happening.

They tried debt for equity swap but the Board stood up to them and refused.

The major shareholders bought the Bank loan when it would have been cheaper to buy the outstanding shares. They didn't buy the outstanding shares. What does that suggest to you?

The percentages are not going to be adjusted or affected. You will still have your 5m shares.

We will all be holding the same number of shares at the end of the process. I have 6m shares now and will still have 6m shares.

The nominal value of those shares will be £0.0001 instead of £0.01. The actual value of the shares will not have been affected by the process.

There is no share consolidation.

The company wishes to allocate shares to directors via a share incentive scheme and require the shareholders permission to do this. If permission is granted then the company needs to lower the nominal value of the existing shares to be able to legally allocate new shares to directors.

There is no need to raise funds as the company is generating cash and paying off the debt. Approx $12m of Senior debt left to pay from $68m 18 months ago.

CV7Blue - The Board have put this forward for exactly the reasons outlined in the RNS. I have 6m shares now and will still have 6m shares at the end of the process. How does anybody else gain from this when there is absolutely no change to anyone's holdings?

Mac19 - Lee is correct.

Some people are having difficulty understanding ACTUAL debt versus NET debt.

It's all in the RNS. To calculate ACTUAL debt just add two numbers together - NET debt + Cash in the bank.

If you have trouble adding two numbers together then maybe investing isn't for you.

More buying opportunities if that happens.

* exceeded by 33%

t2 - approx $23.5m outstanding on the senior debt facility. Two more payments of approx $12m should see the senior debt cleared.

Under the terms of the refinance agreement there are no fixed payment schedules. MTL were aiming to pay $30m during 2021 and exceeded this by 25%

The tax is an additional 10% on what MTL are currently paying when the FTAA kicks in.

Maintaining steady state production through another difficult year.

To quote DB during the recent Investor Presentation "We're laser focused on paying the debt" - IMO the senior debt facility should be paid off 2022H1. Interest on mezzanine debt facility then drops to 7%. Approx $84m to payback with $1.4m interest for 2022Q3 and reducing in each subsequent quarter. Two x $12m payments 2022H2 and $63m outstanding. Game on folks.

DB has previously stated that Stage 2 can be mined deeper if necessary.

Road access into stage 3 has been completed and infil resourse drilling can now take place followed by removal of the surface material above the ore body.

Production has been forecast for 2022. Previous forecast for 2021 was accurate so no reason to expect current forecast to be anything G other than accurate.

Talk about short termism lol. Sell up for 100% increase from current SP or collect upto 10p in dividends by 2027.

Anybody else see the irony in that?

Lee - It was only six months ago DB stated that 85% recovery is the target that he will be happy with and when asked about producing 100k oz gold per year for 2022 and 2023 he said, "to put it bluntly, no" and then explained why.

Why will he be happy with 85% recovery? It would not be cost effective to try and gain those extra percentages.

Why no more than 80k oz gold per annum? The higher grade ore is not in sufficient quantity to sustain 25k oz quarterly production for four successive quarters.

The mining dilution has already reduced the gold grade by 25% - 30% and the secondary losses have the reduced the recovery from a feasible 92% to 85%.

This is all of the current guidance from DB only six months ago which is as current as we can get.

Last years forecast looks like being around 5% on the conservative side.

80k oz of gold per annum is the upper target that the mine can produce because of the mining dilution that was not included in the feasibility study and the attainable recovery rate of 85% which includes a significant amount of secondary losses that were not accounted for in the feasibility study.

Darren Bowden explains this perfectly in his answer to Q17 during the Investor Presentation via Investor Meet Company.

The BOD are on target to clear the Senior Debt Facility next year.

Next stages of the mining plan will be opened up accessing the higher grade ore thus helping to drive down AISC.

Reduction in mining fleet trucks from 9 to 6 will drive down AISC even further.

2021Q4 update will hopefully include a forecast of around 80k oz of gold to be mined for 2022 with a lower AISC than 2021.

The current BOD have made excellent progress in the 3 years since Darren Bowden was appointed and, on a shoestring budget, they have turned around a company on the brink of going bankrupt into a steady state producing, cash generating company.

Wishing all holders a Happy, Healthy and Prosperous New Year.

Added another 1.3m today to take me over the 6m mark.

If people want to keep selling at these low levels it makes sense to keep accumulating.