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Olderandwiser - MTL are currently mining a low grade area in stage 2 which is anticipated to reduce gold production. Planning to mine higher grade material towards the end of the year and into next year.
Olderandwiser - Neither am I but I said I was so that I could access their site. Nobody checks, don't worry.
The 2022H2 should have been 2023H2 as correctly typed and stated in the second paragraph of my reply.
The current debt position of $114.2m, not $110m that you claim that I stated, can be worked out from the most recent results RNS that you can access freely from the MTL website and the London South East website.
As ever DYOR.
Olderandwiser - Current debt $114.2m, not $120m. Broker has calculated 2022H2 for debt free position based on figures posted earlier.
Some taxes have been paid during the tax holiday and FCF are currently trying to recover these taxes through the courts. The broker has calculated 2023H2 to be debt free under the terms of the FTAA using figures posted earlier.
The illegal miners is an ongoing situation that has been pressing slowly overall. The majority have now been removed.
The processing plant is designed to produce 100,000oz of gold annually. 80,000oz/pa is the estimated target.
As ever DYOR or even DSR.
Davethedumplin - From broker's note released yesterday :- "Valuation of GBp3.6per share, which we derive using a US$1,950 gold price, 12% discount rate and an NPV multiple for the Runruno project of 1.0x. With the Runruno operation at steady state, generating solid operating cash flows, in our view the shares are likely to rise further as the market becomes increasingly aware of the Company’s operational turnaround. We continue to believe that MTL shares offer investors exposure to a profitable, cash flow generating asset, with limited operational risk."
The brokers note can be downloaded via the MTL website.
Spaghettihoops - Wishbone are not a mining company. Neither are Greatland.
What happened to you disappearing for 20 months? Just full of rubbish as usual.
The 60000 shares that you bought for £300 are currently worth £1440 and you are moaning and whining. Get a grip of yourself and go and seek help.
Bye Spaghettihoops.
I doubt we'll have to wait 20 months to hear from you again.
Spaghettihoops - News flash . . . . . . . . . Greatland and Wishbone are not mining companies. . . . . . . . What? Really? Yes that's right, they do not mine anything!!!
You have bought shares in MTL . . . . . . . . a mining company. . . . . . I know, all this is making your head hurt right? Well, good news, if you still have your receipt you can take your shares back and say you've made a mistake. I'm 100% positive that you will get back your original investment money.
Anybody who bought many thousands, many, many, many thousands of shares, at the same time that you did, will be well over 100% in profit so they will not be hurting one little bit. They will be looking at their 150% profit over the last 17 months and congratulating themselves because they bought shares in a mining company and knew that they were buying shares in a mining company.
As for questioning the share progress compared to other miners, I have actually compared the share progress to other miners (you know, the type that actually do mine). Do you know what I found? Some miners went up, some miners went down and some, like MTL, just went sideways. Do you know what else I found? In all the miners that I looked at, MTL has a far greater near term potential than all of the other miners that I looked at.
Hey Spaghettihoops, listen, if they won't give you your original investment back, for whatever reason, then let me know and I'll refund you personally and take back the shares that you mistakenly bought. I promise that I'll give them back to Mr Bowden. I'll even throw in a good book on punctuation for you.
Spaghettihoops - Why don't you just sell all your MTL shares and bank your over 100% profit and then buy some shares in the other companies that you keep watching going up and up. Just think how much money you will make by doing that. You will be so much happier. There will be nothing for you to moan and whine about. Your life will be good. Your life will have been changed.
Oh, and don't worry about us that stay here. We will be okay without you. We'll pop by and say hello to you on the other boards, honestly we will. That will make you look really popular to your new friends. It just doesn't make any sense for you to remain invested (allegedly) in a company that isn't doing what you want it to. It can only cause you stress and anxiety and that isn't good for your health.
No Spaghettihoops, sell up and buy some shares in the companies that you want MTL to be like and then you can go and spam those board with your lack of research, comprehension, etc, etc and etc.
reapwhatusow - Congrats on starting a thread that isn't just titled Mtl.
$114.2m
Have some posts been deleted? I haven't seen any scary posts today. Spaghettihoops has further revealed his ineptitude with his rambling posts but not even Donald Trump and his whacko supporters take him seriously.
davidsmith49a - It was pointed this out on this board only last month but maybe it was too relevant to MTL to be significant. The tax holiday is a five year recovery period from the commencement of commercial production. Commercial production started July 2017 according to the MTL website. If MTL has recovered its pre-operating expenses and investment before the five years then the tax holiday finishes at that point. It was agreed in the FTAA that was entered into on 19th September 2009, just over 11 and a half years ago. Here's the link to the RNS - https://www.lse.co.uk/rns/MTL/ftaa-approval-e2ed14cldfwhmzd.html - The FTAA lasts for 25 years with the option to extend for a further 25 years. It is a contract between the Philippine Government and MTL.
As ever DYOR or even DSR ;-D
As always DYOR.
CV7Blue - The additional independent directors were first mentioned in the 8th September RNS. Why wait until now to complain about them?
CV7Blue - All spare cash is going to the two main shareholders in debt repayments. There is no extra cash.
The Candy's only own 65% of the company.
More good news from MTL. The company has improved it's corporate governance with these appointments and the execs will eventually be rewarded with some shares!!!
I do hope they don't then just sit around watching the SP all day like Spaghettihoops ;-D
Spaghettihoops - Anyone with eyes can see what the SP is doing. Nobody on this board is dumb enough need that, which can be clearly seen, pointing out to them.
reapwhatusow - The FTAA, signed in 2009, lasts for 25 years with the option to extend for a further 25 years. It is a contract between the Philippine Government and MTL. Very little risk of the license being revoked.
KingSuarez - Here's the link to the RNS.
https://www.lse.co.uk/rns/MTL/ftaa-approval-e2ed14cldfwhmzd.html
It was discussed on this board at the beginning of the month. Some kind soul also provided the link to the actual signed FTAA agreement.
As ever DYOR or even DSR ;-D
50% of net mining revenue will be paid in tax to Philippine Government when the recovery period ends.
maqsood7 - Yes, MTL are moving in the right direction. Recovery rates are still improving. The several weeks explosives ban , the COVID situation and the illegal miners are out of MTL's control but the team still managed to produce a high level of gold despite these hindrances. The forecast indicates that there will be less production per quarter for the remainder of the year but there is now money available to improve the plant and progress the mining plan and to continue to make debt repayments.