Member Info for Cnutgoestheeasal

I asked Gemini as question

Have any gold miners in mali commented on fuel shortages caused by the gathering insurgency?

The government of Mali will fall in the next few weeks. They have lost control of the country and I was shocked to see how much of the country is now in the sway of the Islamists.

Nobody is going to ride to the rescue either. Russia has shown total incompetence and is getting out and France is coming back in having been chucked out. Not even Macron is that deluded.

The reason for RNS is not anything to do with mining licenses rather they would have to admit the utter hopelessness of the situation. The only good thing is that they haven't sunk $100m+ into a mining operation that the jihadists will take over and use for their own purposes.

But it was the right thing to do. The Malian government is finished. It's been a shambles from the start and just led Cora and all of us down the garden path. Not sure how Bert is going to get on negotiating a new license with the Islamists?

Maybe grow a beard?

Given El P is in the middle of nowhere how long to you reckon it will take for drill cores to be sent to the nearest lab and results to be declared? Perhaps the larges goldfields nearby might help in some way?

Actually gold within the earth is incredibly common. Theoretically it should be a cheap a chips. The problem is that 99% of it is within the Earth's core and only a bit escapes into the mantel and only a bit of that into the crust. Just as well we can't drill down that far!

I wonder if they got a discount on the second rig? It's a bit perplexing. Does this mean they are going to drill twice a much or the same in half the time. Do they have the crew to operate two rigs? Or did they want to give the 2nd one an outing because it would have felt lonely by itself back in Mendoza.

Answers on a postcard please Brad?

I've been waiting for the inevitable comment but non there came!

So here goes....

Drill baby drill!

I asked this question yesterday and predictably got no answer

Maybe I'm being thick here but I can find the RNS announcing publication of the scheme document but not the actual document itself. The RNS gives a link to the general offer page in which it is the last offer click on that and round and round we go.

What am I missing please?

Lots of other gubbins about irrevocable undertakings but not the document itself.

Anyone got a link?

Thanks for that freefaller. Which provider has given that response and I don't suppose they confirmed SIPPs are OK to?

fyi I've asked the same of ii and am still awaiting a response...

Having listened to the presentation this morning and to a previous one earlier in the year I'm pretty sure Darren won't want a toll deal with Calibre even if they offered it. Why? Because the key point about MTLs turnaround from near disaster 5 years ago is getting a grip on the gold extraction process. Time and time again he mentions production IP as perhaps the key to the company's success in the past and how it will differentiate itself in the future (alongside ESG).

Disappointingly he didn't take questions so I can't be certain but I'm betting he thinks he can now apply a turnkey solution to La India et al and churn out 100+k pa at $1200/oz. Why would he want to share that uplift with Calibre and anyway he probably thinks he can do it better than them.

Whether his confidence is misplaced who knows?

So how does a paper certificate work within a SIPP wrapper.

I've asked my SIPP provider ii and still waiting for an answer...

Exactly it bluffed!

It's any new resources discovered anywhere in the license area. Logically you start by trying to expand the existing sites La India etc and I believe proving up new resources within these counts just as much as virgin area discoveries!

Forgive me if I'm wrong up when the 2 parts of the CVR pay up they appear to be in the form of loan notes (paying Barclays rate plus 2%) for the gold pour part and either loan notes again or MTL shares at the discretion of the MTL management.

If correct how we cash these in because at some point everybody will want to.

Btw I didn't see a redemption date for the loan notes - maybe I missed that!

I get an error when load this. Anybody else have problems?

Well at the very least there will be news flow rather than just tumbleweed....

A couple of big questions came out of this which I wonder if anyone else could divine more than me.

First they are targeting 120k gold pa and I can't remember how many tonnes a day. Is this compatible with the mill already bought by CNR or are we talking a brand new mill with all the requisite expenditure of using the existing mill and adding new bits on to it.

The bit about getting half the contingency in terms of production was better than I thought but I'm still mired in confusion about gold to be discovered. Maybe I missed it in the offer document but at what state does the gold have to be determined. Resources or resources? Indicated or proven? Does it have to be JORC compliant or can CNR management agree with MTL management as to what has actually be discovered and then pay out accordingly?

Answers on a postcard please!

In theory yes but I suspect trying to short an AIM tiddler wouldn't be worth the effort in terms of reward. Nevertheless the arbitrage opportunity is out there for anybody willing to take advantage of...

The absence of any hedge funds playing M&A arbitrage tells me that this deal is sealed and there will be no further surprises. Why?

Because they have their ears carefully attuned to market murmurings and they can't detect any behind the scenes manoeuvring.

Maybe Calibre were interested by the Nic Govt were wary of handing over the country's entire gold exploration prospects to them?

Maybe we'll never no.

Anyway I'm predicting that this deal is sealed and no further moves from 3rd parties will be seen.

Peeps might need to get their minds around that...

Great company - ridiculous valuation!

Well done GDP!