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Yes JB. My take is that MTR enters about early Feb. They've lodged the Information Memorandum instead of a full Prospectus which is the accepted route where no raise is connected to the listing. So MTR won't be able to raise for 3 months. After then I'm sure they'll want to give some enticement to institutional investors interested in ASX. My take on the process.
It's a great shame that it's impossible to post photos here.Just comparing the #MTR graph to both that of $SFR and $CBE we see a marked drop off in convergence immediately on release of the MRE RNS. Up till that point, as expected there is reasonable close convergence mainly between $SFR and #MTR for several months. In fact looking at the #MTR graph there is clear selling off on every reasonably positive RNS for many months now. That could ofc be normal trading ,buy the rumour sell the fact. This time though it seems that a fair few LTH may be weary, as they see their 4/5/6 year investment underperforming. My sense is that the investor base may be thinning. The selling of the MRE at around 27p seemed very determined on a larger scale. With a '2p' warrant wall hanging over #MTR there doesn't seem much that can be done in left of what's 2020. #MTR entered 2020 at about a 14p equivalent so in many respects it's been a positive year for LTH, though traders will have enjoyed it more is my guess. I've been following sat images (frustrating not to be able to share here LSE !) closely, and like Doc M I see great potential in and around A4 for a significant uplift in the A4 Resource. Some of the intercepts, however random at present, were extraordinary-like Lower Zone 7.15m@16.0% Cu, 222.0g/t Ag. ! As TG said, the stuff is everywhere. It's more an engineering/feasibility matter of how best to mine it. MMc is doing very well with Oz connections and with our increasing investments there it makes excellent sense to me with the upcoming listing on the ASX. I believe we will be welcomed to an exchange which is just beginning to realise the value of royalty companies (sit back, no need to fund and watch the NSR come in) and which has a great history of loving mining projects and the characters involved in them. MMc and the board have never enjoyed the dirty gamesmanship that goes on with AIM. Refusing to lower themselves to take part hasn't helped the share price either. Nor does the wider UK market seem to 'get' what #MTR is all about as a complex part royalty, part investment, part facilitator company for mining projects. As a trader why not let #MTR do the due diligence then take punts in the companies #MTR champions? Many do ofc. As a more patient investor I can look and appreciate the growing NAV and limited downside of #MTR together with an excellent speculative value on the royalties from the Kalahari Copperbelt. Traders are useful when they provide liquidity ofc but at present #MTR must add to its investor base, as traders are too dominant. So in conclusion, I see the value from the investments and royalties in just the Kalahari as the company maker for #MTR and listing on the ASX as the next positive step in strategy to amassing a new investor base, both institutional and retail. In time I wouldn't be surprised to see $SFR taken out and even #MTR involved as a target in M&A. Patience is key for me.
"Yes indeed the CBE acquisition halt is intriguing. Like others at first I was thinking they are just obtaining additional regional tenements. Then I was pondering KML. CBE becomes a Mini me SFR: a potential VMS in WA and a large landholding In KCB. Ripe for M&A if successful exploration. Probably both wrong but we will soon find out." Good thinking Doc. I also first thought new tenements probably around Schwabe , which is the jewel in the Perrinvale crown. However, I've since heard that it appears that none of the tenement companies around Schwabe are in TH. Also the fact that it's a binding HOA suggests a deal more complex than simple licence acquisition. MH and wife have recently post bullish Copper tweets on Linkedin so just maybe it's a new copper acquisition. In that case your lateral thinking is very interesting indeed.
Sprott are certainly in the money with their 68,581,276 2p warrants DM. But then we should hear officially quite soon if they're exercising. I guess we could have a fund selling to another fund as well. No one really knows for sure but good to see the interest in MTR once again.
Saw this tweeted just now. MTR in top spot. https://twitter.com/chrisjparrish/status/1268183656822161410
My thoughts are that there could well be more of the new strategy to be revealed soon and that any free cash has meanwhile been allocated for funding elsewhere. I don't see any buyback as a priority just now as the share price is gently rising on a more positive market sentiment towards MTR plus we will no doubt have Cobre assay results soon, SFR A4 updates, KML-E drilling starting at prime targets...etc. Plenty with potential to excite the market and get investors' wallets open . Unwise to borrow more money against a low SFR price. Hope to see that price up very soon too.
Man up Dextus :)
No evidence that they won't continue the buyback at some time in the future Kb1. Funding the 'prospect generators' has obviously needed deep pockets of late. I'm happy to wait until later in the year when the projects have more flesh on the bones and hopefully the market will by then be appreciating the bigger picture that MTR has gradually been revealing.
Looks very promising as they all know the assays will come back top drawer. Flipper and traders will play cat and mouse with it while we wait for assays ofc.
This from an Oz commentator:
"Cobre confirms VMS
COBRE shares surged this morning after a diamond hole drilled just 5m from a previous high-grade hit at the Schwabe prospect returned confirmation of volcanogenic massive sulphides west of Leonora in Western Australia.
Work with a portable XRF unit and visual assessment suggests the mineralisation extends from about 49m to 55m
The hole was drilled adjacent to a 2019 RC hole that assayed 5m at 9.75% copper, 3.2 grams per tonne gold, 34gpt silver and 3.1% zinc from 50m depth.
At least three more diamond holes are planned in the immediate area before assay results are received based purely on the visual estimates.
Holland told MNN the assay results should be available "in a couple of weeks".
The next hole will test the centre of the prospect, with two holes planned on the margins to confirm the extent of mineralisation.
The holes will step out between 25-75m.
The company will run downhole electromagnetic surveys to identify further drill targets at Schwabe.
Cobre's first two diamond holes into the Zinco Lago prospect were also competed in recent days and show disseminated and stockwork base metal mineralisation in both core samples.
The results at Zinco Lago confirm the 1970s discovery and support Cobre's own recent surface sampling.
The company is planning additional drilling and DHEM pending assay results.
Holland said the results appeared to confirm the prospectivity of both targets, and the wider potential of the Perrinvale project.
With the completion of the initial Schwabe and Zinco Lago drilling, the diamond rig will move to drill the first hole into the Monti prospect, which is interpreted to sit in the same geology as Schwabe.
Work by Cobre prior to its IPO and historical costeans in this area suggest the known gossans extend for 700m of strike.
The company, which has 25 holes approved, will use the rig's move to Monti, to start the DHEM.
"The rig will be far enough away at Monti that the pulses won't have any interference. We'll then give the data to our geophysicist, and the modelling will only take a couple of days," Holland said.
"The plan is to bring the rig back from Monti to start drilling any targets we model."
The company raised A$10 million in a heavily oversubscribed initial public offer that was backed by UK-based Metal Tiger to the tune of $2.4 million.
The junior is planning to spend $7.4 million on exploration over two years, primarily at Perrinvale.
Shares in Cobre were up 4% at midday at 24c, having peaked at 30c soon after listing. The company was valued at $23.4 million. "
I wouldn't mind so much if he played by the rules as the rest of us do. Even free speech has its limits sometimes. Try telling a customs officer you have a bomb in your luggage next time you fly. Far more interesting to constructively discuss all aspects of Metal Tiger in my opinion. For hilarity there are plenty other alternative platforms.
Just a thought, but as Cashking agrees his sole purpose is disruptive rather than constructive, all that is left then as a last resort is to en masse report him to the Moderator and trust that the system works to eject and bar him from this forum. (rules of posting h.post non-constructive, meaningless, one word (or short) non-sense posts. c.post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities. k.post or otherwise publish any content unrelated to the board or the board's topic.). Hopefully then the Moderators can aslo check Cashking's IP address in case he is a multiple identity poster. Last resort Cashking but you're now hijacking this board to satisfy your own perverse reasons.
You can't even spell my lad. Tut tut.
Lol. Our resident stockbasher feebly trawling the barrel for any dregs left to throw at Metal Tiger. Any genuine investor would welcome the recent rise in market sentiment to bring the share price to its highest of the year so far. So what would you like to bet that the various Thailand interests won't be written off? With major projects like Cobre, Southern Gold, KML and SFR to focus on for the near term ahead, why be so concerned about progress in Thailand now? It could be possible, though a nightmare to you Cashking, that progress is actually being made in Thailand now, especially as its manufacturing base is setting up for #EV and battery production. Logically you might consider that silver, zinc, lead, lithium and eventually gold might be in domestic demand for such manufacturing processes? Cheer up Cashking. Go long and earn yourself a bob or two lad!
Fair enough KeithB1. Just for the sake of clarity!
"The minimum price that could be paid for an Ordinary Share would be 0.01p and the maximum price would be equal to 105 per cent of the average of the middle market quotations for an Ordinary Share, as derived from the AIM Appendix to the London Stock Exchange Daily Official List (as applicable at the time the proposed purchase is to be contracted) for the five business days immediately preceding the day on which the share is contracted to be purchased, in each case excluding expenses."
KeithB1 it's actually 105% rather than 5% !
Fully agree CJ. I believe the new Bots Govt has held up the Kit-E paperwork and licence transfer due to the political changeover, so that might delay Kit-E drilling for a bit, but I'm keen to hear Okavango drilling results when MTR + KML feel it's right to release updates (nudge, nudge:)
Judging by the job ads from Tshukudu Metals, SFR are in full flow in Botswana. A4 would be my bet for a starter point for drilling due to its prior results and proximity to T3. Get that copper/silver throughput for the mine up!
Bless CK. We're doomed, we're all doomed :) I'm actually pleased to see to the see the new life that's being breathed into MTR. MOD disappointed me by their errors, lack of foresight and vanity, but since the vital SFR deal, MTR has been given a new lease of life unbeholden to JH's dictates. TG seems reinvigorated and on the ball judging by the Cobre acquisition to the portfolio. Mark Potter was very enthusiastic and knowledgeable at the EGM (check out the iMetals investment which could possibly give quick returns if the assays are good), Charles Hall working very hard at trimming costs and implementing smart financial initiatives and MMc fired up to get MTR to a £100m MC plus get the shareprice up to benefit holders. I'm patient!
Early March 2016 was a good time to buy at 1.45 but only if you sold up to the spike of course. Plenty of 'research', noise + P&D merchants at that time suggesting 6p was only the start so many investors didn't sell at that peak, including me.
JB when did you buy into MTR exactly?