Member Info for DonJules

Thank you!

I have downloaded the TABYS app but you have to be a citizen of Kazakhstan to open the account!

Tried TABYS but, though you can download it, you must be a citizen of Kazakhstan to open an account!

I have emailed the administrators regarding any news for us poor UK shareholders.

I have just heard that the company has been sold.
Does any one know anything about this and whether our UK shares might have some value?

Thank you for the range of comments re my post re doubling down, all of them fair, interesting and civil. So far it has proved to be a rash move! I am not going to sell... having held this long I would rather go down with the ship... but hopefully not!

I have doubled down... possibly throwing good money after bad but these are my thoughts. What if it is all fixable and simply a delay to sales, the market for potash is strong and the resource is huge. I don't think it is realistic to think that the company won't be able to raise the capital needed... it is just at what price. The rns mentioned a rights issue, which would be a fair way to refinance as one can pay up to avoid dilution of ones overall stake in the project. My average price is now under 8p, the last raise was at 20p... so I am thinking there is a reasonable chance the rights issue price will be above 10p, that's a 50% discount to the last raise. Crispen Odey still has a 10% stake and with other institutional investors may take a long term view and back the company to turn things around.
I don't disagree with the doom and gloom on here or the mess that the company is in but, at 3.5p a share, it might well be cheap enough.

Summers... me too! It's a great way to be part of it even if one doesn't own BC directly. So far Argo is doing all the right things, expanding mining capacity, increasing ownership and control, using hydro power and this investment today very interesting and funded with coin at a massive profit.

LHC, my story very similar. An excruciating ride over several years of averaging down... at one point sitting on a massive loss and staring into the abyss. Now, all is good, after trading in the shares was reinstated, I sold down and made a fair profit. I have 1M left at 1.5p. My opinion re the SP jitters of late... it is all due to the lack of progress in the gold price and the fear that it might fall. MTL is massively geared to the gold price because of the high debt level.
So, IMHO, the investment case in MTL all comes down to one's outlook on the gold price. If you see it heading higher then MTL is a buy!

Wow... great news today... if it all goes through... we will be a solvent, going concern!
Having read the agreement, yes, it could be more generous, but, it works. In fact, it is a very cleverly crafted agreement. In fact, as they say, a good compromise leaves neither side completely happy. When we are restored to trading, I can see the share price back to 3p very rapidly... but it will then depend on operational performance, as of course it should.
Big thanks to Les for all his hard work.

Delist does not equal lose everything. Shares are still valid shares but can’t be traded on AIM. Company rules still apply so, my guess is that the vote for debt to equity swap would still require 75% support to pass but I am not sure. Very hard to value or sell though there is at least one other venue that auctions unlisted shares. Delisting is undesirable but not the end of the world... even though it certainly feels like it.

Cheer up, H50! The glass is half full.
Our shareholders group accounts for almost 25% of shares now according to Les!
The mine is still up and running as we speak... on much cheaper diesel, I expect.
Human beings do have a good in them, in my experience.
I say... we will get an outcome that is fair to all stakeholders!

Hi! I’m still here with 3million shares. The action group is a brilliant idea and I have signed up by email. I’ve also contacted my share account platform to see how I can mobilise my votes when necessary.

Thanks volmer, for trying to make some sense of it all. For my part, I was shocked at the news. I still have some hope that things will be worked out sensibly. As you allude to in your note, it seems both a difficult and risky path for the debt holders to force a bankruptcy. DB does have a fiduciary duty to act in the interest of all shareholders. Do they really want a legal battle over the PIs stake worth a couple of millions? Also, BSRT still have a stake. So... we are down, on the ropes... but not quite out, yet!

Well done Roy,
I've added a million... so now 3M
GLTA

Yep... true... a lot of interesting points... made by genuine people. It’s good to get other peoples perspective. I am feeling more sanguine now... after a bit of a down at first. SP has held up pretty well and lots of good news to come. I am still holding!

Totally agree Shinfalls, it’s CEO 101 to only announce the deal when it’s completely worked out. Dropping a one liner re dfe has trashed the share price unnecessarily. We did touch a MC of 40M and debt of 100M, GBP... a dfe swap for 40M at 2p and a 5 year repayment of the remaining 60M at 6 percent, ie 1M interest plus 3M of principal per Q, would have been eminently doable, imo. That would have left us with a MC of 80M at same 2p. In that scenario, I think the sp would have held firm! Oh DB, why have you not kept the lid on it until it was ready to put to shareholders!

Anyone any thoughts on the situation in East Africa regarding the locust swarms?

You can add me... 2 million @ 1.75p average. First purchase was @7p ouch! Was down megabucks but held on. Very confidant now. To me the biggest risk is, can the mine produce gold profitably? Hoping to hear good news on this in the 4Q report. Assuming the debt deal goes through, I just don’t get the logic in some of the posters here worried about the main shareholders. IMO just wouldn’t make any sense for them to do any thing bad. It will be entirely in their own interest and ours to restructure the debt so it can be feasibly paid back at par value. As I said before, they would make money on the debt, the interest AND a massive rise in the value of their shares of which I have 2million... win,win,win,win!

That’s not like your usual positive view! This RNS left me with a very warm glow. This is a great outcome... the main shareholders will hold all the debt, not the banks. They will make money if they’ve bought it below par value. They don’t need to resort to nefariousness, why would the left hand steal from the right? Best course is to agree a fair debt restructuring as outlined in the RNS and let their shares appreciate in value, why dilute themselves? They gain threefold... interest payments, eventual redemption of debt at par value and rerating of the shares to reflect the stable position and positive outlook. We are all winners!