Member Info for ElectricLion

I would think most observers have chosen not to try and compete with the noise on here at the moment. Perhaps in the New Year, the "sound and fury, signifying nothing" will subside and rational voices may be heard again. Well, one can dream, anyway!

Wow. I wonder if you'd be so rude to my face? Do indeed filter me if I offend you so much. I assure you, I will do likewise.

I don't think that is the case Ace. He has been posting on the CNR board for some time and I have no reason to disbelieve his holding. However I think he has/is over-exposed in CNR and wanted/needed a quicker/higher exit, and so is currently feeling somewhat bitter and disappointed. I do feel for him, and any others in his situation. It is the Season of good will after all.

None-the-less, I agree his attitude is not currently helpful, to himself or to anyone else. Barring some kind of dramatic last-minute grab by Calibre, which I consider unlikley, then this is the deal we've all got. Many CNR shareholders emotions are already cooling, and by the time of the vote, I think there will be more than enough votes for it to pass quite easily.

Realistically, some ex-CNR holders may dump their MTL shares after the deal has gone through. You're not going to persuade everyone to stay. But the turbulance will be short-lived and may well be offset by newcomers, giving MTL another look. I imagine the majority of existing CNR and MTL shareholders will see it through to La India mine production - this is what most of us invested in CNR for in the first place after all.

Out of curiosity cf, was this in some public forum, or was it a private conversation? Seems you have contacts in high places! I hope you don't mind me asking, and you are of course not under any obligation to reply, but I wonder how you came by these contacts? Do you work in the industry?

Https://www.theflyingfrisby.com/p/the-condor-gold-deal-what-you-need

"Nevertheless Calibre could pay 75p for Condor and the accretive value would still dwarf the purchase price. But that would probably require Calibre’s management eating some humble pie which it is probably not prepared to eat."

Just goes to show that CNR shareholders are not the only ones who think MTL is getting a pretty good deal. I don't see Calibre riding to the rescue of CNR shareholders either - big egos on both sides I think - but MTL has got to be extremely good value at this price even if you only take account of the La India asset plus the cash to develop it. And that's before you even get to existing and any other future prospects.

I am also interested in discussing Kefi. However, I am mostly interested in the future, rather than the past...

Added another mil. Showing as a sell of course, but I assure you it is not. Not gonna lie, the raise was disappointing, but you have to roll with the punches in this game and seize the opportunity when it presents itself.

The production part of the CVR is all but guaranteed. MTL didn't buy La India just to sit on it so they wouldn't have to pay CVR holders a poxy few mil! They need the cashflow.

Less certain, but still fairly likely IMO is the resource CVRs. The logic being that finding all those extra ozs would do far more for the market value of MTL than it would cost in CVR payouts. There's also a commitment to do 40k of drilling IIRC. I don't really have much of a concept of how many proved-up ozs that ought to get you, but I think we can be fairly confident that the gold is down there, we (they) just have to find it.

Bonkers - pay attention. He said he'd binned both of you. Chopping out the extremes on both sides is not creating an echo chamber. It's just giving others a chance to be heard.

In any case, I don't believe you want debate. You've already made up your mind. The wise thing for to do under such circumstances is to find somewhere else to expend your time and energy.

Yes, that's how I interpret their message to me as well.

They could use a proof-reader before sending these messages out to customers TBH, but you get the gist. SIPPs and Junior ISAs are OK, but ISAs are not.

Me: "I am unfamiliar with CVRs and I would like to know more about how these are treated on the Interactive Investor platform. Specifically, can they be held within ISAs, SIPPs or Junior ISAs and if so, would the CVR benefits also be paid into the appropriate accounts, thus retaining the tax advantages of such wrappers, or do they fall outside of these established arrangements?"

III: "In the case of Condor these re non tradeable and therefore whilst they are held within an account any payments etc will be made to that account, if following a corporate action the shares are held within an ISA , as they are non tradeable Under HMRC rules these will need to be transferred to your/ a trading account after approx 30 days of issue. Any payments there after will go to the account in which the share are held.

As shares held within a SIPP are cannot be transfers the CVR will remain on the account and payments will be made to that account accordingly."

Me: "What about Junior ISAs? As I understand it, funds cannot normally be transferred out of a Junior ISA, so does mean they are treated in the same way as SIPPs in this regard?"

III: "Yes, they will also remain in the Junior ISA, as like the SIPP account transfers are not allowed where as ordinary stock a& share ISA or cash % stock ISAs can be closed at any time."

In time, perhaps, in time. But probably not by the end of Feb. No gold miner gets valued based on a high proportion of total resource value. The actual realised value from the sale of produced gold ozs is spread over the entire life of the mine, for starters. CNR just got sold for £67.5m and they've got 2.4m oz. The thing there is that they couldn't raise the funds to build the mine, whereas we can (I hope), and I expect that to make all the difference in terms of valuation. None-the-less, the market will be sceptical until it sees proof.

Just trying to keep people's feet on the ground somewhat, but as I also mentioned, an SP at 0.5p, with a raise just completed and lots to look forward to is a very nice entry or top-up point, and that's exactly what I'm doing. Double or treble by Feb is very feasible IMV, and that's pretty good for starters!

I think that the risk/reward ratio here is probably better than it has ever been, and I'm buying at these levels.

That said, I feel some are getting a bit carried away with SP projections. There will shortly be in the vicinity of 8bn shares in issues. 5p a share times 8bn shares is a £400m MCap! Which is... unlikely any time soon IMHO! Let's get the damn finance done and then see where we are. 1p+ I should hope, with more to come, but 5p may have to wait for a while. Would be delighted to be proved wrong of course!

Https://www.forbes.com/2009/02/23/contrarian-markets-boeing-personal-finance_investopedia.html

Appreciate the need to blow off steam Surrey, but what would you have us do? Phone calls and emails? Won't change anything I'm afraid, and I have other things to do with my time and energy. The only material thing we can do is to vote against the deal, but a.) JM has a hefty head-start and b.) we could well end up being turkeys voting for Christmas.

Besides, as I mentioned earlier, if after 2 years, this is the best JM can come up with, why would you think he'll do better if given another 6, 12, 18 months?

I don't massively disagree with your analysis, but it is what it is, and it's better than nothing. 2 years will fly past and then we can start getting the value from La India that JM and MC never could. Call that view anything you like, but I call it realistic.

I'm rotating a few into KEFI. Not too many, but CNR is up and KEFI is down, so just taking advantage of the differential.

Nothing else implied. DYOR.

I think the production CVR is pretty much nailed on. MTL needs the cashflow before the CVRs expire. They are also committed to do 40km of exploration drilling, so the resource CVRs may end up being substantially in the money as well. I have no particular concerns about the value of them, though the time they take to pay out is not great.

Unfortunately the admin and tax is going to be a bit of a nightmare. Here are some HMRC guidelines that I think may apply, though I am not an accountant: https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg14800

MC is bonkers. Willing to give you the benefit of the doubt WiseOwl, until proven otherwise, but I do also note that you have 334 messages posted on MATD in the last 30 days, which is not reassuring me that you have a balanced viewpoint yourself. DYOR.

50% of the mill was paid for in shares at 50p, so factor that into your calculations.