Member Info for ElectricLion

*how long will it take*

Ace - simple question: based on your reading of the RNS, how will it take MTL to pay out the CVR to CNR shareholders? Perhaps the answer to that question will go some way towards explaining CNR shareholders feelings about them.

"We have cash and the opportunity to invest closer to home"

Genuine question, since you keep bringing this up - are there specific projects you have an eye on, or is this more of a hypothetical?

As I just covered on the CNR board, it's the CVRs that stick in one's throat. If the deal gets voted down (quite possible considering it needs 75% to pass), they'll be the reason why. Or at least, ditching them completely and replacing them with something of real value, would probably be enough for CNR shareholders to swallow their pride, hold their nose, and vote it through the 2nd time around. I'm still really assuming that the deal will go though, but there's a lot to be done before it's confirmed.

The CVRs are still an issue. Assuming best intentions (which I don't), then they can be seen as a long-term incentive, in the same way that employees of publicly-listed companies get shares, or options as part of their renumeration. But that's faint recognition of the length of time many CNR shareholders have already waited, not to mention their expectation that a sale would allow a clean exit, at the very least.

If we don't assume best intentions then it's very easy indeed to see them as a cynical ploy to attempt to convince CNR shareholders that the deal is worth more than it really is. We may not be billionaires, but we're not stupid! They've caused a lot of bad feeling just on their own.

That said, I don't see the deal changing at this point unfortunately. At least not unless the deal gets voted down, at which point all options, ranging from slightly better to considerably worse, get put back on the table.

*month sorry, I'm looking at the monthly chart

All fair comments. Perhaps over the weekend we can all sink a beer or two (or whatever tipple you fancy!), hopefully gain some perspective (it's not the price we were looking for, but at the same time, the SP is up 50% in a week) and next week start to look forwards rather than back.

I'm with Ace honestly. While most of us are frustrated, I don't think BMR's comments are helpful in any way.

Going by the RNS, MC is retiring, after possibly some handover period. I would hope/expect that JM would be content to revert to being a passive invester, rather than trying to steer things. Certainly hope so anyway.

Yeah, I'm coming around to that view myself. The CNR BoD have failed. At this point, I'd rather not be stuck with them for any longer than necessary. Voting in favour seems like the quickest way to get shot of them. And although MTL is not the destination any of us had in mind, they seem to be a decent outfit.

Despite the proximity, Calibre have shown us nothing but contempt the way I read it. Conceivably justifed in hindsight, but they clearly wanted more than their fair share from the toll-mining arrangement years ago, and I don't think it's really warmed up since then.

What I want to know is why don't the Chinese want it? It's a perfect fit for them surely. Maybe JM jerked them around one too many times as well. Prat.

Thing is Surrey, they haven't done better. Do you think they'll do better if we give them another 6 months? In many ways, I'd rather ditch the losers and go with someone who is capable of making some money.

Amen.

Sure, sure, take my head off, if it makes you feel better. I can take it. When you calm down, I hope that you'll be able to start the healing process. I mean that genuinely. We've been screwed and there's very little to be done about it. Certainly nothing done in anger and haste is going to make anything any better anyway. Best of luck.

Take your pills and try to relax BMR. Legal action is pointless and the violence you continuously imply is never going to be a good idea, for anybody. Take it on the chin and move on.

He's not bashing Kefi. He's bashing TW, and anything TW touches. He's obsessed.

Yes, we're all a bit miffed that there's been a placing (especially such a large one - I'm not sure I understand why it had to be quite so big), but now we don't have it hanging over us, and lots to look forward to. You have to slice a bit off the various price targets to account for the dilution of course, but then again you can buy today at just over 0.5p. DYOR, but it seems foolish to me to throw in the towel now.

I don't know whether I'd laugh or cry! Maybe both. Life gets crazy sometimes doesn't it!

I'm inclined to think the stampede has already begun. Many, maybe most, may be gone by the time the actual shares get converted.

True, true. I can't realistically see another outcome at present though. Whatever we little people think, the billionaires have made their choice.

Just as an aside, I do find it a bit funny that from being told, rather rudely, to do some research on MTL a day or two ago, that I (and the other CNR shareholders of course) now know more about MTL's biggest asset than MTL shareholders do! lol