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Bit of an over-reaction today IMHO, both by the market and by many posters here. It's been clear that the Philippines operation has been challenging for some time. One of the videos I saw in the relatively early days of my time here was DB giving a presentation about the problem with permitting, as he saw it, and moreover what could be done about it. These things change slowly, if it all. We've known that Runruno is winding down, having done it's job funding La India development - anything further is a bonus in my eyes. Everything else in the Philippines has been speculative at best, no matter how much DB, or posters here, have wanted to make out like it was a sure thing. As for the management themselves, it just goes to show that there are things which are simply not in their power to control. That's not now, nor ever was, a criticism, just a recognition of the reality that a few would prefer to ignore.

Ironically, having taken a more cautious and sceptical view in the past, leads me now to view the latest news as nothing particularly unexpected, or concerning. We know that Runruno is on it's last legs, and that La India is the future, with all other possibilities speculative, until concrete news. So nothing has changed in that regard. Keep calm and carry on.

For one thing LMA - we're legally obliged to, under the terms of the CNR deal...

A cash-flow consideration for MTL management I meant Surrey, as per AuInspired's post.

I forget the details, but the bar for paying out the exploration CVRs is pretty high - it'll take a while to get there even if we go all out, so don't think that's a relevant cash-flow consideration at this point.

Given that your short did not play out as expected, perhaps it is your own confidence that is resiliant, and your own ignorance that provides liquidity to those who understand what is actually happening.

I really get turned off by these click-baity titles and thumbnails. Yes, I know, it's what the algorithm wants, and yes I know, I'm probably judging a book by it's cover, but I much prefer boring, sober analysis than this attention-seeking stuff. Right or wrong, I can't take it seriously, frankly.

The idea that TK has only 1.05m oz is rather disengenous. Sure, that's all that's proved - because you don't spend millions to prove up a huge mine, which you haven't financed and constructed yet! You just need an economic deposit, and then you can go looking for more later, when you need to, and when you have cashflow. The biggest mines in the world don't typically start with an enormous proved deposit - they just start digging, and then they find more and more. And where do you tend to find gold? Where you've already found some gold, that's where!

As long-term CNR holders will tell you, just because it doesn't mention MTL, doesn't mean there will be zero effects. Also, even if the company does issue a statement saying there will be zero effects, doesn't mean there will be zero effects. We've been here before, unfortunately. Obviously BB88 has an agenda, but that doesn't necessarily mean his information is useless. On the bright side, we are in a much stronger position than CNR was at the time the last lot of sanctions kicked off, so I see no disruption to MTL's operations, even if the SP does come under a little bit of pressure as a result.

15p is a £2bn MCap, based on the current 13.7bn share currently in issue, to say nothing of options, further dilution, etc. It's a lot. It's just about possible eventually, but it's certainly the bull case if *everything* goes well - gold price, further discoveries and mines, debt paid off, etc. Every penny on the SP is now 137m quid in MCap - it adds up quickly!

IMO, it's rarely helpful to talk of targets so much greater than what we can actually see on the horizon - it raises hopes among the naive and the undisciplined, encourages excessive risk-taking and gambling behaviour, and pretty often leads to disappointment when those targets are not hit, even if the SP does actually do very well, by most realistic metrics. If we're sitting at 5-10p, that's the time to start talking about what it could take to get from there to 15p, but from the current 1.4p, it's sufficiently far in the future of infinite possibilities than it's not really helpful IMHO.

It also ignores the fact that a more realistic target, say 4-6p (£550m-£820m MCap) is still a heck of a good result from here! This is the real world, and while 10-baggers exist, they are rare, and most folks don't have the combination of qualities (foresight, patience, etc, etc, etc) needed to capitalise on them. You should really be delighted if you can double your money on an investment, rather than disappointed it wasn't more.

I am currently considering my own targets and timeline for my KEFI investment. It has already made me quite a lot of money. The question is, what now? I do my best, in my own small way, to emulate the acknowledged greats of the investing world - find a good oppotunity, and then sit on your hands. Invest in the business, not the share price, etc. As such, while I may trade/de-risk small portions of my holding over time, I'm inclined to keep the majority until full TK production at least, and then see what the situation is with regard to the gold price, further discoveries, global conflicts, etc, before deciding on whether to dispose of my holding entirely, or stick with it. I don't really have a concrete SP target that far out, never mind any further, but if the business does well, the SP should follow suit.

The first number is certainly right. It was 6%, but only over a certain ozs theshold. Now it's 4.8% of everything. They explained it in a recent video - it works out to exactly the same amount, but it's a simpler arrangement.

You said "...Electric Lion tell us all that we're not getting an acquisition..." That is simply not true, as I have pointed out to you. You appear to care little for what is or isn't true. You are not debating in good faith, and I will not waste my time and energy further with you. In fact, I think you will be only the seond poster on this board that I will filter.

ConMan94 - you are now simply lying. Stop it.

You know that everyone's posting history is easily accessible right? I would suggest you read my 14 Apr 2026 18:56 post.

You gotta run an adblocker on the internet these days, or as you say, this site, and many others are virtually unusable. Firefox + uBlock Origin works for me.

Not a lot has been discussed, beyond what 1871PLUMS has said. And no, there's no 'tim000' here. FWIW, to me, Chancery seem like a go-getting outfit and so may consider investing in them once they IPO. But I don't post on ADVFN, so it's not me you're looking for!

Doesn't seem like we will even have to fight for them. Sounds like the authorities will end up cancelling Askari's licenses and re-issuing them. Presumably KEFI will then be a prime candidate for picking up some juicy ones. Wouldn't want to be an Askari shareholder about now...

Less of the aggression please ConMan. Like I said "I don't think that will happen".

ConMan - of course if all else fails, another option is to simply sell the plant. I don't think that will happen, but again, like Surrey, you're also guilty of making unwarranted assumptions. Let's not write any possibility off entirely until we know, for a fact, differently.

Not sure I follow Surrey. Why wouldn't there be? Because we can't afford it maybe?

While all such talk is of course complete speculation, it is also true that:

- We have a plant in the Phillipines that will shortly be idle.

- The Phillipines is not looking like the best jurisdiction in which to operate a mining company.

- The company would benefit from jurisdiction and mine diversification. Otherwise all our eggs will be one basket in Nic. It's a fine basket, I grant you, but another one to go with it would be better!

What we could get for an affordable price is the 64-million dollar question, but to dismiss the entire topic seems both complacent (in terms of diversification and risk management) and premature (as none of us can say what will actually transpire). Let's see what the plans are for the Runruno plant in due course.

It already has! If you look at the recent SP chart, it started dropping from the high 1s, along with most of the rest of the market, due to the Iran war. Then there was a big hit down to under 1.2p when the placing was announced. It has since recovered to the current 1.5p. That rise does strongly suggest that most or all of the placing participants have held onto their shares, rather than selling them immedietely, or we'd still be down at 1.2p. So going forward, I don't see a further significant impact due to the placing. The additional dilution is baked in now of course, but the effects of the placing itself are already done and dusted IMHO.

Agreed LMA. I'm aware that MTL, DB and LTHs have a lot of emotional investment in the Philippines, which I understand, but you're right - it doesn't seem to be a good place for mining firms to do business at the moment. It's a shame, and gives DB a lot to think about. As tempting as it is to go all-in on Nic/La India, I'd really like a second jurisdiction/mine if possible, to reduce risk, and the perception of it. Interesting times.