Member Info for freefaller

I would agree about your view of dividends. Also, if you have shares outside a tax advantaged account (ie SIPP, ISAs) then when the dividend is declared then that income is taxed. Using the money within the company or share buybacks increase the size of the pie and the share value without the tax event until you actually sell your share.

However, if you're paying some tax, you've at least made some money, so not the worst of all problems!!

Considering early May the share was hovering around 7.5p, then has near doubled in 2 months, I would be thinking this is traders top slicing/profit taking.

The fact that it's sustaining the 100% increase is at least creating a new floor of new holders at this level and not dropping.

Hi profit,

There have been a small amount of little buys occurring over the last few months. Quite consistent "nibbles" in value as you say, so it was bound to slightly tick up at some point.

A lot of news to come as and when.

- Armenia mine being able to start crushing ore again and selling into market what has already been stockpiled.

- Further Ireland drill hole results. Progress with surface tailings. Opening the old copper mine.

- General progress in multiple projects and avenues.

- Additional listing.

Etc.

A slow stock for sure.... But with a lot of upsides from here

Hi All, hope everyone is keeping well. If not, have a peak at your holding and that may help...

I think a lots of investors here have been waiting for this point. You can see from the trade lists, there is little float between the MMs.

The pure fundamentals of this company vs the Market Cap still shows a large gap, explaining the likely small float with holders now mainly LTHs.

Not feeling over exposed here with the risk/reward. I did derisk prior to the CNR acquisition, so now everything here is just waiting for the potential dividend events in the future.

Honestly the perfect share to put under the mattress!

@Surry ... Might be Deansgate at Xmas at this rate! 😅

Top slicing at 25p .... Getting ready to cover Deansgate? ... ;)

That sounds more realistic now.

Off the top of my head and that RNS... I'm sure we have over 2 billion shares in issue, so with 8 million, not sure whose calculator got it to around 1% of the company...

Unless I'm mixing up numbers from a different stock in my head...?

Pedro61, I agree. On the investor call at the start of the year I tried to submit a question around the currency hedge with a weakening dollar because we are a UK company ultimately distributing in GBP, but it was not answered, anyway wasn't a big one.

From where we are today valued as a company regardless of what the gold price does we are in a fantastic position, and when compared with the whole market an unbelievable one, with the potential returns through dividends in the future as mentioned by Darren.

Smoothbrain, I completely agree. My point is that the AISC in dollars would also rise as a number as the number of dollars required to cover the cost increase.

As long as the desire for gold rises (ie it rises for all currencies) then we are in a fantastic place as the profit margin is increasing. Which on the whole is what is happening right now.

Just wanted to highlight the other side for "if" the doller gold price rises dramatically without the other currencies and there the doller dramatically weakens.... Then yes, in this stock our profit should remain stable because the gold and usd are two sides of this balance beam

Indeed, a good milestone passed in Darren's plan he has laid out in previous investor calls.

Whilst we are discussing the gold price - personally I keep both the gold to USD and the gold to GBP visible as percentages. My reasoning is that if both change at the same percentage then compared to gold there hasn't been a chance in fiat currency strength vs the commodity.

However, if there is a difference, which there was yesterday with gold climbing a higher percentage in USD than GBP, then it is a likely drop in strength of the dollar.

The reason I look at this for MTLs is that yes, a rising gold price is good, however a rapidly weakened dollar may not be ideal .... Because unlike holding the commodity in your hand, MTL has to pay USD costs (salary, fuel, machinery etc) to extract it.

Ie, MTLs profit is in the gap of the gold price, vs strong dollar over local currency for costs, which right now is where we are.

Just a thought and wanted to give a different view around the rising strength of gold vs fiat currency and how I feel it relates to this company.

Hope everyone had a happy easter and a chilled one holding this stock!

Hi Burtomj, profitseeker,

Nice to see it came out. It looks like it was issued after market close on Friday, so we wouldn't have seen any market activity due to it yet. Overall is as expected and does tidy up the open question for processing the ore ahead of the Armenian plant being built with that other non-Russian refinery. I expect this year to be another where the company is building up it's foundations, hopefully the updated MRE in Ireland, dual listing and refinery contract to process more of the ore. All whilst the POG has increased by $300 since the last update.

All very positive

Thank you gold-miner (and apologies all for the tons of typos - used my phone and couldn't scroll back up to check it!).

Indeed, full year and AGM are shortly following, I only note down the next scheduled release each time, so thank you. June, might not work for me, but maybe next year... But truly think it would be a good time and laugh to meet up at one.

Yes, I have seen forecasting in the chat history and do keep an eye on the commodity prices, but I personally try to just wait and see what the company reports are and then make decisions. I'll usually research and forecast ahead expected entry/exit plans before news like I'm sure most do here but it's all just "getting a feel" and "predictions" until the report comes out with the facts.

IMO Darren has laid out some expectations and I am sure he is slowly getting round the market when not doing his first (imo more important) job, running and building the assets of the group to achieve his expectations.

Have a great day all!

*big company group

Hi all, quarterly next month but popped back as looking at another stock and thought I'd just here.

Just skimmed back through some if the chat history on here.... Can I just point out that we are bickering about an accounting definition but more importantly about a company that is actually generating revenue and not sending out profit warnings or lowering forecasts?? Just take a breath for one moment.

Yes, in the bug company group there is revenue being made that will be used to SELF fund in the group the development of another asset to group the group.

I really don't think there's any further statement needed than that reality. The ultimate cost to develop the next asset has been forecasted and we should have a few pounds left after finishing the development. Then that would just be retained profit and either distributed or used to grow the group further.

Happy to be told I am missing something here with the above, but I'm sure the quarterly report next month will give a good answer.

Hope everyone is well. Still think one day we should all meet up at the AGM in the future

Hopefully this week, but it could also be on Mon 31st March as they've usually issued it on the last working day of the month.

It will be interesting to see the recalculated asset values with updated commodity prices too

Indeed, a lot to announce as and when.

Possibly the half year report at the end of Feb or March, as well as a number of other ongoing activities.

It's generally a quiet news share, but I still believe that the fundamentals of the company from it's present value give a good potential upside.

Slim, I think this is the crux. There are 3 LTH timelines at play.

- MTL LTHs, a good few years on from now. (Ending hold in years)

- CNR LTHs, held for 10 years, exit planned with acquisition cash (ending hold now)

- CNR LTHs, held for 10 years, but want to see mined resource sold value (ending hold in years).

Condor LTHs, I fully appreciate that it's been a long hold where without trading it during those years you're into the red, waiting for the value of the resource to be paid. I've certainly been in other shares and done that.

If you've held wanting resource cash buyout, it's now rather than getting the full future cash value when being bought out, you've been given equity that may in the future represent the value of the resource, at a proportion that was a market cap amount of CNR.

I think LTHs in MTL all have a longer holding timespan using today as the comparison date point, I personally have, compared to the new LTHs from Condor brought in by replacement shares, because of the view (I am guessing pedaled by CNR management) that it'll be a buyout at resource price, so the holding timespan mentally has passed. I completely understand the animosity.... Hell, I've been involved where the BoD basically lied, crashed the stock, sold it into another company (which is doing great but I don't hold) wiped shareholders and I completely lost the investment and that was a functional mine!!!!! Would have loved an equity deal at least!!!!! As someone said from going to the CNR meeting and vote, the director said it was the only deal and the others were struggling to get commercial loans to finance it .... If there was no deal it would have, possibly, crashed, liquidated and been sold off to fund creditors (wasn't one of the directors giving a secured loan) and no return to shareholders.

I might guess that if a LTH in Condor wanted to hold until there is a producing mine, then I would have assumed that the holder was planning to hold for a few more years post any deal and just wait it out.

I'm going to disappear from this board for a while, the drama has been fun for a while but need a break. I'll just wait for the next quarterly.

Truly hope we can all get over this together. Ex-CNR holders, you guys know the resource that's been purchased better than anyone holding MTL, how about helping share what is known from that side?

Indeed @Burtomj I couldn't agree more! Hopefully some updates in the coming months. I'm very interested on the tailings update and plan after the visit to look at implementing some processing for it.

Not a fan of these kind of posts, where it's an action statement with no substance, however I can't disagree that at some point it will.

Besides the annual report being missed by the market, as well as the Irish licences having resource valued at 20x times the market cap... plus the mine in Armenia.... the half year report is due Feb/Mar. I'm hoping for there to be continued positive news as well as the anticipation of a dual listing in Armenia.

I feel it will take the latter for a breakout because a dual listing can still only access the same shares as here... And I don't think there are many shares outside LTH hands

There should be. I'll keep an eye on YouTube and post a link when it pops up