Member Info for gold-miner

Broomtree you accuse Lee of not being able to read charts. Isn't it you who cant read charts?

Lee said "Look at the MTL 5 year chart if you want to see how much we have grown, and Condors recent rise is because of this deal, there 5 year chart showed no growth until the deal was mentioned".

5 years ago MTL P was 1.2p before the offer it was 6p Up 400%

5 years ago Condors price was 20p before the offer Condors price was 20p Up 0%

Fulmar and Simms.

I cannot se any more news being released before the vote.

The proposed deal is sweet enough, and there was more than enough information in the two videos.

The next update will be the Q4 (and hence full 2024) production figures, or the information after the takeover is complete.

It was said that one of the reasons that MTL's share price was so low, was that they are making annually nearly as much profit as the capital value was that the Company will have to fold when Runruno runs out of gold.

There were even soothsayers deciding how the capital value will be split amongst shareholders.

That was certainly contradicted by yesterdays fantastic presentation by Darren.

I never dreamt there was so much going on. Hope fully the SP will soon reflect this.

The newly appointed PR agents have plenty of good news to spread to the financial press. I haven't seen much so far

CuckOldking

Where did you interpret this "Potentially increasing the mine life by 3/5 years".

Nim

Yes the terms are agreed, but the relative value to CNR shareholder depends on the SP of MTL and CNR

The more MTL edges up and CNR edges down the more likely the deal will be sealed

A positive video from Darren would add a few pence to the SP and clinch the deal

I can understand now why Nick Candy sold some shares well over the market price. Like all of us he wanted the SP much higher to help this deal go through. There has been much criticism of Nick Candy, but he did set up the present MTL, buying the shares and bring Darren Bowden in. I think Nick Candy and Darren Bowden have been working in tandem to set up this deal. It will be fantastic if it all goes through. The trouble is, I am 84 so I doubt if I see it through.

I was really pleased to see that we have a mid quarter update. I was also pleased with the AISC guidance of only $1,125, its a confirmation of how well the mine is being run and how hard the Filipino's are working.

However am I a little churlish in saying I am disappointed in the projected output figures??, in the first 3 quarters MTL have achieved 23,006,19,529 and 22,553 ozs ~ a total of 65,088 ozs, so to say our full year guidance is only 82,500 means the last quarters output is expected to be 16,512 ozs. Lets hope its north of 20,000 ozs

With regard to

Abra lawmaker Menchie Bernos is initiating a congressional investigation how come a permit was issued to a London-based mining company’s subsidiary to explore minerals in Sallapadan town in Abra without first consulting affected indigenous communities.

There are always Nimby's surfacing at any new development. But I am sure Darren with have fallen over backwards consult the indigenous community.

The Filipino's are very much in favour of gold mining, there are estimated 500,000 Filipino's engaged in various forms of gold mining. I am sure as soon as they start to receive their pay cheques any opposition will melt away

The little snippet I welcomed.

Finally, the Company is pleased to confirm BlytheRay as its public relations advisor to support its

communications strategy and stakeholder engagement.

I thought the previous PR outfit, Tavistock, were particularly useless, the never did anything as I could see

Further the endorsement of Xiaofeng Zheng. I googled Max Tuesley and there a very good interview with Max about copper in Chile he obviously knows his subject.

Going slightly off topic with budget tomorrow, I accidently came across the figures of Gordon Brown in one of his budgets. In 1999 he announced that because the price of gold was so stable the Labour government were selling of our reserves of gold. Between 1999 and 2002 he sold of 401 tonnes (13 million ounces) of gold at $275 per ounce raising $3.5 billion

According to Google there are 35 commercial-scale goldmines mines in the Philippines, and hundreds of small scale goldmines. There are thousands of Philipinoe’s panning for gold.

They often refine the gold with mercury which is both illegal and dangerous. The Philippines is unusual in have gold spread all over the country. Also it has a population which is eager to work in gold mining.

In his video Darren says he is interested in “brownfield sites” and “greenfield sites”.

It is great to see development is progressing the Abra greenfield tenement, but this is going to take several years to actually produce gold. Also it may prove to be more suited as a copper mine. (which hasn’t had the price rise of gold)

I would like to see in parallel to Abra, some investment in brownfield sites. This means using all of the war chest and possibly borrowing capital to buy one of the quoted gold producers or one or more of the small scale gold mines. (I am not interested in dividends, and we need to be using our cash.)

Ideally, we should buy a gold mine which has large reserves of gold and is poorly run. This would have the advantage of some immediate gold production, but enable Darren to use his expertise to improve the efficiency of the mine. Like he has with the Runruno Mine.

Lee asked for thoughts on the future of MTL

I think Darren Bowden and Nick Candy’s are planning something beyond our imagination. I did not know how much gold mining there is in the Philippines.

I have listened to Darren’s video several times ~ its full of information.

He says he lives in the Philippines and is very ambitious also he says he is going to work with ASGM’s.

If you Google “Gold Mining in the Philippines it says

Artisanal and small-scale gold mining (ASGM’s) is a thriving industry in the Philippines, with an estimated 500,000 miners operating in more than 40 provinces out of 81 provinces in the country. The Philippines is among the top 20 producers of gold worldwide, with 70 percent of its gold is attributed to ASGM.

Also if you Google “Inside illicit gold mining in the Philippines” you will see some Philippinioa’s panning for gold under terrible conditions.

There are many small gold mines in the Philippines

Also there are several big mines.

Apex Mining have three gold mines Sansilo, Suyoc and Maro quoted on the Philippine Stock Exchange (TSXV:APX)

TenSixtyFour X64 previously Medusa Mining has I mine Co-O is quoted on the Australian Stock Exchange (ASX:MML)

OceanaGold has the Didipio mine in the Philippines and other mines in the USA and NZ is quoted on the Tonronto Stock Exchange (TSX;OGC)

Philex Mining has the Padcal Mine in the Philippines.

It will not cost a large amount to develop Abro now that the tenement has been bought.

Remember Nick Candy is a property developer who bought Runruno out of the blue so together with Darren I think they will use the war chest to do something spectacular and buy or takeover another gold mine or company

Lee

I cannot see Nick Candy wanting to take over MTL. He has not shown the appetite for a public company in his property dealings or the day to day running anything. I cannot see any advantage to him buying out MTL.

His style is more of waiting for an offer to buy MTL for cash.

I cannot offer any reasoning for his recent developments unless it is to do with the budget.

Only my opinion

In Darren's video last February he mentioned three future sources of income. The Runruno Mine, the Abra tenement and to work with other Small Scale Miners in the Philippines. He said he had worked in Columbia with the small scale miners, and that this was a source of extra income.

I couldn't quite understand what he was meaning. Whether it was process ore for them or to help them recover a higher percentage of gold or to help with marketing.

But I did think it was a good wheeze to get to know the other small miners in the Philippines.

He also mentioned building up a war chest.

There was a lot in that video that needs to be updated

I have sent this to Business Editor of 10 newspapers

I have posted them as EMails tend to get lostif you don't have an EMail address

I would like to draw your attention to a share I hold, and which must be the most undervalued share on the London Stock Market.

The share is Metal Exploration PLC. It is a gold mining company in the Philippines.

The recent half years interim accounts and the latest Q3 update RNS show

1) They have mined 22,553 oz of gold in the last quarter equivalent to 90k oz per annum.

2) They have an all-in sustained cost (AISC) of $1,088 per ounce.

3) The current Gold price is $2,736 per ounce.

4) Therefore, the current profit is $1,648 per ounce

5) Or the current profit is 148M$ or 114M£ per annum

Metal Exploration is capitalized at 92M which is 10months profit. Please tell me another company who is making profit equal to its capital value in 10 months.

I am sure your financial journalists can make an interesting article about the most undervalued company on the London Stock Exchange.

Lee

As always your summary was excellent.

Have you thought about putting together, and sending it to city editors of all the newspapers for a ready made article. Hopefully a couple will use it.

I have only been a shareholder for twelve months and haven't your expertise

Tygra

You wrote a sentence this morning.

"The fact you have to resort to insults to show your stupidity is telling."

A week ago I posted a message about you wanting "Special Dividends"

You called me "a moron"

Despite this I got 5 "recommends" to my message and yours was taken off.

The fact you resorted to insulting me says something about the messages you post

Daniscp1906 should not worry about DB remuneration as he has given a fantastic return to the shareholders. As with CEO's of Rolls Royce whose shares have gone up fivefold in two years or Marks and Spencer whose shares have nearly quadrupled.

Their CEO's deserve their remuneration.

The CEO's he should worry about are the water companies whose shares have not performed and are badly run but whose salaries are sky high and not deserved