Member Info for HarryTheCat

Last years half year results also were on the old concession agreement, which at $80 Brent increases net cash back from $18 per boe to $24 per boe and from $2.5 - $2.65 per mmbtu to $4.25 per mmbtu gas. Plus increased profit share and cost recovery.

All paid up : https://www.reuters.com/business/energy/egypt-clears-arrears-oil-gas-companies-2026-06-10/

All outstanding dues to all IOC's will be fully paid by this Wednesday, so the $86m owing at end of 2025 will be no more.

I expect, like Pharos, Capricorn have been receiving the outstanding payments in lumps, which is probably the reason why they were able to pay off their Junior debt facility early.

The $86m will also cover the Capex for 2026, where development drilling is looking to move significant resources from 2C to 2P.

Page 19 : https://egyptoil-gas.com/publications/show-daily-day-1-egypes-2026/

Https://trademarks.ipo.gov.uk/ipo-tmcase/page/Results/1/UK00004373528

There are two Brokers that do Research on MTL, Hannam & Partners and Panmure Liberum(both mentioned on page 12. The first has a 36p target and the second a 30p price target.

I only have access to H&P's latest note on the 24th April, which says "We expect La India to produce 98koz in 2027 at an AISC of US$1,562/oz. ". No subsequent research has been issued by them.

Are Panmure Liberum quoting ~$2200 AISC for 2027, to average it out?

Shutdown plan : htTPs://www.manilatimes.net/2026/05/05/regions/fcf-minerals-corp-unveils-mine-closure-plan/2335087

Accipiter,

Slide 12 of the latest presentation shows no production in 2026; it did in the February presentation(also slide 12).

It also shows reduced production figure in 2027, compared to the Feb presentation.

AISC for 2027 and 2028 have also increased significantly, although it's difficult to see on the chart, but looks above $1900 for both years. Understandable for lower 2027 guidance, but not for 2028 which shows the same guidance.

Feb : htTPs://metalsexploration.com/wp-content/uploads/2026/03/260130-Metals-Exploration-Corporate-Presentation-REVMD2.pdf

Today : htTPs://metalsexploration.com/wp-content/uploads/2026/05/260130-Metals-Exploration-Corporate-Presentation-REVMD5.pdf

It's always mused me that the anti Dupax mob were also frequent social media posters. Not just wrt anti mining but all sorts of subjects that without copper wouldn't be possible, including the devices that they use to post on and the infrastructure that enables it.

I guess someone else somewhere has to compromise with mining for their benefit.

Https://tribune.net.ph/2026/04/09/abras-masadiit-tribe-firm-against-mining

Some of the drill results we were waiting on from Cacao where shown on Page 20 of the latest presentations, including CCRD042, which the core of was shown in the November presentation.

As mentioned before, Table 1 image in the RNS on 9th December shows you where 50% would be(Y axis), against Time(X axis)

"How old is DB?" - 57

Using a 0% discount rate on an NPV tells me all i need to know about how 'rampy' the company is.

Hi CK,

I looked to see if they were speaking at Indaba, but were not listed. I seem to recall from many years ago that the 121 Mining Investment was a side show to Inbada and that they did separate interviews. Can't find anything yet for MTL, but will keep searching daily.

The 9th December RNS has a chart showing the schedule and milestones, with the Y axis showing the % complete.

DB's latest interview appeared to be in the same room as previous ones, although a slightly different angle, so not sure he was in Indaba at that point.

"Dupax was never a 200k oz resource"

There was way too much comment in interviews about Dupax happening and them already working on the EIA, which bought me in as an Investor.

Drilling ahead of performing Geophysics is not normally the path, but it looks like the company was rushing to get a resource asap to enable the repurposing of Runruno in time. Maybe the FPIC with the community was also rushed, prior to EL granting.

H&P in their note on 28th August were also talking potential numbers in excess of 200k oz per year, although never included any numbers in their valuation. Again, a bit of spin without a hole being drilled.

"Dupax exploration commencing, potential to extend to Runruno operations MTL was granted the exploration permit for the Dupax Volcanogenic Massive Sulphide base metal target in August. If developed, ore from the project could be processed at Runruno through a modified circuit potentially producing >200koz/year on a gold equivalent basis. Initially MTL is completing geophysical surveys to identify deeper targets with a 2,500m drill programme focused on high grade outcrops."

There may have been a ramp up in the SP attributable to the AGM Video, where DB talks so upbeat about Dupax and Abra.

Therefore realization that all wasn't going to plan at Dupax from October when the Barricades went up, plus initial drilling not hitting the target, has calmed down the previous excitement about repurposing Runruno.

Maybe that might account for the 6 months performance, against a rising Pog?

DB did mention in the Video that the potential project being acquired is cheap, so look forward to news on that.

Why didn't the RNS detail the Executives that were getting the LTIP Options? I see that in other companies issuing the same.

Glad they never issued the 15% of the share capital, as per AGM. I'll vote against that next time.

In the rear view mirror now, but appears that the exploration permit was suspended on 5th Feb

https://bilyonaryo.com/2026/02/10/mgb-suspends-woggle-corp-mining-permit-nueva-vizcaya/mining/

So did many other companies without their presentations being posted. Issue at Crux, I assume.