Member Info for HawaiifiveO

Bought in here around .55p after some research and listening to the CEO interview recorded last August - clearly not a company that likes to engage with the market, that's all well and good so long as the same CEO does not place stock at basement levels.

AIM is all about promotion, without it liquidity dries up and you get the kind of share price fall that has occurred at KZG over recent months.

News on a number of fronts seems overdue.

It is essential to email ……

mtlsag25@gmail.com

with your holding, and details like your broker, your name etc.

Remember the aim of the action group is to try and protect YOUR financial interest in MTL.

An initial goal of the action group would be to acquire voting rights on 5% of the equity - that equals 103m shares - I have been party to a number of corporate actions and would suggest the likes of Baker Steel (6.5%) Ruffer (4.2%) and Jarvis (3.5%) + other larger holders will not sit idly by if a deal is not deemed fair and responsible.

Every share is important in such actions, in one instance I was party to a number of resolutions were passed by just 1m shares - no matter how small a holding is it is worthy and should be added to the action group.

So email the group here with your holding details to.... mtlsag25@gmail.com

I would urge all shareholders to get involved with the action group - there are some large retail shareholders posting on this bulletin board - we need to act now to ensure our investment in this company flourish.

My holding is with HSBC in a nominee account but ALL brokers will let you vote on resolutions, all one has to do is contact them, usually by secure message.

Despite being suspended the company is still obliged to deliver operational updates and anything else that is relevant via RNS.

The initial rumour concerning Edwards scuppering the re-financing came from a fellow who posts as 'Wiseacre' on A$VFN, the same poster placed posts concerning the banks position around the time the bank debt was bought out by the major shareholders.

It does seem the fellow may be inside or could this poster be associated with entities wishing to deface Edwards for their own benefit. Maybe Edwards is not the culprit in all of this and perhaps it is the other party. This poster suggested that CEO Bowden was at the point of meeting certain shareholders regarding refinancing proposals but had to pull out at the last moment.

Fortunately we are not as weak as some other situations that have shafted shareholders in the past via wipe out, the reason being there is at least one institutional investor who would have the means to protect their investment and minorities own a decent chunk in general, namely 35% of the issued capital, this is not a one way bet by any means in my view.

I suspect there may be legal implications involved if wipe out occurs, at least one major shareholder apparently blocked the proposed placing demanded by the Bank's to refinance the debt, had that placing gone ahead we would not be in this situation now would we.

I do wonder how much the financial crash has changed the ongoing situation, will it positively affect it or negatively.

No doubt all will be revealed in due course.

Having considered various aspects of recent events I conclude that on balance it is not in the major shareholders interests to bankrupt the PLC - I believe the fact that one of the entities were considering a D4E is relevant as they would need a listing to get their money back at some point.

I also think the adverse publicity from wiping out the PLC and the minority shareholders would damage these entities moving forward - I cannot see Mr Bowden wanting to be party to such an event either, he could walk.

The matter of whether the Mining Licence etc can be easily transferred is also a potential hurdle.

It is rather frustrating not knowing the outcome but MTL is leaky and I suspect media will be poking around and we could a feel for what is going on, nonetheless I still think news will come sooner than later, we are only dealing with 2 parties (major shareholders) not a consortium of banks like before.

Roy I hope all goes well.

It seems the CFO may be based in the UK, might be worth a call

Michael Langoulant
Chief Financial Officer
+44 (0)7899 249990

In respect of Crux I have contacted them over another company over the weekend and they were very responsive, not sure if they would be interested here given the circumstances but might be worth a try.

Very impressed with the Email sent by Grocer - this type of activism is to be encouraged, for the record I note that Sh@re prohets have an article on MTL but is seems they offer little by way of information.

As mentioned in my earlier posts I bought more stock on the basis of operational improvements and the message being portrayed via RNS statements - no way did I expect the major shareholders to cause the current issue.

Hoping for a positive outcome.

They continue to take options instead of salary, so what do they know ??

https://www.youtube.com/watch?v=NDn_qn_kTWs&feature=emb_logo

Does the possible loss of a listing work against the major shareholders, if a deal was concluded they would be the major beneficiaries as the value of their shareholding would increase significantly.

I listing would also enable MTL to raise cash in the market at higher levels meaning the major shareholders could be repaid more quickly.

Everyone is clutching at straws, how disappointing this is given the massive rise in the gold price, £100m debt is not insurmountable given MTL's production of 80,000oz pa + ongoing operational improvements.

Investors were rightly buying the improving operational and financial situation at MTL, the last thing everyone was expecting was to be potentially shafted by the major shareholders right at the last hurdle. It did look like a deal had been concluded but one entity seemingly did not like it.

Hopefully news will come sooner than later.

Plenty expected here...

Final Results (should show reduced losses + cost savings)
Drilling update from Iamgold on ORR's license in Senegal (excellent grades reported last year)
Cameroon new licences imminent (CEO says Cameroon could be new Tanzania)
Iamgold decision on Boto mine build (if go ahead massive for ORR)
Cameroon exploration update (Bonanza grades reported last year)
Thani Stratex drill results (possible major new & world class gold trend)
Asset sale news - 5 NSR's in Turkey (Gold NSR's are fetching record prices currently)

Any or all the above could come this month - there is also some speculation around some corporate action, is a deal with cash rich ORM likely ?

Heck of a lot of prospective value for a £2.5m company,

Everything is mere speculation until discussions conclude - we know a D4E proposition was in the mix, if so one of the major shareholders would have been in agreement to take shares, according to reports/rumours Edwards/Runruno (19%) was not happy and the CEO had to abandon discussions with certain investors.

Clearly the Standstill Agreement has to be agreed by BOTH major shareholders who hold the debt, can a compromise be reached, I expect this will be concluded reasonably quickly one way or the other therefore, negative press in the Philippines will be detrimental to the prospective new owners IMO.

The rumours on Thursday/Friday were that it was Edwards (Runruno) who torpedoed the intended finance restructure - how ironic that as soon as the company is restoring itself to operational health we get this.

Frankly I was surprised the shares were not suspended as soon as the possible debt for equity statement was made without further clarification at the time. For the CEO to suggest a D4E arrangement one must assume that one of the major shareholders had this in mind, or even agreed to it.

So is there a disagreement between the major shareholders? Could this be sorted out shortly and some compromise reached, it is hard to say of course.

How will this effect sentiment at the mine, how will this effect sentiment with the authorities in the Philippines, will Darren Bowden walk, there are many factors beyond financial in this episode in my view.

It's not over till it's over.

I became suspicious when the last RNS contained the veiled comment concerning the possible D4E element with no details - without that comment the share price would probably surged past 2p based on the excellent operational performance. In my view it is was designed to create uncertainty and doubt in the market - exactly what the market detests - the selling started almost immediately soon after.

Obviously a low share price favours the major shareholders who may want to buy out the minorities for a little as possible, my last post suggested an offer under 3p a share, based on peer valuations, would be daylight robbery for the minorities. At 3p the major holders would have to stump up circa £20m for the buyout but only circa £3.5m if they tried for half a penny.

The good news for the minorities is for the major holders to attain a level above75%, where they can force through a deal, they would need to acquire circa 200m more shares. That will be a hard task as retail will be watching the market volumes carefully and many shares are in sticky hands.

For what it is worth I believe we will get clarification on affairs sooner than later.

ORR could shortly receive approval of some very lucrative licences in Cameroon - they have applied for 7 or 8 - according to ORR CEO Cameroon is the new Tanzania and Oriole are first mover in the country - that is massive for a £2.5m company, it would interest major JV partners.

Asset sales could deliver £5m+ compared to 2.5m m/cap + they have a large licence in Senegal that is subject to a JV with $2b Iamgold - the licence to the left sold for $470m recently DYOR

https://twitter.com/Oilplayer2009/status/1235879062725419008?s=20

With the equity only valued at £15m - for a 80,000 oz pa gold producer that is improving operationally all the time, expect lower costs + the gold price is in bull mode - any offer must take account of peer valuations.

The current enterprise value is £110m but peers have market caps of £145m - to £180m

Taking a mean valuation of MTL's market cap of £160m the offer to buy out the minorities at market value would need to increase by 2.5p from current levels o equate to 3.2p a share.

Anything suggested below 3p is outright robbery IMO.

There seemed to be panic today from certain shareholders but let us consider this.

According to reports the CEO was due to meet certain shareholders to clarify/conclude the debt for equity deal - in my view the deal would have been agreed by the Candy brothers (the 48% shareholder)

It has been suggested that Edwards from Runruno (19% shareholder) was not happy over the terms and wanted to block it, that seems to be the reason behind the selling.

Even if the rumours are true and the 2 major shareholders combined to try and shaft the minorities they would need over 75% of existing equity - they would need another 200m shares - that is a talk ask.

So minority shareholders still have some significant clout, a deal will have to be acceptable to ALL shareholders therefore, whilst there is some risk I believe it is modest, every AIM investment carries risk, in the case of MTL the upside potential outweighs the downside by a significant margin hence why I bought a large tranche of stock at these silly levels this afternoon.

That is why MTL is a BUY but do your own research.

They want a decent premium for size buys now, price behind the scenes is strengthening.

Gold surging ahead today and this is down 33% due to a apparent distressed seller.

Take advantage IMO.

IG are quoting 1.2p for 2m shares right now.