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Riverfort's holding declaration is late this month - they have declared on the 1st 6th and 8th of each month to date.

The last holdings declaration was wrongly dated and confusing (deliberately?) it came soon after that massive volume day when one third of the issued capital was traded. Who knows what their actual position is now ?

Nonetheless the next update will/should make their position very clear as to whether they were involved in a major way regarding that volume spike.

The silence from the BOD regarding serious news is deafening, it does make you wonder if the company is to be sold or merged, or are they simply awaiting the outcome of the appeal (now overdue)

XTR stock is pretty tightly held + the drop from around 1.3p was on tiny volumes - I mentioned before how continual small trades kept hitting the bid taking it down, it is a liquidity issue + the market value has not reflected the strong gold price move either, the share price is lower now than when gold was $1100 oz

We are overdue news and also know that it usually comes when least expected, after mid-day is the norm.

Bird was very enthusiastic when I saw him in November about XTR, I think his recent purchases of stock, around £30k's worth, tells you all you need to know.

Great opportunity to top up, buy back in or for newbies a good entry point, more-so now the juniors are showing signs of life once again + the gold price is perky.

There are 100k of shares sitting there and that is it - something is brewing IMO

Now Hawk have gone this should move higher, this prospective overhang has unsettled prospective buyers, they sold yesterday so the shares have been absorbed already - good news.

Can see this hitting 1p shortly, the company is materially undervalued and 1p would only equal a £7m market valuation.

Gold approaching $1600 oz

I have been around the investing world a very long time and cannot recall a more inept BOD, both historic and current - they all seem to have no interest in delivering shareholder value.

Another aspect is none of them have any interest in buying shares in the company they work for - Hutchinson had to be dragged screaming and shouting to buy £5k's worth and both JB and LC own zero and obviously have no intention of buying stock, hence the death spiral finance.

The problem is there are no institutional shareholders to force change ahead of the AGM and retail investors always struggle to bring about action, there has to be a plan, all this takes time and in some cases money.

I am convinced these guys are reading these discussions (well the sensible ones at least) but the silence is ongoing, no plan, just silence. They are also gutless, I can guarantee they will not do any presentations where shareholders can get at them, in the past they have attended the UK Investor Show (in April) I doubt this will happen this year.

No idea whether Flagstaff can be pressed into putting an event on, what say you Tim ??

The Riverfort equity share deal is only bringing in around £35k a month according to my calculations, if the share price says at current levels AST will barely get £400k out of the supposed £1m it was 'advertised' to bring in.

Castro said he hoped he would get £1m in the conference call, he then talked about near term upcoming news-flow but of course then retracted saying news over the next 12 months - what a performance.

The BOD have gone into hiding, they were forced to issue that pathetic update in December which shows they have done nothing material at all.

Tavira took all of the recent placing shares - hopefully they will hold for the long term and watch BZT grow.

There appears to be some games going on here, some entity is dumping small lots of shares periodically, in particular at the start of the day, this happened last year and soon after the share price took off. Very strange.

Bird needs to get some news out, he has behaved fairly well over recent times and I hope he will continue to deliver news to the market, a market which is looking to buy gold juniors right now.

I get the impression they are simply waiting (hoping) for a positive decision on the appeal in Slovenia, we all know this will never happen, in fact if they continue to wait we could be here next year and they will simply be saying the same things, however they will have to attend the AGM !!!

Last years total trading volume in MTL shares was just over 700m out of circa 2b in issue - Ruffer declared on the 26th January, in my opinion down to 84m (the RNS looks like it was written by a 5 year old with material inaccuracies all over it)

The interesting aspect is out of the 700m volume just over half of it was completed in the first 3 months - probably Ruffer continuing their selling, I recall at the time on this BB posters talking about Ruffer dumping more stock.

The total level of volume for the year far exceeds normal retail trading volumes, one must assume Ruffer are involved.

Based on the fact that Ruffer do not declare each 1% move I maintain they are probably near out and the dregs are being taken by whoever is in the market gobbling up 1m+ tranches.

I hope we get a RNS soon that they are out, but maybe we will simply have guess this as they seem far from regulated, if the large trades vanish and the SP starts moving up then I think it will be safe to assume the stock transfer is over.

Forecast about that gold is going to $1800 oz - makes MTL a fantastic opportunity at current levels, can see a share price spike coming as investors flock into gold shares - this could easily go to 3p (£75m m/cap) and still be considered cheap.

Under radar.

I one thing we can all agree on is the current share price is a gift, it is likely that the gold price will continue to rise given recent Mid East tension, this will be exceptionally beneficial to MTL and those debt restructure negotiations must conclude shortly.

jgallagh

There has been no official holdings RNS from Ruffer since January - they said they were under 5% - Could it be that the actual shares they held in January was actually 4.21% and the quoted number of 101m was actually 5% - errors do happen on these forms.

I cannot see how MTL could clearly state Ruffer held 4.21% on 30th September unless it referred to the RNS in January 2019 IMO. They would wait for the next TR1 surely.

So I believe Ruffer actually had 4.21% (85m) in January 2019 and have been dumping across the year of 2019 - we will soon see as I expect a TR1 this month from them that they are out.

All IMO

I am staggered that some here do not think Ruffer are selling their remaining stock and someone is acquiring it at the same time.

There is NO WAY any entity could continue to pick up 500k batches, let alone 1m & 2.5m lots, in one hit at current levels - that is a fact.

My take is Ruffer will RNS later this month they are out - across 2018 they sold nearly 90m shares and only declared in January 2019 - my bet is they have dumped most of their remaining circa 100m during 2019 and will finally be out when the RNS comes later this month.

Funds like Ruffer probably decided to out when MTL's market value fell below a certain level, this is normal and nothing to be worried over IMO.

I take the view that minorities will be bought out - it makes sense for the buyer to acquire every line of stock on the market before making an offer to the minorities, I would suggest they may initially make a cheeky offer of 3p but may have to go to 4p or 5p depending on market sentiment - most PI's here know the potential so any offer would need to be very decent.

This is my take on affairs, the nuts and bolts is buy as many shares as you can at current levels - there is no way MTL is going under and it's only a matter of time before the re-rate continues.

Saw this on Twitter tonight.........

https://twitter.com/Oilplayer2009/status/1213414553410818048?s=20

The market valuation here is very low especially now they propose a trading arm which could deliver meaningful revenues + a possibility of finding a funding partner for the mine is pretty good.

No wonder a few wise folks are buying at current levels.

The gold price rise assists indebted producers more than anyone else, remain staggered that MTL has not materially re-rated - the current £25m m/cap is balmy and one to take advantage of.

Someone picked up 4m shares today which were declared late, this only has a £3.5m m/cap but ORR have a 470 sq km gold licence right next door to the one that was recently sold for $450m