Member Info for HawaiifiveO

Taken another 1m since the announcement.

The RNS clearly states they have started talks to try and resolve the impasse.

You do not get such a high profile CEO move from a major company into MTL only for it to go into administration a month or so later.

The major shareholders are in deep also, the banks will re-negotiate IMO, keep an eye out for another piece on Share-prophets also., they seem to be in the know here.

The new management at MTL would surely not have come on-board without a serious plan concerning the debt restructure - they must have visited various scenarios - the major shareholders do have the ability to add capital but the ask of $20m was far too much obviously.

Maybe we will see a reduced equity demand which they may agree to, on the other hand there may be new financiers/entities sitting there ready fund or make a takeover approach for the entire company.

This will attract speculators until such a time the matter becomes clear - from current levels it is option money verses a possible 3-5 times short term upside multiple in my view.

Events here bare no relation to nil income Bellzone Mining - MTL are producing circa 50,000oz of gold pa for a start and the matter in question is re-organising debt as opposed to seeking significantly more funding.

Whilst there is now increased risk the upside could be multi bag status - if a deal can be concluded - seems likely something will be cooked up as it is in no-ones interest to put the company into administration - especially the banks.

The equity raise element from the banks ($20m) was always balmy - how could they expect a company valued at sub $25m - with a bombed out share price to raise $20m within a few weeks.

In my view it was a test by the banks to see if they could extract more cash out of the major shareholders - their answer was a resounding NO. Perhaps they may be prepared to stump up $5m but $20m - clearly not.

I expect the banks were ready for this outcome - it seems Share-prophets (who seem remarkably well informed) were on the nail, they further implied there would be a deal finalised.

The new team are ready and in place, how stupid it would be if the banks pulled the rug away now - no way IMO.

Banks cannot win here - their choice is support the company with an amended refinance package or they will lose circa $70m - they cannot take possession of the mine because of Philippine law as far as I understand.

It looks like the article in Share-prophets has come to being, namely the equity element was a gambling chip and never likely to occur - I would expect some re-organisation therefore.

More risk but very high rewards for the brave !

Has anyone considered the possibility that the major shareholders could subscribe to equity funding at a premium to market to raise the suggested $20m - it is not in their interest to issue billions of shares as they presumably have very high initial purchase prices.

I have seen a number of situations where major shareholders have subscribed for stock at a premium.

It seems nailed on that the company is not going to do a rights issue or anything similar as that intention would have been declared by now.

I am sure they are aware that the market wants clarity on the equity element of the re-financing ASAP - I am expecting news sooner than later therefore.

At current levels the shares look exceptional value in my view.

There is a hell of a lot going on for a company only valued at around £3m - there is some revenue, albeit modest (at the moment) but far better than many other AIM juniors in the sector.

I have been adding here as I expect more news is coming before the UK Investor Show late March - this could easily double/treble and still be considered good value.

The sector is still bombed out but is known to recover quickly when sentiment turns.

Buy low sell high!

There is a hell of a lot going on for a company only valued at around £3m - there is some revenue, albeit modest (at the moment) but far better than many other AIM juniors in the sector.

I have been adding here as I expect more news is coming before the UK Investor Show late March - this could easily double/treble and still be considered good value.

The sector is still bombed out but is known to recover quickly when sentiment turns.

Buy low sell high!

Well I have no idea what event you went to - it was clear as crystal to me, they said they have a decent level of cash - in respect of the compressor vendor finance was available - the presentation also included a statement that they wanted to protect shareholders from dilution.

What is clear, they are aware also, there are entities using social media with intent to try and damage this company, these entities could be in for a shock - more-so if they short.

All IMO of course !

I attended the event last night, last year I was very vocal and critical but this year there has been change at board level - we now have a top notch oil & gas man in John Buggenhagen, his presentation was concise and clearly explained how much value there was to be had in Slovenia.

It is clear they are pursuing a number of initiatives that will return value - John was very impressive and totally committed - he re-iterated how unusual it was for a junior company to have such a valuable asset combined with an off-take agreement with a major in INA.

There is a great deal going on behind the scenes concerning Slovenia + exploring new opportunities, John is tasked with seeking out new value enhancing projects and will deliver in my view.

They are looking to acquire a compressor, if I heard it correctly the compressor can re-stimulate wells, increasing flows in a range of 7-10 times, lead time is around 5-6 months.

The aim is to take investors minds away from permits and moving on with a stream of new developments.

I think most attendees left the event in a far more optimistic mode.

I am totally convinced AST will recover strongly from current 'option money' levels.

Looks like the new team were determined to get all the skeletons out of the closet and start afresh.

It is now clear why the old BOD had to go, being replaced with top notch personnel. My take is this is a full blown recovery play from a very very low base.

I think buyers will return at these levels very quickly.

This is clearly good news, would suggest Hutchinson was aware of 'politics' going on behind the scenes - does this mean permits will be granted imminently I wonder?

@JureLeben

22 minutes ago

Yesterday, I offered my resignation to the president…

Gold sold and produced remains unchanged - the new management team can now look to improve recoveries moving forward. Looks like they are very much on the ball.

Surely he is not coming to the meeting with nothing tomorrow, if so I will not be amused. What a fiasco it will be, bad enough with news but with nothing new to say he is setting himself up for a right grilling.

There are SO many aspects, his salary, where is the money coming from for new deals, legal action, legal action against Leben re tweeting price sensitive info, a placing needed for the SR then aborting it soon after, well stimulation, general lack of progress over the last 6 months - you could go on and on.

1 day left to deliver a meaningful RNS - last year there was nothing before the meeting BTW.

Have taken more this morning - some chat around Ruffer are out, if so it should bounce nicely.

I have taken some of Ruffers shares today via the market, just under .80p. I happily took shares around .50p when the other large holder decided to dump - sold them for around 1.6p a month or so later.

I believe the only reason Ruffer are selling is because of their investment criteria - when a Co falls below a certain market value they sell, plain and simple.

I am convinced we are near bottom, Ruffer cannot have many to go, IF it goes lower I will add again.

If there is nothing by the 27th the atmosphere at the event will be particularly hostile - make no mistake.

I am convinced there will be a news release this week therefore - have they found a way of stimulating the wells without the need for permits ? Are they pursuing on-site oil production? Could they be merging or JV'ing with a larger partner? Could they be about to sell the project and move into Croatia?

I have been looking at the UK Investor Show website for some time, Ascent were not featured a month ago but have now appeared on it, does this mean anything I wonder, have they a new story to tell?

Only 3 trading days left deliver an RNS before the meeting, I will be watching trading volumes from tomorrow.

49p was paid on Friday - the shares have consolidated from the 10p rise a month back - they look ready to move up again.

I am staggered more have not cottoned on to the 10%+ yield - gold looks like it is going higher, so the special dividend should be maintained.

I noticed Cantors have a 97p target price - no surprise IMO.

There is a great deal of scare mongering on this bulletin board by certain entities, it is a fact that there are 100's of pre revenue AIM companies that survive year in year out - AST has revenue currently, it is possible the producing wells can be enhanced via other means + maybe other initiatives are ongoing to deliver value.

Talk about it being 'curtains' for AST is pure and utter nonsense - unfortunately some folk get scared by such statements and sell at huge loss only for some left field event to occur which propels a strong share price rise soon after.

It is clear something is going on at AST, new board members & Hutchinson talking about 2019 hopefully being a better year for the company. Perhaps we will find out next week.

I noticed that AST are now appearing at UK Investor Show in late March, a few weeks ago they were not featured as attendees - who knows whether this is relevant?