Member Info for HawaiifiveO

I think any news will be beneficial to calm the market, this company does not act like your usual AIM investment, they do not do interviews, presentations or podcasts.

Many companies would have been on the likes of Proactive or Vox to calm the nerves of shareholders, at least explain what is going on but here we are met with a wall of silence.

It is interesting, looking at historic RNS statement how this company seems to bend over backwards from an environmental point of view, they also look after the local community and are well received by the Government. That re-assures me immensely.

I would like them to confirm the CEO appointment, if so that will send a message to the market, if the appointment is a good one that in itself could return the shares back to 1p-1.5p potentially.

I still remain quietly confident.

Of course it is not known if they used the loan, as mentioned previously they have been broadly cash neutral over recent quarters.This is a really strange situation, not the major lenders i.e. the banks they are in default with but the major shareholders?

I suspect the major shareholders will agree to an extension but who knows, the company has clearly been in long term discussions with the banks to refinance, the vibes via RNS's were good, shareholders have no option but to sit it out or sell for a pittance.

Someone posted this on A@VFN it shows that there are charges on assets of MTL, anyone clued up on any of this?

https://beta.companieshouse.gov.uk/company/05098945/charges

A group of shareholders challenged Bird at the UK Investor Show back in April about his multiple directorships, his answer was along the lines that he views these directorships as a sort of portfolio, he went on to say to the investors that they would not put all their eggs in one basket so why should he.

It is clear that he treats directorships as a sort of investment, if one works out well then that will compensate him financially (through stock or options) I personally was quite bemused when he made this statement, but there we are, that is what he said.

Bird is attending the UK Investor Show in 2019, being held in late March however he is not easy to pin down because he flirts from one company to another, at the last event he even cut 10 minutes into XTR's time in the presentation to the 'benefit' of Bezant Resources. I was none too amused.

He is also a chum of Tom Winnifrith, Bird is often seen on the main stage, in other words he behaves very much in the same ilk as he does by not answering emails of telephone calls let alone do presentations during the year, he is evasive

I have no idea how true this is but I was told that any listed AIM company must do at least 2 presentations a year, if that is true then that has not happened with XTR.

Unlike others I cling on in hope as I know how the market works, the small cap resource sector has been decimated in 2018, falls average over 50% across the sector, some stocks are down 80%.

I expect the sector to recover in 2019, sector rotation is the norm, it happens often, a sector out of favour can quickly return into favour and deliver outstanding returns.

Perhaps Bird will pull a rabbit out of the hat in 2019, with the right sentiment we may, once again, see 2p-3p

Colin has fallen for the nonsense propaganda from the Slovenians concerning emails and tweets, in fact he actually dedicated a fair part of the recent LSE interview on the topic.

Our politicians and those of similar public status receive such 'commentaries' on a daily basis and primarily ignore them. It is MOST likely many of these emails/tweets have not come from Ascent shareholders at all.

How biased though, the Minister refers to tweets yet at the same time tweets price sensitive information then proceeds to go on holiday for two weeks, that tweet and subsequent speculation cost AST shareholders serious cash as millions of £'s was wiped from the company valuation.

Colin should not refer to such nonsense ever again, it is farcical, it is purely being used by 'entities' to hinder the process of issuing the permits, basically 'they' will do all they can to avoid issuing these permits.

I am of the opinion shareholders now have the fight for court action/damages, in the New Year the BOD need to start the process ASAP.

In fairness the major shareholders did not leave them much time to negotiate a restructure, the short term loan was announced on 22nd November with a default date of the 31st December.

AS we all know most people start to wind down around the 15th December (if not sooner) so I suppose they only had a around 3 weeks to complete a restructure.

They have been talking about discussions on refinancing being positive for over 6 months, there has not been one RNS to suggest otherwise. I really do find it strange when the company's operational performance is improving + higher gold prices that the major shareholders would set an unrealistic default date.

Again it is a wait and see approach, one for the brave, it is win or bust at this point for sure, if it is bust who wins? Not the likes of HSBC who have significantly funded them.

I am still hopeful based on logic but MTL management are not to be relied on either, perhaps why the CEO had to step down.

Well, as ever, we are in the hands of the major shareholders. In the past they have been supportive but who knows, this is now becoming more of a farce, it's a bit like Brexit.

The question is how committed is the Ascent BOD to fight the fight for shareholders?

Carver has TEN directorships, took £75k out of AST last year for a part time role
The Non Execs are just that, no real interest in a serious legal/potentially dirty political battle have they.
Hutchinson is on a salary (£150k+) that most likely could not be attained as a accountant, he has most to lose.

None of the above have any meaningful shares in Ascent.

I re-iterate my concern that the BOD may simply be content to sit it out, take the easy option, have they the stomach for a fight?

The larger retail shareholders have the most to lose financially, should demand action, seek a meeting or some format where this matter can be thrashed out concerning the way ahead ASAP in the New Year.

My guess is Hutchinson will want to wait until the end of January, maybe even the end of Q1, to see if these permits will come, if so that is NOT acceptable.

My view is they will not come quickly maybe they never will, at the shareholder meeting in March a very clued up attendee suggested that interference from the Russian state could not be ruled out, the BOD listened quietly but did not rule that proposition out.

It is clear that shareholders need to lead the way demanding action from the BOD.

The only other possibility is they have not used the short term facility, over the last two quarters they seem to have balanced the books, not drawing down heavily as in the past, perhaps they have managed to balance the books and the new short term facility was only there as a backstop in case the need of a unexpected funding event.

The financial position of any company is crucial, if there was anything negative right now they cannot sit on it, so I expect a positive update or no update at all meaning they have not needed the facility.

It is all speculation, not good for the small shareholders but I take comfort that the Nomad has not intervened hence I remain totally positive.

The clue here has to be the inaction by the Nomad, if there was a hint of failur by now to secure the necessary financial objectives the stock would surely be suspended.

The Nomad will be monitoring the situation and would have to protect prospective new investors buying shares in MTL, for this reason I am convinced there will be a positive outcome, however, I do find it strange there was not a 7am RNS.

Of course MTL are known to release news, quite regularly, during market open hours.

There can be no more pussyfooting around from Hutchinson & Co - I suggested a while back an ultimatum needs to be given to ARSO - give us a decision on permits within X time (no longer than 1 month) or we will start legal proceedings for extensive damages.

It is also a fact that the Minister tweeted market sensitive information that resulted in a loss of shareholder value, he then proceeded to go on holiday for two weeks, this action must be questionable to say the least.

My view is AST have an exceptional chance of winning any legal action, no matter how long it takes, damages could be in the region of £150m+ I doubt the authorities would want the publicity of such an action, it will surely put off prospective new energy related investors into the country.

I believe shareholders have had enough, have the stomach for the legal route, unless ARSO award permits in short time bring it on.

Fund Manager asks how can a director be focused with multiple directorships. One for Colin Bird to explain !

https://www.youtube.com/watch?time_continue=506&v=KyUNmte0UJ4

I have a strong feeling there will be an announcement tomorrow morning - late price action may be a clue.

The Nomad is the company Nominated Advisor - all listed Co's must have one to maintain their Stock Exchange listing.

In a very simple format they are there to ensure fair play, the aim being to protect market participants, they work with the company and would, almost certainly, know of the entire situation at MTL.

I am sure, by now, if the company had failed to move forward with the various negotiations, being a change in market perception for example, the Nomad would have forced the Co to make a statement, a Nomad can also ask the Co to suspend the shares if they feel there was a 'false' market.

For example, if the Nomad knew that MTL had failed in their attempt to re-finance then there would be false market in the stock over the last few sessions, they would have acted to protect investors by calling for a suspension.

For this reason I feel all is as well as can be expected at this point in time, we will soon know for certain.

I fully expect an RNS either tomorrow or Friday, it could cover a multitude of events, I cannot believe they will delay until New Years Eve Monday.

I am sure the Nomad will be active in monitoring the situation also, surely if there was a clearly negative scenario the Nomad would have had the stock suspended by now.

I remain optimistic but exceptionally frustrated that the major shareholders who have historically advanced short term loans have now decided to impose a 'default' deadline although historically they have extended deadlines before.

I think the Nomad is a clue to upcoming events, negotiations with the banks etc would have surely been completed by now.

For clarification - salaries refer to director remuneration in 2017

Base wages and salaries are stated as £312k in 2017, since then there has, quite rightly, been cuts.

Carver (with 10 other directorships) does not deserve to be paid £73k in my view.

I would think the salary levels could be cut to £150k quite easily.

None of the directors have taken new directorships in 2018, people posting lies on this forum need to be aware of market abuse disclaimer on LSE before posting.

Working overtime on Xmas day - must be some good news coming!

Truth is we have no idea what is going on here.

We have a company that seems to be improving operationally, producing circa 50k oz of gold in a reasonably high price environment with higher production levels expected next year.

We have major shareholders who have supported the company when times were far worse

We have bank finance from the likes of HSBC who would surely not benefit from pulling the rug

We have lost the long standing CEO recently

We are told his replacement is imminent with 'advanced discussions'

We have had a large shareholder dump 70m shares at a fraction of the then share price of 1.2p selling at .20p

We are told there is a deadline/default date of 31st December on the short terms loans provided by the larger shareholders.

We are told news will be forthcoming by 31st December.

How can any investor make a realistic investment decision based on all of the above, what a conundrum !

Surprised no-one has noticed the RNS on 28th December last year concerning Capital & Interest Payments - I suspect we will get the eagerly awaited update then.

I am keeping the faith based on historical events and research.