Member Info for jdj2

Haha, exactly. I have lost all faith in Mr. Lassonde.

Beb Ben, I guess you didn't quite get the response you wanted to your first comment - let's try again and see if I can get a bigger fall to help my short.

Other than giving a reminder (if any were needed after the Iran shenanigans) that the U.S. hates any jurisdiction that does not conform to their ideal of democracy, I don't think this is materially relevant to MTL - the use of sanctions globally is a weapon that the US tends to use to favour US companies.

Exactly, but LMA’s point is that even without the expected / anticipated reserve upgrades, La India is a very exciting resource as it stands.

That video is from December! Where is the update we were promised?

"Did DB say that there will be no production in La India this year, or did I hear that wrong? Thanks in advance"

"In case anybody hasn't noticed the main market is doing rather nicely at the moment. Lord knows why now but there it is......"

Must be Brexit.

After the weekend's events I expected some turmoil today, but I expected all regional miners would be down (with the rest of the world's gold miners buoyant with yet more uncertainty). However, with the local producers up again, we can discount the effects of the military operation in Venezuela. Share price movements do not generally disturb me when I can guess the cause, but this fall is strange in its isolation. The large unknown trades are also odd, we can assume they are mostly sells by the down trend. I can only assume (best case) that because we are not yet producing in Nicaragua, the uncertainty in Venezuela is having a disproportionately detrimental effect on us rather than the established producers.

TrueRed, where did you get the gold price range of 3300-3600USD from? I am sure DB stated that all gold hedges had expired and the current price is in excess of 4000USD. Are you simply being cautious or has the company indicated that would be a reasonable range?

DYOR

I should probably know this, but I would appreciate it if someone can explain why we have so many late trades. Usually they are several hundred thousand shares and usually late in the day. Is it to disguise from the plebs whether it is a buy or a sell? If so, surely it is a form of market manipulation.

I am not naive, I know the MMs have a host of tricks to move shares, but would it matter if they posted the trades when they occur? What harm could it do?

The tax take for the government from a producing gold mine usually outweighs any of the standard prevarication and I suspect customs will be encouraged to avoid unnecessary delays.

I thought the name would be changed, but it actually makes sense to maintain the connection since Condor made a lot of effort (and spent a fair amount of money) to cultivate good relations with the locals, including providing water, fair prices for land and other services to schools and community centres.

My modest top-up at 16:43 of 26k shares in my ISA shows as Unknown.

Fair enough! Difficult to argue against that....

I suspect that without MTL, the only news would be our appearance at another S. American mining conference touting our "World Class" resource and another bail out by Mr. Mellon at eye-watering interest rates. I am a total MTL convert, despite being initially sceptical.

Credited cash yesterday.

That is you Mr. Mellon and you Mark Childs. I trust that you are both squirming with embarrassment at the ease with which the MTL board have grasped the CNR assets and after a few weeks are actually doing what you were promising to do (but failed) for 9 years.

It is good to have a doer, not a dreamer in charge at last.

Thanks Sunjammer from refraining from using the phrase "shovel ready". Phew, I was starting to think you might be MC undercover.

I reluctantly voted for the only deal we have and are going to get. Tomamara has put it succinctly - because of JM's irrevocable vote for MTL there is simply no possible alternative except the deal that JM and MC have set up with MTL.

Nothing against MTL, they appear to be a well-run company who should be able to deliver a future. What I can't accept are the poor decisions taken by our incompetent management during the last 3 years. I will not go through them all as they have been aired on here exhaustively, suffice it to say that the "irrevocable undertaking" to vote for this deal was the low point. My understanding of the director's responsibilities is that their overall requirement is that they act in shareholder's interests. So how can it be in our interests to effectively prevent any potential higher offers? OK, we did not get any better offers (although we will never know that because the offers received were all subject to NDAs and in Jim's opinion were "too low") after 2 years, but it is not inconceivable that the MTL offer could have flushed out a higher one from the Chinese or Calibre. That is how the market works and who knows what fair value is until at least one offer is on the table? In my opinion, Jim's "irrevocable undertaking" to vote against any other offer, higher or not, was not in the shareholder's interest and is a dereliction of his Director's duty. He closed the door on a better offer coming in after he had shaken on the deal with MTL. That is unacceptable - it should be our decision by a fair vote on what we consider an acceptable offer for the asset or the company, not the decision of one person alone with 26% of the shares.

I'm with Surrey123 in that I don't see any benefit in voting much before the deadline, but I will vote FOR on deadline day if nothing materialises by then. If that is the case, then this bargain basement giveaway is a done deal and the best we can expect. The alternative is disastrous. We have the worst management team on AIM, which is a very low bar.