Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Mm looking to personally sell the THG property is a really positive sign. No one wants to buy a business that leases building from the previous owner who still owns the real estate. Getting their ducks in order for a sell. This will be taken out in the next 6 months, question is, at what price?
Everything is taking a pounding this afternoon due to us inflation numbers. This drop has nothing to do with THG performance and or upcoming numbers. Just look at boohoo or the Dow Jones itself. An opportunity to load up! The share price is not the company and the company is not the share price.
I went through a small buy out a few years ago and took 6 months of hard due diligence, huge amount of time and effort required from a large number of people. If someone wanted to buy my 1m house for 300k, I wouldn’t bother wasting time going through the process either, even if I thought they might come up a little bit on their initial offer. MM will take this private, it will just be what price! 1.70 significantly under values the business according to MM. Let’s see where we end up. Don’t worry about the current price, it will be irrelevant and does not represent anything other then a market which does not like MM. The share price is not the company. Good luck everyone.
Let’s be realistic. We have a new Chairman who has three week ago purchased 1m pounds worth of stock in THG at circa 84p. He will be privy to absolutely EVERYTHING going on and is not going to pump 1m of his own cash into something on a hope and a prayer.
If you want to understand the level or audit and risk management which goes into THG, just read the last years 250 plus page financial accounts with specific sections on both audit and risk management.
The company is not the share price. Keep the faith. Lots of scare mongering usually means one thing, time to buy.
Good luck all and do your own research.
Let’s be realistic. We have a new Chairman who has last week purchased 1m pounds worth of stock in THG at circa 84p. He will be privy to absolutely EVERYTHING going on and is not going to pump 1m of his own cash into something on a hope and a prayer
The company is not the share price. Keep the faith. Feels like a perfect time to add more!
Good luck all.
I’ve never been in this situation before, what happens if we get a bid of 2.5 accepted, do we have to sell our shares? Or do we wait until the transaction is done and this is automatically sold and credited to your share dealing account? If so how long does that normally take? Good luck everyone.
Don’t forget to look at it like this....
If they wanted to buy the business out at 5p per share, as Lee said, this would only be a market cap of 100m, they own 70 percent of the mine so only need to pay 30m. They have just purchased 65m of debt from the banks which you would never do unless you knew the true value (they do!)
Even at 5p this bad boy is cheap!!!
Completely agree Lee.
I’m expecting a nice RNS on Friday morning to confirm the deal is done. The previous rns was pretty clear on 30th Jan deadline and DB very rarely (if ever) agrees to a definitive date and then publishes it without everything being lined up and ready to go.
You would also expect that the debt is being bought out at a discount and a strong operational update is on its way. :-)
There is no way candy and partners would buy the banks out unless they knew they were sitting on a gold mine. They will also have access to daily updates and will have known about this quarters performance on New Year’s Day.
Just a quick reminder (for the newbies) we were trading consistently 2 years ago at 3.6p with same amount of debt, number of shares issued, gold at 1100 and losing money every quarter as a newly opened mine... 4 years ago we were trading at 8p with all of the above and not a single ounce of gold produced.
12 months ago the business was “supposedly” going out of business, a year later on track to 80k gold production, the current owners have decided to buy the banks out :-) if this doesn’t demonstrate confidence I don’t know what will. Still priced to go bust hahahaha. The rerate begins today. Good luck all.
Happy new year H5O, hope you had a good one.
The last share holding update on 1st Oct 19 said that Ruffers still owned 85m shares (4.21 percent) this was down from 101m in Jan 19, so they definitely are selling, question is, have they sold 85 million in 3 months? Feels like a lot.
It was made clear 12 months ago that ruffers were getting out of the AIM markets after a very poor performing year for a selection of their funds. Not specific to MTL.
I’d love to see them out sooner rather then later, but as many have highlighted wether it’s ruffers or not, someone is buying up the sellers shares in quick succession.
It’s going to be a big year for MTL.
That should have read 28p not 38, slip of the thumb but this has been into the 40p’s.
Also worth remembering that a 13p per share offer by the candy’s (our largest holder) was made to take the mine private but wad rejected by the board. This was before we had mined a single ounce of gold and the price of gold was nowhere near 1500 per ounce where we are today.