Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I don’t think that correct Suhail. I think the 2 largest holders have invested over 100m themselves. If their average was 5p they would have only invested circa 14m between them. When I first bought in my initial price was 38p and I’m sure theirs was up there too.
Still here with plenty of skin in the game. Like Adam, I have no intention of selling short term. This stock is a game changer and the management team have proved that this year. As much as I would LOVE an agreement this side of Xmas, if it takes longer it takes longer. (Fundamentals remains the same) I have faith that DB will only agree a deal that works for MTL. Wishing you all a merry Xmas and a prosperous new year. Jamie
I’ve been invested here for 15 years, back then the company was called Kopane Diamonds. My average is 45p and my holding is now worth 2 grand. (A huge loss) they may have 20m in the bank but this has been accumulated over the past 2 years with no interest payments. That’s less then 1m per month and they have been running (until recently) at full capacity. They owe something like 130m which would take over 10 years to pay back assuming no other problems and that they give every single penny to the banks. Problem is, the life of the mine is 8 years. Rather then paying back part of the loan over the last 2 years, they have continued to issue new share after new share after new share which has completely decimated the share price. A very very very poorly run company. You will make some money if you bought 2 weeks ago at 0.5p but don’t expect miracles. The best I can expect from this company is the ability to offset my huge loss against future gains on my tax bill when I choose to sell.
Roy - it’s your money mate. Do whatever you need to do. I will also do the same at some point, but my average is circa 1.15 and the way I look at MTL is that I’ve been here for 12 years, I’ve seen some awful performance and for me personally (and no reflection on you or anyone else who sells a bit) I am extremely confident that we are close to getting a mutually beneficial agreement in place which will re-rate this stock to a more reasonable level (circa 3p) as we are still priced to fail in my humble opinion. I’ve stuck around through the absolute worst times so unless I needed a bit of cash or wanted to reduce my risk would prefer to hold and reap the rewards in a few months time, we all know they are coming :-) good luck to all long term holders. Jamie
Spot on Lee and one more point to add to your list, During this transition from 3.5 to 1p our debt has not increased, DB has turned the company from a loss making business every quarter to a profit making business (per quarter)
As we are sharing views and opinions here’s mine.
I was always a believer that the banks would take a haircut. I.e. Accept 50 cents on the dollar for their debt. The fact that the banks have given us a 9 month indefinite payment holiday to see how the new management team can turn things around, during which time we have made massive!!!!!!!!!!! HUGE!!!! Enormous!!!! Improvements which have demonstrated quarter on quarter on quarter results never seen before by MTL in the companies history the last of which saw sales of almost 19k ounces of golf bringing in 28m revenue in 1 quarter all suggests the banks are happy to wait and agree a deal which benefits everyone. No point agreeing a deal which MTL can’t afford to pay, looks bad on everyone. Equally (and I’ve said it before) we have a leader in DB who will only agree a deal that is right for the company.
I do believe we will get a deal and the share price will re rate very nicely for all. I also believe that DB will make sure the major take a haircut on their interest payments (as Lee mentioned) there is NO way given what I’ve said about him above he will allow us to move forward with 20 percent interest payments. This is crazy, unsustainable and would only have been agreed by a desperate man (the previous CEO) the major know they need DB more then he needs us. He’s completely turned this around.
I also agree with Lee’s previous statement, spending 5m now on updating everything that needs upgrading, maintenance etc... whilst we are paying no interest is pure genius and means when an agreement is reached we are cooking on gas!
We are trading at almost the same price as we were 10 months ago, when the market thought we were going out of business, the banks had given us an ultimatum (which we turned down) there was going to be no nomad, we were going to be delisted from AIM and we were losing 3m a quarter. In January I would have said this is a risk at 1p but one that could be very very rewarding if everything goes to plan. At 1p with everything that has happened through q1, 2 and 3 it’s a screaming buy.
Of course there are still risks, it’s a mine, but from January’s 1p to today’s 1p we have ticked 8 out of 10 boxes, de-risked the **** our of this company and have the big one still to tick (refinancing)
I think you’re right mrlol, people wanting to make a quick buck have jumped out on news. This is still massively under the radar for private investors. Well played Lee, I’m glad I’m not the only one that believes this is an absolute no brainier at this price and given the progress made since Jan. Today demonstrated HUGE improvements that have been made by the managment team. I was shocked to see almost 19k ounces of gold sold and was expecting (and would have been happy with) 16.5k...
My gut feeling is there is no agreement to announce “yet” and we crack on with the standstill agreement and no debt repayments to make.
BUT... and this is where is gets very interesting, tomorrow’s RNS WILL demonstrate, a record volume of gold mined in a quarter, a record percentage from the biox (i.e our new experts are making strong process) the best gold sales in the companies quarterly history and all at a much higher gold price!!!
Roy - like you, I’m not sure where the journey ends for me yet. My average is 1.2p these days so I’m finally in profit. (Not a phrase I used much with mtl over the years) But I can’t help feeling this is just the beginning. I’ve been invested here for over 12 years and have never felt so positive.
I wish everyone good luck tomorrow, whatever you all decide to do.
200 grands worth of extra stock purchased by the new chair! What a glowing endorsement and another buying opportunity. Time to increase my holding I think. :-)
Nice to see us push through 900 today. Onwards and upwards.
Well said Tilburn
Would be good to know what broker has this down as a sell? I haven’t seen any brokers comment on mtl for a very long time. I’ve been invested here for over 12 years with a sizeable chunk, so do keep an eye out for any news.