Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Also worth mentioning (and not forgetting) that we were trading consistently between 3.5p and 4p less then 12 month and had never recorded a quarterly profit. Not only have we increased gold production to record levels with still lots of room to improve, we have recorded a 3.5 million positive free cash flow for the quarter all with the same number of shares in issue as 12 months previous.
Although I would have liked more, let’s not forget this is a recovery play.
This quarter demonstrates the largest quarter in the companies history and the first quarter we have actually made money. 3 million quid.
We are also in the middle of a major negotiation where we would like our lenders to take a hair cut on the debt and the terms.
We sold 15.2k oz of gold compared to 11 oz last quarter, again a record number for the company and demonstrates progression.
For new investors this represents a huge opportunity to buy in at a very low price for long term holders like myself, we just have to wait a little longer. Have faith and patience, this will come good :-)
Couldn’t agree more Adam.
Less then a year ago we were trading comfortably at 3.5p without a single peice of news and or the prospects we now have. Same debt, same number of shares in issue etc... At 3.5p I was calling MTL the bargain of the century as we were trading at 6p a year before this.
For the record and for those who don’t know, my first purchase was at 26p over 12 years ago.
DB joins in Jan (first class CEO) and is doing a fabulous job here, news is flowing and we have certainly turned a huge corner and will be back to 3.5p in no time, and that’s just the start...
My average is now at 1.25p and took a lot but also demonstrates the confidence I have in MLT.
GLA :-)
Jamie
Great start to the day and Demonstrates to the wider audience that we mean business. :-)
As said previously, no nominated advisor is going to sign a new agreement with a company that is going out of business, it’s more then their reputation is worth.
Great news!!! Onwards and upwards and congrats to the people that got in yesterday.
Hopefully it means, “I can’t hold her any longer, she’s about to blow!!!!!!!!!”
Good luck tomorrow / monday guys. Well done Roy for building up that holding and please remember all, once the nomad is confirmed (and it will be confirmed) this is still just the beginning of the upwards journey. As some of you have said in the past, those who have invested sub 1p have taken all the risk... so, having taken all that risk, don’t let your shares go cheaply for a quick win. This is rock bottom pricing and still priced to fail. Please be assured, a NOMAD is not going to agree a new deal with a company who are about to go bust, confirmation should be seen as a big win for DB and hopefully demonstrate to new investors that we mean business. Good luck all.
In addition to Adams very well put synopsis of the company. I would like to remind investors and potential investors of the recently changed website which highlights the NEW managements strategy and corporate plan. This didn’t need to be changed and wouldn’t have been if this was dead and buried.
Metals Exploration`s management strategy and corporate plan is to:
* Provide shareholders with high capital growth potential, delivered by developing a mineral project into a world class mine.
* Undertake cost-effective and precise exploration on those targets most likely to deliver real shareholder wealth.
* Respect the indigenous culture of the exploration areas and to promote social and economic development for the traditional custodians.
* Maintain a "queue" of projects ranging from grass-roots exploration to advanced resource projects requiring definitive feasibility studies.
* Manage the inherent value of its portfolio by advancing short-term projects, joint venturing long-term projects requiring significant development capital, or by selling off those assets which deliver immediate value to the shareholders.
* Use financial modelling to ensure that the targets being sought are of the style to deliver a low-cost position on the production-cost curve.
* Conduct operations in a safe and environmentally responsible manner to industry best practise standards.
* Offer employment opportunities to those who live in the exploration project areas.
As they say Adam... Never look a gift horse in the mouth!!! No doubt (due to volume) Ruffers will have been given the opportunity to sit down with DB to understand the current position, his strategy and where he feels we can realistically take the mine.
Only a fool would sell out at these level.
This is priced to fail and we all know this is only going one way from here. Up
Ruffer may want out of AIM but will also be weighing up risk reward scenarios. Them not dumping and running (given their own announcements to get out of AIM) should be seen as an endorsement to the new managment team.
Nomad to be confirmed soon. GLA
Exciting times, looks like she is finally ready to blow. Big trade at the close, somebody in the know???... good luck all.
I’m with you on this one Adam. Confirmation of NOMAD means we are not going to be de-listed and our shares are not going to be significantly devalued and almost impossible to sell.
If I hadn’t been invested in MTL for 12 years and had only just come across the stock in the last few weeks due to riser and faller boards, I would be very reluctant to invest heavily in a company that has had its NOMAD resign and would most likely wait until this confirmation before jumping in.
For that reason I feel there will be many others keeping an eye on things and when this news drop, we will see a selection of new faces pumping money in and the price rising nicely.
Today we are still prices to fail within the next few weeks!!!
I for one believe the NOMAD is already done and just waiting for confirmation and a very strong days trading.