As I understand it MTR can't set up the buy-back facility whilst in a closed period. So can we assume this is the reason for the delay? If so could it just be some routine reason ( e.g.publication of periodic accounts) or is it some price sensitive information such as assay results that's holding things up? Anyone care to speculate?
Well, given he low volumes I think it is fair to say most shareholders are staying put, but we don't know whether they are clinging on by their finger nails , remain totally unconcerned or somewhere in between. I think I'm in the last category somewhere north of the midpoint!
Apologies for a dumb question but where can I find details of the AGM with the resolutions put forward for voting on? I hold relatively few shares but I'll lend my weight to any protest that larger holders wish to register. 90% down is 90% down however many shares you hold!
MTR must be well aware of the situation with all the pros and cons . However it begs the question of why would MTR be able to succeed in bringing THR's projects to fruition when THR themselves have failed, even with an MTR director on the Board. Aren't THR in much the same position as MOD were and need the same answer-a miner convinced of the value of their asset(s)to take them over with the intention of digging the stuff out of the ground.
Perhaps "revenue" isn't quite the word to use-any sort of return/good news would fit the bill. I find the RNS a bit underwhelming. I would have thought there would be some assay results by now, not just observations from visual inspection.
Well if Michael can get the bid up 2% for every £9k he spends in the buyback , I reckon with a £2m spend we'll have a bid of 6/7p. Can he spend £20m and get the bid up over the 50p mark please? (Just havin' a "larf" Fierce1!!)
No need for apologies, Gloucs. We're not far apart anyway. I am as optimistic as anyone about MTR's future with the assets it has an interest in/owns. What I'm not convinced about is the efficacy of, or indeed the necessity for, the buyback. I prefer letting the fundamental value of the company's assets, rather than market interventions, take care of the SP as the former will be more likely to provide longer lasting support than the latter, even if that means waiting a little longer for a return on my investment. If the company wants to reward investors I would prefer a dividend as my shares are all in tax exempt accounts but I appreciate that might not suit everyone.
Casey, I can imagine what will happen when MTR start buying but what will happen when the market reaches the conclusion that MTR have come to the end of their buyback exercise. I'm not convinced the rise the buyback sparks will be sustainable. If exploration drilling is successful the SP will look after itself. If drill results don't meet expectations I fear the SP will slide again and the buyback money will have achieved nothing for the company and long term investors.
I thought that price looked dubious for a sell, so the answer to my question is no, but it's still been a poor day. You have to conclude the buyback idea hasn't gone down as well as was hoped-to say the least.
RE: EGM and Share buyback ( RNS OUT)02 Oct 2019 11:31
Good morning Candybelle. We nearly moved to Northampton some years back but I couldn't tear myself away from the Black Country. Live in Stourbridge now-about as posh as the Black Country gets. Was relying on MTR to buy me a move up the social ladder! At the current rate of progress I'll be lucky if it buys me an ice cream!