Member Info for Keithb1

Jumping in with both feet....or just moving some shares around?

Which one will we be rid of first?

....start to the day. Volume not huge but at least the deals are buys, divi coming our way shortly from SFR.

May be gaining a bit of momentum now. I'm still intrigued as to why the buy back hasn't restarted. Perhaps the Board feels there's enough going for the SP now for it to make its own way forward. or perhaps there's another deal in the pipeline and close to fruition keeping us in a closed period. I'm still to be convinced that a run of the mill investment in another company puts us in a closed period so I'm wondering, if we are in a closed period, whether there's something bigger brewing, although I couldn't guess at just what that might be.

Any thoughts anyone.

thrilling week in prospect?

Illaquens, I entirely agree about how MTR should use their cash-far better to invest it in new ventures-but I think they've created an expectation of buying <10% of shares in issue and they at least need to deal with that expectation if they're not going through with it. As for KML I thought there were assay results in the pipeline but I could be wrong I suppose.

HeidHoncho, I accept that being in a closed period means MTR can't instruct Arden to continue the buy back but I'm having difficulty with the idea that MTR carrying out their normal activity-investing in other companies-puts them in a closed period . It boils down to what constitutes a "closed period" and having had considerable experience of trying to make sense of the FSA's (as it was called then) rulebook, (but practically no experience of anything to do with the Market Abuse bit) I'm not about to start trying to decipher the FCA's. I'd rather walk over a bed of hot coals.

So, does an investment company enter into a closed period each time it invests in another company?

No idea, TF!, but i'd have thought we should've heard something about the next phase of the buy back by now. If that's had to stop because of a closed period, then what could be the reason? We must be due some assay results re KML surely but I can't think of anything else. We could certainly do with something to get us going in the here and now. It's all very well putting money into new investments but it's anybody's guess when they feed into the SP and I for 1 am not getting any younger. The Board obviously have a lot of faith in KML. but unless we get another rabbit pulled out of the corporate hat soon, we could well drift lower and after the excitement over the IC article that would be very hard to take.

Clever little critters, those moths!

Are they waiting to see us back at 1.2/1.3 before sanctioning another tranche of buy back cash?

Is it the IC article still driving this or is there something else we don't know about yet? If so what?

Good morning all.

Illaquens, I think Lazygun is right.

They must have sold the original 113m. If you look at the RNS I referred to you'll see the figures I quoted

The figure used by IC in their article is 9m shares which agrees with the figure shown in the unaudited accts RNS issued by MTR in September last year, so a bit less than 113m I'm afraid. 8.1m warrants looks right according to that RNS and at todays GGP bid-4.35p- those warrants are approx. £150k in profit.

Feeling better now, DP?

Don't despair, Don'tpanick. I still think we'll make money here but it's going to take a bit longer than we thought. Things are looking bleak at the moment but we have some great assets (as well as some carp left over from yesteryear!) and in a few months time the situation could look a whole better. The problem is most aim investors want almost instant returns-like MTR gave us the chance of in spring 2016, if we'd had the sense to take 'em and walk away. But we've now got a second chance and we're actually better placed now than we were then with more promising investments and better funded with cash/a liquid asset available. And we're able to learn from the MOD experience.

As a Baggies fan you must know how to cope with disappointment, so put that experience to good use here and look forward to the glory days returning again.

There's a post on the ADFN board by "Charaxes1" suggesting MTR are waiting for the SFR price to improve before drawing down further funds for the buy back. Does that make sense? If so we could be in for a bit of a wait!

Many times, DP. If you ask the right questions in the right way you will get to the truth.

As far as I'm concerned bigmj has cleared up any mystery that might have existed. TG and bigmj account for almost half of the Black Star shares and I don't think for a minute they'll be parting with them any time soon. I doubt the remaining 11m shares are responsible for the SP slide even if they have been sold, and we don't know whether they have or not. If anyone still thinks there's been some skulduggery on the part of the Board of MTR perhaps they should email the company and ask some very direct questions.

What I still find strange is Arden's buying , at least the recent deals, has been done at or very close to the relevant "bid" price. How and indeed why did they do that? I still believe that is what has undermined the SP which was entirely foreseeable. I doubt they've saved MTR sufficient cash to justify what they've done to the SP.
Having said all of the above I am also very P'd off at the SP at the moment and I do think the BoD should somehow let us know what they think is going on or do whatever they can PDQ to get the SP to a sensible level

A search on the internet reveals(assuming it's right!) that TG was a director and founder member of black Star owning 15% of the shares . The same note refers to Black Star 's 19m shares in Mtr , amounting to almost 11% of MTR's issued shares. Perhaps Black Star were an early investor in MTR and as it is now a dormant company the recent distribution of MTR shares is just a tidying up exercise prior to winding up the company. If Black Star was an early investor it could be that the current SP is in excess of what they put in originally. However the distributed shares, less TG's would amount to approx. 17m, so even if they've all been sold it would not account for all those traded during the BB.