Member Info for Keithb1

and let's not forget our JV with KML. No wonder bigmj is still loading up. I wish I'd got spare cash as well.

The way I look at it now is that we've got "each way" bets on a number of favoured runners in 2 different races-certainly not an all or nothing bet "on the nose" of 1 rank outsider-although that's not to say there's no chance for the latter!

Of course "the chance of finding the big one is incredibly slim" but it doesn't have to be a " big one" does it? Another T3 or T3 add ons will do nicely, wherever they're found, either by Sandfire in our former JV territory or what we now have with KML. That's what we're betting on not necessarily a "big one".

Actual spread quite tight this morning at about 2.5%. Can we read anything into that?

Yes I've noticed and also a 1m buyer most days for the last couple of weeks. Might be different people or could be someone taking advantage of the low sp to build a bigger stake

Cashking, why don't you and Lee just email each other? That way you'd each be talking to someone who agreed with you and the rest of us would be spared your never ending rubbish.

So do I and as I said earlier , I think the penny will drop with the wider audience sooner or later-I suspect sooner. Hopefully MTR will learn from MOD's mistakes and not repeat them with KML MOD did well in the early stages but seemed to get carried away with the idea of becoming a miner, rather than an explorer. MTR is an investment company and as long as they stay focussed on that (and all the time reminding themselves of MOD's mistakes) we should be OK. Exploration was and will be the key to unlocking the potential in our bit of the KCB and we're now in a much better position than 3-4 yrs ago with regard to both finance and influencing direction off effort. Just need to get the SP up short term to ward off silly offers.

especially if you've got 50,000 shares to sell apparently!

Doesn't look like we're going to hang on to much of today's initial gains, which is disappointing especially as I do agree that we are in a much better position now, just not as "better" as I think we should be. I'm sure the penny will drop eventually.

and if you apply the £5.5m valuation of our 30% to MOD's 70% (£12.7m) and deduct that from the total price of £74m for MOD you end up with £61.3m being the price paid for the T3 project. Is that a decent price? I'll leave that to those more knowledgeable than me to judge.

I think there's some confusion on this board about how this deal should be judged. Does it put MTR in a good position to develop KML and any other assets it has or might acquire in the future? Yes it of course does, but that doesn't mean a good price has been achieved for what has been disposed of. The 2 things have to be considered separately. Yes we are in a good position going forward and 1.5p/shr represents good value for new investors, but in my view we could be and should be so much better off (and the sp higher) if MOD had negotiated a decent deal . I think existing investors have been sold short.

Is there any chance that MOD shareholders will vote against the deal? It's hardly received universal approval, but I suppose with MTR's backing it as well as the MOD Board, it must be pretty much nailed on.

Well, there's a lot of water to flow under the bridge yet, so we'll have to see how this develops. Still hoping for the mackerel, or even something a damned sight bigger.

Kiwi, I agree MTR could be in someone's sights but at what price? Today's sp + 30/40% would still be decidedly underwhelming. I'd have spent 3+ years here for naff all (after averaging) and I doubt I'm the only one who would be feelin that way..

Hello Taylot. I agree with much of what you say but I still think MOD have sold out, with MTR's approval apparently, at far too low a price, unless this is a sprat to catch a mackerel of course. The only saving grace is that we can concentrate on KML but even so being relieved of further contributions to our 30% of the JV expenditure with MOD (am I right in thinking we're getting a separate £5.45m for our remaining 30% over and above the value of our MOD shares?),does not make up for selling our MOD shares at a fire sale price. I just hope the deals the directors have negotiated for themselves doesn't rub salt in the wounds of PIs, but I'm not over confident!

Clearly the wider market is less impressed than some on here. This offer just does not match a lot of people's expectations. Our share price is still on its knees and no better than it was a few days ago. So much for the "rocket", not even a sparkler-just a damp squib!

I agree 100% Lazygun. We need another bidder. This won't put a rocket under MTR's SP-more of a sparkler!!

If this is the reaction we get to "good news", I hate to think what we'll get if bad news drops on the door mat!

Just quoted 1.50 to sell on HL. Could be something going on but I'll wait for the announcement before getting excited!

Long way to go before I'll be thinking about selling, Chesh. P'raps next week!