RE: Mining maven podcast with CEO of mtr30 Jun 2019 10:04
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.
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.
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!
Dontpanick, I suspect you and I have more in common than just our allegiance to the Baggies. My loss to date is much the same as yours and I probably started buying at a similar price and time to you. We probably have a similar number of shares. I have "down in the dumps" days as well but overall I remain confident that we shall see some very worthwhile gains here in the not too distant future. We just have to be even more patient, but it is bl**dy frustrating and annoying at the moment.