Well, we are still running and selling at the moment, we are just like every single business on the planet in this crises, struggling with the aftermath of lockdowns and the break in the chains that creates, fingers crossed we can carry on producing gold and selling it without hinderance, this virus and it’s restrictions will last 3 months at least, thankfully our staff look to be safe with the remote location.
$1628 again, Margin calls caused the blip down, but it’s in demand again, I know it doesn’t make much difference to us now, but the profits in the back ground should be flying high, and the value of our company goes hand in hand, when we find the path to resume normal trading, its all going to help, keep isolated and safe, money has no value without your health.
Roy’s rather chatty today, I agree Edwards sounds like he’s the rational one in this matter, I think he’s against D4E releasing billions of shares that will automatically raise the Candy brother 46% to over 50% equity and thus too much control, if we really need to reduce the loan size, then a share placing would be the way forward, as it doesn’t change the percentages, and we all benefit from extra shares at whatever price is declared, I’m wondering if that’s what the disagreement is all about, if it is, then there is a stalemate, who will bend? this won’t be effecting production and I wish we would at least start paying the interest, we did that in the past, when we first stopped making the bank payments years back, MTL are certainly making enough cash.
The upside is we have at least avoided the market bloodbath, without the suspension I think we would have had a sell off, AAZ have been battered, and they are debt free.
I hope your treatments pay dividend Roy, all the best from us all I’m sure, as you say, perspectives, without your health, wealth has little meaning.
Great posts and a fantastic response to our predicament, I think DB has a moral integrity, and endeavours to find a way to continue, with all investors interests met, I do think the share was suspended because of our posts and comms over the weekend, It will have been instructed by him on Monday, he has access to the negotiations and probably can’t believe himself what’s happening with the financial side, he’s doing his bit, the mine is turning around as promised, the financiers just need to find a solution between themselves, and one that doesn’t rip apart the common interested parties, as there really isn’t any need.
It does sound like the suspension of the share is to protect its value whilst the discussions go on, Its only rumour, but it could be Edwards who’s actually on our side, as in not wanting to take the company over, the two major shareholders and MTL PLC can’t find an agreement that fits everyone’s agenda, so we have to sit and wait, and hope they find a middle ground, in the past I have said that the licences where granted to MTL PLC and that they could not be sold on, so that may be an issue that protects us from a hostile takeover, it’s got to be run by MTL PLC and the major shareholders have to remain just shareholders, let’s hope they come to an agreement that’s benefits everyone.
Lee has no answer to this one, will have to wait to see what is offered, looks like the major shareholders that looked like our saviours over the last 2 years, with common interest are wanting it all, what the pay for it is anyone’s guess, all you can do is wait for another RNS, sad day for all.
I think we forget that MTL PLC have a say in what happens to their company, when the banks sold the debt to the major shareholders, the banks released all legal holding they had on the company in return for $65 million or less, so the major shareholders take a legal holding instead, that can only be done if you know what the terms are, the amounts and Interest rates had to be agreed to before MTL PLC would allow a legal holding on their company, a contract written by both parties, MTL PLC and the major shareholders has to have the fine details in it, so what are we actually negotiating, the deal is already done, it was done when the banks were paid off, DB announced that it was good news and that he could then concentrate on production, he must have had privy to the deal, no mention of shafting shareholders, MTL PLC are responsible for paying back the debts, they had to sign an agreement to what those debts are, you can’t do that if you haven’t got the terms written in a legal contract.
We are already sustainable, $1670 gold has given us that, at $1200 we wasn’t, fact, but we are now.
How many times do I have to say this....the major shareholders do not have enough shares to push through a D4E without agreement totalling 75% of the existing shareholdings, that’s the point, the 34% not in there hands will not agree to being diluted to hell, so unless the deal is sensible, and benefits all, it won’t happen, those saying they will have over 75% with a D4E deal also are pointing out another reason why they won’t get enough support to push it through, no PI will support it, baker steel and other institutions won’t support it, and I stick to that rational as to why it won’t happen, Volmer, you say I’m misleading, I’m stating valid facts, and how democracy works in business, time will tell, I really couldn’t care how low this goes, because I will buy all the way, but those selling me their shares cheaply may care dearly later on.
Gav, I don’t trust the major shareholders intentions, they have in the past wanted to own the whole company, they made an offer of 13p a share before, it was rejected, and it’s obvious they still want it now, I have not changed my view on the fact that I can’t see that becoming a reality, because they don’t have enough shares to force any kind of deal through, 34% of shares are/were not in their hands, so a deal that is one sided for them can’t be pushed through on their decision, but, if the D4E hint was an intent to ignite vast selling, it worked, not because they can or actually want to do a D4E, but because it creates a cheap way to obtain others holdings, or give them a lower base to make a lower business purchase offer.
If a report of potential of suspicious behaviour/abuse was filed with the authorities, it may just stop further underhand tactics, a warning that they are being watched, the thing to remember is that the billionaire investors (Major shareholders) want the whole company to them selves, it hammers home just what we have our money tied into, they want 100% of a huge cash generating machine, that’s simply at the starting line, decades of extremely high value gold in the ground, as long as we aren’t shaken off early by underhand tactics, fear, then we will have to be offered true value to be bribed off this train, or simply to leave as is and let it grow to it’s potential, with long suffering PIs to get the rewards that will come with success.
I still say a D4E is not going to happen, firstly, because we really don’t need it to lower the loan amount, if the interest is set to a similar value we had with the old bank loans, interest of 8% will be easily payable, lets not forget, $100 dollar increase in Gold value actually covers the total annual interest charges, and we have seen $350 dollar increase very recently, that has changed our position in its own right, let alone the fact that DB is improving efficiency, with CAPEX costs set to reduce in the next few quarters, we can actually generate $40 million clear this year, Plus the $5 million banked at Q4 on top, its clear we can make the sums add up, I also bet gold will only rise further this year, the virus is here for a while, and the chance of recession globally is a real risk, this will only help MTLs journey further, oil prices have plummeted, imagine the savings that has on our mining costs, it all all up to a brilliant year ahead, I would say with 100% conviction this is a buying opportunity for those who can see the whole picture, one thing for sure, it’s not a time to sell.
Please do Grocer, the recent trading does look out of sync, and the hint of a D4E started the panic, when the share price was 1.5p and above a mention of a share offer at that price would have been welcome by all, IF the sustainability really was in question, but hinting at a D4E has caused huge uncertainty, no real surprise, and hinting seems odd, the Q4 results were great, and without the hint, we would have rallied higher, the only persons not to benefit from that would be the major shareholders looking to buy us out on the cheap, I hope Darren Bowden hasn’t been part of a suspicious tactic, I hope has had just not thought of the consequences short term.
If you have the knowledge and skills to do it, it may prevent a underhand tactic progress, we as long term holders deserve our day, it’s clear the company is growing stronger by the month, and yet the clouds hang over what should be a time to celebrate, please put pen to paper.