Member Info for leehardcastle

Solid few weeks recently, support at buying over 0.8p without an update seems to be strong, and rightly so, we have had the majority of questions answered since DB has taken the helm, he’s pushed out the previous team who clearly couldn’t find the answers to getting a profit from production, we have had our first profitable quarter that proved we can make positive cash flows, $3 million is just the start, he’s got experts in place to fine tune the system, so we can expect higher efficiency in the short term, the banks have had the sense to stop the pressure with demands, and this last 2 months has given DB time to prove to the banks their money is loaned to a professional business with a very bright future, what’s not to like and support? New terms are coming, when they arrive, watch new money flood in, not long to wait, any day the news will drop.

Hi Roy, gold dore is the small gold particles produced by the processing plant melted into a large nugget, it can be pretty pure as they can remove most of the silver when melting it down, it has other impurities and chemicals used in the gold recovery so it’s never 100% gold, all mines take their rough gold (dore) to refineries who make them in to pure gold bars, it’s more likely 95 to 99% gold and the rest small amounts of silver and chemicals.

Ruffer or a PI losing nerve, the fact the MM will take big volumes at 0.7p shows they wants your shares, collecting for good news, if those hoping for a cheaper entry wait too long the train may leave without you, remember, the refinance news is huge news, it’s months of reviewing the company, the banks have not closed us down as some had fretted over, and we have managed to show positive cash flow and an increasing gold recovery trend, the banks know now they will get their money back, DB will know what we can churn out and the payments will reflect it, waiting for the printed copy will see a much higher entry point, hence why I’m still collecting shares at these crazy prices, the refinance news is the last hurdle, and it’s one we will get past, that’s a cert for me, the banks have to play ball, and why wouldn’t they when we have all ready proven we can actually make money, the drop in share price has made no sense when the string of news since Christmas has been nothing but positive, hence why so many PIs have mopped up huge numbers of shares and holding fast, those trading have faired better so far, but as I have said before, that style lose out in the long run, I know I have with others in the past, AAZ holders has seen 4p a share and most would have sold at 8p or 12p or those who thought they had struck the jackpot at 16p, they all lost out as she kept going to 96p over the next 3 years and those who held fast and waited, doing nothing 24 folded their 4p investment and are receiving a around 4p a year dividend, MTL at under a penny is the same story playing out, 3 years from here we have the same chance to be bank debt free, paying a dividend and I’m waiting for that day.

XTR you thought that last time we was at 0.5p and you wanted 0.3 or 0.4p, you never got it as news sent it back to 0.8p, caught you napping, reckon it may happen to you again, good luck

The standstill was extended, because a decision hadn’t been made or agreed to, so an agreement can come at any point in time, waiting for a lower share price had caught many out before, news on the refinance is due and nobody knows what day they will release it, I hope DB throws a curve ball and releases it sooner than later, it would be good to have a flow of news that’s not timed, as investors would be less confident to jump out and in, I know when your onto a good thing it pays dividend to simply hold, I have tried in the past with other shares, KAZ being one of them, thought I could time my buys and sells and got left behind, waiting for a re-entry and watched it sail away, not letting this one sail away without being onboard, holding tight, I’m still happy with the Share Phrophets snippet on MTL, “Catch a falling star and put it in their pocket”

Because you can see a bargain like the rest of us Roy, I can’t see much selling from here, it’s priced to buy, and recent falls are overdone, we are making positive cash flows for the first time in this 15 year journey and our management is showing to be extremely capable to carry on the progress, when the finance deal is in black and white, which can come any day, then the risk here will have evaporated, the only question then will be how much gold can this protect make per quarter? 15k ounces last results, 25k ounces is the goal, any number between those figures is welcome, 2019 will see huge progress, I have no doubts.

Well I couldn’t resist, another 100k for me, still can’t believe I can buy at these levels, crazy, I will continue to collect at every opportunity, recovery is underway and the share price is simply lagging, but it will catch up this year at some point, it’s inevitable, gold prices looking strong, all helps the banks confidence to set us decent terms

One point I was making, if it takes us 2 to 3 years to clear our debts, and we have only 4 years of resources remaining, we have the same luxury that AAZ have, huge resources we own 100% already that just require proving up, this means we have decades of gold to go at, so waiting a little longer to settle debts isn’t going to effect the longer term future value, even if it’s effecting our current one.

Looking at the medium term position from here, and reading into the detail of the latest results, it’s most likely we will have a little down time sorting out the plumbing, so we may only get 12 weeks out of 13 in the next quarter, but efficiency of 66% being the best ever is a decent platform to hit 75% or more in the coming months, assuming all bugs with the plumbing and plant are sorted then Q3 or 6 months time, will be most likely the time we can get 13 weeks out of 13 weeks production at above 80%, remember 90% efficiency is the design goal.
So as we made a few million clear profit this quarter, a first for us, then even 6 million clear for Q2 and 9 million for Q3 would be highly welcome in showing natural progression for the company, AAZ took 3 years to clear the debts and its only left them around 4 years of mine life with the original proven resources, but the share price has still 20 folded from the lows, why? Because they have huge resources to prove up that will extend the mine life by multiples of the 4 years they currently have, so the share price reflects the future growth.
Our share price hasn’t as yet caught up with the potential in MTL, but I still see it as an opportunity to increase my holdings beyond the 3.2 million I hold now, I expect to keep buying a £1000 a month until the time where we see sensible values of 3p and above, for where we are at in this journey, it puzzles me how you value a company at less than 3 months turn over, good for me I suppose, because the recovery has started and the share price doesn’t know it.
Keep the faith everyone, the tide will turn this year, DB is looking extremely capable, it will be spelt out at some point in the next 6 months, don’t miss out with impatience.

The detail in the RNS was leagues above what we have had in the past with the old CEO, it’s great to understand the challenges ahead, the fact they recognise the reasons for the efficiency issues gives you confidence they can iron them out, I think the market maker set yesterday’s opening price low to capitalise on the results being mixed, some bad news and disappointing elements sprinkled amongst some great news, which was lost at first sight, the biggest headline for us PIs and the for the banks is that we generated a positive cash flow for the first time in 15 years, the banks can now see we are able to repay the loan, we are past additional borrowing, it’s now proven we can reduce the
debts, even with only 11 weeks production, we reduced expenses and raised $20 million in gold sales, definitely a turning point, the banks should be very happy, and new repayment terms will be easier to set from these results.

When we had a share value of 5p a Director purchased £250000 worth of shares, and we hadn’t made a bean in gold, we had just started up the plant with an $81 million new senior loan, that was a company market cap of $100 million making no income, 2 years and 3 months later we now make $20 million income from gold production in 3 months and our market cap is $17 million, how is that logical? We are so cheap it’s ridiculous, and buying at recent prices is a gift, a recovery is coming, DB and his team are working through the bugs, hold and add, I’m expecting Share Phrophets will have his view on this update, and I reckon he will spell it out too.

Goshawk, great points made there, as you say, our costs have reduced to sensible levels and that’s key as we go forward, and why we managed to make positive cash reserves, without additional borrowings, that is a first and should be taken as extremely encouraging, although the pace of recovery is taking longer than hoped, it’s certainly recovering, and that’s very comforting.

You can see that if we hadn’t lost those 2 weeks to mechanical failure the results would have been very different, 11 weeks production for 15k ounces, 13 weeks would have been 18k ounces had that single fault not occurred, so the mine is nearer track than it looks.

Viveka wins the Golden Nugget Award, his estimate of 16k ounces was the closest, well done Viveka,,I’m disappointed with the gold output, who isn’t, but I’m happy with the managements dealings of the issues, still debugging mechanical issues, but nothing has changed the longer term picture, I reckon DB will have Q3 in his sights to reach nameplate instead of Q2, He knows what’s required and will get the job done, debugging issue by issue, hold and load is still my honest opinion, keep your eyes on the goal, patience required as usual.

Hopefully it’s tomorrow, but it could come any day this week, this week is going to transform us, I feel we’re about to get the gold numbers we have all been waiting for over 2 years, and if so, the finance will not be an issue, the banks and major shareholders will breath a huge sigh of relief, where that values the share price is any ones guess, good numbers will nail this companies future, it will assure us we can make money, and that my friends is what the whole project was about.

I meant 23k ounces @ 1300 per ounce sold which equates to $29.9 million income, have a great Easter break everyone

The previous 6 months total costs were $6 million per month, that included high interest payments, fleet servicing, infrastructure improvements, inefficient production, high wages, so I’m hoping these costs have reduced to $5 million per month for the last 3 months with our new management, with 20k ounces gold production, 3k ounces stored from the previous quarter, I’m hoping for $23k sold @ $1300

Excellent, getting a picture of our expectations, to the nearest 0.25k ounces for those who are really confident of nailing it perfectly, keep em coming, don’t miss out on the “Golden Nugget Award” good luck!

I’ve said 20k ounces, nearest estimate wins the golden nugget award, place your bets asap before the RSN

Bye bye sub penny shares, we ain’t ever seeing that again, today was the last call for that crazy position, upwards and onwards.