Member Info for leehardcastle

Day traders traded AAZ but it never stopped it recovering from 4p to 96p in 3 years, the business finds its value on production, AAZ looked like finance was going to kill the project, hence the drop from 125p to 4p, but they worked around the funding issues, produced the gold, paid of the debts and 3 years from the low, they hit 96p and are paying 6% dividend, there are a few holders on the chat sites that have held the whole journey, wise investors.

We had the same last time we rose on great news, day traders getting out, investors getting in, this RNS confirms that the banks cannot close us down without burning their fingers, they have to work with us, we tested their metal and they have blinked first, not long to get the quarter gold results, the banks will be using these to set the repayments that fit the mines output, another step closer to a solid business.
I’m betting on 20k ounces, 80% efficiency, other predictions please

We need 12.5k ounces gold sales to break even with costs, that’s why last year we made losses, as costs were higher because of the poor efficiency and only making half the gold we are designed to produce, we need to be at 75% and above (18k ounces) with better efficiency to prove the mines able to repay the loans, 18k ounces is $23.5 million before mine operation costs circa $15 million based on last years costs, that’s $8.5 million profit, which shows potential to handle the debts, any less and I would be worried, but I’m confident we’re at or above those figures going by recent statements made by DB, the website and the Share Phrophets article, who mention huge ammounts of gold rich earth being put through the processing plant (6500 tonnes per day)

65% was the figure quoted by DB, he said the mine had reached that efficieny at the end of December 2018, we actually produced nearly 14k ounces that quarter, as we sold 11k ounces and held back 3k ounces, to we achieved 58% over that 3 month period, to go from 65% to 80% this quarter, and 80% from April to 10O% by the end of June is the target, can we do it? Hell yes!

Looking through some old RNS, the shares in issue where approx 270 million in June 2010 when Solomon Capital (one of the Candy brothers) offered 13p a Share, to buy out the rest of the shares he didn’t have, that valued the company at $35.7 million market cap, more than double what it is now, at that point we had the Phillipine licences to do the project and the grounds, with estimates that the cost to build the mine would be $150 million, I’m assuming we released shares at intervals to raise the capital required to build the mine, as well as borrowing $81 million from the banks, we now have 2007 million shares @ 0.8p so a market cap of $16 million, with around $104 million in loans, less current assets (cash in bank, unsold gold, and this quarters gold production) I’m estimating we have about $16 to $17million in hand at 31st March 2019, my figures are based on (31st December 2018 we had $1.7 million cash, $3.9 million unsold gold) and at 80% efficiency production of 20k ounces gold this quarter represents $11 million profit after $15 million costs, so $1.7 + $3.9 + $11 = $16.6 million.
So I think we have less than $90 milllion to pay off all debts, or 1.5 years gold profits at 100% nameplate design production.
I’m a numbers guy, it’s how I get a picture for the business, new investors can see the state of play, shares at 2007 million are now safe, no more required, no more dilution, we have refused to go down that route, fine when you have no income and it’s a necessity to keep a business going through the early stages, but we are making our own revenue, I’m guessing 20k ounces of gold this quarter, only 3 to 4 weeks to find out for sure on that score.
$250 miilion outlay, $90 million deficits to find, $1 billion gold to extract, same again to JORC up, 40 years mining licence remaining, 100% owned by MTL.

Nomad has to announced within the next 2 weeks and production updates are around the 25th of April if they stick to the standard timeframes, so much happening this April, will be a gamechanging month if our instincts are right.

Just the start, Monday will repeat

Last chance for sub 1 p

It’s 72% big investors who hold shares, silly statement, PIs are a small percentage, 5p by end of year, long term investors have simply added to their total, Monday will be another blue 70% day, have a nice weekend

I grabbed 100k only at 0.45p, crazy, but better than none, we did say 0.5p was cheap, holding out for lower can leave you out in the cold, 0.785 on the ask now

Good news

Exactly as expected, as I said yesterday, don’t panic, as a pound to a penny we will have the standstill on Monday, and a breather to sort out a payment plan, oh and I’ve had another 100k shares, can’t resist

I agree it’s not ideal to have the word default used again, but it’s a word that has to be used to progress, we’ve had it once this year and we are still her making gold, so the same will happen again, except now we have a different outlook as long as the gold production is as Share Phrophets describes, DB had to have at least a quarter period to have a number he can prove he can pay, as 2017 and 2018 gold numbers couldn’t, the banks are rightly worried, so was MTL and that’s why we have a new team, as I said don’t panic, MMs may play with the share price, but it will not change the outcome if you stand strong, I know people will add to their holding if the opportunity arises, me too.

Thank you, doesn’t mention ”Investec”any more, they had a holding, Ruffers holding may be a lot lower than that as they might not have updated the market with the recent selling and current position yet, those may be the last figures on record and given to the new NOMAD

Hi Goshawk, the link doesn’t open, what dates were those figures? Cheers

Thinking about the payment due on the 29th March, as we have refused to raise the equity demand, then it’s 100% certain we aren’t going to accept the new senior loan terms, so we revert to the original senior loan terms where a payment of $41 million (made up of the 4 past unpaid quarterly payments and the one due) is due on the 31st March, which we know for a fact we don’t have in hand, so I’m expecting an RNS saying after the 31st we didn’t pay and are in default with the banks, don’t panic, that’s a fact and they have to state it, we may make a statement like we’re in further discussions, where the banks see reality and we get a new payment plan, maybe a week later, so I will be surprised to see any RNS this week, if they do, it will be to say we haven’t accepted the new senior loan payment plans.
I suppose what I’m saying is DONT panic, it’s all part of the negotiations that DB has to make, remember that the banks want their money back, so they will have to play ball with us, I’m really confident DB has new production levels to show the banks in his discussions, his new website pages hints at that, I see a resolution to the senior debts in 1 to 2 weeks time, so patience is still required, DB may have a plan B that he has up his sleeve and involves a new method around the banks, who knows, he has serious connections,,and we have an amazing asset. Keep your nerve boys and girls, we have a couple of bumps in the road to cross before we have a clear run to success. GLA

Don’t you think the timing of the updated website is a clue as to how things are going on in the background, the statements of shareholder value and selling assets are very telling, DB would look a fool to make statements a few weeks before disaster, so I’m taking it he’s confident with progress, and we will know in an RNS or two, very soon, if you haven’t had a look yet? Do so, it’s very confident wording

Just to put you at ease, MTL have had to jump through 100s of hoops to get the project to this stage, it’s been a maze of red tape since day 1, licences, finance, infrastructure and green issues have been successfully dealt with along the 15 year journey, what’s so hard about appointing a NOMAD, we pay them for their services, and there are 20 to chose from that advertise mining experience, it’s 1000% not an issue, as mentioned in the last RNS, we are in advanced discussions with a new NOMAD, advanced means they have an interested company and are sorting out the contract, Cannacord are still in control and will release control at the end of their contract date, where the new NOMAD will start from.

A fresh start for 2019, out with the old practices and in with the new, efficient, bet the new NOMAD will be cheaper as well, Cannacord will have been expensive, just like the old management, every $ counts when your paying off debts.

Buys still 2 to 1 sells today, can’t see you getting your opportunity, they get snapped up when they hit anything next to 0.5p, news on Friday at the latest, good luck