Member Info for leehardcastle

The share price is expected to rise over the coming weeks on solid gold production numbers and better financing, share dilution is off the table, This Nomad was a replacement from a previous Nomad 2 years ago, they kept us in the dark for the last 2 years, why is it hard to use another Nomad, why wouldn’t another Nomad want our business? We will simply be appointed to another, I still it was MTL who binned them for poor performance, not the other way round

Ruffer have been quiet for a couple of days now, wonder if they are out or just waiting for the next rise?

Share price back to 0.5 bid and 0.6 ask, those flapping out this morning want their heads testing

I would say they have been let go of rather than them letting go of MTL, the facts are that a lot of information has been incorrect over the previous couple of years before DB and the Nomad who is meant to look after the shareholders clearly hasn’t done a good job of it, I don’t see this as anything but another clear out for the new start, oh, I’ve had to buy bloody more, just can’t help myself.

I have a feeling we have a plan B, the hard ball stance the major shareholders have shown the banks Is possibly just to see how much they will bend, knowing they don’t hold all the aces, if they show willing to do a decent deal, as in sensible terms and interest, then great, but if they don’t, plan B may show itself, as in a complete buy out by the major share holders, no more banks, fund it all and crack on, AAZ did this 3 years back and have cleared all debts and are producing vast profits and a 7% dividend, Im confident DB has had this assurance before taking the position, I can’t see him gambling his future, held to ransom by banks, just a thought

MTL is off most people’s radar, the day traders come and go on the days around the rapid movements as we either hit the biggest gainers or losers boards, but the long term holders have been buying Ruffers shares for weeks now, I think most have their positions already, so volumes will remain low till the news comes in, it’s tempting to keep buying but I have spent all I can comfortably afford, if I had more cash I would be taking more at these crazy levels, but I’m comfortable with 3 million, some have 10 million, to think, that cost £500000 only 27 months back, when we was just starting to ramp up production, but progress was scuppered by poor implementation of the equipment, but I have a real good feeling the new team have got to grips with it now, as you say, not long to find out for certain, Share Phrophets seemed to have a little insider info on that score, and Darren Bowden is very experienced, it’s a bit like a car running on 3 cylinders, the car runs like shit, and your wondering what’s causing the issue, but you limp on, until a savvy mechanic finds cylinder 4 plug lead is open circuit, quick repair, full powers back, experience is key, and our new team have brought that with them. GLA

$1300, every little helps

Agree 100% with all the points mentioned, the share price being decimated has been a two edged sword, one edge has prevented share dilution as raising money from a sub penny share isn’t possible, especially when the two major shareholders (65.1%) would never agree on that, imagine what they have invested in those 1.3 billion shares, no way would the decimate the value by releasing billions more, so the banks will understand that, I would even go as far as to say they had the survey done on past performance to spook the share price lower, now the other side of the sword, a sub penny share price is an opportune moment for those who can read between the lines to build a serious holding for peanuts, most looking in with fresh eyes are most likely put off by the share price, it makes us look like a basket case, hence why new blood may take a while to pile in, most want to see momentum upwards to give them a little confidence, so when we receive the news on solid profits from gold sales and sensible loan repayments, then upwards momentum will be rapid, the timing should be great as the heavy selling from Ruffer will be out of the equation by then, March 2019 will be the fulcrum, so fill your boots whilst you can if you believe we’re too big, too heavily invested, too savvy to go under, with Billionaire major investors and our new successful/proven top management and engineers.
Once in a life time IMHO

Taken another load, thank you

The new terms were pointless, they wanted $20 million equity and a $15.5 million payment, total $35.5 million by the end of March, if MTL didn’t raise the $20 million equity, then we would stick to the old senior loans terms and expect a payment of $35.14 million due end of March, so what where they offering? Nothing, they simply wished to be back on target, that’s just not possible when you have had the previous 2 years slow gold production, the banks need to draw a line and start a new sensible payments plan and forget the past, I think they will see sense and accept the $15.5 first payment without the silly equity demand, time will tell as usual, but the banks really haven’t much power in this case, they don’t want a mine they can’t operate or sell to another party, we can thank the Philippines governments and their rules for that, the major shareholders new this well enough to deny the new terms, I know they have every intent to carry things forward in a manner that’s achievable, all will pan out just fine, GLA

Share Phrophets seem to be on the ball, they said that the terms was a negotiating position, and that’s 100% correct, so I’m assuming the gold production numbers are pretty factual too, 6500 tonnes of ore processing daily and flotation performance improved.

Well I was saying this morning, there’s no way we’re doing a rights issue, so now that’s out there, the banks need to get real, the ball is back in there court, why is it so hard to accept the payments as planned, it’s just 7 payments, job done, they were making demands that were never realistic, and unnecessary, the 1st payment of $15.5 million will leave them just $47.8 over 21 months, for a mine that’s designed to make $60 million per year clear of costs, they could get it back in 12 months, no way will they risk losing $63 million, they have to accept they aren’t in a position to take over the mine, so common sense will prevail, take the 1st payment and stick to the rest of the agreement, just drop the equity part of the deal, simple

You can see Ruffer sells, very few are private, it’s a golden opportunity, so don’t despair troops, it’s very temporary, I wish they had dumped in one go, they have dragged it out, and I understand why, I reckon the way they have dripped selling they will have averaged 1p where as the Xmas seller got 0.3p for dumping in one lump.
I still think we won’t raise any finance, mainly because any raised will go into an account, only to be taken by the banks as part of the new scheduling (excess of $6 million in the account to be taken to speed up repayment of senior loan) so it’s not at any advantage to the major shareholders, I do believe they will make the payment of $15.5 billion due in less than 4 weeks, by gold sales and any short fall as an addition to the Mezzanine loan, that’s the best solution for all, the major shareholders and us PIs don’t get diluted, the banks get their 1st payment, the major shareholders get paid after the banks loan is cleared.
Time will tell, rights issue is off the cards, simply would have been announced weeks back, Darren Bowden is only concerned with reaching design production, the finance creases will iron out with gold created cash, it’s really that simple in my view, as always, I’m super confident for the future. GLA

Gold price is still $100 higher than it was 6 months ago, still pretty strong, but reckon it’s a lot higher to come this year, and that helps a huge amount to margins

Without the pressure of Ruffer.we would be back over 2p in a flash, NAv is 5p

Even if you take off debts of $100 million of the $250 million invested, you have $150 million worth of investment paid for, and we have a market cap of $14 million, that's less than a tenth of the investment, crazy but true, a working gold mine.

they have around 8 years remaining of proven resources at the rate of 100K ounces gold recovery per year ($130 million @ $1300/ounce) multiply by 8 years is $1.04 billion, plus they own the adjacent lands that are yet to be valued.

Still selling, you can tell by the round numbers, they cant have many left, its been relentless bar a day or two.

Raising equity, not rising equity, big fingers, oh, watching carefullly as I still fancy another million, but if I don’t get them, I’m very happy with 3 million, 0.15% of the company :-) A producing gold mine, not one day, now, market cap £14 million, crazy but true, 1 biiion gold in the ground proven and god knows how much more to go at, yet to be assessed but owned by MTL.

Raising equity, not rising equity, big fingers, oh, watching carefullly as I still fancy another million, but if I don’t get them, I’m very happy with 3 million, 0.15% of the company :-) A producing gold mine, not one day, now, market cap £14 million, crazy but true, 1 biiion gold in the ground proven and god knows how much more to go at, yet to be assessed but owned by MTL.