Member Info for leehardcastle

The share price has been coiled like a spring for the last 6 months, the energy trying to take it higher is there, it really is, with every drop it gets bought back, until a level is reached and heavy selling continues, that’s been the 15p line.

As mentioned Jim Mellon has been the largest culprit, 100s of million of shares, which he admits he has sold, then we all know Condor holders had been selling their new shares on day one in massive numbers, and that’s had a major effect too, massive buying from Drachs blew us higher and we know she’s obtained 100s of millions of shares.

Now that Mellon has ceased, and most PIs are in at higher prices, the consolidation is done, we will react more inline with the fundamentals, which I have pointed out are really good today, but are exceptional later this year.

La India is huge, and fingers crossed, Dupax follows in line, we know we are silly cheap, so let’s be patient and the market should now catch up, which it will.

Ortega was asked to release around 60 prisoners who Trump claims were unfairly imprisoned, Ortega does it, I’m struggling to see a the problem?

The whole world is currently jumping to his demands, because the whole world is scared of him, he’s unpredictable, so Ortega plays ball, Trumps ego grows ever bigger and the status quo carries on.

Dictumdedicto…….your obsessed with the gold price:

But your bang on 👌

What I don’t post is the day to day share price, it’s up a penny, it’s down a penny, because it matters not one jot unless your wanting to buy or sell, when it’s down I buy, when it’s up I hold, because we’re an acorn in comparison to where this company is going, I’m interested in the oak tree.

Why has the share price not moved, can’t you understand that 900 million shares were handed to brand new MTL investors in January 2025, those who had sat on paper losses for many years, they took advantage of the price rise and have exited, Jim Mellon will be the largest offender, so the head wind has been all year, Drachs was the main driver taking us to 16p as CuckoldKing mentioned, when that balances out, and those invested have longer term plans, then the shareprice will rise and stay up.

I get cheesed to hell about the shareprice chatter, it’s a number that floats about and unless your exiting doesn’t make any difference, the company growth, the price of gold, the acquisition's is all I’m interested in, but you focus on the number 14p….unhappy…..16p…..ok…..18p I’m happy, grow up is my last advice to you.

$2682 was the closing price of gold on the 15th Jan 2025 which was the day Condor Gold became a part of MTL.

So we can enjoy the first anniversary of our collaboration in a few days.

Now on that day the numbers you could crunch from

MTLs assessment was 145k ounce average production using a 1.4 mta throughput for 12.4 years, initial AISC of around a $1000 per ounce.

$2682 less $1000 is $1682 FCF

Move onto today and we are over 50% closer to initial production, $4506 gold price this weekend, less $1000 AISC is $3506 FCF

That’s more than doubled the incomes, yet now we look to be increasing throughput to 1.8 mta, and that increases overall FCF by another 25 to 30%

How can anyone not find that a stunning situation for investors ahead?

Enjoy your weekend

What’s pointless?

Is gold not $4500 today already?

Has the AISC not been mentioned at $900 to $1000 by Darren Bowden?

Has the processing plant not been already upgraded to 1.8 mta capacity?

Has La India’s gold grades not already been mapped out?

How else do you work out anything if not with what facts and figures you have in front of you, the negativity astounds me recently, it’s about time some realised the effect a gold price has on our future, anything you was interested in a year ago has now doubled in value, the incomes streams have doubled, I’m trying to get that point into some seriously negative posters.

We are sat on a physical money printing machine, and the world is waking up to physical commodities, paper investments are empty nothings, you can’t build a world with numbers on a screen.

I don’t think we will be worried about the gold dore price, spot gold will be $5k before La India pours an ounce.

$630 million

Just using the numbers Darren Bowden has suggested, initially he mentioned and expects 140-145k ounces gold sales from 1.4 mta, so adding another 0.4 mta throughput with the upgrades in place gives you around 180k ounces gold.

180k ounces x ($4500 per ounce less $1000 AISC per ounce) = $630k per annum FCF

Excuse my other typos, of which I have found many, must read before posting… sorry.

Typo: delays suffered in Q3 2025 (not 2026)

Bang on with the 180k ounce LiqMyAce, that’s what I worked it out at when I heard it on a video many months back, at that point in time it was a suggestion, now Darren’s already upgraded the processing plant and has actually made it a reality.

I think it’s sometimes underestimated the scale of La India potential incomes, it’s income streams at $4500 gold are absolutely massive, if the ramp up to 180k ounces is achieved we are talking $630 million annual FCF at $1000 AISC (AISC quoted by Darren Bowden)

That is 3 x the incomes we make at Runruno today.

The other fact that’s not really appreciated is La India will be starting production with a debt free status, Runruno is blessing us with that position, in fact, not only debt free, the remaining incomes from Runruno should leave us cash rich too, Darren planned to build La India without borrowing using Runruno cash incomes, but that was when gold was $3k, incomes this year may literally be double what the had on his estimates, so don’t be surprised if he has a new plan for that extra cash windfall, at a minimum, we should have banked cash he wasn’t expecting, especially as we also have an unexpected Q1 2027 income from Runruno, due to production delays suffered in Q3 2026.

To give perspective, Runruno started gold production with a reserve of only 1 million ounces gold and a 10 years planned life span, $133 million debt at 15% interest, gold at around $1200 an ounce for the initial years production, yet those head winds didn’t prevent us achieving the ability to have paid back the loans, buy the Abra tenement, buy Condor gold and build a mine at La India.

This time we are not hobbled by debt, hobbled by a low gold price or an inexperienced CEO and mining crew.

This time we are of the races and incomes will be off he chart, pennies to pounds in play IMHO

Maybe that might cheers a few up.

I’m not offended, and I have already mentioned the reason for the sideways shareprice movement, a bad quarter production because of contamination, a direct hit from a storm and a massive seller or two, none of those are guess work, but we are talking about 6 months and I have been here 8 years, those are things I have seen a few times already, yet the share price ticks higher if you have the stomach and some semblance of patience, printing your panic online doesn’t change the outcome, neither does my positive views, but my 5p initial MTL investment dropped down to 0.4p at MTL biggest distress and back up to 16p MTLs high point, I have held and added through all that period, my advice is take the lows and add, make use of them, it’s worked for me and many others, the good times are in view, stick with and you will have your 100% gains this time next year IMHO

;-)

We do have an update every 3 months, that’s a certain, Darren Bowden and his team will have daily stumbling blocks to wrap their heads around, and yet we feel or expect an update via RNS on every single event as soon as it happens, yet given MTL time to deal with the issue saves investors from anxious feelings, and the solution is mentioned a few lines after detailing the problem, and all is well again.

If people focus on what’s already in your hand, 1 mine functioning at the rate of $50 million FCF quarters and another mine that double those numbers a matter of 10 months from producing, we can relax a little on the background politics, and trust the team working on them have the skills to work them out, after all, they have proven themselves time after time.

Next update in a weeks time or so, I think they should bring both clarity and cheer.

Typo on my last post, should have been (365 days of 2025)

Let’s be clear, we have the licences and we have the law on our side, so delays are annoying, they don’t change the outcome, if Dupax is as rich in gold as Darren thinks, it will be mined, if it’s not, then Runruno will need a plan B, plan B could be moving the processing plant to another Condor style reserve, as in proven and ready to go, or it could remain in Runruno and we find other reserves, ones we haven’t discussed as yet, but be sure Darren has already looked into plan B incase the current plan isn’t a goer.

As for share price discussions, you have to zoom out a little if you want to mention performance, a few here like to pick dates that make MTL look like a dud, yet zoom out and it’s clear we have had a fantastic few years, last year alone was a 180% increase over a 12 month period (365 days of 2026) and if you zoom out 2.5 years even at 14p we have seen a 700% increase (July 2023 to today)

My point is if you invested in a mining firm, growth is a long and protracted investment, we know MTL is growing, both financially and physically, the product we produce has grown vastly in price, and so has the value of the reserves as a reflection.

La India is ahead of build schedule, months not years away from making cash, in the mean time our remaining cash incomes from Runruno have doubled since we started the La India project, and so has made it extremely easy to finish the project and collect spare cash, to use for any other plans Darren has up his sleeve.

MTL have had issues in the past with access to certain stages of our reserves at Runruno, at one point we had about 800 artisanal mining teams, or 1500 men illegally mining on parts of our reserves, Darren Bowden used a mix of patient diplomacy along side official enforcement to remove them peacefully, mining those reserves had been delayed, but we have mined them, and so whilst it’s annoying for us investors it’s not going to prevent the outcome should Dupax have the resources.

I think we need to enjoy the fact we make around $1/2 million FCF a day from Runruno with gold pricing finding new levels, the Q4 results will demonstrate that fact, and La India is set to make twice that a day, starting Nov/Dec 2026.

We will have more factual information about both the build and Dupax in the coming months, so let’s enjoy the high gold price/incomes and the updates on our immediate new mine, that will come through this year, La India is a monster, and we won’t owe a penny when it starts, let’s enjoy 2026, 2027 will sort its self out, we have the very best CEO working on it, he knows what he’s doing.