Member Info for leehardcastle

SurreyNot123, it’s clear from your posts you hate the deal with MTL, these are your words from one of

your posts:

33p equiv would put me at 28% loss on over 4million shares. A hugely bitter outcome for my camp.

So this Thursday you just said you would have around 20 million MTL shares after the conversion? when you have got your 33p a share from this deal, are you seriously underwater with a 28% loss on your 46p Condor shares? 28% loss gives you 33p return from 46p.

20 million MTL shares require 4.935 million Condor shares for conversion, wow, that’s a lot, 4.935m x £0.46 a share is a £2.27 million pound investment in Condor, so taking a 28% loss on selling out would lose you £634k.

Sounds like you’re very rich? I have a feeling someone isn’t particularly honest with the size of his holding? it’s a shame if Fridays investor meeting doesn’t hit the spot for you, selling out on a £634k loss.

Every one seem to have to tell others they are selling out, good luck selling 20 million, comparisons of MTL and Condor management keep coming up, there is no comparison, MTLs is working perfectly for shareholders, Condors failed you, we get it.

We just bought out future, that’s what has happened this week, it’s what gold miners do, they dig up a plot of land and turn a profit, use that profit to buy more land and dig that up, turn more profit, it’s what is expected and it’s what has to be done, MTL is on that journey, phase 2, it’s what was required and we just pulled it off, decades of gold reserves in hand, and a proven team to deliver, pouring gold at record high prices.

Well done Darren Bowden, another box ticked.

Broomtree, I’ve come to the conclusion you are rude and ignorant, an opinion from some one holding 7.2 million MTL at 2p average, work that one out, please please sell up, I pray you do, I will laugh my tits off when La India is producing, when we are 20p and I’m 10 bagging receiving dividends, you trade your way out for another penny and feel big about it, the big money is coming for those with guts and patience, your like every nay sayer I’ve seen from MTL priced as low as 0.4p…. wrong, MTL just bought their future, a deal that Condor holders say was far too cheap, so it’s got to be sensible to think MTL got a bargain, a company with a proven track record to mine, got an asset far too cheap for what it had to offer, and your going to sell, that makes real sense, last Condor post from me, I will be on the MTL board if you fancy staying around for the real growth.

Hummingbird, did they have cash generation from another mine whilst building the new mine? That’s always the issue, no money means share dilution or more borrowing cash to overcome building delays, MTL have more than enough cash to build 2 La India mines from Runruno income, that’s not exaggerating, 100% is just another way of saying it’s getting built, hook or by crook, costs and time will be a variable, but Darren Bowden know Nicaragua and has many contacts to help out, cash is in hand, Candy is a mate of Trump, gotta help it run smooth politically, first pour Q4 2026 has been indicated already, those 5.5p a share at first pour is in the bag in my opinion, so it’s more than worth waiting for.

Those selling out and moving on will be leaving the best behind.

As always, people make choices, I’ve seen big holders leave MTL, Roy as an example had 6 million MTL shares, tried to trade it and got left behind, was out at a third of today’s price.

MTL are extremely canny, and a hundred hurdles have been jumped through just in the 8 years I have been invested, the next phase is coming from strength and knowledge, and record high gold prices.

I think Simms45 was right on the money, the future is a producing La India and surely thats what Condor holders must have wanted, holding less than another 2 years to see that happen must be worth the wait, especially when you mention 14 years waiting already.

Make no mistake, MTL have proven they can mine, and they have the cash generation required, Darren Bowden did not buy $67 million worth of Condor Gold to sit on it, its going to get mined, thats 100%

The total holding of tradable MTL shares including the new allocated MTL shares will be 2.56 billion shares total, if MTL decided to pay 0.6p a share or 10% of the current shareprice it would cost just £15 million, now I’m not suggesting that’s what MTL should do, but the option and cost is easily achievable if they wanted to with current levels of cash generation.

Buying Condor Gold with current cash and a little loan from Drachs is definitely a better way to spend our current money, and using future cash generation from Runruno to both build the La India mine and prove up the Abra Tenament is why our future success is pretty much nailed on.

When you look at the gold price hitting new highs and set to keep doing so, future cash generation is going to explode, we have an amazing future.

Please excuse the lack of capitals in my previous post, if you use a rude word on this chat sight, it ends up removing the word as well as the Capital letters in the post, very odd.

dividends are interesting, some won’t invest without an income payment, so a dividend increases potential buyers, and the shareprice adjusts to a multiple of the dividend payment, for example, a 10% dividend annual income has the shareprice 10 times the dividend value, a 5% dividend annual income has the shareprice 20 times the dividend value, so it’s definitely a rocket up the **** if the shareprice, if it can be sustained longer term.

on the flip side, it’s a lead weight on growing the business, as its money that could be spent on growth and hence a bigger and faster future income.

darren bowden definitely saw this and even as we approached a debt free position he made it clear no dividend in the near future, and it disappointed many, but look at what he’s using that cash for now, condor gold assets in the bag, and a very long and bright future was secured in one action, using every last dollar to achieve the deal.

darren is definitely a canny business man as well as a skilled miner.

dividends in 2 years time as la india gets producing is definitely a good idea to grow the shareprice exponentially.

I just hope for those new MTL shareholders they don’t rush to the exit on Thursday with their brand new MTL shares, only to see what they missed on Friday, it’s going to be very interesting, by the end of the month when the 9.9p per share cash injection lands, I think you see a mighty rise, and so we should, it’s long overdue.

$2700 dollar gold makes $1600 dollar FCF with every ounce produced, $363000 per day, based on 82.5k ounces per annum.

Cash printing machine.

I think we are for some nice surprises when we have the investor meet on the 17th, Darren Bowden was waiting for the deal to complete before telling us price sensitive news, we are to be one big happy family, and good news benefits all, long termers and newcomers.

Phase 2 of the journey has just began.

Todays value:

MTL market cap £107 million

AAZ market cap £115 million

MTL 9 months gold production 65000 ounces

AAZ 9 months GEO production 8300 ounces

MTL are on another level.

I think it’s not fully understood how cheap MTL was before this acquisition.

As a comparison just look at AAZ.L and see what a gold, copper and silver producer is valued at today, they have a £115 million market cap and this is its state of affairs at the end of 2024 Q3

Anglo Asian Mining AAZ.L have a Net debt of $14.0 million ($12.0 million at 30 June 2024)

Unsold gold doré and copper concentrate inventory of $2.7 million at 30 September 2024

9 month total production Gold Equivalent Ounces GEO of only 8310 ounces, yes, 8310 ounces.

AAZ have never in the history of the company ever got remotely close to making 84000 ounces like MTL did in 2023, or the estimated 82500 ounces for 2024, they are losing money, we make $120 million a year, we should be multiples of AAZs market cap and yet we are almost the same.

It’s simple, MTL was already ridiculously cheap, and the 2 years gold remaining was a weak argument, with this nailed on acquisition of Condors shovel ready reserves, 20 years reserves as a minimum, target annual production of 120k ounces alone, starting from Q4 2026 the asset value of the combined company is enormous, and 10p a share is not even close to valuing the current situation.

We have been expecting a re-rate and it’s coming sooner than most can comprehend, because MTL hasn’t been fairly valued in the past, it’s hard to find perspective.

Take a look at AAZ.L for yourselves and you will scratch your head as to why it’s valued the same as MTL

A warm welcome to MTL, we are all in the same boat, and its a blindingly good one, we really couldn't have it any rosier, and now all will benefit who are invested in CNR or MTL as of today today.

I'm as chuffed as can be, I hope all can enjoy the new venture together, lets get La India producing, happy days.

They voted 99.4% in favour of the deal, thats it, we are to be one happy family.

Condor shareholders will be MTL shareholders, as they say, lets get to work.

20p at first pour at LA India, end of 2026, 15p in the 2025, if Gold runs over $3000 then FOMO can take it well beyond those numbers.

Put it this way, MTLs current PE ratio of 1 for a producing debt free and highly profitable gold miner is already utter madness, with 20 years gold in the ground takes the “what is MTL going to do long term?” Insecurity out of the picture, we should be 10p in the next month, and that’s too cheap, a little bit of media exposure will have this unknown bargain opportunity put in the light, it’s all gravy from here, this is literally the beginning of phase 2 in MTLs journey.

In the real world we have Condor Gold shareholders having a meeting on Monday, to vote for the takeover offer from Metals Exploration of Condor Golds La India deposit in Nicaragua, condor shareholders will be offered 4.05 MTL shares and 9.9p cash per Condor gold share.

With a one off payment of 5.5p per Condor share when MTL make the first gold pour, that’s expected in Q4 2026, then another possible 5.5p per share if MTL prove up more gold in the La India resource, that’s not a definite, but may come down the line within the next 5 years.

It’s 99% nailed on this offer will be accepted and is great for both MTL and Condor Gold, as it’s the extension of resources MTL need, and it’s the mining of La India all shareholders will be part of as its gold profits are materialised.

MTL have around $240 million profits from the mine in the Philippines (Runruno) for the remainder of its measured lifespan, 2 years remaining, but may have that extended by bringing in gold rich earth from local MTL owned grounds, news on that soon.

Plus MTL have the Abra Tenament 120 km from Runruno that’s fully owned and currently being drilled to access the gold and copper reserves, with the plans to mine in the next few years.

It’s a no brainer investment, which ever way you go, either buy MTL shares at 6p or CNR shares at 30p with conversion to MTL shares and cash.

Hope that helps.

Sorry, to clarify, we will make $47.7 million from gold sales if we only produce 18k ounces for 2024 Q4, the reason I say this is because we did have some horrible weather in those months, that’s a low production number as we average 20 to 21k ounces per quarter historically.

That’s $47.7 million gold sales, not free flow profit, that would be around 18k ounces x $1500 per gold ounce profit, $27 million on a poor quarter, a good quarter is say 22k ounces gold production or $33 million free flow profit.

Yes it’s true out market cap is currently equal to 1 years profits.

Hope that’s clearer :-)

Interestingly we have had an average record high gold price quarter (Q4)of $2650, about the same as todays price, the last quarter (Q3) was under $2400 an ounce average for perspective.

Even taking a low ball production of say 18k ounces, bad weather, etc, we shall produce $47.7 million sales, if we manage 18.9k ounces we make $50 million.

Condor deal looks nailed on now, happy days, happy new year.