Member Info for leehardcastle

From the recent RNS on the subject of the Abra tenement.

The Company has completed pre-exploration activities of the Abra tenement area, including geochemical soil analysis, mapping and airborne geophysics.

●

The Manikbel prospect at the southern end of the Abra tenement is now drill-ready with all approvals in place.

●

Operator training has been completed and the Company's diamond drill rig has been mobilised to the Manikbel prospect.

●

Drilling should commence within the next three weeks once the drill pads and other pre-drilling activities are completed.

●

A second diamond drill rig has also been prepared and is ready to mobilise subject to confirmation of mineralisation and a decision to extend the drill programme.

●

The Company is planning four initial drill holes with the aim to complete this drilling programme before the year-end.

●

The objective of the drill programme, beyond the identification of mineralisation, is to compile an initial resource estimate by Q3 2025.

●

Community agreements are in place and the community are supportive of the Company and its activities in the area.

●

Max Tuesley, who has over 30 years' experience in base metal exploration, has joined the Company as Vice-President of Exploration.

A probe into why the licence was granted is what it is, you can expect some to be in favour of the opportunities brought to the area with jobs and infrastructure, doctors, power, roads, schooling etc etc.

Then you will have locals who like things to be as they always was, but the licence being granted won’t be reversed without good reason, MTL has a proven track record by the way Runruno improved the area for locals there.

Nothing will change concerning the licence just because some locals were not involved in the decision.

The wheels are already in motion.

Remember Drachs (Mrs Evans) bought them at 6.75p and she’s in with Candy, so I’m sure she knows more than we do, and she’s making her entry at much higher prices than a lot of us LTHs are in at, she’s not chasing a penny or two, that’s all the reassurance needed if you need it.

We had the same small pull back in the last incremental rise, and the one before etc etc, but the trend for gold and gold stocks is heading higher, and MTL is the best value gold stock I know, no doubt, so these dips are opportunities, those cashing in now will not get those shares back as its journey higher continues, top up and hold will win the race.

Q4 numbers and a timely video and update from Darren Bowden will take us to new highs before this year is out.

Cuckoldking, smart move, I took another 100K as well sub 6p at 12.30pm, its normal movement and I always buy the dip as I keep increasing my holding, now 7.2 million.

Mrs Evans (Drachs) paid 6.75p for a few million last week, who am I to argue with her inside knowledge.

Follow the money.

Just for interest and why you are holding MTL.

Record quarterly gold revenue of US$52.6 million (Q3 2024) gold sales of 21,943oz sold at an average realised gold price of US$2,396 per oz

For the last 5 weeks of Q4 so far we are averaging US$2,716 per oz, thats another $320 per ounce higher than the Q3 which will equate to another $7 million income should it hold above $2716 for the remainder of Q4.

We are looking at circa $60 million revenues this quarter.

Cash monster springs to mind, a little bit of consolidation in progress, the trend is always higher and a little video from Darren would be more than welcome, hope his new team member is on the case of promoting us as I write this.

It’s clear Mrs Evans is growing her share holdings, paying more at each tranche, it would be nice to see her increase further through the general market though, as collecting millions more would be positive for the share price, she has been fortunate to get such a large holding so quickly and so cheaply.

Interesting to see how big her holding becomes over time.

With MTL AISC averaging $1088 so far this year, the current gold price has us making a new high of $1700 FCF per gold ounce tonight,

Dansic, we are producing £9 million per month plus and we have 30 months life in Runruno, with plans to capitalise from the Abra with high grade low scale mining plants that can be up and running in a couple of years.

We don’t need financing as we have all the equipment in hand to move across, we will have a huge war chest to finance the infrastructure.

AAZ are a smaller gold, copper and silver miner who currently have a higher market cap whilst losing money and only producing 8300 ounces over the last 9 months.

We are silly cheap and Mrs Evans knows it, hence paying 6.7p for more shares and having a 18.6% holding and climbing.

Evans (Drachs) increased holdings to 18.6%

MTL with current a PE ratio of 1 makes it the sale of the century, £540k worth of shares bought from 3 trades minutes apart, and yet we still have small time selling, grabbing little moves, when the big moves to come are literally in plain sight, how much more is required to get those holding to see value, ever higher record gold pricing, analysts talking of $3000 dollar gold in just a few months time, £9 million plus FCF every month for another 2.5 years and the Abra tenament already being proven up to carry the torch, since his arrival Darren Bowden reversed a loss making gold mine, into one that generated cash to clear a $133 million loan suffering 15% interest, bought out a major share holder for $25 million, purchased the Abra tenament for $1.6 million, banked $10.9 million and all achieved at much lower gold pricing that todays.

What can he do with record high gold, no debt, cash in the bank, 20% less shares in circulation, 97% ecomomic interest in a new land bank with historical mineralisation, fantastic work force and proven management all proven and recognised with mutiple mining awards?

If you own shares its this simple, do nothing, if you don't own shares, get them as soon as possible because the longer you watch, the more you will pay.

IMHO LTH

How did you know Fastcar? you certainly have knowledge ahead of the rest of us, fantastic news, all going as planed, Darren doesn’t mess around.

Perhaps as Mac said, Candy without doubt made a lot of interest and capital gain on the loan he financed us with, plus lots of his shares will be in profit at 6p, so an part exit via a wealthy investor like Mrs Evans makes sense for him.

Mrs Evans has had the deal of a life time getting an entry for 5 to 6p, try buying a few million on the open market now and you will be paying 8p already, 100 million, god know what she would have to pay.

Either way, let me be clear, a future offer to take us private or not, we are going to make a respective fortune, all of us holding MTL, we’ve been undervalued now for the last year or two, and the recent move is just a little way to catching up to the real value in play.

Thank you for the feed back, I’m off to ride my motorcycle as the weather is amazing here

Taking the company private before would have to been an offer from Edwards and Candy, we know now they obviously didn’t agree, hence why Edwards sold out to MTL.

The share holdings after Edwards 0.4 billion shares were put into trust reduced the market allocation to 1.7 billion shares, the effect putting Candys holding above 50%, so that made sense selling part of his holdings to Evans at 5p getting his holding below 50%, but I find it strange Candy then sold another 0.1 billion to Evans at 6p, why?

Well here goes my theory, are they moving shares between them to make an equal footing, say 28% each, an equal team that make an offer to hold the other 44% currently in our hands and remove them selves from the market.

Short term pain for Candy, long term benefits are no dividends to us, 100% profit to themselves.

MTL are so undervalued today, it’s a bargain opportunity for Candy to still take it private, with an equal partner he sees eye to eye with, Mrs Evans.

Thoughts again please.

Totally agree, the huge values ahead are beyond imagination, and I am a champion to see them, and the dividends that creates.

You have to remember this point though, the major shareholders buying out the bank was the only option they had to save there investment at that point, and with the mine loosing money at the same time, they wouldn’t have had the appetite to buy more shares in a failing company, possibly losing even more money.

MTLs comeback has been much faster and than they could have hoped for, and now the value here is obvious, the dividends ahead are guaranteed and not having to share with the 44% currently not in their hands is now worth major sums of additional money, on that basis I can see an offer down the line.

Thoughts anyone.

Carefree, valid points indeed about the major shareholders having had the chance to buy out MTL cheaper in the past, we know they tried 9 years back and their bid was rejected by the other shareholders, because at that point in time MTL appeared to have a bright future, so when MTL began production and was actually losing money, the bank loan of $81 million unpaid and needing major shareholder loans to stop default, they realised they had no choice but to buy the banks holding over the company, a deal we were not privy too, but we know it will have been discounted as the bank knew the business wasn’t making any profit, so the bank thought they had backed a dud, and will have taken a haircut on the loaned amount to get some of their cash back, with the bank paid off, default and repo risk for MTL cleared, the major shareholders now had breathing space to rectify why Runruno was loosing money.

In came Candys appointment Darren Bowden, employed to solve the mines loss making practices and get us to make the cash to bring us to the debt free position today, Edwards was not in keep with Candys and Bowden’s future plans and so they agreed to buy him out for £19.5 million, and here we are today, in a healthy £9 million a month profit mining business.

My theory as to why I suggest Candy is positioning himself with our latest major shareholder “Evans” to buy the 44% of MTL shares not in their combined hands (approx 760 million shares) is for the potential for them to make huge additional sums in the future, multiples more than the outlay, say an offer of 13p per share was made as an example, that equals £98 million cost to them and a 100% ownership as a result.

For that £98 million cost they get 100% access to the £9 million in the bank, say £50 million worth of mining equipment, the £9 million profit per month from Runruno for the next 30 months (270 million) and all the future cash profits from the Abra tenament £??? million.

And when not if gold explodes higher you can add a shed load to all those production profit numbers, so a

13p offer in effect is robbing us shareholders in practice, and £98 million is a small fry cost to the value here in MTL now that we are risk free and enjoying record high gold pricing.

Luckily we can accept or refuse any offers.

Food for thought, very happy with our progress, it’s just the start, I am pumped with excitement to get an update on the Abra tenament or maybe even another aquisition.

Have a great weekend everyone, love some more feedback.

Hi Mac, your an inspiration holding your plus £2 million worth, as you say the rest of MTLs journey from here is blue sky.

I agree with the Candy selling at 6p to have to buy back at a higher price seems strange, but if they get to a 28% holding each, let’s say the next trench for Evans at 8p, then they have an equal footing to take 50% holding each should an offer for the 44% from us guys was accepted, have you a number that would part you from your shares? I believe 10p by Xmas just from good news on the Abra and a promotional company video, so a double number is minimum in my mind either way.

Sorry I meant 28% holding each (Candy and Evans), not 26% as mentioned in my last post, the 44% in other hands (yours, mine and financial institution) was correct, thoughts on the matter any one?

Roy had 6 million shares at one point, it’s a shame he hadn’t held tight, got clever trying to trade it, dips and spikes was his famous phrase, but it’s just easier to hold and wait when the company and gold is getting stronger, the day to day movement is noise, the trend is your friend, and it’s clear where MTL is heading, hold tight.

I look forward to the update I have expected for a while on the Abra tenement.

Candy and Evans look to be forming a strategic team, if Candy sells another tranche to Evans and they end up with a 26% holding each, I would see that as a position for a bid for the whole company, if so I would see that as super positive, and it would be up to the other 44% holders to work out what they would accept, a double figure offer would be minimum, 13p in the past was offered by Candy and Edwards (the Edwards MTL just bought out) but was rejected by the remaining shareholders, it would be really interesting what figure they would have to offer to get the 44% shareholders to accept.

This is just an idea, I hope to hold long term and collect dividends personally, but the exchange of Candys shares to Evans has me thinking, why?

In the mean time we can bank £9 million a month or 0.5p per share whilst we let the reality sink in to investors, 100 million purchased at 6p by Evans was a light bulb moment for MTL, a super wealthy investor, shes not chasing a penny or two.

Hold tight to your shares, we have a long way to go.

2 1/2 years remaining at Runruno, possibly a little more, the newly acquired Abra tenement is to be mined before then with small scale high grade processing to generate another income whilst moving the equipment from Runruno when it’s empty to the Abra and carry on with large scale low grade mining.

£250 million plus profit to had from Runruno with a $5 million cost to close it.

Hope that helps.

Fantastic idea, let’s hope at least one post a review, we are the best kept secret, we are ripe for a rerate, Darren Bowden also has the power to make the video we all want, Darren if you read these posts, please do the right thing and look after those who supported MTL with their cash, many here paying 40p plus for the shares that got MTL to production, please arrange an updated video interview of the likes back in February, let the worldly know we are transformed and the future is shining bright.

Gold is going to the moon, make no mistake, the timing is like an atom bomb for us and our future earnings, hold tight to your shares.