Member Info for leehardcastle

Darren Bowden in Feb 2024 told us we had 4 years mining life at an average grade of 1.29g/t remaining in Runruno.

Thats enough for 75k to 80k gold ounce production per year.

He did mention a month or two possible extension on the fringes but didn't mention the grades.

Due to the nature of back filling the waist and planting trees as we go along the costs to close the mine will be small and he mentioned around $5 million in total.

The mine life is easily long enough to get the Abra tenement and possibly further aquisitions set up, he expects to have income from small scale mining plants on high grades targets in operation within a year or two, creating further cash generation before and during the period of closing Runruno and starting production at the Abra tenenament.

Darren Bowden stated the speed in which we have managed to pay down the debt has opened up many new possibilities as the war chest cash accumultion will allow us to persue mutiple aquisitions.

I expect news on other targets later this year.

Post copied from ADVFN chat by johnybigarms (He really does have big arms)

We have our Q1 results to review in few weeks, Gold average will be a good $90 dollars above the last results, at 19k to 20k ounces average production we should have generated well over $40 million income, we could actually be debt free at the end of this quarter, but if not it should be only a week or two additional mining to actually achieve the debt free milestone.

At current gold prices we should be producing $80 million free flow cash per year, our tax free period will come to an end but I’m hoping we will have a few quarters free of tax using tax losses from previous years.

Should just $12 million of that $80 million be paid as a dividend, that’s 0.5p dividend per share or a 12.5% dividend yield at our current share-price, but I feel the share price would be nearer 10p at that point, a £200 million market cap paying a 5% dividend.

Our market cap is £85 million today and we will generate £60 million free flow cash before tax in 2024, with 2025 2026 and 2027 set to repeat those incomes, this is without the Abra tenement income that could be worked creating cash with a small scale low cost set up, online in just a year or two, giving us multiple incomes.

Long term we have decided to close the current mine in 2028 and move the infrastructure to the Abra tenement to carry on with a large scale production over another decade or so with luck, results on gold and copper stocks pending but Darren Bowden hasn’t decided to purchase this tenement blind, I’m confident he knows it’s a viable project already, after all the sample drill rig is on site, it’s likely it’s been working and loose results are already in those with the know.

Hope that helps those looking in and wondering should they invest.

Couldn’t have put it better myself ;-)

That’s great, I must admit I post a lot more, but the merits here have been misplaced by many in the past and I think it’s needed a positive spokesperson to help those keep faith, I am pleased it’s coming together and the faith has not been misplaced, I know with certainty now the future for MTL is onto an upward trajectory and we simply have to stay put, increased my holdings again yesterday as we are still in bargain territory, hope you continue to hold for the longer future, I have dividend aspirations on the horizon, Darren Bowden will take us there and with gold becoming ever more precious it just get easier and sooner.

I watch Maneco64 via YouTube and he describes the reason for golds continued rise, put simply, gold is real money and cash is simply printed to death, the governments just turn on the printing press every time they need more cash to balance the books, more notes in circulation means they have less value and you need more notes to buy the same item or ounce of gold.

He believes we are heading into oblivion and says don’t hold cash, hold gold or assets and protect yourself, MTL is a leveraged bet on holding physical gold for me, hence why I’m happy to turn my savings into shares.

Share price is ready for a swing back higher tomorrow.

Gold has just hit new highs, Q1 numbers are going to be bloody amazing, minimum $100 dollars higher than the last quarter.

Gold heading to new highs, I’m amazed at anyone selling at the moment, crazy, short sighted, but I couldn’t resist the bargain opportunity and took another 100k and 1 share for fun, think I’m on a buying spree again.

6.3 million and 1 share and counting.

Harris, you are entitled to an opinion, but when your investment in MTL has grown 400% and you have never posted before, your 1st post in 5 years happens to be negative, you make a post on your fears about a Chairman, who hasn’t had success, but from your posts you know how hard it is to make an AIM company successful, 90% go to the wall, and it’s usually a casino style investment.

MTL trades on AIM but you must agree it’s in another league at this point in time, it’s jam today, not the jam tomorrow plays you and I have been involved in the past, so I get defensive about those who troll, those who cast doubt to get a cheaper entry into MTL, I and many long term holders have been proven right to hold and be patient, you with your 400% gains included, but please don’t put fear into those wondering to cash out just as the going is getting good, the real gains are in view, and it’s because of Darren Bowden and his team, their judgement has been flawless and I have no reason to believe it’s flawed now, we know nothing about his reasoning, but I have a view you don’t have a huge pool of skilled mining brains to hire at will, those running highly successful operations are not looking to move, those with skills in a company that’s not as good as the one looking to hire them are the ones available, but the Chairman is not the CEO, and so its business as usual and the Chairman has to add to value or he will be out with his P45, because the previous CEO to Darren Bowden was shown the door for underperformance, thank fully, exciting months ahead and I want all those involved today to be part of that journey, it’s that simple

Harris, the fact you have never posted in 5 years about any of the companies you mentioned earlier tells me you have never invested, including MTL.

In 5 years of my posting it should tell you I know this company like the back of my hand, I have seen 5p to 0.5p and back to nearly 5p but always increased my holdings.

We are debt free in just a matter of weeks, we generate enough cash in 1 week to buy the Abra tenement, that’s a fact, Darren Bowden owns shares in the company, and has acquired many more for keeping the shareprice low, but now is our time to shout from the roof tops, because now is the time we generate free flow cash that allows us to purchase what we want, without either share dilution or loans, we have 4 years income nailed on, $300 million before tax, and that in any book is a huge amount, we have mining awards and a proven track record, we have Darren Bowden at the helm, we have record high gold and we have a clear ambition to have multiple assets, multiple incomes and a 2 billion market cap ambition, if we was valued fairly on this years income of $70 to $80 million before tax we would have a market cap of 5 times our current one, and it’s clear that’s where we will end up soon enough, get your self invested and I would respect your thoughts much more.

I have looked into ARCM this morning, you can’t blame the failings of a company on one man, it’s the nature of mining that 90% go to the wall, and we nearly went he same way, it takes an exceptional CEO to run the ship and Darren Bowden has proven himself to be the man who turned us around, I’m sure that will not change because of the Chairman, he will be under scrutiny in his appointment, and Darren Bowden will know whether he fits the role or not, so it’s business as usual as far as we are concerned, if you can’t see the massive opportunity in front of you with MTL, that hasn’t put a foot wrong in 4 years, and choose not to invest because of the new chairman, then that’s up to you, but my money follows Darren Bowden and his decisions.

Harris, your not invested in MTL, ARC or ARS and your heart sank, thank you letting us know

DiamondGeazer, I think you need the luck invested in ARCM, you should swop your holdings for MTL, I've looked at the financials as a matter of interest and I wouldnt invest, its a dream company, its a slim chance of monatising its assets, where as MTL are about to grow its assets, no debt, no share dilution, just rapid cash generation and the journey is just about to get exciting, you have the fortunate timing to look into our comanies strenghts and decide for yourself, we are massivly undervalued, but as the cash flys in, we will react accordingly.

You can’t blame the chairman of ARC for the fact it produces no revenue, it’s like 90% of all companies, jam tomorrow, in the mean time the company releases new shares to raise funds to survive long enough to realise the potential, MTL are past all that and Darren Bowden drives the company, it’s the reason I’m so heavily invested in MTL because ARCs financial pain is typical of that kind of business, I could mention many I have been part of in the last 25 years that never realise any real financial revenue, long shots.

We are simply in another universe, Cash generation of $70 to $80 million per annum is a dream for explorers, but it’s a reality for us.

Good to see we have acquired a new chairman of such high quality, any one had experience of the companies Mr von Schirnding has worked for?

He seems highly experienced.

The Abra tenement purchase is agreed in principle but not paid for yet, it’s being left till the June AGM to get full shareholder approval, and it’s being done like that for simplicity as the major shareholders loan to the company will have been fully paid down and so the major shareholders become just that, major shareholders and not financiers.

Other than running costs of the mine all spare cash had to pay down the loan, it actually leaves us in a very unique position, most companies have debt even when profitable, we will be debt free and extremely profitable, enough so to make numerous acquisitions without taking on new debt.

Hi CV,

We will 100% debt free as it’s an agreement with the terms of the loan, we have to use all cash profits to pay down the loan to zero, as clarified in the recent Darren Bowden interview.

Darren Bowden with agreement of the major shareholders have decided to grow the market cap through low cost acquisition's and build a war chest of cash, no share dilution, the next year alone will generate at least $70 million before tax, with possible tax credits accumulated from previous tax loss periods, we may get keep most of the profit for a decent period, initial plans to grow the business via the Abra tenement of which I have a sneaky feeling Darren knows is gold and copper rich, YMC have a drill rig on site and you can bet it’s been busy sampling already, I doubt this acquisition is a stab in the dark.

The 2 billion market cap aspiration is based on multiple incomes and longevity, and I’m positive he has it all planed out, by next month at the latest he and his team turned a loss making MTL with a huge debt of $130 million into a debt free cash generating machine, I’m sure building the business will be a breeze by comparison to the head aches he took on 4 years ago.

Our current valuation has a lot of catching up to do just on current income, I can’t imagine what effect a decent new gold find will do.

Small mistake in my maths, to be accurate, $14.3 million was paid of the debt in 2023 Q1, so if we have an additional $5.25 million free flow cash from both a higher gold price and lower interest amount, $14.3 plus $5.25 = $19.55 million that could be paid off the loan if all other parameters remained the same, with $0.9 million in the bank at the start of the quarter, we could actually pay down the remaining $19.8 million and be debt free from our Q1 production.

The possibility of clearing the debt in 2024 Q1 is based on the 2023 Q1 results:

2023 Q1 results:

Gold sold - 21,442 ounces at an average realised gold price of US$1,887 per ounce.

Gold revenue of US$40.5 million.

Positive free cash flow of US$17.8 million

Mezzanine debt repayments of US$14.3 million

Net debt as at 31 March 2023 was US$69 million.

Gold production of 21,299 ounces recovered from 546Kt at a head grade of 1.30g/t.

Gold recovery was 93.4%

Darren Bowden told us the average gold grade remaining in the 4 years LOM is 1.29g that’s about the same as 2023 Q1 grade of 130g/t

Assuming the 1.30g/t last year produced over a 21k ounce quarter, its clear we can achieve the same this Q1, but at an increased average gold price of $2075 an ounce it could create a $43.5 million income, an extra $3 million, debt interest on $19.8 million is only $0.35 million for the 3 months, where as last year it was $2.6 million on the $69 million outstanding, that’s another $2.25 million in our pockets, so $5.25 million extra free flow cash more than 2023 Q1 which was $14.5 million would give us $19.75 million free flow cash this quarter if all the other parameters were equal, enough to clear the loan.

Wouldn’t that be fantastic news? It’s certainly possible.

Gold has averaged $2060 this quarter so far, but the next 2 weeks should raise our average to around $2075 if gold stays around the $2150 dollar area, that extra income may be enough to pay off the debt in Q1, 20k ounces would generate $41.5 million income, is that enough before costs to pay down the $19.8 million outstanding? It will be bloody close, but if it’s not quiet there, it will be a matter of when in April, what a milestone.

Nimrod22....its a corker, up to date and from the horses mouth.

Gold over $2140 , Q1 numbers will be very interesting