Member Info for leehardcastle

If you look at a company based on the amount of shares trading hands, your a fool or a trader, Aldi and Lidl are currently the most successful Supermarkets and not a single share is traded, the share price is stable when no one wants to sell and no one wants to buy, or both buys and sells are equal, but saying a company is a Zombie because of the number of shares treaded is just stupid, MTL will operate as a gold mine regardless of the value of the share price, that’s a Fact. It’s been explained why they want to change the nominal value, it’s to release new shares to Directors, not to dilute or raise funds, we make money from Gold, and the only question? How long will it take to pay off the loans, according to Darren Bowden 2025, I’m happy with that, and long term investors are happy with that, so jog on,

The Trolls are back and looking silly, talk of $1400 dollar gold, massive dilution, 0.4p and every other negative outlook without any real basis or logic, I won’t try to correct them as it’s a pointless task, patience will reward for those invested and actually reads facts and not fiction.

TheNavigator. You don't know what the 2 largest investors paid for the bank debt, no one knows other than them, the bank and MTL, it was never made public to us, and you forget that with out tens of millions from their pockets we would certainly have defaulted with the banks in those first years of low production, Since Darren Bowden and his quality team have been employed we have become comfortably profitable and they have been given free shares and incentives, you dont have to take the negative spin on it, its because the company has a bright future that these highly skilled and experienced employees have taken a position in the company, to be part of a long term venture, just like most here, we are looking for a long term investment, and the last 15 years has got us here, the next few are the gravy.

GamblingAnalyst, you spout utter nonesense, we have a minimum of 5 years gold (Phases 3, 4 and 5 currently untouched) with a confident note from Darren Bowden to extend the current reserves by 1 to 2 years with near field extensions, there is only $12 million to repay before the interest rate reducion to 7%, thats definely later this year, and gold is set to go much higher, not lower, ever higher inflation has just started and is here for years, taxes will be offset by tax credits accumulated from previous losses and we have yet to hear if we will be granted a tax free extension, thats the truth, your knowledge here is so small you shouldn't try and post to scare investors as you have absolutely no credibilty.

Let’s be clear, we have phases 3,4 and 5 gold remaining, that’s a minimum of 5 years, plus DB is confident to extend the range of those phases and hopes to get another year or two, so let’s say we have 6 years of gold resources without buying new plots in the Philippines, DB states debt free by 2025, that for me gives 3 years of debt free production before running out of gold, its during those 3 years that you have both the need and the cash to acquire new plots, there is absolutely no need to take further expense any earlier as being debt free and not paying interest is the most efficient use of future gold profits, I personally have no worries with the government, MTL have been a nothing but beneficial to the Philippines, the locals have had quality employment, quality education and health care, improved infrastructure, massive tree planting projects, and all with no serious injuries to the employees, they are an asset to the Philippine economy and will have leave no reason to not honour the licences and agreements we currently hold.

You could be the first trade today Tygra, sell up, low volumes has no effect on the company prospects, it just means those holding shares are happy to hold, it takes a seller to provide shares for a buyer, so we currently have a perfect balance, buying into a gold mine takes patience, at least quarter by quarter, and we get plenty of buying and selling at those points, your zombie remark is off the mark, the company is running perfectly in the back ground, just doesn't need to shout about it every day like you obviously require, perhaps you need to play the AIM shares that promise the earth and have nothing but constant ramping in order to play the swings, good luck with that AMC is one of those, billions of Nickel in the ground, not one ounce in a decade ever comes to fruition, huge swings for traders, but the final nail is going into the coffin soon and absolutelly no chance of shareholders to ever see a profitable company, that's a million miles apart from MTL.

The case for gold to go higher is definitely more likely than lower, you have to use history to make certain determinations, the case of high inflation and higher gold prices has hundreds of years of evidence, and betting against would definitely be a lower probality, MTL have had an amazing turnaround from a disatrous production start, and we all know its slowed the share price growth, but we are back on track, promoting the company would have been better for us as investor interest would have us much higher in the share price stakes, but it wouldn't change the production numbers, so possibly the reason why the company has made so little promotion, the number of shares will remain the same, even if the resolution to have the Nominal share price reduced to 0.01p goes through.
If any fund raising was requested in the future it would have to passed by 75% of the shareholders, and thats unlikely based on feelings, we have the best gold ahead of us and a lower interest rate, tax credits will offset the tax due for many a quarter, so lets all wait for the better times ahead, after all, most here have been here for a long time, and seen dark conditions, yet held firm, the light at the end of the tunnel is shining, long and strong will prevail.

If I’m reading it correctly, they will still have the same number of shares, with the exception of the 22 million additional shares given to the Directors, but the nominal value will be 100 times smaller, not 1p but 0.01p, thus allowing them to generate new shares at any price above that figure, should they want to create new funds, as in offering new shares at a discount of say 30% to the current price of 1.1p, they could sell new shares at an offer price of 0.8p, that would not be possible if the nominal value is 1p like it is now.
For me, I don’t want them to raise funds through new shares, unless they are offered to all invested, then that would be different, if the money was to save on interest amounts and shorten the debt repayment period, but for new acquisitions, I would say, let’s gets this venture debt free first, then look at buying other business ventures afterwards.
Thoughts please.

I think it’s best left as it is, I think uncertainty never helps, We are generating enough profit to never require additional funds for this current project, additional funds for future acquisitions needs to come from a company with a higher share price, that is something we will have when we are debts free, so I’m 100% not in for the change, I’m unlikely to make the meeting due to the distance involved, although it would be fun to see faces to names, so will not say no, possibly could make it.

CPI 9%
RPI 11%
Numbers released today and more to come, wealth erosion in action, come on gold, its time for the wealthy to take a position, hold gold and save your wealth, the gold price will climb from here, it’s time is coming.

Still reading…..lots to grasp

$1900 gold, its sold down every time before its next leg up, inflation is off the chart and we really should be flying, can the market hold back the inevitable, I don’t think it can, long and strong boys and girls

That’s 8% interest rate reduction.

Love bikes too Jim, roan going only though, I have seen too many track days go wrong, sounds like you high sided? good luck with the knee, as for MTL, DB mentioned a 50/50 chance of a tax break from the government, but I’m sure if that fails we have tax credits from the losses incurred in previous years, so the effect should be limited for a period, I can see DB is focused on the 8 interest rate reduction that’s around the corner, that’s a massive milestone, and the higher grade gold ahead will turbo charge our quarterly repayments to compliment the millions saved in interest that has slowed progress somewhat, but like I said before, 2022 is the year we truly transform, we have at least 6 years more gold production at better grades ahead, so you can see how our current shareprice has so much headroom.
Gold is undervalued by all metrics, but as usual it takes a breath before the next climb up. GLA

Another 100k for me, Thank you, we have the best to come and at these prices it’s a no brainier, GLA

For those finding the numbers confusing, I hope this helps.

You owe your brother £10 and you have in your savings account £1, you get paid £2 and so you pay off £2 of your debt to your brother, you now owe £8 and have £1 in your savings, so your total worth is minus £7.
Or
You owe your brother £10 and you have in your savings account £1, you get paid £2 and so you pay off £3 of your debt to your brother, using your savings, you now owe £7 and have £0 in your savings, so your total worth is minus £7
It’s the same number.
This quarter MTL made $8.2 million clear cash and reduced the debt by $4.7 million, so the interest was $3.5 million for the quarter (8.2 - 4.7 = 3.5) MTL paid the Candy’s $12 million by using their savings, it’s that simple, the total debt is the same whether they had used their savings or not, but the upside to using their savings is they owe $4 million less on the Senior loan and as such save 7% on $4 million for the next 3 months, that’s £70000 less interest owed by Q2, small saving but a saving it is.
Bottom line is we need to clear the last $12.9 million of the Senior loan, then the remaining debt will reduce to 7% and that will reduce our quarterly interest instantly from the current $3.5 million to around $1.6 million, that speeds up the debt free future we all patiently are waiting for, nothing confusing with this latest RNS, I reckon Q2 will bounce back as the 3 weeks lost production gets processed along with the Q2 quarters production, and a bigger chunk of that last $12.9 million will be cleared.
Long and strong.
Oh, any one invested in gold must have the belief gold has to go much higher that it already is, and I believe we are due a huge leap forward in the near medium term. GLA

Hi Mac, It looks like your $4 million is taken from reducing the cash in bank from $4.7 million to $0.7 million, so they used the cash in bank to pay down an extra $4 million along side the $8 million free cash generated, it’s better to pay down the loan than have excess cash in the bank, and with a months operations lost to the BIOX failure, they must have thought it best to compensate with topping up the quarterly repayment with cash in the bank, my take on that must mean they will be expecting to push through a load of material that is backed up from the BIOX circuit not working and generate a load of gold sales in April to replenish it.
The numbers are hard to work out, but DB has stated Q4 for the switch to the 7%, of which he stated last time he mentioned it.
As always you hope for 20k ounce quarters and it’s dull to see less, but that’s gold mining, I’m confident Q2 will bounce back and it’s the yearly numbers that matter most, nothing has changed for 2022s transformation, and patience is simply all you can demonstrate with mining, it’s a get rich slowly business, I’m getting 1% on my savings in the bank, so it would take me a life time to double my savings, MTL will achieve that in a year or two, and it will, we are solid and secure, and gold prices can only go higher, that I fully believe, long and strong

Cheers Mac, these are the numbers as released by MTL:

2 years ago:
Total interest bearing liabilities as at 31 March 2020 were, in aggregate, US$129.8 million (US$69.3 million in senior debt and US$60.5 million in mezzanine debt)

Todays RNS:
Net debt as at 31 March 2022 was US$94.2 million
Senior debt outstanding as at 31 March 2022 was US$12.9 million

So we have reduced the overall debt by
$35.6 million in 2 years and importantly the Senior debt has reduced from $69.3 million to $12.9 million, when that gets to zero we get a very reasonable 7% interest rate on the remaining debt, a massive 8% saving (around $7 million per year) reduction in interest payments, so with all the heads winds and lower gold prices we still achieved solid progress.

So what’s ahead? lower interest rates, higher gold grades in phase 3,4 and 5, higher gold prices? (almost certain) increased mine life (almost certain) equals a faster pay down of our debt.

Happy days ahead for the patient.

Results a mixed bag, Stage 3 gold pushed back a quarter, BIOX power loss and contamination lost production, upside, Senior debt hacked down to just $12.9, when that’s paid down we reset out interest rate to just 7%, efficiency solid at 89% so no drama but no excitement either, business as usual, still waiting for a headwind in gold value, seriously overdue for all gold miners.

Hi Roy, for those looking on the side line, they won’t find a better time to buy a slice of our mine and company, cheap as chips has never been more accurate with MTL, I personally have less interest in the shareprice than ever as I have nothing but the end game in my sight, I look forward for the results and updates, but I know the Candy’s won’t be selling a single share as they know it’s beneficial to wait for the debt free money generating machine we will become, those who have been here for many years have just a comparatively short wait for the big gains, so I look forward with you all to the day we achieve that goal, in the mean time, it will be interesting to see our debts ratchet down, whilst expanding our mine life and open up new ventures and revenue streams, long and strong from me. GLA