Member Info for leehardcastle

Fine tuning the mine I expect, gold holding well, be nice to see it hit $1800 again, sooner rather the later me thinks

$1793 that’s above the Q1 average, looking good for Q2

I agree that finding more gold is significantly less important than paying back the loans, and every dollar should be used to clear the Senior loan down as quickly as possible, to save us millions in interest, the new Directors seem to have multiple skill bases and the financial ones are interesting to me, could they bring with them relationships from the past? We would benefit from a better interest rate, its obvious we can pay the loans, and a lower interest rate would speed that along, issuing shares for new exploration will never happen, we rejected the idea of dilution in the recent past, and rightly so, we are generating our own cash, so the need isn't there, at some point down the road we will explore and prove up parts of our unexplored land bank, to give us decades more gold to go at, but I cant see that for another 2 or 3 years, lets see what these new boys bring to the party this year, but I imagine their wages will be less than their cash benefits to MTL, Darren Bowden is no fool.

The Candy's own 65% of the stock allocated, it would be interesting to know the total amount paid for that stock, the share price was over 3p when MTL listed on the stock market back in Oct 2004, and was always over 10p for the next 8 years, where the Candy's would have added to their initial positions as the company raised more capital by release of more shares, so I can guess they are losing money at the moment on those positions, you can see why they are trying to recover profit via the interest on the Senior and Mezzanine loans, importanty though is 35% of the stock is in other hands, so they dont have an monopoly, and they have just as much invested interest in seeing MTL thrive.

I have a feeling our big seller (Ruffer) has sold out, I think the anchor is raised....finally, try buying 1.5 million shares, quoting 1.82p, I think the sale of the century may be finished, noticed an odd number sell of 2352706 yesterday, that’s not the usual round number, could it be the last of the sellers holding? if it is, we will see a gradual rise this week.

Spags, a few RNS will pop out unexpectedly this year in between the quarterly updates, those NEDs are not here for making up the numbers, theirs skills are going to put to good use, I have a feeling we will get a new loan offer in the future, now we are proving profitable, MTL could find an investor or financier that would like a 7% return, although we have secure finance, other options may arise, Uswitch style, Director buying? Proving up new gold resources? Big company takeover offers, etc etc, do keep tuning in.

Have you noticed how the new CEOs have massive experience in mining, but also finance and investment, are MTL looking to secure new investment partners, or even secure cheaper loans? these guys seem heavily experienced in that direction, plus a share scheme opens up a level playing field for CEOs to obtain shares in the company, including Darren Bowden, excellent to see how the company can attract high caliber CEOs to join the team, I think we are in for some interesting changes for the better in the near future.

Traders buying long positions on gold to cancel out their short positions as they see gold is finally going higher.

Hi Roy, I think we can relax now MTL have stabilised and become a the company we all hoped for, little effort required from private investors, I would have the holdings in this order, 65% major shareholders, 30% private investors, 5% Institutional investors.
It’s clear that our debts are being paid down nicely, from a peak $134 million back in August 2020 to $117.5 in March 2021, nearly $8 million in the bank and some unsold
Gold, Gold prices at a lovely $1780 level so no worries on that part, all we have to do is watch and wait, let the cash flow in and debts shrink away.

I think the heavy seller when cleared out, will leave a lot of shares in very sticky hands, the free float is getting smaller and smaller as most of the cheap shares are getting bought by long term holders, who already know the future is so bright for MTL, I know AAZ went through the exact situation just before they went debt free, a heavy institutional seller hammered them down many times, damping down enthusiasm, the selling made little sense, as profits were strong and the debts were reducing, but it spooks private investors, yet the reasoning makes no sense as they have proved to be extremely profitable and an excellent investment, MTL will re-rate at some point, and it’s extremely hard to predict when, but it’s coming, have no fear on that.

65% not 56% (Candy and Edwards MTL holdings)

65% not 56% (Candy and Edwards MTL holdings)

I too looked at AAZ when they were distressed and walked away thinking, not a chance, the share price was 6p and the negative posts gave me little hope for its chances, missed opportunity, ended up buying in at 32p and out at 75p, made £5k and put it into MTL, not because I didn’t believe in AAZ, but I felt MTL had far more to give long term, the chats on MTLs board is fantastic, with many knowledgeable posts, we have a great community, I enjoy being part of a gold business, my feeling towards Candy and Edwards is far better than some others, it would be interesting to know what they paid for their 56% of the company, but it will be a lot higher than some imagine, they are definitely under water on their investment, they literally had the most to lose, and they loaned the Mezzanine cash to keep us from going bust at the point when we was not producing enough profits, risking more cash, so I’m just pointing out that without them, we wouldn’t have a shareprice, we would have been bust, so yes, the interest on the money borrowed from them is fair when you consider the risks they took, and it’s affordable, we are proving that already, debts are coming down nicely, upwards and onwards.

Gold over $1780 again, very nice

Only temporary, Ruffer will run out of shares and the anchor will be off, I don’t think many realise what these cheap offerings are really worth, the shares are cheaper now than when we were a basket case, we have de-risked beyond belief since Darren Bowden took over, we have ironed out the kinks, making solid profits, with better efficiency and gold grades ahead, and if you are investing in a gold mine, you are leveraging your belief in which way gold is going, up or down, and I think those invested believe gold is going higher, things are rosey for us at the current gold price, should they go higher it’s simply a bonus, bringing closer our dividend payments, along with increasing their value, at current prices we are on target to achieve that by the end of 2023, we are 12 years into this project, the next few are the rewards for patience, many invested here have waited 12 years already, so a couple more is nothing, those just in, your getting a fast pass for a fraction of what most have paid to be an MTL shareholder, so don’t despair, relax and wait.

Debts are down to $117.5 million, the last $3 was paid after the 31st March 2021 numbers, with $7.8 million cash at hand

Remember that we have paid down $27.3 million in the last 6 months from our debt, the interest being $6 million but that’s still $21 million reduction on the loans, and that’s from gold profits generated from our mine, we are expecting to continue with paying down another $30 million this year, based on Darren Bowden’s forecast numbers, that would be $50 million in a 12 month period, so relax and wait, the debts will continue to shrink, it’s like every $4 dollars profit, $1 goes to the major shareholders in interest, and $3 dollars pays down the loans, patience will see the debts reduce and the shareprice can go where it likes in between, I will keep collecting as I can afford whilst they are being given away, when AAZ was 4p folks were selling their shares, so the market doesn’t always get it right, because 3 years later they were selling them for 170p

Census from previous thoughts has been 10p to 15p per share, working on 90k ounce annual gold at $1800 for the upper range, I think we will see AISC down to $1100 in time, we have achieved a 20k ounce quarter at 80% efficiency, I think with the target 90% when reached we will be making 22.5K ounce quarters (90k ounce gold per annum) 700% to 1000% above todays company valuation.

That’s great, I will, thanks

I’m puzzled too, I keep expecting a sudden RNS stating he has, I can’t imagine any restrictions, could it be ethics? Perhaps he doesn’t play the market, it would be nice to see him invested, although it doesn’t effect the outcome, it just adds confidence.