Member Info for leehardcastle

The fantastic thing is that the few shares available get snapped up when the odd sale makes its presence, but it also means that if great news appears (re-finance news, large gold sales) then the bid has to rise substantially in order for those holding to let go of their shares, and so the ask follows suite, those wanting to join the journey when the expected news fall into our hands, will have to stump up a lot more the penny offerings at the moment, I’m much happier holding than chasing shares on the rise, but I suppose others chase when news is concrete, less risk but less reward.

We definitely have a back ground buyer, taking 1 million at a time, think he/she has another load at 1.24p waiting to be filled, Monday is December and the last month of Q4, I think DB will be firing an RNS at us in the next 2 weeks, he will be wanting to put the finance to bed in 2019 and set us up with a clear head for 2020.
I wonder if these buys are family relatives of the Directors? Certainly confident purchasing going on.

I think we may be in for a huge surprise, Shinfalls, your numbers for Q4 look really conservative, I think without downtime we would be producing 20k ounces, allowing for a full 7 days downtime we would still be making 18.5 ounces at $1470 an ounce ($27 million again)
If we take $95 million as a full 12 months income, that would be well over 50% more income than 2018, that’s more than anyone could have predicted at the beginning of 2019, the banks will be just as impressed as I am, supporting us for the future with a new payment plan is not brave but plainly logical, as anyone can see a recovery is in play, 2020 will be a major year for us, our 16th year in this journey, the tide is turning boys and girls.

I’m not one for shorting, but imagine shorting the DOW when the day comes, £10 a point all the way back to 15000, need to open an account.

Very quiet indeed, just looking at the DOW, anyone else here think that a bubble is about to burst, they must be crazy 28100, I remember the days when the DOW was double the FTSE100, when it pops where will they run to? Gold will be the haven, the economy in America is all puffed on hype, debt ridden and fooling them selves all is well.

Interestingly, the share price closed at 1.6p in Feb 2019 when we had an RNS that the major shareholders were happy to waiver outstanding loan re-payments and wait for the banks re-finance deal, that was just after the news of Darren Bowden taking the helm and we had sold 11k ounces of gold in Q1 with 3k ounces extra unsold, soon after that point we did get a re-finance deal, but the $20 million capital raise set as part of the deal was a pill the major shareholders wouldn’t swallow, as it would have diluted their holdings, that decision was brave and risky, but I believe the positive outlook from Darren Bowden’s initial look at the mine operation gave them confidence, that he could generate spare capital from future gold sales and save us all from dilution.
December is the right time to reset the refinance terms, this time we have proven we don’t need additional capital to continue, we are now self sufficient, $5.2 million in the bank and a mine record $18850 ounces of Q3 gold production puts us in a solid position.
When the news arrives we will have cemented our future security, and prosperity will come with time, I believe we will end 2019 on a year high, setting us up for ever increasing production, and reducing production costs in 2020.

The share price has consolidated nicely above the 1p mark, it’s notched up after each quarter and the shares are finding sticky hands, there is so little stock available you would find it very hard to buy any serious quantity, and I would advise those who expect the refinance news is certain (I’m one of those) to pick up small and often top ups, picking up the odd sell, although they look to be drying up, this quarter is the game changer, lining us up for the 2020 season. GLA

Q3 2018 gold sales were $14 million with a share price of 3.5p
Q3 2019 gold sales were $27 million with a share price of 1.0p
Same number of shares In issue.
Performance has nearly doubled and is without doubt predominantly down to our new leadership and rising gold prices, Darren Bowden and his new team have had there first years influence in the company, I’m perplexed how Q3 2019 results haven’t hit home yet, but I’m a little pleased as recent funds have allowed me to top up on the cheap, a coiled spring comes to mind, Re-finance deal on the cards before Christmas, and a very happy new year for all.

When we talk about Q4 we have only 5 weeks remaining, and the holiday season loses 1 week of that, so I’m predicting a resolution in the next few weeks, hence my recent top ups. GLA

Took another 500k first thing

Thank you for your response Volmer, I hope a haircut on the debt would take place, but I doubt it very much, the banks hadn’t made that style of offer before and insisted we raised extra capital from fund raising in the past, of which we refused, the debts are not too large to handle, they are less than half the total cost of the venture, and only a tenth of the gold value in the ground, the fact we couldn’t pay them was the poor performance from the previous management, 2 years they spent to reach 49k ounces in the second year was dire and that’s how we fell behind, Darren Bowden in his 1st year (2019) is set to produce around 69k ounces at an average £150 dollar ounce increase, its a world apart ($37 million extra) and that’s what will pay the loans, next year (2020) will be even better, I would guess 85k ounces and another $24 million top line over 2019.
I’m expecting a haircut on interest, not from the banks either, but from the major shareholders, if the banks give us 10 quarterly payments, that would be fine, spare capital could be used to lower the major shareholders loans.
We are not a basket case, we a profit making gold mine, so don’t expect any charity, we really don’t need it, keep up the good work DB.

I have been invested here for over 3 years, I know the small details of this company and its journey, this is my honest prediction on what will happen in the very near future, Q3 produced $6.9 million profit from a record 18850 ounces of gold production, of which allowed MTL to spend nearly $5 million on capital improvements (investigations, repairs, servicing etc etc) leaving $5.2 million in the bank, thats the accumulated cash over the last 3 quarters, so if we add expected earnings from Q4 we can expect a minimum of $6.9 million profit again (I expect more as improvements continue) so assuming we spend another $5 million on finishing the repairs and improvements to the plant, that would leave us around $7.1 million in the bank, of which the bank could take its 1st repayment of a brand new refinance schedual, $6 million would be a good start, leaving us $1.1 million in the bank and an ever improving mine efficiency, repairs completed, our capital expenditure will drop drastically to say $1million for the remaining 2020 quarters, thus net profits will rise to a minimuim of $6 million each quater, rising over 2020 and payments can contine, perhaps payments can rise to $7 million in a year and $8million in 2 years, 10 payment and the banks capital and interest are cleared.
Thats what the banks have been patient for, they have allowed us to have a payment holiday to let us get the roof fixed, and build up some running capital, which is now at a level where repaying them is now certain and not a wish.
We had an offer from the banks earlier this year, a refinance schedual with relatively easy payments that insisted we raised $20 million upfront as part of the deal, which the Major share holders rightly refused, as it would dilute the hell out of existing shareholders, so, we got a better deal, a payment holiday, thats got the roof fixed and finances are improving at an amazing rate, imagine when we are producing 20k ounces gold and $30 million income, operational costs at $18 million, capital expenditure at $1 million and repayments at $6 million, we will have $5 million clear in the bank every quarter, I believe 20k ounces is dead cert from Q1 2020, but possibe this coming Q4? maybe, we have gone from around 16K Q2 to 18.85K Q3 in one quarter.
Bullish, you bet, I'm a numbers guy, the numbers dont lie, we are recovering and the banks know it, finance will be reset and hopefully at a better interest rate from both parties (banks and major shareholders) that would help but is not a must.
A share price re-rate will come with this re-finance news, its whats held us back all year, news will spread, AAZ comparisons will be right, and a shareprice to reflect it, multiples of today, I am holding 3.8 million shares and are in profit.
GLA.

I genuinely think that’s the last sub penny day, we have all the stars aligning, and yet the share price is still lagging behind the reality, our income is climbing rapidly, our mine Infrastructure is regenerating, our understanding of the plant is improving, our management are top drawer, our political position is safe, gold price is solidly hanging at around $1500, and new finance looks about to be set, if any one can find fault here, please let me know, MTL are the bargain of the century, AAZ style recovery and any one looking in can get on board, you have missed nothing, it’s all to come still, very exciting.

Buys 8 to 1 sells, 0.99p won’t be here long, had a few more today, all good

Your quite right, but each time it ratchets a little higher

I saw those £10k sells, figured one was a buy and that they were yours, well done, tax free, I think the dust has settled again, steady away until the refinance news, I will be buying more before then, 5 million target

Roy, did you get to do the ISA conversion today? Mrlol, I think you will be in a huge queue if we see 0.8p again, it would require heavy selling, of which I can’t see a reason for, we have had a buyer taking up a steady but large holding, I wonder if he will continue now we know just how rapidly this recovery is taking shape, news on the refinance will pop out unexpectedly, don’t leave your top up too late boys and girls.

Hi Roy, I imagine the late trade was a BUY order placed at 1.2p earlier in the day, I imagine we will open up at 1p sell and 1.1p buy.
I have no experience of transferring shares to an ISA, what’s involved? Do you have to sell £10k worth and Buy them back for the ISA? if so with the 10% spread are you out of pocket? definitely signing out now.

I had a chance to look at the numbers a little closer today, Net income for Q3 (gold sales minus production costs) was nearly $6.9 million, up from $2.9 million achieved for both Q1 and Q2, that’s mighty impressive for just 3 months worth of improvements, and it gave them an extra $4 million to carry out ongoing improvements whilst having this Loan Payment free period, I wouldn’t be surprised we hit 20k ounces this quarter (Q4) which DB predicted earlier in the year, I have to say, DB has turned this company around, from losing around $7 million a quarter without any capital spending or repaying loans, to making a few million whilst rebuilding the infrastructure, all in 9 months, It’s no secret I have had faith here in the past, and at times it looked bleak, but the light is certainly shining for all to see, at this rate of improvement, the banks will be extremely confident in supporting us for the next few years, and DB has actually stated he expects a resolution this quarter, and I believe that’s 99% a certain now that we are generating profits, not peanuts, but serious profits, I’m the happiest this weekend I have been in 3 years, and the share price is worth 20% of my initial purchase, not for long though, I can see 5p in 2 years, and that’s not bull****, that’s just economics, if Gold hits new highs as predicted by many, 1 year, signing off. GLA

I was shocked too, it’s a fantastic improvement, and the gold price average was fantastic too, clever selling by the MTL management, costs per ounce looked high, but that cost is hugely inflated by the infrastructure improvements, you have to crack eggs to make an omelette, so I didn’t see any negative in that, they will drop drastically in 2020 when the improvements are finished, 2020 will be transformational, make no mistake, 1p shares are silly cheap, but I suppose it takes those who paid 5p, 10p, 20p, 30p plus for those same shares to see it, those who paid 0.5p don’t have the same values, I think next week will be much better than today as people digest the facts, and see the value.