Member Info for leehardcastle

That’s 3.7 million, I can’t believe it dropped so low, just had to find some change down the back of the settee, and banged that BUY button

I took another 480000 as a show of confidence, screaming BUY, more so today then yesterday.

Gt....that’s exactly what it’s been, a blessing, it’s allowed spare capital to fix the issues quickly, that generates these rapid improvements each quarter, and hence making the whole process have the ability to repay the loans in the future, we are currently in a much better position compared to last year, and we will be in a vastly much better position this time next year.

For those who think today is a bad day,,read this:

Alliance News) - Metals Exploration PLC on Friday reported a third quarter year-on-year rise in gold sales and said it is consulting with local authorities to remove clandestine miners from its Runruno project in the Philippines.

In the period to September 30, gold sold rose 42% to 18,239 ounces, from 10,522 reported last year. Revenue from gold sales soared 92% to USD27.0 million from USD14.0 million.

The average price of USD1,479 per ounce was an 11% year-on-year climb from USD1,333.32 per ounce last year.

Metals Exploration reported that illegal miners are currently occupying sites the firm eyes drilling as part of its third and fourth stages of the mine plan at Runruno.

The company explained: "Productive relations with both the community and the government continue. The company continues with its government agencies consultations in relation to the impending need to remove illegal miners.

"Initial access development to mine plan stages three & four also commenced in the third quarter. Further actions in relation to the resettlement activities will be made in the forthcoming quarters."

Those numbers are impressive, todays drop is simply selling on news, recovery is taking place, it’s crystal clear, the cash in bank at $5.2 million would have been much higher if not for the expensive ongoing repairs, but once done, $millions will add to that every quarter, finance is hinted at a conclusion in the next month or two, good news all round

That’s why it’s called investing, if you want instant returns or losses, try scratch cards or the casino

I don’t have L2 but I’m certain there is a consistent buyer collecting shares at 1.2p to 1.25p, we have been hanging at this point for a while, and no sign of Ruffer selling, all points to a good update, maybe the refinance deal is at a point where they are about to agree, based on the Q3 results, that would account for the slow release, hit us with 2 lots of info in one day, that would be really sweet.

I have a feeling that the refinance may come later this year, as I believe the banks want to see us continue with an advancing cash positive position, I think our current share price will rally from here if we produce 4 to 6 million profit this quarter, because we know the next quarter (Q4) will average another $75 dollars an ounce, profits will be up even further and the banks will see that it’s then possible to set payments that we can meet, I’m guessing 2p this week will be tested.
The refinance when it comes will simply ignite the rocket, I’m guessing 3p to 4p in a blink.
Not long, keep calm and wait.

The Q3 and Q4 results are are going to be the acid test, we have to demonstrate that we can continue the great work from Q1 and Q2, to move forward with gold production, increase gold ounce recovery, reduce production costs per ounce and the banks will happily reset the loan to suit, luckily for us the recent gold price rise this year is definitely helping, most importantly, the major shareholders pulled a blinder by hiring the new management (Darren Bowden and his associates) with proven track success, thus the recent hiring of the BIOX experts to cure our nemesis, the poor BIOX recovery, as well as repairing and modifying the processing plant, so we have the right strategy, we just need time to gain traction from all these changes, hence the standstill agreement, it’s clear the banks want us to be successful, as they haven’t pulled the plug when things were bleak last year, the fact we are finally cash positive at last gives us real reason to expect a resolution this year.
The theory I’ve always taken comfort from when things looked bleak, was that the Philippine government gave the licences to MTL and only MTL, no other company can run this operation, which is why the banks have shown so much patience with us, if this loan had been a mortgage on a house, our non payments would strike a default and certain repossession, because it’s easy to take ownership of a house, because it’s easy to sell on to a new owner and the bank can collect outstanding debts from that sale, but thank fully for us, the Gold mine has no value to the bank if the Philippine government won’t transfer the mining licence to a new owner, and that’s why we are safer than it appears to those looking at our balance sheet.
So the odds are swinging our way, and the share price is very slowly inching forward to reflect it, by no means is it reflecting anything like real value, but that will come rapidly with a renewed bank finance deal and stronger gold production.
In December 2016 when a Director confidently purchased £250k worth of MTL shares at 5p, the banks freshly loaned MTL $81 million, Gold was $1130 dollars an ounce, we had produced a small amount of test gold and our market cap was $150 million,
Today you can buy shares for 1.25p, the banks and major share holders are owed $120 million, Gold is $1460 dollars an ounce, we are producing in excess of 15k ounces per quarter, and our market cap is only $28 million.
It doesn’t take a mathematician to see how undervalued we currently are.
Another piece of the puzzle comes this week.

I know it’s been mentioned that MTL is a leaky ship when it comes to news, but I have found that to be completely the opposite,, the share price moves when news is released, either way, but this move recently is anticipation of good news, not rumours, 15 years of battling has got us to this point, with gold value so well placed and production increasing steadily, you can expect a turning point in the company, and many sense it be this quarter, the results are in hand, just not ours yet, patience will reveal all.

That size buy has taken some filling, the market maker has had to offer near its value to fill it, not many letting go of their shares at this price, I wonder if the buyer has had a little tip from someone in the company that Q3 results are strong, or finance is sorted, very confident, any day now.

Think 8p in 3 years is very realistic, as for the Q3 report, Darren Bowden seems happy to relaese them later than the previous management team from 2018, who were always consistant with the 3rd to 4th week of the following month, as Darren released the Q2 2019 report over 5 weeks after the end of the reporting period, I suppose next week looks more likely.
Sticking to 16800 ounces prediction. GLA

Nice 750000 buy, confidence is growing

The outstanding debts stand at around $120 million dollars assuming we’ve incurred another $3million interest this quarter, so we only need a refinance deal of $120 million tops, whether we get a reduction in the interest that’s incurred or the capital amounts loaned Is yet to see, I would say a lower interest rate would be the most beneficial, as to give us the chance to decrease the amount quickly without incurring huge amounts of further interest, that way the banks and major shareholders get what’s owed at the historical rates, but accept a token rate for the future, say 3% per annum..

SP angels not worth a carrot, Private investors like ourselves know this company back to front, many heads with great research, we are a BUY all day long, just look at Share Prophets last snippet, completely wrong, the so called expert said he had inside info that the banks were closing it all down, that was months ago and completely untrue, stick to your own research, all the facts are there to read if you want to read old RSN and website archives.

Thought this may be interesting to MTL holders, a summary of the recent results from AAZ, taken from Reuters.
Azerbaijan's leading gold mining company, Anglo Asian Mining Plc , said on Tuesday its gold output declined 4.4% in the first nine months of 2019 to 52,198 ounces from 54,573 ounces in the same period last year.
Anglo Asian produces gold at Gedabek and other Azeri mines in a joint venture with the state in which the London-listed company holds a 51% stake.
It said total production of gold-equivalent ounces (GEO), which includes other metals, declined 2.7% year-on-year to 60,122 GEO in January-September from 61,761 GEO a year earlier.
Copper output rose to 1,478 tonnes from 1,057 tonnes, while silver output declined to 117,708 ounces from 144,362 ounces.
"Production guidance is maintained at the lower end of 82,000 to 86,000 GEO due to the decrease in copper price in relation to the increase in gold price since the start of 2019," the company said in a statement.
Total production last year was 83,736 GEO.
So here we have a small gold mining company making around 80k ounces a year, debt free and paying a dividend, valued at a Market cap of £170 million.
MTL this year should produce around 65k ounces, perhaps more depending on how quickly we improve efficiency, and our Market cap is £19 million today, I’m confident next year we will be making over 80k ounces and matching AAZ, so, we are very similar in what we do, so when we start repaying debts with our gold sales profits, then our market cap should reach £170 million too, that’s 8 times our current Market cap, AAZ have proven its possible, they were laden with large debts only 3 to 4 years back, and managed to clear them with Gold prices around $1200 over that period, we have the advantage going forward of much higher gold prices, which in my belief will accelerate paying back our debts, getting us debt free sooner and dividends flowing.

It amuses me how quickly investors lose faith, for some it’s less than a week, the reasons for buying any shares in a company should be based on its prospects, if the prospects haven’t changed, then why sell? the share price moves around from day to day, without news, without reason, but that’s just noise, since the new management team took over, the MTL share price is moving higher with each quarter, it’s consolidating, the reason it’s moving higher is because the company prospects have improved with each quarter, production has increased, gold has gained value and efficiency has improved, we haven’t borrowed any more cash, we haven’t diluted the share number total, we have started major repairs and servicing, hired experts to solve efficiency issues, these are facts and are a very positive slant on the companies position, so what are the negatives? the banks and major shareholders have yet to agree to the new repayment terms of the outstanding debts, of which is costing about $1 million dollars interest every month, efficiency is still along way from name plate design, both are facts, so that’s where we stand, if I was giving the company a grade today, it would be a C but bear in mind last year it was a definite E, we have improved overall potential vastly, so why would you sell at a loss? those selling at a profit, fair play, those selling at a loss when the fundamentals have improved and are more likely to improve further, should ask if their emotions are failing them more than the company, Q3 results are to be released this week or next week at the latest, surely, they are worth waiting for before giving up, I’m in the camp that we have progressed again, and at some point, in the next 12 months we will be in a infinitely better position than today, with a share price to reflect that, patience guys

Let me remind you that a similar AIM company AAZ hit lows of 4p and hit 170p very recently, they are a mining company with similar fundamentals, 4p was finance woes, 170p was debt free and gold at $1550 an ounce, just because we are on AIM doesn’t make us a gamble, we are a serious company 15 years into journey, $250 million invested, a huge chunk of that is major player investors, and currently producing a highly desired commodity, patience required here guys, chill, all will happen in good time, the results are on their way, fact, re-finance news?Who knows when, but as long as we can demonstrate cash positive quarters, we have little to worry about.

I Fancy 16850 ounces at an average sold price of $1425 ($24million income) and $6 million profit, Q4 will raise another $1.3 million more income even without improving efficiency (which I expect to improve further) just based on golds value at $75 per ounce higher of an average $1500.
If I’m correct that would be $16.4 million profit in a 12 month period, less interest charges still has us making a solid profit for the year, this quarter will be the test, not long to find out, but $6 million free cash will light the touch paper, we were losing that amount per quarter a year back, and the share price was hammered at 1.5p down from 3.5p 6 months before that, 1.05p today is seriously laughable, those waiting on the side line are leaving it tight, most here are long term holders and are waiting for much higher values, hence the lack of available shares, when the rush comes it will be hard to get a meaningful exposure. GLA

15 years, very interesting, does anyone know how many shares were released at 3p?

Equal top 3 riser on the all share index, and we are just starting, bye bye 1p, nice knowing ya