Member Info for LiqMyAce

"zero longevity" you forgot Abra and Dupax, please do a bit more research as every time you open your mouth some fool speaks.

@Sun I do actually agree with you, but it's difficult to predict what will happen to the SP in the short term with extra liquidity coming into the market from the new CNR holders and the hit on EPS due to more shares in issue. I am actually a short term buyer so I don't mind a small dip for the next couple of weeks or so. - Good luck to you!

They could also be beginning to factor in the dilution from the new shares issued?

I thought the El Salvador prospect had been allowed to lapse and CNR has no further interest?

@EL I was wrong with regard to the warrants, just checked: You can elect to cancel each of the Warrants granted to you under the Warrant

Instrument in exchange for the grant of replacement Warrants in Bidco subject to the

terms of a new Bidco warrant instrument to be entered into by Bidco (the "Metals

Warrant Instrument") (the "Metals Warrants").

A replacement Metals Warrant will be granted over the number of shares in Bidco

(“Metals Share(s)”) equal to the number of shares in Target ("Target Share(s)")

subject to the original Warrant multiplied by 5.7894, being the exchange ratio derived

from the total value of the Fixed Consideration. The subscription price per Metals

Share will be equal to the subscription price per Target Share under the original

Warrant divided by 5.7894. The intent of this proposal is to preserve the economic

value of your Warrants by issuing new warrants granted by Bidco with equivalent terms

of the basis of the Fixed Consideration of the Acquisition.

@EL I could be wrong but I seem to remember reading somewhere that there is a deadline expiry date on the warrants and stock options. So they need to be exercised before the deadline or expire worthless. I don't believe the CNR warrants convert to MTL warrants either.

@gold-miner of the top of my head no, but I expect there will be plenty. Mainly small and micro caps that are not yet on anyone's radar yet.

We all know that MTL is undervalued because of LOM concerns at Runruno. This is being addressed by acquisitions. So at some point MTL will be rerated. It's interesting to note the EBITDA multiple method of valuation.

The EV/EBITDA multiple is a valuation metric that compares a company's value to its cash earnings minus non-cash expenses. It's often used to determine a company's fair market value, along with or instead of the PE Ratio.

As of January 6, 2025, the gold mining industry's forward 12-month EV/EBITDA was 10.03X. Once things settle down with the company, this would value MTL at around US$1 Billion.

@retiredbanker I should also have noted that in 2023 free cash generated from operations was ~US$75 million at a much lower gold price.

@retiredbanker For year ended December 2023 EBITDA adjusted for impairment charges/reversals was US$82.6 million. For year ended December 2024 EBITDA is likely to be US$100 million plus, mainly due to the increased price of Gold. Personally I find miners balance sheets to be difficult, due to the ways that they treat depreciation of assets. One year there are large write offs, the next large write backs. So for me EBITDA and free cash flow are the metrics I follow.

Welcome aboard!

@Freefaller, I don't know for sure but as the Gold is sold in USD and most of the expenses are in USD then I would imagine the cash in the bank is mainly USD. For reporting purposes that cash would then be converted to GBP at the prevailing rate. So a weak pound is good for us. Was thinking the same myself yesterday, that an investment in MTL is not only a punt on Gold but a currency hedge.

@Barnard There were 1,728,216,415 (excluding 393,513,302 shares in Treasury) shares before today's vote. 1,118,061,136 additional shares were approved today by the vote. I'm not sure what will happen with the Treasury shares and I also don't know how many shares will be held back (perhaps in Treasury) to cover part or all of the CVR's. I expect we will have to wait for confirmation of all of this.

Q3 Gold sales were 22k oz and Q4 Gold sales are forecast to be 19k oz. We will beat the annual guidance of 80k oz by at least 2.5k oz. Any views on how this may affect SP? I'm interested as I am a buyer and can't decide whether to wait for the Q4 RNS. Also, there will probably be higher liquidity in the stock once the CNR holders get their allocation and I can't predict the effect and how that will impact the price.

@Slippery agreed, I shall from now on confine my posts to the MTL board which appears to be a far more positive place.

Had the price of Gold stayed around $1400 then CNR would not have a buyer and probably would now be staring at bankruptcy. So the point is mute.

@surrey - MTL were a one trick pony until the Abra tenement was and hopefully CNR is acquired. Life of mine for Runruno was the reason our PE is so low. Things should now change once the market see's La India coming into production, resource estimates for Abra and extension of Runruno LOM if/when Dupax resources are proven up. If you don't want to be part of this that's fine with me. But I believe the best is yet to come from MTL

" they're us, just seven years ago" ******, mtl has built a profitable mine and generated the cash to bail you out. mtl are seven years ahead of condor. don't blame mtl for the poor management of cnr.

@baldmark MTL shareholders still have to vote on issuing new shares for the deal. Will be a formality with 99% voting for.

First gold pour will be within 2 years, that CVR is nailed on!