Member Info for LiqMyAce

@Sun I think you will find the MTL meeting is on the 9th

Disappointing that the clowns running CNR cannot get an RNS out swiftly confirming the outcome of two fifteen minute rubber stamping meetings. As prices have not collapsed I'm assuming the resolutions passed. Surely they are not waiting for markets to close to release information that by now is already in the public domain?

You have to be a little bit careful about MTL's profits as some of last years were a write back of previous years write offs. Miners balance sheets can be difficult to fathom. However, I tend to focus on free cash flow as this can't be affected by balance sheet adjustments. As we all know MTL's free cash flow is excellent. I'm hoping that Runruno mine life can be extended with Dupax ore, if that happens, in two years time with both Runruno and La India producing the free cash flow will be amazing.

I bought MTL as low as 0.8p and my average was 2.1p before I sold 5.5M MTL and bought 1M CNR. MTL has been very good for me. I did make a loss on a gold miner Galantas, but luckily I sold that and reinvested the proceeds in MTL which made back my loss in about 4 months. Those are the facts.

I would not disagree with you, although my view is that by the end of 2026 20p may be a bit low if all goes to plan. But who knows?

Then you will have voted this deal down then, we shall get the views of others tomorrow when the result is announced.

If you made some money then good for you, just stop bleating as this "not a great deal" is the only game in town.

There's a reason why Darren earns more than 5 times the amount of Childs. Over the next 18 months or so CNR holders coming across to MTL will find out why. Did anybody seriously think that Childs was capable of funding then building a new mine at La India?

@Broomtree, with respect, bleating about this being a bad deal for CNR shareholders really doesn't wash. Anybody that invests in an AIM gold miner should expect to lose money 9 times out of 10. The MTL deal saves CNR holders from complete wipeout because bankruptcy was awaiting (or a poorer deal), if MTL had not made an offer. It's a good deal for both companies as MTL needs proven resources to mine and CNR needs somebody to fund and build a mine for them.

Apart from the obvious arbitrage, the easy money will come from the CVR that pays on first pour. That's nailed on!

Will be interesting to see how many CNR holders will sell MTL after completion, increased selling volume may lead to a temporary dip in MTL (I hope as I'll be buying more), before the extra volume washes out and MTL can start to gain again.

" I do feel a bit grubby though backing a Candy financed operation." Mellon makes Candy look like a saint!

Happy New Year to all, and a sincere welcome to our soon to be newly minted ex-Condor investors. The next couple of years and beyond are going to be very interesting! I believe the La India mine will be transformative for all of us.

If the message boards are anything to go by, the Condor acquisition is going to sail through. Post acquisition, 2025 may be muted (waiting on the new mine build to progress and the Abra/Dupax resource estimates), but 2026 in my view should be a humdinger. Long term holders can look forwards to handsome rewards once the enlarged multi asset MTL appears on the radar of serious mining investors.

@EL yes, I was not addressing the tax question, only the likelihood of the CVR's paying. I don't need to worry about the CGT as my holdings are in a HL SIPP.

50% of CVR is nailed on as it's paid on first pour. MTL is not going to buy this asset and not mine it. I would discount the other 50% though.

@bertmonkey, somebody will correct me if I'm wrong but my understanding is we need 75% of those who vote to vote yes for the deal to go through. A competing offer cannot be voted through as the board's 28% are bound to vote against any other deal. Se we still need a 75% yes vote for the MTL deal to go through.

If the deal flops and the CNR price goes back to sub 20p then I lose money. I'm fully aware of the risks of investing in AIM mining companies. But with no other deal on the horizon only a fool would vote this deal down.

@tomamara I sold ~ 5.5M MTL shares and bought ~ 1M CNR shares after the deal was announced. I did this solely to benefit from the arbitrage and the CVR's. I will get back ~ 4M MTL shares and around £100k cash, my plan is to either reinvest that cash in MTL, if the price is right, or diversify into something else. Either way I will remain a long term holder of MTL because I believe the company has a plan and massive potential under the management of Darren Bowden. I have voted yes for the deal.

@tomamara, I did not know that, thank you for the info.