Member Info for LiqMyAce

@Slippery1 yeap...

Seeing a lot of speculation on both boards regarding CVR's. A couple of points that spring to mind:

1) Why would MTL embark on this acquisition and then not build the mine and processing plant? Seems to me that the first 50% is nailed on as I believe the new mine will be in full production withing 2 years.

2) Additional Gold in the ground - If CNR believes that there is a lot more Gold in the ground then MTL will be motivated to find it. If that Gold can be added to reserves then the share price appreciation will be far greater than the trivial sum required to pay the second part of the CVR. In my view this has a 50:50 chance of payout.

So the warrants are in the money at an MTL price of 6.045p. MTL gets the 6.045p per share on exercise.

The warrants are good for MTL as, if they end up in the money and get exercised, MTL get the cash from the issue of new shares at par.

@angybadger if you have not seen this already, confirmation of most of what I have said is here: https://www.youtube.com/watch?v=-O5UOVAtpYw

Disclosure: I am an ex MTL holder who sold out and put 100% of the proceeds into CNR. In the early days of MTL an inexperienced management team set about building the Runruno mine. Building the mine cost a lot more than expected and 2 years into production they could not get recovery over 50%. MTL were in the process of going bust with $180M debt and no prospects of paying it off. If I remember rightly the share price went down to point eight of a penny. The shares were paused and could not be traded. Luckily, we had a couple of billionaires on the register who bought out the loans and hired Darren Bowden and his team. Within a couple of years recovery was over 80% and is now closer to 90%. This year the debt was finally paid off and MTL are now generating ~$100M a year free cash. The point of this very long winded post is this, if anyone tells you it's easy to build a Gold Mine don't believe them, it is very difficult and likely your own inexperienced management could not have done it and you could well have gone bust just like MTL almost did.

At least MTL does have one trick plus a lot of cash flow, I'm afraid at the moment you have neither...

@pedro as an MTL holder, I think you are in a minority of one. Except for you I have not read of any MTL holders being against the deal. MTL needs this acquisition as there will be a several year gap between the end of Runruno and the beginning of Abra. The mine at La India will fill that gap nicely.

In Darren's defence, he's a master Gold Mine Builder/Operator not a PR consultant. I think the details are well laid out in the presentation though.

I bought a few more, now up to 683K

Thanks for the good wishes @broomtree, if Calibre come in with a better offer we have the option of selling before any deal or holding to completion however, I don't expect any other offers as your Chairman is bound to vote them down. But it's a good point

@Overdog, well done, I'm thinking we are on a similar strategy as I wanted to get my trades in today.

Well done @Overdog I traded a few more, I sold 3.3M MTL at similar prices to yours and bought 630k CNR again at similar prices. Interesting My trades are not showing up yet on LSE. Liquidity has taken a dive on MTL, can't even sell 100,000 on Hargreaves Lansdown now.

Just sold 1.6M MTL and bought 250K CNR, still holding 4M MTL. That's as big a risk that I want to take right now.

@connect1, so you are here to post your own opinions and criticize those of others, got it thank you.

Well done @Overdog, what size of trades did you achieve?

If there were more liquidity in MTL and CNR, I would be selling MTL and buying CNR for a nice little bonus when the deal goes through or if CNR receives a higher offer. Unfortunately, the lack of liquidity prevents me from doing this, too risky.

Sorry, @barnard should read @Connect1

@frenchie38 and @barnard it's fine for people to come to these chat boards to share opinions/predictions of a company's prospects with like minded people, or indeed non like minded people, which begs the question why are you both here?

The new opportunity close to Runruno is a very pleasant surprise. Darren usually does not talk about things that are not significant and nailed on...