Member Info for LiqMyAce

Not Amused, I think you have LOM wrong, I believe we only have 2 to 3 years left.

I'm not against them tweaking the deal, I'm sure they fully expect to do so. However, all in this is going to cost MTL ~ $150M including building the mine. You should be careful about turning your nose up at such an offer because raising finance for mining is not very easy at the moment. Anyhow, I want this deal to go through and I think we will all do very well from it, should it happen. Good luck to you.

50% of the CVR will be paid within 2 years after the first pour, I believe you will get the rest within 5 years because there is no point delaying drilling to save a fairly trivial sum of cash. Certainty of resources in the ground is more important than a bit of cash. Each 50% of CVR probably equates to 6 weeks free cash from La India once it's up and running. The amounts are peanuts really.

There are more than 10 projects in the Philippines that have been offered to us. The board have been sifting through them for the last couple of years and Abra is the first one to drop. The plan is to move the processing equipment up from Runruno to Abra once the Gold is exhausted at Runruno. In Darren's words we are the "Belle of the Ball" in the Philippines and we are the governments first choice for new mining projects. I would like to get CNR but there are plenty of other deals in the pipeline and I trust our board to make the right decisions on these.

The CVR part of the deal is simply asking CNR to confirm there is as much Gold in the ground as they say there is. If there is more then the reward is simple. I getting tired of hearing that this is a bad deal for CNR. As far as I can see, at the moment it's the only deal, without it the CNR stock price would be sub 20p going south. I would like to see this deal go through because I think it's good for MTL, but if they vote it down we can use our free cash flow elsewhere on another deal.

From a clown down the road who is invested in MTL, right now you are the one talking and looking like a clown. Hope you sell out and don't come over to MTL as we don't need nasty people like you.

Https://www.londonstockexchange.com/news-article/MTL/investor-presentation-via-investor-meet-company/16798826

Hi and welcome SpaceHoppa, I'm sure that this acquisition is going to be very profitable for both sets of shareholders.

It's all here:

https://www.londonstockexchange.com/stock/MTL/metals-exploration-plc/analysis

You will find that MTL management spend less time talking and more time doing.

@dictumdedico to your points:

1) I don't see them doing a reverse split to decrease the number of shares in issue, the idea has been floated but with no positive response from management.

2) With regards to valuation, Darren Bowden has said he wants to build a £2B market cap business. From our current market cap of ~ £100M that's a stretch I know. From my point of view, a conservative growth in shareprice /market cap would be to double every year based on the following events:

a) 2025 - Excellent 2024 results and publication of CNR acquisition rationale

b) 2026 - Excellent results again. Abra JORC resource estimate (very large copper mine). La India mine construction progress.

c) 2027 - Runruno mine coming to an end being replaced with higher production from La India. Plan to build or JV new copper mine in Abra

That's my simple view from 10,000 feet - Good luck!

Welcome to the MTL board, I'm sure we can all understand your frustration. I'm expecting you are going to be pleasantly surprised with the performance of MTL management. They will get this resource into production as quickly as possible. You will find that Darren gets things done without actually talking too much about it. You will note he under promises then over achieves. This acquisition is very important for MTL because it fills the gap between the end of Runruno production and the beginning of the ABRA project(s). Good luck.

@EL we don't own the asset....yet :)

@steveu if you prefer we don't engage then I for one shall stay away.

@numshy6 with no other binding offers in two years, you can't really say our offer is cheap. Considering the board of Condor are backing our offer, we can only say it seems our offer is fair. Bear in mind the board of Condor have also seen the various non-binding offers that we have not seen.

MTL is very profitable without CNR and is throwing off £100M free cash every year. So the CNR acquisition would make MTL more profitable once the new mine is up and running. MTL do not need CNR, but I think a deal is good for both sides once the CNR LTH's get away from the emotional side of the deal.

@ElectricLion I just bought £5K's worth of CNR (I have about £300k in MTL) so my votes will be for the deal. A small consideration I know, but I'm voting with my checkbook.

If you don't vote for it, it will be turkeys voting for Christmas. Take the deal or go back sub 20p and suffer a slow death. You will do very well from the upside in MTL.

I would imagine that 44p and no CVRs is doable by MTL providing the extra comes in stock not cash. The cash is needed to finance the mine build. Let's see, we of course are all speculating wildly.

Unless someone comes in with a knockout blow (which is extremely unlikely) I believe MTL will follow through with this and probably an improved offer. At this stage it's all about posturing. We have at least a month of hard bargaining ahead of of us.

If Mellon, Candy and Drachs have an agreement then they will not go back on it. Billionaires usually don't screw each other, it's an exclusive club that they are better in than out.