Member Info for LiqMyAce

@dayster you are correct but "provided that the Company has announced the Acquisition under Rule 2.7 of the Code by 5:00 p.m. on 4 December 2024 (or such later time and/or date as the Company and Condor may agree)" the deadline can be extended.

@ElectricLion I don't believe there will be a firm offer from MTL until late in the month, why kick off an auction this early in the process when MTL can wait and see who blinks first. I could be wrong but I don't believe that MTL would make an offer without the blessing of Jim Mellon. Your BoD can't recommend any offer until it's formerly made. I have been involved in M&A and you can be sure that, although RNS announcements are not being made, constant communication will be going on in the background between the parties. It seems that you LTH's are not happy with the direction your company has been taken by your board, I'm sorry to hear that. One thing to bear in mind is that without a world class team building a gold mine is a very difficult thing to do. MTL has experience with this, they invested £200M in Runruno and almost went bust, they were recovering only 50% of gold and the company almost went bust. Luckily Darren Bowden was appointed and he turned things around so that now the company is recovering ~90% gold and throwing off £100M free cash a year. So with your management team it's unlikely you could have built your own mine. With regard to "non binding offers" you will know they are not worth the paper they are written on! - Wishing you all the best.

With the respect to all LTH's here, the value of the MTL (of which I am a significant holder) offer is not in the present value, but in the future growth value of MTL. That is why I suspect Jim Mellon is supporting the offer (once it's made). Your emotions are telling you that you want jam today, but the reality is you have been on the market for 2 years and nobody has bought you. By joining MTL you will be getting a top management team (and the capital needed) to get this asset into production quickly. With MTL the share price has a lot of room to grow and from here you could easily be looking at a 5 bagger. There are two other alternatives: be acquired by someone bigger who's share price does not have the potential to grow like MTL's or go bust, it's clear that Jim Mellon is tired of financing these losses. I hope MTL can pull this deal off and I'm sure that the offer will increase during the process. This is a win win for both organisations if the deal can be done at a sensible price. Good luck and once again, there is a reason Jim Mellon is supporting this.

I don't understand why MTL need an immediate loan from Drachs of £5.5M repayable in full at the end of January 2025. Any offer by MTL will not be considered by Condor until end of December. If the offer is accepted it needs to get Condor shareholder approval, which will take a minimum of 2 weeks. That gets us to the middle of January. So why do we need the cash right now? Am I missing something? Is there a way this deal can be concluded in a few days or a week?

Price action today is typical of an acquisition scenario, the market shorts the buyer and buys the seller. If this does come off then the benefits will accrue to the share price once the deal is done and the rationale is published. But those of us that have been here for a long time already know that Darren doesn't do bad deals.

Condor are an exploration company, they do not have resources or expertise to build a mine. MTL has both.

We are generating the cash to fund the investment, we have a top management team to build the mine. Darren knows what he is doing, looks like this could help transform MTL into a world class producer.

Condor are going bust, they just borrowed £475k AT 20% interest. So they can't hang thing out for very long. I don't know what the correct number is, but I believe it's already agreed and we can afford it.

At the end of the day you either believe in Darren Bowden or you don't. I for one am a believer. He turned MTL around from a basket case into a high performing gold mine. If he's investing in Abra and Condor you can bet he has done his due-diligence and he see's a big return on investment. If we are to grow then buying projects with proven reserves is the way to do it. We have the high performance management team, we just need resources for them to exploit.

Also, when the "break out" does occur, I expect 6p which has been a ceiling for months now to become a floor. So a new Ascending Channel in a new range would have 6p ish as the support line.

@mattjoss in my view it's difficult to set a target for the Ascending Channel as we have strong fundamentals going on in the background. These channels usually end with a "break out" or "break down". With full year results on the horizon, a strong continuing cash generation and drilling results expected early next year I fully expect a "break out" to the upside. Technicals alone can be unreliable with a stock like this but, I'm happy when both technicals and fundamentals are in our favor. Good luck all.

I see your high is in GBP, I had not noticed that so you are probably correct. I tend to track the price in USD

I think you will find the 52 week high for Gold was around 2800 at the end of October.

For those interested in technical analysis: For the first time in years we have a strong positive technical pattern emerging. It's called an Ascending Channel which clearly shows a rising price with defined support and resistance levels. Good luck all!

Recent news: https://www.luzonmorningsun.com/probe-sought-over-gold-exploration-on-16-500-hectare-abra-ip-ancestral-lands

Darren Bowden has done a great job, no question. Sorry to interfere with your group circle jerk where nothing negative can be said about this company. You will note that after I took the loss on Galantas I bought another half a million of these bringing my holding to 5.5 million. I have little time for non-executive directors as during my time as an executive director of a NYSE listed company, I found that the main inputs of non-execs at board meetings was to eat most of the biscuits. Cather's dreadful performance at Galantas is a matter of fact! I'll not reply to more of your posts as I'm sure the thread has other things to discuss.

I stand corrected on the loan agreement, but I stand by my comment on his performance as a non-exec at Galantas.

I stand corrected.

Fact is Cather was non-exec chair when the agreement was entered into. Where does it say that Cather was not responsible for the flawed loan agreement?

Also, I believe that Cather may have been responsible for the terrible loan agreement that cost us millions in extra interest.