Member Info for LiqMyAce

David Cather is also a director of Galantas Gold which has been a complete disaster. Not happy to see him return as he sat back at Galantas whilst the CEO spun a web of lies to raise cash whilst the stock price plunged. Not sure why we need him back?

Our Technical Director Xiaofeng Zheng who has a PhD in flotation, appears to be a very strong expert on Copper flotation as well as Gold. The success of any company is based on the strength of the team. Darren has assembled a very good one.

So it appears that the company is now very keen on exploiting the copper prospect rather than going for the small, low cost, quick start gold prospects. Interesting, Darren is no fool, I believe this copper prospect may well be company changing. However, it will probably take 3 years to get into production and require large capital investments. Do you think the company is up for a big project like this, or will they joint venture with someone bigger?

I believe that part of the reason for this mis-pricing is that the market is focussed to a large extent on MTL's profit mainly being driven by the release of provisions, when in fact the market should be focussing on the positive cash flow. Miners balance sheets are always a mine field!

I think you will find their percent holding has gone up due to the RHL shares going into tresury. I don't think they have bought more shares. All of our percent holdings have gone up due to this.

WIKI - Treasury shares are essentially the same as unissued capital, which is not classified as an asset on the balance sheet, as an asset should have probable future economic benefits. Treasury shares simply reduce ordinary share capital.

@Tygra that may be so but treasury shares are not assets, Google it and don't shoot the messenger...

@Fulmar29 Treasury shares are not assets. Shares held in treasury are recorded as a contra account against total equity, at their cost of acquisition.

Now trading under 6p. Thank god I got out of this train wreck just under 10p...

With physical Gold looking like making new all time highs it's only a matter of time before this feeds through into the price of high quality miners. Runruno life of mine is holding us back at the moment, but a good Q3 and a positive update on the Abra resource in the coming weeks/months should finally give us the momentum to push through that stubborn 6p level. I'm thinking 10p is a bit of a stretch before year end, but that will come once we have some JORC compliant resource estimates and a mining plan for Abra.

RHL stock will be bought back by the company at the end of the month. Why would RHL now be a problem?

Hope the door does not hit Guy Walker in the A$$ on the way out!

Ooops Agra should of course say Abra :)

I think Agra will prove to be a company changing asset:

1) Darren helped finance the project with his own money.

2) Darren has said already that there is more resource there than originally thought.

3) Malilibeg South has around 300k ounces that Darren has decided not to mine, due to high cost of recovery. I trust Darren and if he has decided that Abra is worth the investment then it will likely be highly profitable.

An investment in MTL is an investment in Darren Bowden who so far, has done a great job for investors. I for one trust his judgement.

I'm not challenging you on whether a buy back is positive for existing stockholders, of course it is. Just letting you know how treasury shares are handled on the balance sheet that's all. I think the move from 4.5 to 5.5 ish over the past couple of weeks is the expected adjustment in price for the reduced number of shares in circulation.

Treasury shares, also known as treasury stock or reacquired stock, are equity instruments that are listed as a negative number in the equity section of a company's balance sheet. They are not recognized as financial assets and are not considered a liability.

Was included on last RNS, but another for confirmation would not hurt.

Shylock is gone (or almost gone), with now no representation on the board. I truly believe we can start moving forwards quickly without Edwards's greed dominating the conversation.

So where is the next traunch of cash coming from? Losing a million a quarter with £300k left in the bank. Once again nothing in the release about production. Sell this dog...

Recovered 100% of my Galantas losses by selling GAL and buying MTL in 3 months. You should consider doing the same.