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I imagine there will be a few holders in need of cash that may withdraw some funds, they will though imo be small in number.
I think given the security a restructure will provide alongside the higher gold price MTL should (at a minumum) see the 1.9p we tested earlier this year before the mention of debt for equity was brought up.
An interesting Q2 results, despite lower gold production they actually produced more free cashflow. £10mil up to 31 Augaust so that means they’ve built up their £5mil operational buffer needed now.
Good to hear the dump trucks purchased were received and the repairs to the old ones complete bar 1. This should result in lower costs despite the lower production.
Overall I’m happy with the Rns.
Remember this was at 1.9p based on the prospects of a successful debt restructuring whilst there was on going concern about a default.
So, with the right conditions there’s no reason this shouldn’t be above 2p.
Obviously there will be some people in need of cash but what I’d say is give it some time before even contemplating raising funds.
To all those who doubted me yesterday there you go.
It’s extremely disappointing the two shareholders couldn’t agree/didn’t want to pass on any debt reduction to the company and that’s clear from Darren’s statement at the bottom where they clearly told him they would.
The positive here is though with gold prices as they are and some cost reduction the debt should be repaid in the next couple of years.
Sphagett you’re just a real negative nancy aren’t you? you come across as extremely naive.
The company is suspended hence there is no “insider trading” possible.
I rang and spoke to the company directly. We’ll see what happens then won’t we...
So, guys I’ve had word that an extension is expected to be granted.
I asked about how we’d be notified about our delisting i.e on the day or the day after. The response I got was that actually an extension is expected to br granted and should be posted as an RNS shortly.
THIS IS A GOOD SIGN.
You heard it here first.
Thomas
I believe the following sentence clarifies the situation
“ Finally, when it comes to AIM, should the securities of any company be suspended for six months, the securities will be be cancelled from trading unless an extension has been granted.”
I agree with you unfortunately, as I read it the company would be forced to delist by AIM themselves for failing to publish their annual results.
I don’t therefore believe that any notification is required to do so.
As I understand it unless AIM grant an extension they will delist us.
We’re all aware of the current situation and we wait to see how it plays out before we take any further actions. The company and major shareholders are aware of this.
Worrying will currently get you know where so just wait and see what happens and then we as a shareholder group will discuss next steps.
It appears that MTL are currently hiring to fill 4 vacancies at the mine.
https://www.jobstreet.com.ph/en/job-search/jobs-at-fcf-minerals-corporation-runruno-quezon-n-v/
Gives me some hope.
I think more frustrating for me is the radio silence from the company.
I think we’d all appreciate them coming out and addressing the deadline and confirming whether or not they remain in negotiations and indicate whether an outcome was potentially achievable.
I appreciate they can’t disclose the discussions but they can inform us they’re not all dead at the wheel.
If.... and its a big if we do come out of this the other side, our market cap is 15million at 0.73 a share.
If you compare that to AAZ who generate similar ounzes who are on 171million then you kinda get an idea of where it could go.
Even taking into account the current 130mil debt if no reduction you’d still expect to be at 1.6-1.9p a share
So many overlooking the bigger picture here. The Ri to pay down debt is good for the company long term, better security, more profitable given less interest, less reliant upon creditors.Overally the companies value given less debt will increase so despite their being initial pain, long term there will be more funds available paying down debt even quicker.The BP asset is a good buy as its value generative.I agree the RI ought to have been done sooner though in the 40/50ps.
I wish i could Pm you but I can’t seem to work it out on my phone.
Please email les at mtlsag25@gmail.com and Include your first and last name, size of share holding and who it’s held with. I.e Halifax
You don’t need to include anything else at the moment.
Yes please ensure everyone responds to Les asap so that the nomad can confirm our share holdings.
I believe this is the first confirmation we’ve had that the two major shareholders have even being discussing the issue or acknowledged our existence. It’s a step non the less