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LSE chat been offline most of the day same yesterday
Spag, MTl was 0.75 prior to suspension at times last year it dropped to 0.4, when it came back it spiked to 3.4 that's a 750% increase for anyone who was lucky enough to buy the bottom and sell at the top.
Talking about when the stock was 30p years ago is immaterial that was prior to the raises to construct the mine, bank loans and placings, mezzanine loans etc.
I've no doubt that we will be far higher in the future than we are now but it's gong to take time (unless the further exploration get underway quicker)
Spag why didn’t you just sell out at 3.5 it’s never going to get to your target of 50p
For those looking for some more info the corporate presentation jan 2019 is worth going through it details the exploration upside because at present MTL have only explored 15% of the area, similar mineralisation has been found south of the current pit and potential extensions to the north and east.
Also worth looking into Darren Bowden who has effectively turned the company around in the last 18months - previously CEO of Minesa, Nyrstar and Glencore the guy is world class.
From Proactive:
Enter Metals Exploration, who optioned the project in 2005 from FCF Mining Corporation, to earn 85% by completing a modern pre-feasibility study. Metals Exploration started by delving into the historical data and the result surprised many: Runruno is, in fact, an alkaline diatreme - or flow dome - deposit, a rare type of deposit which happens to be geologically similar to the 23 million ounce Cripple Creek Project in Nevada, USA. No one, including yours truly, is suggesting that Runruno is a 23 million ounce deposit, but the similarities with Cripple Creek are intriguing.
Good to hear Roy hope your keeping well
Evening all, well i've checked my mystic balls :)P and i hope we will end up just under 2p at tomorrows close although i would settle for anything higher. I am hoping that 6-12 months we will be in the 5-7p range but if Bowden gets on with the additional drilling and exploration and we hit some bumper grades then all bets are off.
looks like it could be a couple of weeks yet ):P
37.8
36.9 to buy now
It's always been the same with ii Roy, i've checked over the phone before that my vote was logged on a different stock and the first time you vote it gets logged subsequent votes don't count even though it still gives you the option just a glitch the have never bothered to get fixed.
yep Spaghetti you'll be able to have lobster and chips on Friday 23tr :P)
Sorry Cv I don't have premium so no access to dm's
i was close 1.3mill out, don't forget they had 5mill fcf from the previous quarter, overall though considering all the covid stuff going on not too bad.
Share price collapsed to 0.72 prior to the suspension giving a market cap of 15mil, Q2 figures were given at around 10% drop against Q1 production 17,000@ 1580 average but the upside in gold to around 1750 during the quarter should offset this so it should be around the same level as Q1 sales which would leave fcf of around 5mill, i'd hope that the share price would settle back to the 1.5 - 2p.
If Bowden can get the plant up to speed to circa 19000K per quarter and gold stabilises around the 2k mark we could have fcf of around 13-15mill per quarter which would go a long way to getting the debt reduced quickly.
Thank you Les for all your hard work over the past six months, truly sterling job.
Now we have a clear forward path and the threat of de-listing and defaulting is lifted it's all over to bowden to get the plant up to speed and get those additional areas drilled - onwards and upwards
Quite a lot needs to happen prior to any company delisting, none of which has occurred so far spaghetti you might want to go back and read Les most recent email again?
Rule 41 of the AIM Rules sets out the procedure for delisting. In summary, a company that wishes to cancel the right of any of its trading securities must:
notify the market through a regulatory information service of the proposed cancellation date;
notify the London Stock Exchange (the “Exchange”) of its intended cancellation and its reasons for cancellation including its preferred cancellation date; and
obtain shareholder approval.
The notification to the Exchange should be made by the company’s nominated adviser and should be given at least 20 business days prior to the intended cancellation date (the 20 business days’ notice requirement is a minimum).
Any cancellation of a company’s securities on AIM will be conditional upon seeking shareholder approval in general meeting of not less than 75% of votes cast by its shareholders present and voting (in person or by proxy) at the meeting.
The notification to shareholders should set out the preferred date of cancellation, the reasons for seeking the cancellation (for example annual fees to the Exchange, the cost of maintaining a nominated adviser and broker, professional costs, corporate governance compliance, inability to access funds on the market), a description of how shareholders will be able to effect transactions in the AIM securities once they have been cancelled and any other matters relevant to shareholders reaching an informed decision upon the issue of the cancellation.
Cancellation will not take effect until at least 5 business days after the shareholder approval is obtained and a dealing notice has been issued by the Exchange.
Yep 7th on Monday 8th on Tuesday and 9th on Wednesday
it could be but i don't think the main shareholders have got where they are by not being shrewd businessmen - you have to remember that only around 15% of the area has been explored and test drilled to date, it would make far more sense to get the plant up maximum operational efficiency, explore the area fully with test grades etc then look for a buyer down the line.
9th March
Until the fat lady sings i'm staying positive, you never know what the outcome will be - this time next year we could all be millionaires