Member Info for PuzzledPete

Old boy. You don't really think tuppeny ha'penny traders will ever be flushed out do you ? They're the majority in this bottom, completely unregulated and unresearched end of the market

Yes. I agree with you. The truth on here is seen as 'deramping' which isn't allowed !

Not much money. Don't forget that a company's NAV (usually copied by brokers) isn't a guide to what an investor should pay. Its an internal measure used to compare the value to the company. compared with its cost of capital. A buyer would pay a lot less, because also having to pay the buying price. Ditto an investor should pa y less., because he wants/needs a return on his investment much higher than what the company needs to maintain its business.

Can't be bad for who ? Don't forget the original Mast shareholders, once all the warrants are taken up and cashed, will have been robbed of 97% of their original share of the company, in return for a paltry £13.7m mostly to rescue Mast from insolvency. That's a paltry 3.5p on the new share count. Meanwhile the warrant subscribers, apparently a small clique of chums of the Puerto Rico and Canadian 'advisers', if cashing now, will have made a staggering £480m profit on their £13.7m investment. (Not that they'll be able to offload them all at that price). But you get the drift. Not many people seem (yet) to have tumbled to that. But you can be sure the FCA soon will, and while you might be happy to have played your part in cheating the original shareholders, you can also be sure Mr Krugel won't be, once he feels either the FCA;'s or the City of London polices' hand on his shoulder.

Streaming or offtakes usually put off potential buyers. The FNV deal was unusually beneficial to Solg, but any follow-ons might be less so. If that puts a bid out of court, so much the better for long term Solg holders. Will be far more profitable, and not much further away, than any feasible bid now.

Did you keep coal in the bath ? And did you sleep in a shoebox in t'middle of the road ? Looking forward to your memoirs.

"This can jump 30%" - oh really ? It only needs Met1 to bag an instant £10m profit from one of its sub £100k deals. That would be really a mark of genius. Is there genius on the board ? If so why did more than half of them 'jump' ship only a few months ago. We await your explanation. So Kind !

How many times have I seen that on these boards. Strangely, despite lounging on a Bermudan beach, these posters seem to om e back on here as regular as clockwork.

Anyone who posts more than 4 posts a day on average for 7 years can't possibly spend much time actually researching any company in depth - particularly a miner. Attention seeking is the only explanation.

Anx. Ever looked at the share numbers and prices of companies whose 'market cap' has increased over time ? Do you understand the connection ? Thought Not.

I have it from a shorting specialist. They won't touch Mast

Yes, I've warned the FCA before about Mast's prospectuses and they did nothing. This time I've already prepared a dossier which they won't be able to ignore. Willing to collaborate with anyone else, and the Oak Bloke, if only I had a contact.

Off topic. But I see the arch chartist charlatan Zak Mir is mumbo jumboing about the shares as if a normal situation where a torrent of new shares isn't coming down the line. His absurd chart targets would imply a market cap of over £100m for a lossmaking tiddler, but another reason some idiots are being drawn in to the shares.

After the consolidation and after just the 125million pre-paids are executed (Mast has received the £5m less £2.4m costs) there will be a total of 138 million shares . So there are another 100m or so still to come. That's the tsunami the buyers seem ignorant about. If all the cash warrants are taken up (producing £10m) there will be another250m shares. That's what tots up to assets per share of only 2.9p - which is the price they should eventually get down to. The ignorance of buyers now is astounding.

If I were a warrant holder, not cashed in yet but scared stiff the share crash will deny me my eye-watering profit, I'd mount a concerted campaign to buy enough to pump and buy the shares before I dump them. At Metals One, the pre-paids were held by only five investors (all sourced by friend MavDB) so maybe the same here easy to collude. Phase one of the 'rescue' pump probably behind todays bounce

You haven't done your research, or your sums correctly. Even after all the warrants are exercised there will be 388 million shares in issue, and Mast's net assets will be about £11.2 million of which £3.5m has gone for Bordersley and some other debts, and £3.5m is fixed assets - ie it will have only about £4 million net cash which would buy about 5Mw of plant and no more. Net assets per share will be 2.9 p. Are you really going to pay 20 times that ?

Not only that, but what will come to Mast from the gens will be after Riverfort and Powertree take the major portion of it and after whatever loans are still o/s are paid off. Mast itself is haemorraging nearly £1m pa in overheads, and doing the sums for what we know of the gens performance so far, Mast will be lucky to show a £2m profit in 2026 (after a big loss this year). Thereafter any new gens will have to be financed by outsiders (because Mast hasn't the cash to build them) who will again take the vast majority of what they earn.

If you've been following what Krugel has been saying ever since listing in 2021, you'll know that it bears no relation to what he actually achieves, and the reality. Just compare what I've just shown you, from published accounts and figures, with what you have just repeated from his words.

Some on here, and whoever is still buying, just don't understand the company or Krugel. |They'll end up being busted just as he probably will be for the scam he has just gone along with.

Mast was desperate for the warrants to succeed and is almost certainly behind the fake press puffs, planted by the shady Canadian Fairfax Partners PR firm to whom Mast paid an eye-watering £2m fee to 'spread the word' in N America. Mast was bankrupt otherwise, with no one else willing to bail it out - and still is with just the £3.6m raised from the pre-paids, because it still needs most of the cash warrants proceeds to avoid oblivion. If the shares fall too low for cash warrants to be taken up, it will be toast. Before the scam, £3.5m of Mast's £1.2m negative net assets was fixed plant. In other words it was insolvent to the tune of £4.7m. (Auditors reported 'material uncertainty re going concern - ie unable to pay its debts). With another £1m loss this year, and most of that £3.6m slated for Bordersley and other debts, it will still be insolvent to the tune of at least £5m, so desperately needs at least the first £5m cash warrant tranche, while only the full two tranches will get it into the black. Meanwhile the gen plants are in hock to Powertree and Riverfort, and after their shares and loan repayments their will be little over to meet Mast's £1m pa overheads for a long time yet.

With this debacle finally revealing Mast for all its deceits and unviable business plan, and leaving it with a monster 390m shares in issue, there will be no more mugs to bail it, out even at the bottom of the City's bucket shops.

All this posted here more than a week ago.

Any CEO who allowed this to happen should not only be sacked but prosecuted.

The usual 'intention' to expand. But the usual lack of info how it's to be funded. Conveniently announced before another intimation of the approaching share torrent. Bet the rampers won't take note that even Kruger's company stake (ie share of value) is down by 29% just from this small part of the tsunami to come - and that it affects them as well !