Member Info for shamI89

Think equipment and plant has cost them 140 million and they owe 94 million to lenders, ball is in lender's court now.

https://www.*************.com/views/22171/after-a-long-hard-grind-long-forgotten-metals-exploration-looks-at-last-to-come-good

By the way expect production rates to be lower this quarter as Plant is not working to full capacity.

There are some articles on mtl on share prophets by tim.I cant post links here as these would be removed but you could have a read.He has followed the company for quite some time and tipped it at 10, that is how I became interested in it as any company that was going to throw off 65 million per year looked really attractive.

Jarv I would suggest that you go through their quarterly production figures and then figure out at what capacity they are running this plant at.There is an interview on youtube as well, according to Ian sometime production rate exceed capacity and sometime it gets lower but one thing us sure that it is not 100% as at 100% capacity quarterly production would be 25000 ounces

is 730 per ounce which I am assuming has gone up due to intetest payments on loans, production figures are key here, if they hit target which is 100k per anum then at current prices these lot would be generating 40 million enough to pay off debt in two to three years time and with a mine life of 10 years it is cheap.But these lot seem to be stuck at 12000 ounces quarterly production figures.

anyone would want to short aim shares as these shares tend to be highly volatile.Shorting only works for stable ftse companies.

Cheap can always get cheaper.

They would get the refinancing sorted as their shareholders hsve been really supportive , however my area of concern is their inability to generate any cash flow as these lot have not been to produce more than 12000 ounces of gold per quarter.Everytime things look good, they encounter some problem and we are back at square one.

Please give it rest as I dont want to burden your precious little brain.

By the way this share has been very illiquid so very small volume is needed to move the price up and down and that is why it was targeted by well known p&D crew.

Or Cameron & co are dumping the shares to get in cheaper or manipulate shareprice.

Refinancing deadline is 31 December, ideally they would want to find a new CEO before refinancing deal is announced.Historically speaking these lot had loyal shareholders who have been bailing company out but company has been unable to hit targeted quarterly 25000 targer.

These shares have been dumped now by usual suspects after their efforts to pump these have failed.

Not really share was trading at 3p when this relentless selling started and it was tradibg at about 10 two years ago.

Do me a favour and go through their RNS and you would find out that these lot have been in advanced stages to sort out refinancing with lenders.They have to fork out 50 million.So Placing is unlikely any kind of other deal would wipe out existing share holders for sure.

I have gone through all of sells and have not seen a big sell which shows an institutional seller.Mind you iis own 90% of company shares and only 10% is available to public.This is very illiquid share and is not traded often.Think it was private investors selling

that refinancing deal these lot are trying to conclude has been nogotiated for two years and has not yielded any result yet.They are meant to be paying 20 million at the end of January as well, geberally speaking anything above 13000 would generate enough revenue , company targeted 100k ounces of gold per year, they have been producing about 11/12 k per quarter and at that production level, these lot cant even meet running costs let alone paying off any debt.They have been trying to improve production but there have technical.glitches one after another.It has got to the point where it looks like that current management is not capable of doing anything.Think refinancing deal was conditional upon production improvement and that has not happened yet.If these lot dont have any refinancing sorted by end of this month then these lot are bust and that is why share price is so low.Mind you current set up cost them 140 million and candy brothers had significant holding in it and tried to take it public ar 13p.Current share price is 0.6 but ball is in Lender's court.

There is a difference as this chairman has been at helm for sometime and if he has resigned then that means that things cant be changed or improved, does not look good when you have to carry out refinancing at the end of the month

Have bought these today have idea of how serious things are, this looks undervalued as it is producing 50k ounces of gold in a year at 850 but it is not generating enough money to pay off existing debt and fund liabilities.If refinancing is not done by 31 then this comany is in default