Member Info for Smoothbrain

Except short attacks happen all the time, easy with small cap, and often looks like a step ladder as it triggers at various stages. Almost identical to yesterday which is again suspect.

Even with concerns you have listed, every single dollar of gold sold now is profit. Add to that it is highly unlikely you are here for a sense of civic duty given, so why so invested JW? Shorting?

I personally think this is an intentional effort to push down share price, which then triggers stop losses (like mine) and then it tanks further.

Pushing a company with no mining capacity and no capital generation vs a company with a guaranteed generation and return is hilarious, and that you contradict yourself on different platforms means you are someone not to be trusted. Shame this board doesn't allow us to block toxic participants.

@JWBellamy

A company that isn't mining anything yet isn't really ready for investing in. It's a gamble until any value is generated, and even more until profit is reached. There is a reason why BMV has its own board

I agree, but I would be surprised if BMV is interested in selling given the contracts they supposedly have lined up?

Price is downwards and matches lower end bid for some of them at the time so I guess sells.

@nimrod22

Agreed. Reminds me of the recent drop in AAL based on delayed copper output - transient dip that paid off well. Hopefully same again here.

Also, is anyone a premium member? If so, is there any variation in the number of trades visible?

@the_shareminator

Agree with your statement, but the board and most senior members including the debt holders and DB are also shareholders. That the debt was contested on completion was essentially impossible to predict, though the rate at which the repayments should go through should not be contested because why would any sane person not clearly document? I agree that is a huge screw up, most of all so because it calls into question other elements of company structure that were taken for granted with the assumption that they ran a tight ship based on previous targets being met and communicated appropriately.

However, MTL does have a good track record to this point of output and productivity so hopefully this is a blip rather than an unraveling. Even with the higher interest rate payment it should be deliverable so the outstanding debt should not stop the company working nor expanding as was the previous plan.

Also bought more.

I love looking at the list of trades when it says unknown. The difference between the buy and sell prices makes it easy to work out whether it was a sell or a buy. Seems almost all buys which makes me wonder why price is sticking where it is currently.

@darientaylor

Agreed. Best take this as a suspected loss for now, allow them to compete it internally and if it returns to our pockets later then ideal. It is poor form to not have any of this documented, particularly considering the value of sums discussed and the duration of the repayment deal. However even informal deals can be enforced in court, though the difficulty is in proving what was agreed.

I reckon some of this push back has come from the fact that debts have been repaid faster than they anticipated so are probably not extracting as much money as they had hoped.

I would rather as much mine expansion land as possible is bought with the current expected output and stabilise a larger business less focused on gold alone.

Pretty sure you said that last time and total mined gold and recovery went up. I fear the day when you warn us about good results.

Https://www.bbc.co.uk/news/world-asia-68852451

This weather should make mining even more efficient if not having to stop for traditional rainy season disruptions.

Https://metalsexploration.com/wp-content/uploads/2024/03/MTL-Repayment-of-Debt.pdf

"RHL Group advisers have communicated RHL Group’s belief that the higher 15% rate is applicable until repayment,

which potentially amounts to an additional US$1.9m owed in interest payments to date. The Company disputes this

figure and believes it has relevant documentation to support its position. Discussions on this matter with the RHL

Group continue and further announcements will be made in due course, as required"

All very positive. Only snag is the increased interest rate debate on the 30% still has us on the hook for near enough 2 million USD. Would be good to resolve this ASAP, and hopefully plow full steam ahead into purchasing as much land as possible for future mining.

I want this share to delivery well into my pensionable years!

@Bitsub

It's even funnier because it's a 50/50 guess that they keep getting wrong.

Hey, if anyone wants to listen to JWBellamy feel free. I was hoping to get a little more topping up in at a lower price.

I'm still wondering about stage 4 to 6 mine expansion. Exploratory drilling for stage 4 was due at end of 2023 and so far no additional gold uncovered, but they hadn't finished exploration by last interim results. With further stages still in pipleline and MTL keeps this info close to the chest almost the whole time so would be good to know.

Mining 2 sites is certainly better than 1, especially if infrastructure is already there and it is simply expanding existing operation.

@Lee

Thanks for clarifying, I thought that the deal had gone through fully rather than awaiting further agreement in June. Still, I would hope getting more plots agreed now would be best if mine life in Runruno is not predicted to last, though stages 4 and 5 may still yield potential as well as additional site purchases.

I see this as a share to sit on for as long as gold has value to people if all goes to plan.

@leehardcastle

Agreed with the statement, but all cash profits is after capital expenditure. Asset purchase would still go ahead before cash profits used to address remainder of the debt pile, as has already been demonstrated with Abra tenement purchase