RE: Drachs25 Jul 2025 17:28
I think it's important to remember that most ex CNR holders were not unhappy with the project at all.
The upset and anger in some quarters came from the messaging from CNR over a tedious 2 year sale process (that also came out of left field).
In particular we were led to believe that we would be heading for a "cash sale" from a largeish outfit and that the sale price would be $100M to $200M.
This figure was repeated over and over...
This would have equated to a cash sale of 40p to 80p per CNR share in very rough terms.
Most people had reconciled themselves to that whether they were happy or not!
To then receive 9.9p per CNR share, some dubious pieces of paper called CVRs and 4 shares in a company we'd never heard of was something of a bitter pill to swallow for many!!!! ;-)
However, as Surrey has eloquently pointed out, we have now had time to do some research on MTL, gain confidence in the team and slowly realise that the project we all hoped for in Nicaragua may now actually happen.
Better than that we remain part of the journey that some started many many years ago rather than told to toddle off with our 40p into the sunset.
The grieving process naturally takes a while so it's taken most of us a good while to get to the other side and be excited about the future.
Thank you for your understanding. GLA