Member Info for SurreyNot123

CNR is well known for its ability to fritter away it's funds on CSR, so looks like a decent alignment!

Snore.

I won't be voting either way until the bell.

What happens if the deal flops and CNR doesn't come through with any MTL shares?

Also fulmar - yea what's your problem, man.

EL's contribution here is balanced and supportive of the current trajectory.

Take some time out mate and don't project so much.

EL, you're correct. When the sale of the asset was announced I thought the board would have sold at a price somewhere at least on the road to NPV. Not just effectively switching one BOD out for another to take the effing thing to production anyway.

Why didn't they just outsource the operational elements out a few years ago? What were they thinking?

LMA, as I said before - I don't care for explaining my position to you any longer. I've been frank about my average and my holding for years, with other PIs whose contributions I think add value.

Again, depending on the structure of your investment vehicle you may not have to disclose.

Why would i lie about this. Use your noggin. I won't address this any longer.

Interesting.

Cheers CF

Before the deadline. Even.

You get it

MTL price holding up, I see.

(LOL).

Yes. Wait.

You'd be an idiot to vote before the sale's happened.

after reading some more this really does echo the sentiment of the new holders that emerged ca. 2015.

a case study in drawn out process and wasted funds only to flog for peanuts to your mate over a beer at the footman because you can't be ****d to navigate a more fruitful sales process.

chubb situation is laughable.

the mill, is laughable.

the csr and associated costs, laughable.

this deal is (drumroll) laughable.

i will not be convinced otherwise. and continue to wait on the sidelines for both jim and calibre to grow up and pull a chair up back at the table.

mtl, chubb and candy....laughable.

Lots of new faces on the board.

I'm voting against the deal.

Because it's a 5H1T deal. You're all gaslighting yourselves into thinking it's alright.

And it's not.

Do better, Jimbo. We're all.the same boat, after all.

MTL are set to receive a dirt cheap lifeline.

I'm voting against the deal.

Whole thing is a complete 5H1T sandwich.

I sincerely hope you've emailed Hannam. Verity and CoSec with your opinions.

If you don't want MC and JM to stink up the MTL productionisation I suggest you sell or make your voices heard.

I've messaged and reported Hannam - who are charging us £1.5m to sell the company to a company on which their metals consultant is a director.

Absolutely stinks, this whole thing.

How to take money from PIs and get it into OUR POCKETS 101.

Think I saw the chubbster at Leadenhall Market on Thursday, actually.

No lie

Can't help but eyeroll, LMA.

We could have been in this situation presently, if we hadn't farted about for the last 25 months.

Forgive my displeasure and scepticism. But you sound like many of us from 7 years ago.

Another fair point broom

Thanks for the feedback.

Yea I've read the clause/inclusion multiple times and it's unclear - so agree it might be with the broker to confirm.

Again though, after reading and rereading the term/s I feel it's highly unlikely that anything will ever be paid out off the back of the CVR commitment. There's nothing binding, and as an exec team they'll be compelled to just nip it in the bud, most likely in a year or two.

This is actually quite close to my line of work, and if I was presented this as part of a negotiation where I was representing shareholders'/my own financial interests in this transaction, I'd laugh at the suggestion as its completely immaterial and an ultimate non-commitment.

Playground stuff, this, with "IOU's". The closing line to the term is quite literally, "but theres no guarantee this'll amount to anything, soooo....". And then doesn't elaborate further. Really doesn't feel like a professional negotiation at all so much as a obfuscation, and a "reason" to justify the god awful paper offer.

The whole thing's an absolute insult.

But yes, I'll reconfirm with Bell and HL, see where we land.

Question - if you sell MTL do you waive your right to receive any funds under the terms of the CVR later on?

Perhaps you should have consulted on the sale, Simms.

Your optimism certainly seems less hollow than Mark's.

I rewatched the interview today - it's truly appalling. He deffo seems out of his depth and unhappy with the current scenario, though can't afford to not tow the line.

Geezer should be back in the UK, not fasting around in CA. He's got no business being anywhere near this deal for any longer.

LMA - it's like you've never met someone that understands how to structure an investment portfolio before...

Depends on the circumstances of what's being held where and by whom. Who's to say I don't head a consortium?

Either way, I don't owe that explanation to you .

I've just done the exact conversion. My MTL allocation will be just over 18,955,000 shares.