Member Info for taylot

A very simple explanation. Bravo. Slightly less exposure owe to the fact that the 30% of the JV has been sold cheaply. The caveat to that is that the entire land package will now be much more thoroughly and rapidly explored, T3 project will be more robust and MTR gain exposure to all of Sandfires assets. And on top of all that MTR no longer have the threat of their position being diluted which was certainly the case with MOD. Potentially catastrophically. Let the spinners spin. ATB.

Too many not able to step back and see the bigger picture. More I think about it the happier I am. Could it be better? Yes of course, but Samdifre aren’t making the offer to male MOD shareholders rich, that are a business and offered what has been deemed as acceptable - primarily because MOD had little choice. Maybe we will see an alternate suitor maybe we won’t. I’d rather SFR scrip than MOD 70c in cash. Usual morons saying they shouldn’t sell were the same ones crying about dilution, can’t win. You see how no matter what they’ll attempt the spin - agenda. Price action has been bizarre lately, funny that’s it coincides with said morons on the BB...

Yeah MOD have sold out, but because they had no real choice really?? - due to the stupid decisions they have made. They needed another raise to get to decision to mine and then catastrophic dilution at current SP to fund the equity portion. From an MTR point of view, they’ve backed it because they knew the effect the dilution would have. While the price isn’t amazing the upside from the SFR shares is (IMO) far greater than what the MOD shares would have been - because the fact that SFR can properly explore the land package while at the same time funding the T3 mine at a much more cost effective way and quicker - so the T3 royalties will come in quicker. Then we have KML, MTR will notifiable in SFR. One would assume they will be in contact with the SFR management.. so should KML price up resources I wonder who could be a suitor... You are right re the £5.45m for the remaining 30%, a little low? Maybe, but out of MTRs hands as alla greed as part of the T3 sale.

100% agree with that, I would be raging if MTR were taken out for that price. MOD were backed into a corner. MTR after this will be the ones backing smaller fish into a corner. No need to raise funds, a very liquid major asset and cash in flows. And exposure to all the upside from SFRs considerable warchest!!!!!

Good to see all the experts turning up.. who clearly have no understanding of the deal let alone the company.

Good morning Keith. Always good to read your balanced opinions. The price isn’t what many were hoping for - me included. However the responsibility for that is down to MOD management making a right hash of the MOD share price. Wasteful London listing and countless vanity presentations, they needed to drill drill drill!!! Alas they didn’t, they are running out of cash - again!!!! Could MTR have done things better? Maybe. But they have crystallised the cashless options, received SFR stock (which is highly liquid), retained significant exposure to land package upside through SFR (plus there other projects), no need to raise funds to support SFR drill program, future dividends from SFR and retained the uncapped 2% NSR. Long term I’m happy, MTR will be able to kick on, a cashed up junior with a wealth of experience in the BoD. I look forward to hearing what MM has to say and hope to hear more about KML. ATB.

Don’t think you have any idea what you are talking about. For starters MTR don’t own T3. But this deal will ensure MTR retain exposure to the development of the T3 project and by the fact that it is SFR that will develop it, it will be more profitable. PLUS SFR will have the funds to drill out the whole land package so much more value to be added. THEN there are the benefits already explained, divis NSR, liquid equity. Maybe go back to bed ;-)

Remember as well KML is a private entity. MTR will now have the option to continue funding KML and there by increasing ownership.

Those meaning don’t fully appreciate what this means for MTR. The 45c offer is underwhelming, 70-100c would have been my preferred price. Alas, read the RNS. MTR will receive £23m in SFR scrip which is highly liquid, around £1m a year dividend, capped T3 royalties at $2m and uncapped elsewhere. SFR will have the cash and resources to really kick on the whole land package. Remember MTR still have KML where they are drilling 24/7. Good news for me.

Ignore the tea boy.

I think most just see the site as a farce to be honest Joe. I have read it twice, its a good write up.

MOD share price is on its arse because of the fear of dilution to fund its equity portion. The note states there are a variety of funding options open to MOD - watch this space ;-) in turn the MTR share price is in the doldrums as without any current exploration on going the share price is even more intrinsically linked to its equity holding in MOD.

That will not be the case for ever, particularly once KML drilling begins. MTR's MOD equity portion will soon exceed MTR's current MC, so everything else will be valued at zero including all exploration licences - from the broker note "management and shareholders alike should be fearful that any bid at the moment cannot possibly take into account the blue-sky upside from this land position"

MTR have the most exposure to the KCB... lots of blue sky then..

Let the paid posters keep on posting and don't engage.

There is a hell of a lot of garbage written on this board but LGO is vying for top numpty spot with that beauty. Can only assume someone has had some afternoon beers. Not jealous ;-)

Joe are you honestly expecting a reply? More chance of Liverpool winning a trophy ;-)

Don’t fuel this clown. Not worth wasting your time over.

Plenty of scope for a re-rate is an understatement IMO. Lots of naysayers about which is hardly surprising given the market sentiment as a whole and the current share price which granted is poor. However. Lots and lots to come from MTR. Exposure the the largest land holding in the KCB being one. MOD equity soon to be worth more than MTRs current MC alone. KML soon to be drilling multiple targets alongside further MOD drilling campaigns. Then we have today’s PAM drilling news, Veta, GGP position, THR, KEMCO, Spain... The calibre of notifiable positions on the share register says it all. Follow the money as they say. ATB.

Have to disagree. It makes zero sense MOD taking out KML. Firstly they’d had to do it via equity which means even more dilution. But more importantly they haven’t even started properly exploring the current land holdings so what is the point in getting more. I maintain MOD will be sold. And MTR will be looking very very good.

Yes and him and Andrew Bell. No thanks. So 35% of Haneti given away for £125k, ouch. KAT becoming another LC shambles and now off my watch list.

Yes it is. (Cue usual halfwit response) have tried to find other occasions where he has taken stakes alongside a sprott placement but as yet nothing. Let them say what they like, him taking £1m at 1.45p is a major development IMO. Do you really think he is in this to just double his money??

Assets - yes. Management - no. At £600k market cap tho...

For those not on twitter, a question was posed "how much of #kml built into #mtr share price currently ?"

"Zero. Current MC £19m. Approx £5m in cash? Approx £13m in MOD equity? Other equity positions ( #GGP #THR #PAM Chilean gold) £2m? Plus Spain and Thailand.. So is it fair to say the 30% JV with MOD isn’t even valued into current share price??"

I am of the opinion that MOD remains significantly undervalued, the reason for this is the threat of dilution hanging on the share price. That in turn is a lead weight around the MTR share price - we do not need to provide any funds to the the T3 pit, only to the exploration budget for T3 expansion. MOD will soon be releasing their DFS, I fully expect that to be positive and the decision to mine will be a resounding YES shortly afterwards. MOD will re-rate, MTRs equity postion in MOD alone will then dwarf the current market cap. Will we then see further moves by SFR and other parties to take control?? I expect so. MTR could quickly find themselves in a JV with a mid/major OR their stake of the JV will also be acquired as per T3 pit sale contract, leaving MTR with a MASSIVE ;-) cash pile

KML has been completely overlooked. Firstly it is a hedge against the above as MTR will still retain exposure to the KCB in the event of the MOD being fully taken out (should that be the case I expect MTR to fund KML internally and increase the equity stake from the current 50%) But the targets themselves are equally as compelling, in particular KIT-E with its close proximity to the T3 pit - even closer than the A4 dome.

The other equity positions while less major are still worth pointing out. GGP has had some good news today and im sure MTR will take profits as and when they see fit. While THR has been a slow burner the assets are there. PAM could we see a KEMCO tie up? Veta resources, TG very impressed with their rock sampling results.

And then the fact that Rick Rule has personally taken 60m shares in MTR, £1m in anyones book is a considerable vote of confidence in what MTR are building.

The share price is shite, no disagreements there. Maybe MTR is still associated with previous management and PIs are staying clear ,who knows.. But what is going on behind the scenes is very positive IMO and sooner or later things will click. ATB.