Member Info for theski

Hi there- I was wondering the same. Plenty of volume since the Deterra news and some of the RNSs since indicate recent purchases and sells. No idea what it means but suggests to me that a lot of people are at least watching this! The IC article encouraged me that another bid could appear but I’ve watched some of ST’s recommendations in the past and honestly, who knows.

I still haven’t seen any information on when or how to vote- have I missed it?

Looks like our Chairman has just sold half of his holding. Cynical I know but I wouldn’t be surprised if he wanted the liquidity for a divorce settlement! I hope that isn’t the case though- don’t wish anyone any ill (but am irritated at the deal out of the blue!).

The RNS suggests that there will be a vote ‘at the General Meeting’…but that was last week? How do we vote!

It's a definite no from ii

same here!

Hi again- I asked HL to clarify and...good news..

"I've reviewed the link you have provided with our Corporate Actions team who have confirmed that your holding will be able to remain in your ISA due to the fact it is maintaining its listing on the ASX."

So- I shall ask ii to clarify!

Any news from MTR Keith? HL advised me as follows-

"HMRC regulation states that for a stock to be eligible to be held within an ISA it must be listed on a recognised exchange and as such delisted stock does not fit this criteria.

Delisted stock would therefore need to be placed into a standard trading account.

If Metal Tiger is delisted, our Corporate Actions team will be in touch regarding opening this sort of account and moving the shares across."

I am still not sure!

Have we not still got HL saying that they will remain within an ISA though...?

RNS is out- all resolutions passed but it was quite close...~55% in favour for most.

I'm still not sure- ii have said no and HL appear to have said yes!

gov.uk guidance also says the following-

Depositary interests

UK regulation requires securities to be electronically settled in CREST. For companies registered outside the UK, this is achieved through a depository interest mechanism. The depository interest is effectively an electronic ‘wrapper’ around the ordinary share, to facilitate securities to be held electronically rather than in paper form. A company applies for depository interests representing ordinary shares to be admitted to CREST with effect from its admission to the market.

When checking the details of international shares officially listed on the London Stock Exchange (LSE) or admitted to trading on the Alternative Investment Market, known as ‘AIM’, the descriptor of each security will identify the listed/traded instrument e.g. ordinary shares. Reference to ‘(DI)’ in the descriptor simply confirms that the shares are settled electronically through CREST, and therefore is not relevant in determining ISA eligibility (because it is the shares that are listed or admitted to trading, not the depository interest).

Depository interests definitely not a problem but I'm not sure if the CHESS bit (of CDI) might be the problem, somehow incompatible with CREST perhaps? Irritating!

Oh...Keith...HL are saying that holdings can stay in an ISA? That's opposite to what ii have indicated. Very interested in any clarification there.

I'm very tempted to go but it is a fair distance. Perhaps I would get something out of asking questions in person though.

NAV aside, it seems that investors are doubting that the company will actually make it to the point of collecting royalties. It's always been down to patience and those who can afford to wait- bigMJ is clearly able and willing to wait. Cashking believes any holders are sadly deluded that it'll ever happen and so far he's been more right than wrong!

The whole thing is irritating as I said. There is value- IC has highlighted it. Is it worth the hassle!? Sigh.

Gosh this is irritating. Depository interests are listed as an ISA qualifying investment on https://www.gov.uk/guidance/stocks-and-shares-investments-for-isa-managers#depints
Is there a UK broker out there that can hold and trade ASX CDIs in an ISA? It looks like these guys at least used to (now EQ) https://www.shareview.co.uk/4/Info/Portfolio/Default/en/Home/help/investor/pages/CrestDepositoryInterests.aspx
Very irritating!

I have voted against. Is anyone planning on going to the OGM in person?

Well found...! That is great news- I thought it was reasonably likely that Motheo would need to run on diesel for a fair while but it seems not. Super.

Biggest trade I ever saw on here Friday- £274.80k at 10.918p. Can't be many people with that sort of volume to sell- big buyer nabbing a bargain?

Yes...it is very quiet. Any insight from bigMJ?! Are you ready to buy the whole lot this time?

I don't have access to the IC article :(

I think I can answer your questions though, 1) MTR do publish a monthly NAV (NTA)! It is an ASX listing requirement so they appear in ASX announcements (see https://www2.asx.com.au/markets/company/MTR) but don't make it to AIM RNSs. If you go back to June you will find an announcement with NTA of 20.7 pence. 2) As noted in the NTA announcements, the methodology for this valuation is given in the Annual Report (see 31st March 2022 announcement). Without going into too much detail, the Sandfire share price is a big factor for the MTR valuation (as you have highlighted) but the other big one is the value of the royalties. I expect both to increase significantly!

On the matter of the KML sale to CBE, generally I do think it was a good move to free MTR from future investment liabilities. The second half of the deal is also to be paid as £750k cash or in CBE shares at the 90 day VWAP. Quite what the share price will be after CBE give shareholder approval (hopefully!) I don't know but presumably CBE won't want to spend cash when they can issue shares so we might get some more cheap shares to pass on.

Indeed....as long as it's the right kind of excitement!

On the significance of the pause, the way I read it is that the volume and price started shooting up before CBE requested a halt and ASX put the brakes on in the interim. Might suggest a leak but this is probably how rumours start...!

Thanks Taylot- not sure I'm convinced though.... I remember MOD having halts and MTR continuing to trade but that was because we were on AIM and they were on ASX so different rules. I think I remember MOD halting on the ASX but not on AIM when they had dual listing too.