Member Info for tomamara

I'm with Interactive Investors. Can anyone tell me how to adjust the bought price to 1p?

I've sold most of my MTL shares on Friday. I got into Condor in Nov 2023 just because it was a likely takeover situation. I added more a few weeks before the takeover was announced and happy to take the quick profit and wait to see if the IOUs materialise.

There have been some unrealistic predictions by MTL shareholders and building the mine and mill in Nic won't be a walk in the park.

I'm holding on to my last 25% of shares as I think there could be a nice increase if drill results in the Philippines come out positive in the not too distant future.

I have a feeling that there could be a capital raise and share consolidation before La India goes into production.

We should have a roll back sooner rather than later IMO. We look like a penny share and many investors won't even bother at us at all. No dividends for a couple of years. A lot more PR and promotion would be a help to the SP.

Thanks kkkrrr. La India plus 2 open pits NPV5 is $607mil and when underground is added it is $907m, using POG of $2,400.

SP of 19p and 29p assuming 2.6 bil shares in issue.

Surrey, La India October 2022 DFS (Au $2,400) has a NPV5 of US$320mil. Once deal has gone through there will be around 2.6bil shares in issue. That gives a SP/NPV of 12.3c or 9.8p.

Please explain if I have anything incorrect.

Without some form of explanation or reasoning for the valuation of the company, posts that pick numbers out of the air are pointless.

Bigmanresearch, let me enlighten you. Any offer must receive an approval of 75%. JM controls 26% of the votes and is legally obliged to vote against any offer other than MTL.

100% minus 26% is 74% which is less than 75%. No other offer will succeed. Which bit don't you understand?

Ever since JM legally promised (weeks ago) to vote against any other bid other than MTL, there has been no chance of another offer. Please stop posting nonsense.

Email the various links that are on this thread.

Who is your broker?

I bought Condor shares in Nov 2023 for the sole reason of hoping for a takeover. I added more when the NR announcing the sale of the mill and JM loan to the company. I might hang on to some MTL after the deal, a lot depends on what MTL announce and present their plans to the market.

I did not buy Condor to see it into production. I wonder how many other shares are being currently held on the same basis.

JM gave 48 hours notice of his intention to sign the clause where he would be locking his 26% in favour of MTL. I think that was the window of opportunity for someone to make a counter offer. It did not happen, so I have resigned to accept the MTL offer since that time.

Dictum, could you please share your rationale and assumptions in arriving at your sp.

I'm interested to know how people think MTL will evolve over the next couple of years.

I voted FOR. If the deal does not go through, I shudder to think what the consequence will be.

If there was a better offer from another company, it would have been made.

Voting AGAINST in the hope of a better offer from MTL is very risky IMO. Let's take the disappointing offer and move on.

Interactive Investor has them as well.

2 different votes required. 1 for court meeting and 1 for general meeting.

What warrants are people talking about? I don't recall warrants being part of takeover deal?

Are you on the right board?

I don't see any other offer coming in. Everyone has had plenty of time to do their due DD. Probably no bidding war took place, so this is the best offer we are going to get. Difficult to stomach for people who have been invested for several years with the expectation that Condor would go into production.

Thank goodness the price of gold has increased so much. I'll be voting to take the offer and hope that the MTL SP does a re-rate in the coming years.

By selling MTL and buying Condor, people will get around 1/3rd of their investment back in cash. I'm wondering if they will then use it to buy more MTL shares?

From what I can make out, the CVRs won't be held in any accounts as they will be paper certificates. I made some posts yesterday quoting from the CVR explanation document:

https://ca.condorgold.com/sites/default/files/u84/Project%20Cortes%20-%20CVR%20Deed%20Poll%20-%2004.12.2024_Redacted.pdf

The 11.1p will be paid in the form of a loan note. So, we will get IOUs that are not regulated in the UK.

How do I cash them in for proper beer tokens (I'm old fashioned).