Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Still confused as to why the same deluded fools think today's RNS is in any way good news. It said absolutely nothing that wasn't already known, and contains no guarantees that SC6 will be spewed out the a s s end of the plant when the new, new, new, new mill is plugged in by the team of incompetents who plugged all the other ones in that didn't work.
The shiny new Messiah Mill will have Stark's fingerprints smeared all over it which means two things. 1. It won't work when it is 'plugged in' and will require a seemingly never ending period of 'optimisation'. 2. The feed material will be contaminated/diluted and it will cost a lot more to keep cycling it until SC6 appears in bags.
GR did however reiterate the fact that mining work is expensive, and he 'hopes' that the production of a suitable grade of Spodumene (if/when it happens), will be adequate to offset all these extra mining costs currently being absorbed. Which in Layman's terms means, "we are haemorrhaging cash at an obscene rate in an attempt to dig up some soil that isn't contaminated before it rains again and washes all the good stuff away".
And in shareholder terms it means, "Snowking and the other snakes/idiots have been putting out spin/PR while the price is crashing in an attempt to lure in more fools while we churn this heavily discounted placing in the background".
10.64% down on 'great news', it seems the people who price the shares buy their specs from the non Rose-tinted shop.
Let's see how long it takes before more shares are vomited onto the market.
Definitely someone wanting in/out over the past few weeks. Yet more large trades from yesterday:
02-Jan-24 15:59:18 2.92 855,823 Unknown* 2.70 3.10 24.99k O
02-Jan-24 16:30:50 2.77 2,750,000 Unknown* 2.70 3.10 76.18k O
The fact the price hasn't collapsed 'suggests' it's an entity buying in or building a stake.
Time will tell.
Another larger than average delayed trade from the 29th December. Can't remember off hand what the Bid/Ask was on that day but I think it was around the 2.5p range so 'hopefully' that's a buy.
Have a goodun
Nice one Lee (and Nesnoor), I wondered why nothing was showing on here when other stocks I have are displaying trades. LSE must not like MTL.
Good to see there's some interest on day 1 of 2024, I would like to think our volume will increase once the Q4 results are published. I'll grab a few more at the end of the month.
All the best
All the best for 2024
Yeah, definitely looking like the extra pennies on the gold price 'should' help us see this debt off quicker. Zero trades today and it opened level, then went 5.77% up, and now it's 7.69% up with no volume. It's either a general lift by the market makers due to the exposure to gold, or there's a buy going through that will be printed later in the day.
Very much looking forward to the results and 2024 outlook. The drop off in production should be offset by the rising gold price so even if we don't get any additional production this year, the revenue should be decent enough to increase our valuation once the debt is history.
All the best
The price yesterday that was displayed on here was false all afternoon. The Bid being at 2.30p was not an indication of the sell price. A large(ish) buy was printed at the end of the day and it went through at 2.60p which was the top of the actual ask.
Another buy for over £7k was delay printed so 'could've' been part of the other trade. Trading volume on here is tiny considering the amount of shares in issue, so it shouldn't take much demand to move the needle one way or the other.
The more gold sold, the quicker the debt disappears (hopefully forever), and i would imagine other assets are being eyed up elsewhere. I would prefer it if the company concentrated on expanding what they already have access to, but this is AIM and CEOs always seem to want a new toy using debt/dilution to pay for it.
It would be refreshing if they decided to increase the market capitalisation by retaining all the profits from gold sales until the company had approx £30 million cash on account. That would show restraint and financial prudence, and also provide a buffer for any 'unforeseens' that might crop up politically/economically.
That cash could then be used to pay dividends while eyeing up distressed value adding PRODUCING assets that other companies can't afford or need to sell. Cash on the hip can get you very far when other CEOs are being earmarked for lynchings by their shareholders due to mismanagement.
We should have a lot of losses to offset against upcoming profits, so the tax hikes and anything else the government come up with shouldn't be much of a hit to the bottom line here.
See what the update holds in Jan.
All the best
I see school is out because an infantile moron with access to emojis has turned up. I'm sure a 'lol' won't be far away.
Finish your homework.
Sleep
'this is why the instituations and goddard all want shares. They must be very confident.'
It's called mates' rates and forward selling, otherwise known as insider trading that goes unpunished because no regulators give a toss (in the same club-itis).
Pity that our sole client and creditor didn't want any further shares at a significant discount, you know, the client who has a legal right to all the data and knows exactly what's going on. They must NOT be very confident.
Anyway, you can keep 'topping up' your shares at an ever decreasing price (known as consistent averaging loss), I'm sure GR won't disappoint you any longer.
Wonderful, the market are delighted, I'm sure investors and funds would prefer reserves upgrades and drilling campaigns that result in gold being found (unlike the last 6 drills that found nothing).
The bright future will come from getting out of debt, mining more gold, finding extensions that are feasible, and paying dividends.
Let's see where we are when the next results drop. The price of gold has been kind to us in December so this debt should be gone soon.
'Tygra I believe an updated resource reserve report is dropping imminently which would comfortably propel the share price closer to a penny once it is announced.'
This is nothing more than blatant wishful thinking. There is no fixed date for any reserves update, and no guarantee that it will equal a 400% increase in the share price when it does, particularly once another circa 2 billion shares come onto the market at 0.23p.
The reserves are worthless if they can't be turned into sellable product at an economic price. We already have a pilot plant a year overdue that hasn't produced anything other than misery and dust.
The only way this price goes over 1p and STAYS over 1p is with consistent production with no mistakes, failures, snags, breakdowns. Which means it's not going over 1p any time soon.
Let's see what the excuse is when the delay happens, and the precious saviour ball mill isn't spinning sand into SC6 by the end of February 2024.
Pump and Dump101
Nobody knows what Canmax will do because they have yet to comment on the most recent missed deadline. The fact they are not mentioned in the latest disgraceful RNS should be food for thought for even the most deluded of posters on here.
Hence why I said, 'Let's see what Canmax think of this'. I would 'expect' they will break cover soon and GR will have to put out an RNS informing the market what has happened by missing yet another agreed deadline.
I fully expect an RNS saying Canmax have been paid $1.5 million on demand, and that they will require another $1.5 million in the next 3 weeks, or agree to yet another contract revision (in their favour).
Tick Tock. So other than an RNS about the agreement with Canmax, there's nothing happening here for the next 2 months minimum apart from billions more shares hitting the market.
Plus, there's no mention of Canmax anywhere here, that means we should expect at least $1.5 million of that raise will be to pay them when they ask for it. I would imagine they asked for their cash settlement and GR said we can't pay you because we don't have any money left, hence the raise.
Let's see what Canmax think of this.
As expected, yet another farcical cash raise at a heavy discount. So GR has gone from 'this will be the last results that doesn't include revenue generation' to, "we are PLEASED to announce another £2.4 million worth of discounted shares (forward sold for the past 3 weeks minimum) are to be spewed onto the market, along with another £2 millions worth to pay the people who drilled all of that contaminated soil we couldn't turn into SC6".
What's another 2 plus billion shares between friends (and shareholders, GR's biggest...mugs.....sorry....friends). Now all we have to do is wait to see if the new, new, new, new, new mill will do what ALL the previous ones that were DESIGNED for ZULU apparently couldn't.
Yeah, of course it will be spitting out tons of SC6 by late February, what could possibly go wrong.....again.
Wait for the new shares to hit the market, more confetti to sell in large blocks.
Merry Christmas, George Loves You.
The good news in there is that Canmax have not asked for their $1.5 million payment. Naturally, as it's a statement from GR, that doesn't mean they won't because there's no details around what Canmax actually want to do next.
As expected, zero production until Feb at the earliest so there's now nothing to see here now until production starts (if everything works), or Canmax do something that required an RNS.
Snooze button, expect delays.
Morning
Despicable RNS with nothing but failure in every paragraph. The egregious BoD have basically stolen shareholders' funds via 'wages' and urinated over $35 million from placings down the Russian Khazi. Now Nyud is dead in the water unless someone offers to buy the licence off us (why would they when they can pick it up for free when EUA run out of funds).
WK with the wonderful electric dragline that so many idiotic deluded pom pom wavers told us was a 'game changer', is now out of business and mothballed, and the bags of sand are STILL not sold because obviously nobody wants them.
As was so very OBVIOUS, there is no sale of assets coming anytime soon, if/when there is an offer, it will be for pennies and the Board of Cowards will probably accept it and get it through on the nod because they have large share blocks. When all those share certificates become tradable, I would imagine this company will collapse because they obviously need to raise funds by the end of March 2024.
The US Treasury Notes have now disappeared (gone to pay legal fees and wages no doubt), and the mystery loans to subsidiaries is not even mentioned because OBVIOUSLY it was used to progress all the Rosgeo options that have basically bankrupted the company. We mine, produce, and sell NOTHING, therefore the loans that are redeemable on demand from OUR subsidiaries have no cash to pay the parent company back. It's GONE.
Never mind, I'm sure most of the cretins who have been singing the praises of this bunch of crooks will see a 'top up opportunity', and a few more trading Hyenas will pop up to play the stock while the (this is it, we're in blue waters, sale coming) fools, continue to pretend they actually believe they will see their investment back again.
Dead in the Water All Round.
Sack the Board.