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The price is doing exactly what it should do, respond to market movements. There is/has been a large seller over the past 2 weeks or so, and the vast majority of relatively large trades (10k plus), have clearly been sells. Someone is offloading a large stake as it's beyond the realms of coincidence for it to be multiple sellers all at the same time.
Once this 'entity' has finished selling, I would imagine normal service will be resumed. If we take what the CEO says as fact, there is NO bad news on the horizon, so the largesells are likely to be from a distressed seller. Nothing on AIM can be taken for granted, and being able to buy MTL shares for circa 2.5p on the cusp of debt freedom 'should' be an open goal (time will tell).
Let's see how long it takes for these sells to clear and then we can all see what the company looks like (to the market) when the debt has disappeared.
Have a good weekend.
Welcome Karl, hopefully you bring the share some good luck and affect the price in a positive manner. I'm sure you've read a few RNS releases and watched a couple of interviews but if not, here's the latest company interview specific to strategy and the near future:
https://www.cruxinvestor.com/posts/metals-exploration-aimmtl-acquisitive-cash-generative-gold-junior-4935
All the best
More snouts in the trough buybacks to increase senior management's bonuses and clear the incredibly low bar 'hurdles' for the self-policed remuneration committee. then they will slap each other on the back saying how great they have 'performed' over the year.
At the same time more shares will continually be spewed out in the share plans and freebie options to the BoD and management while they carry on removing humans from the workforce, cutting costs that make things worse for customers and better for Tesco.
The express by mine has now turned off all their beer fridges that I used to grab the 3 for £5.50 (that rapidly went to 3 for £6.00) Morettis from, which I no longer buy because they are in a 'fridge' that blows out hot air pretty much cooking anything inside. Apparently they are soon to be removed and replaced with shelves, because Tesco think it's a good idea NOT to provide cold beers that can be grabbed quickly on the way back from work, you know, in an EXPRESS manner.
Akhmed's newsagents now gets my custom because he has this strange idea that customers would like cold beer that can be consumed immediately after purchase with their Friday night Kebab/curry/insert fast food preference here.
The share price hasn't budged on this news so yet again, FAIL.
Pay out a friggin special dividend, let individual SHAREHOLDERS decide what they want to do with their own money.
All the best.
And just to provide balance and show it matters not who's buying and selling, the largest trades in MTL recently happened yesterday, and they were sells based on the fact the bid was at 2.90 all day Wednesday:
07-Feb-24 16:15:52 2.90 2,000,000 Unknown* 2.90 3.00 58.00k O
07-Feb-24 12:19:20 2.90 1,000,000 Unknown* 2.90 3.00 29.00k O
Value will be found once debt has disappeared and the free cash flow starts adding considerable sums to MTL's balance sheet. We will soon have much more cash retained within the company which will provide a healthy buffer for any unforseeables, and also provide liquidity for the M&A activity.
Dig, sell, repeat.
All the best
Good start to getting the MTL name out there. Darren mentioned that he is now looking to get more company exposure after a few years of 'keeping our heads down'. Once debt has gone, the cash generated from Runruno can be used to progress the new acreage (after shareholder approval in June which shouldn't be an issue).
More media will bring more eyes to the company, and the fact he stated in this interview that he believes there's approximately 4 more years at Runruno is a good thing for me. The amounts produced will obviously dwindle rapidly before it's exhausted, but without debt we can bring the new asset into early production by targeting the quick win shallow gold spots while putting in the infrastructure to develop the copper.
I don't believe this will be the last acquisition, so with a bit of luck we can grab more developments and producing assets to offset the loss of Runruno once it's finished. He also mentioned staying in country to make use of what they have already set up at Runruno so along with this new acreage up north, other regional assets will no doubt be in the M&A crosshairs.
Q1 results should be strong based on the gold price and dwindling debt so at some point we 'might' see a positive rerate in the shareprice.
MTL won't stay hidden for long, and I expect we will see more interviews and PR on multiple platforms in the coming months.
All the best
Couple more chunky Monkeys from Friday trading. Looks like a lot of shares have been snaffled up this month. Hopefully there's an accumulation going on from one of the current shareholders or a new entity.
Roll on the Q4 results and outlook for 2024.
19-Jan-24 15:53:25 2.9277 900,000 Unknown* 2.80 3.10 26.35k O
19-Jan-24 16:23:58 3.00 1,100,000 Unknown* 2.80 3.10 33.00k O
All the best
Great RNS???? Are you being deliberately thick or are you genuinely deluded? The nonsense spouted by you and your acolytes over the past month has being nothing short of hysterical. This bell-end running the company has destroyed it. The 'premium' for something they have never produced because it's always contaminated won't offset the dramatic drop in the SC6 price.
Canmax also impose a large discount which will no doubt be even more favourable to them since GR failed to honour their last generous agreement. What happens if/when Stark mess up AGAIN and the new mill doesn't work as expected and the money runs out AGAIN?
Game Over, Canmax will not be pleased, and I would expect they will be adding some more penalties in the near future.
GR needs putting out of shareholders' misery.
Morning
Happy with that RNS, seeing as though it's basically already owned by MTL insiders it should go through on the nod. The relationship with the government is strong therefore I'm not expecting any administration hurdles. Once the licences and permission to mine have been granted, the drill is already owned by the sub-company and can no doubt be juiced up and spinning straight away.
The plan to go after the small scale gold is a good one as that's where the profit is. The local miners who are out there digging holes all over the place will have to be 'paid off', and I'm sure they can come to some beneficial arrangement without the need for any long drawn out legal nonsense.
Some of those small scale strikes have very high gold content and won't cost much to access near surface. The AISC for some of the area will be very low and then once exhausted, the larger projects to extract copper etc can be put in place. The main copper area to the far north of the licence area is close to roads that lead to the port which is perfect for intensive copper mining that involves lots of heavy material that needs transporting. No major infrastructure is needed to get copper to a cargo ship so once the mine(s) are constructed, the payback will be faster than it would be in a more remote location.
If gold stays above $2k for the entire quarter, I reckon we could be out of debt by June.
Q4 2023 results next, hopefully we can get some good news about Runruno too, it would be nice to find a few more strikes to extend what we already mine.
All the best
DazedandConfused
Your username says it all. Nothing further need be said. Recovery??? Are you blind or can you not read the nigh on 11% drop on the day GR released an RNS. There's enough shares in circulation to give to every human on earth multiple times and even a large proportion of the animal kingdom (like Snakes for instance).
Enjoy your evening, I'm sure there's something on the BBC you'll no doubt be watching.
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