Member Info for vermilion1966

Sorry EL didn't see yr post. Looking at the markets this am...

GDXJ...!

...for junior PM miners.

1) Clean balance sheet with no debt and high cash.

2) High FCF.

3) High dividend (4% or higher) and strong share buybacks.

4) 50% of FCF paid out each Qtr via dividends and buybacks.

5) Tell investors this is your strategy.

Slight correction:-

The CVR (*Production) Loan Notes will be issued by MTL within 15 Business Days of the first gold pour at La India.

The Loan Notes will be redeemable in cash (5.55p) on the redemption date (being six months and one day from the date of issue of the Loan Notes)

The Loan Notes will not bear interest.

* The CVRs come in 2 equal parts. The 'Production' half on 1st pour at La India, the 'Resource' half when an additional 800,000oz gold is proved up (JORC compliant)

Opened an account with HSBC Investdirect and Hargreaves Lansdown. But they have both now said they can't handle CVRs.

Any recommendations for a decent stockbroking account?

Judy Shelton on Glenn Beck today.

Third largest radio show in America.

400+ stations. Millions of listeners. https://www.iheart.com/podcast/175-the-glenn-beck-program-23014384/episode/best-of-the-program-guest-judy-shelton-21726-323351738?app=listen

The US is $36T in debt. No plan to balance.

Deficit spending she calls "immoral

robbing the next generation." US gold on the Fed's books at $11 billion. Actual value: $1.3 trillion. Doing nothing since 1971.

Her proposal: 50-year gold-backed Treasury bonds.

Redeemable in gold at maturity. Lock the reserves.

Audit Fort Knox. "We're putting our gold where our money is."

Glenn Beck who has pushed back on every gold

standard idea for years stopped and said:

"This is the only idea I've heard that would actually work."

Re. acquiring shovel-ready project - DB mentioned Asia Pacific a couple of times during his 'interview'

The maximum potential payment is 11.1p for each CVR held. 

Half to be paid following the first gold pour using ore from the La India mining operations, subject to the first gold pour occurring within a five-year period.

Half to be paid on the basis of of additional contained gold JORC Mineral Resource discovered in excess of 3.158 million ounces total resource at the Condor Group’s La India, Rio Luna and Estrella projects (again, with 5 years).

Fresnillo trading update later this week will be interesting

As far as I know, MTL is not engaged (nor has plans) in toll mining. AI getting confused with old Calibre toll mining rumours, perhaps?

Rio Tinto's new Nuton process has the potential to fast-track copper production.

“We’re consuming 30m tonnes of copper a year. Only 4m tonnes of which is recycled. That means to maintain 3% GDP growth, with no electrification, we have to mine the same amount of copper in the next 18 years as we mined in the last 10,000 years, combined.

This is without any new electrification, without data centers, without solar and wind and the greening of the world economy. You people have no idea whatsoever what we’re facing.” Robert Friedland

16.22 Barclays

I've forgotten where photos of Dupax core samples were posted?

Fyi commentary from Ruffer:-

Alongside equities, exposure to precious metals continued to be a strong contributor to the fund’s performance. Whilst gold bullion suffered its sixth-largest drawdown since 1980 intra-quarter, it ended above $4,300, eclipsing its all-time high in December. Moves across silver, platinum and precious metal mining equities were even more dramatic, with silver and platinum rising 52% and 28% respectively. Against this backdrop, we continued to crystallise profits in the portfolio’s gold mining equities, while maintaining a c4% allocation to reflect our continued high conviction in their ongoing structural role within the portfolio.

There will be many further RNS with regards to the exercise of options. These stem from historical fundraisings, both for MTL & Condor.

E.g. I have 1m+ Warrants which entitle me to subscribe for the same number of shares at £0.0605 per share - warrants valid for 3 years from Jan-25. I haven't exercised these yet, but almost certainly will prior to Jan-28 - at which point MTL will have to inform the market via a RNS

Info from a local:-

They have two drilling machines, one in La India and the other in Cacao (arrived around the 7th of November).

They are extracting ore from la India vein and storing it.

A good overview of the history of the Gold standard, from Ruffer

https://ruffer.foleon.com/ruffer-review-2025/rr25-gold-intentions/

3500 - with maybe a small undershoot.

Any other bidders?!

By 2028 la India has proven/probable 10m oz in satellite deposits, and AU is at $5,000 oz.

Dupax reserves 20m tonne @ 2oz/ tonne = 40m oz

Now crunch the numbers!