Metalnrg Share Discussion Threads

[harrisun] 21/10/2020 11:50

Excellence, he is involved currently with several companies including
Tennyson Investments (dissolved)
Industrial & Commercial Holdings
Marlands Estates Limited
London Finance and Investment Corporation Limited
Lengau Resources plc
18 Moreton Terrace Management Company Limited

Also seems City Group

[excellance] 21/10/2020 11:28

we are only seeing a small piece of the jigsaw.

who is this christopher campbell and his brother peter?

[harrisun] 21/10/2020 10:50

My only disagreement with the potential deal is one of poor strategy to forward announce the need for a placing. Makes it open season to short or front run to get the price down for the eventual placing, if the deal goes ahead.

On that basis it should be an open offer to ALL shareholders to allow everyone the opportunity to get to the cheap share trough

[ekuuleus] 21/10/2020 02:23

The basis of Lake Victoria getting 75% of MNRG is the Imweru. A resource that KIBO owned 30% of Katoro and MNRG 3% of Katoro who owned 100% of Imweru. This was sold to Lake Victora for $1m convertable.

75% of MNRG is being swapped for shares to take over Lake Victoria.

[ekuuleus] 21/10/2020 02:09

all very incestuous.

Kibo home page does not mention Katoro.
Katoro seperately listed.

Katoro

Name of Shareholder Number of Shares Percentage of issued share capital
Kibo Energy PLC 96,138,738 29.63%
Sanderson Capital Partners Ltd 20,000,000 6.16%
Power Metal Resources PLC 10,000,000 3.08%


Katoro completes disposal of Imweru to Lake Victoria Gold
15 June 2020




Can't say Katoro inspires confidence. It's list of projects doesn't do the disposal justice:




I'm somewhat relaxing again now I'm getting a handle on the corporate restructurings.

note form the Feb 2019 article.

LVG has been approached by a UK entity which can fast track a UKmain board listing. Costs associated with the listing are estimated atUS$500k and the listing would involve raising the US$6m to develop the Imwelo project.

My initial reaction this mornings RNS was along those lines.

So Katora (Katora part owned by MNRG) who owned Imweru, sold it to LVG for $1m plus nice options, who are selling it to MNRG for $6m.

All good then.

[magtalo] 21/10/2020 01:48

I've read enough.

I'll be looking to sell out first thing.

I don't like it one little bit.

[magtalo] 21/10/2020 01:37

I knew something was not right here

[ekuuleus] 21/10/2020 01:32

great research magtalo.

time to get the post it notes and string out.

[excellance] 21/10/2020 01:31

Good find.

So LVG have been thru this before with another Schaffalitzky company, kibo, but it must not have completed the deal?

How peculiar.

I've been trying to figure out who this Christopher latilla Campbell is

[magtalo] 21/10/2020 01:31

hxxps://www.crown.co.za/modern-mining/industry-news/13140-katoro-completes-disposal-of-imweru-to-lake-victoria-gold

Lvg paid $1m, 2 months before mnrg turned up

[magtalo] 21/10/2020 01:08

hxxps://www.breakawayresearch.com/research-portfolio/lake-victoria-gold-limited

[ekuuleus] 21/10/2020 01:01

he's holding here was 2.58% off memory but its been 6 months since I looked.

[ciminna] 21/10/2020 00:14

Just listened to the interview and although I don't understand all the dynamics about the share dilution and fund raising like a lot of you do this is my take. Surly Metal must of shown some pretty impressive works in progress or at least what their future plans are for them to be happy taking only shares for the while company buyout with no cash especially if they've been working on it for 8 years plus! Just my initial layman thought on it.

[magtalo] 20/10/2020 23:16

I'm hoping we get out bid.

Wait for this type of acquisition when britnrg and GR have announced something positive.

All the best.

[magtalo] 20/10/2020 23:06

This agreement was done in August. RG has responded to my email.

Mnrg had actually at the time had put a premium on the then share price

The heads of terms are not binding , why go ahead with the share price so high ??

[excellance] 20/10/2020 23:03

Cos the deal must have been agreed last week.

£5m mkt cap
1.2 billion shares total

It didn't cost us much, but it will add a lot of value.

Something is missing. Wait and see how they finance goldNRG

[magtalo] 20/10/2020 22:58

LVG have spent 8 years and £10m and 12 months away from production, sell up for £6m ??????!!!?????

I don't know what to make of it.

Why dilute so much, there must have been some type of lending option available.

And 0.8p .... why not renegotiate as the share price had risen, like they renegotiated in Romania, when poo took a tumble.

[magtalo] 20/10/2020 22:48

You really don't know what tomorrow is gonna bring...today's rns, although sort of expected was really unexpected.

750m shares for crying out loud.

What next.... GR turns out to be a duffer....f me

What would that do to the share price with billions in issue ??

[excellance] 20/10/2020 22:45

We just need a cash rich partner and we are sweet, or maybe a cash rich miner will take an interest in GR?

[excellance] 20/10/2020 22:38

They are acquiring cash generating assets that should pay for themselves and not require resorting to financiers to place shares for cash and warrants and options into perpetuity.

How else can they do it?

They now have three projects to run, grow, and fund, and they have no cash.

How will they fund these projects until they are self supporting and can contribute towards the others?

[magtalo] 20/10/2020 22:08

I don't like the deal.

It feels like mnrg have given away far too much and undermined their own worth....and all for £17m ...after expense £?m ??

If mnrg·s other assets ie GR britnrg
do well then LVG shareholders will be rolling in it !!!

I just can't stomach mnrg having billions of shares in issue ...poor old sp

GLA