Metals Exploration Share Discussion Threads

[racinglad] 17/6/2022 19:11

Many thanks for the update following todays AGM, and great news on the principle debt repayment.

[sparki2] 17/6/2022 18:38

Good news to have a board fully supportive of the CEO's plans for the future expansion of our company and its share price.Expecting action following repayment of the principal debt in the 4th quarter.

[jonnyreggae] 26/5/2022 16:10

Lack of positive news is killing this stock. Drilling for mine resource expansion began early in Q1. For goodness sake announce some drilling results!

[applied1] 27/4/2022 15:15

I would like to have a small go here anyone ?

[johnybigarms] 26/4/2022 22:19

The market priced AAZ at 4p before it hit 170p, the market will catch on here as the debts shrink and the profits grow, the best is yet to come, if it’s not for you, good luck elsewhere, but most here are large holders and most have been here for many a year, so the next year or two is worth the wait, and our shares are our shares, nothing is lost or gained until you sell, good luck convincing us different

[marmalade44] 26/4/2022 15:12

Johnnyreggae - MTL does not control the share price.

The market is valuing the shares that I hold at 1.2p, the same shares that I bought for 0.55p just over 3 years ago. And, so what?

Oh yeah, you mentioned my IQ.

[jonnyreggae] 26/4/2022 14:54

@marmalade44 - Yet the market values the company at 1.2 p a share, you should have your own IQ checked...

[marmalade44] 26/4/2022 14:38

Johnnyreggae - Gold production has fluctuated between 15,000oz and 20,000oz for the last 12 quarters, that's the steady state production that Darren Bowden has achieved. Gold isn't distributed uniformly in the ground. The area that we have been mining has been a low grade area which produces a lower production figure and yet we have still made the second highest debt payment under the new debt restructure agreement.

The Senior debt has been reduced from $68m to $12.9m in just 6 quarters.

There's only one thing going backwards and that is the IQ level of some of the posters on this forum.

[pharmacopoeia] 26/4/2022 14:29

And haven't we already lost 3 weeks biox production this quarter already? Plus rising production costs, end of tax holiday, Stage 3 going back 3 months every 3 months, etc. I'll keep hold of my small holding but certainly wouldn't risk any more.

[jonnyreggae] 26/4/2022 13:54

@marmalade44 - 15,685 ounces of Gold sold in the quarter, if that is not going backwards I don't know what is?

[marmalade44] 26/4/2022 11:43

Jonnyreggae - Debt is being paid off, $11.7m off the Senior debt to be exact in the previous quarter. The mine is producing gold at a steady state and has been for almost two years now and all whilst dealing with the problems of Covid-19 which have interrupted supplies and management.

How is it going backwards?

[jonnyreggae] 26/4/2022 11:16

Bowden is beginning to sound like the ex-Chairman Holzberger (who misled investors for years), there is nothing good about that Q1 report, the company is going backwards. Candy and Edwards are the only people who will get anything out of this company. The rest of us have been swindled...

[marmalade44] 26/4/2022 09:06

You're spot on Johnybigarms.

The net debt would be exactly the same with only an $8m debt repayment and having $4.7m cash in the bank!!

Senior debt was reduced by $11.7m.

Debt was reduced by $8.7m and not $4m as stated by EezyMunter. Is there anything he won't lie about in order to deramp?

Net debt was reduced by $4.7m

[johnybigarms] 25/4/2022 22:52

A: $94.2m

It’s easy to understand if you look at it like this,

You owe your brother £10 and you have in your savings account £1, you get paid £2 and so you pay off £2 of your debt to your brother, you now owe £8 and have £1 in your savings, so your total worth is minus £7.
Or
You owe your brother £10 and you have in your savings account £1, you get paid £2 and so you pay off £3 of your debt to your brother, using your savings, you now owe £7 and have £0 in your savings, so your total worth is minus £7
It’s the same number.
This quarter MTL made $8.2 million clear cash and reduced the debt by $4.7 million, so the interest was $3.5 million for the quarter (8.2 - 4.7 = 3.5) MTL paid the Candy’s $12 million by using their savings, it’s that simple, the total debt is the same whether they had used their savings or not, but the upside to using their savings is they owe $4 million less on the Senior loan and as such save 7% on $4 million for the next 3 months, that’s £70000 less interest owed by Q2, small saving but a saving it is.
Bottom line is we need to clear the last $12.9 million of the Senior loan, then the remaining debt will reduce to 7% and that will reduce our quarterly interest instantly from the current $3.5 million to around $1.6 million, that speeds up the debt free future we all patiently are waiting for, nothing confusing with this latest RNS, I reckon Q2 will bounce back as the 3 weeks lost production gets processed along with the Q2 quarters production, and a bigger chunk of that last $12.9 million will be cleared.
Long and strong.
Oh, any one invested in gold must have the belief gold has to go much higher that it already is, and I believe we are due a huge leap forward in the near medium term. GLA

[marmalade44] 25/4/2022 17:58

I'm seriously beginning to think that this forum is made up of The 1% Club contestants.

Of today's posters only Johnnybigarms will get this correct.

If MTL had only made an $8m debt repayment in Q1 and had $4.7m cash in the bank then what would the net debt be at the end of Q1?

A - $94.2m,
B - $98.2m,
C - $94.9m,
D - $98.9m?

[eezymunny] 25/4/2022 10:19

Debt only down $4m+ in the Q. With gold at 1900+. LOL.

Does the gold in ground run out before the debt is paid off? It´s quite a race.

Costs must be going through the roof.

[sleveen] 25/4/2022 10:01

What it saw, was $12m paid but only $5m net debt reduction.

How much interest is being paid?

[johnybigarms] 25/4/2022 09:59

These are the actual facts, as taken from factual RNS.
2 years ago:
Total interest bearing liabilities as at 31 March 2020 were, in aggregate, US$129.8 million (US$69.3 million in senior debt and US$60.5 million in mezzanine debt)

Todays RNS:
Net debt as at 31 March 2022 was US$94.2 million
Senior debt outstanding as at 31 March 2022 was US$12.9 million

So we have reduced the overall debt by
$35.6 million in 2 years and importantly the Senior debt has reduced from $69.3 million to $12.9 million, when that gets to zero we get a very reasonable 7% interest rate on the remaining debt, a massive 8% saving (around $7 million per year) reduction in interest payments, so with all the heads winds and lower gold prices we still achieved solid progress.

So what’s ahead? lower interest rates, higher gold grades in phase 3,4 and 5, higher gold prices? (almost certain) increased mine life (almost certain) equals a faster pay down of our debt.

Happy days ahead for the patient, don’t listen to non factual moaning.

[grimreaper2019] 25/4/2022 08:34

Nearly every $ generated by the gold mine (that is rapidly depleting btw) is going to Candy and Edwards to pay back their 'loans'

Not only did they not pass on the huge discount they attained buying the bank debt they then decided to instigate penalties & penal interest rates on the company, the newly appointed CEO (Mr Bowden) initially was 'disappointed' with this aspect but now has accepted he is purely working for the providers of loans, billionaires, his salary is assured, interesting he owns no stock.

Despite tens of millions of $ paid by the company over the last 2 years debt still stands at $94m.

No wonder the share price remains floored.

[king suarez] 19/4/2022 09:54

Resuls aren't out yet?

[giantpeach2] 19/4/2022 08:09

Adfn not showing results???

[jedi k] 18/4/2022 09:57

Darren Bowden, CEO of Metals Exploration commented:"The results released today demonstrate a life of mine of at least five years which, given the work that we have carried out and are undertaking we are confident can be extended.Can you believe we generate 40m to 50m free cash flow per year for the next 5 years and even considering 100m of debt, MTL has a capital value of 26m.