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Agreed KB! A pitiful attempt at trying to denigrate the future potential of MTR. Obviously no grasp of the 2% Royalty stream value .....
Agreed KB. What I am really interested in is will MTR add another Non Exec Director to replace TG. If so will it be a big hitter?
New target price and a bullish review
Good IC update Keith
Has to be ratified at the AGM
Consolidation date 30th June.
Moving nicely up now.
Good to see an early morning move up for MTR
Same on II. Very narrow bid and ask spread.
Requires a bit of digesting but it looks as though KML have used the lockdown period to good advantage. The proof will be in the drill results. However it does look as though KML are drilling in the right area if comparisons to T3 and A4 are validated. Exciting times.
Some are better than others. II is one of the best in my opinion.
This is a very very smart move in my opinion. The stock markets are now looking very over valued at the moment and by taking this additional financing MTR are now in a cashed up position to take advantage of any distressed investment opportunities.
Looks as though they forward sold and then drove the price down to cover their position!!! No stock to buy!
Hydrogen, in my experience many Investment Banks will not want their name published and make it a condition of the ISDA that it is not divulged.
Morning Keith, important for accessing derivatives for hedging purposes and managing currency risk. It will allow MTR to take positions on commodities and futures for trading purposes. An important step.
Agreed Vectran, I do not agree. KML is the icing on the cake. The real hidden value are the SFR licences, A4 etc..... KML will take time to prove up.
Currently no value attributed to the royalty in the balance sheet.
The unknown value is the Royalty over SFR licences ex capped T3. We should get some indication once the A4 drill program has finished. Prelim values seem to be around £40m plus but will rise exponentially as other discoveries are found or on production.
BB a 10/20 consolidation?
Hi KB, here are my thoughts. It is probably not the right time to float KML on a stock market at the moment. I would imagine that some of the bigger players will be closely watching SFR and developments on the A4 Dome. What would be attractive would be a take out of KML by one of the bigger players once something of interest is drilled. MTR would then retain the 2% NSR, presumably take equity instead of cash as they did with SFR. MTR could then leverage up the equity using a similar collar derivative facility that they arranged on the SFR transaction. This would a win win for MTR as they would not have to finance the project and would retain exposure through equity and the Royalty. On Cupric I don’t think so. Botswana would not want the concentration of licences with one entity. They need to ensure a spread and encourage other majors to take an interest to benefit and diversify the economy. At some point it would not surprise me if one of the majors took out SFR. Time will tell.