MTC (ASX) Ann: Update on Offer Received from Trans Metal Fund LP

Originally posted by VatreniHR: ↑

The only pending approval mentioned by the company is the underground mining activity permit and the issuance of said permit is also one of the milestones used by Trans Metal Fund LP for US$20m payment. The permit is expected to be granted in Q1 2024. I assume this permit defines/includes what processes will be used to process the ore.

My personal assessment is that the change of government in Slovakia is extremely positive for Metalstech. The new prime minister Robert Fico and his party are what one could fairly call "climate change deniers" (whatever your position may be on this topic), that means they will be more open to issuing approvals.

Robert Fico's nomination for environment minister Rudolf Huliak openly denies climate change.

I believe that Zijin Mining (and I do now firmly think they're behind the Trans Metal LP bid) could potentially reverse the Cyanide ban in Slovakia under the Fico government and considerably improve the already great economics.

The Fico government would also be more amenable to open pit mining. Zijin Mining being partly state owned could negotiate these outcomes using Chinese diplomatic power.

Here is another piece of evidence that suggests Zijin Mining. The other director listed (in the MTC announcement and on the Trans Metal Fund LP and Trans Metal Management Inc documents) is James Xiang. He worked as an interlocutor to arrange the Zijin Mining acquisition of Gobimin. All the individuals involved in the Trans Metal Fund LP bid are linked to Zijin Mining through M&A activity. As individuals, they do not have the economic clout nor expertise to acquire Sturec.

I think the company can extract even better financial terms from Zijin, maybe move the last payment contingent on mine operation forward. Zijin have deep pockets.

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EXCELLENT work @VatreniHR

Take a look at this too.... This Placement back in December 2022 was done at 40c

Guess who the Current Chairman of "Chifeng" with +9% of MTC after this placement used to be Chairman of ? Zijin Mining !

The US$ Gold price back on 22 /12/2022 was only $1,800 when this placement was done @ 40c

I think it's a safe assumption that considering this project is way more advanced than back in December 2022 & the Gold price is way higher than US$1,800 at the time of this 40c placement, that " Chifeng " won't be accepting anything below 50c MINNIMUM !

Your Assumption the bidder is desperate to keep this from rallying so they accept the offer is also spot on... The shareprice really started to fly higher on Wednesday up to 19.5c and with only 150,000 shares on offer left in the total market selling , they had to stop it from going any higher into orbit and because volume has been so low it only cost them $140,000 to smash it and they didn't simply sit on the offer to sell, they aggressively smashed it down as quickly and as fast as they could..

This is EXACTLY what the Chinese do ! This is EXACTLY what the Chinese takeover of TIE did before they launched a takeover for TIE @ 58c ----> They Aggressively smashed it Down to 28c as quickly and as fast as they could in the day's before. ( see below)

TIE was trading solidly at around 50c, then suddenly it was smashed Down without any explination, it was hard and sharp on no news, exactly like friday.... Then suddenly after the Chinese major shareholder lauches at takeover @ 58c -----> If it was still trading at 52c like normal for the previous few months, then a 58c takeover would be a joke..

However, spike it down to 30c first, then a 58c takeover lauched straight after suddenly looks a whole lot more appealing.

It was done very quickly after the smash down, so expect some MTC news very very soon.

Remember, " Chifeng " would want more than there 40c placement cost back MINNIMUM and not wait for delayed payments !

And considering " Chifeng " Chairman was the Ex- CEO of " Zijin " , i think he wants extra sweat n Sour sauce on his Chicken fried rice and a big Karaoke singsong afterwards with his old work mates !

Or maybe they are still friends......