Retail holders have been shafted! A deal of complete self...

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readyaimfire

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11/09/24

14:52

Post #: 75629586
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Originally posted by gberra ↑

Markets been pretty clear what they think of the situation.

First MTC tell us they have several interested parties in regards to an TO. They then have positive discussions after site visits by several parties and are encouraged with how the sale process is proceeding.

Shareholders start thinking a TO is imminent.

Then they cancel talks with TMF because the offer is too low. Making everyone think there must be a better offer in the works.

Then out of the blue Gino sells 5.4 mill hares at a massive premium - 55c and his previous business partner sells 30 million to Minerva at around 50c. Looking after themselves first without consideration for shareholders.

Now people think a TO is not going to happen and that our leader has looked after himself first and sold a blocking stake. All this while company funds are critically low. They could have issued new shares to minerva at 53c to essentially help the company instead of just themselves and the company would be in a healthy position, but instead they wanted to look after themselves instead.

Now where in a situation where we are low in funds and facing a likely capital raise and a TO looks less likely. Hence the share price falls.

However Gino wants to paint it, from a shareholder point of view it’s a very bad look. Shareholders want a director that looks after the company and shareholders first and not just themselves.

The good news is Gino only sold 24% of his shares and still has 17 million.

Another possible bit of good news is that settlement for the shares isn’t till mid Dec. Could this be a way to flush out a bid without the sale of a blocking stake being finalised ? Do people really believe minerva has 3 mine already ( if they are Li they would all be loosing money at the current Li price ).

We also still have what looks like a great gold resource of 2.5 million oz and growing and now we supposedly have another partner that appears to be interested in developing the mine.

Personally I’m very disappointed with the events of the last week.

Minerva won’t do a take over of they’d have to pay too much - 97c.

I am still hopeful someone else with launch a takeover and that Minerva is a tool to flush them out. Having a Dec settlement date is extremely odd for a change in substantial holding notice.

GLTAHs

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Retail holders have been shafted!

A deal of complete self interest by the selling entities is how it looks. That it is permitted under the law is a disgrace. Maybe the pollies are too busy enabling people who want to pretend they are 6 legged zebra's to look at serious matters.

MTC Price at posting: 18.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 14.0¢		Change 0.000(0.00%)		Mkt cap ! $29.22M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	3853	13.0¢

Sellers (Offers)

Price($)	Vol.	No.
14.0¢	157	1

View Market Depth

No.	Vol.	Price($)
1	3853	0.130
3	44642	0.125
1	25000	0.120
1	8	0.115
1	6000	0.110

Price($)	Vol.	No.
0.140	157	1
0.145	60935	2
0.150	81333	3
0.155	43725	2
0.170	20284	1

Last trade - 10.04am 17/06/2025 (20 minute delay)

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