I remember evaluating Winmar/WFE a few months ago before topping up in MTC. They spent something like $70,000 on some mediocre Cobalt 'projects' in Canada and were at the same market cap as MTC is now, so I obviously steered far away. They haven't even had a stroll through the property to take pictures of pretty rocks, and I watched every step as they climbed 700% higher since then because they might acquire some unnamed unknown DRC project.
Do I regret not moving my money over there at any point? No more than I regret not moving my money to a roulette table which can make me a tax free 30 bagger in 30 seconds. Trading sentiment is great until one day the tide goes out and everyone knows who's been swimming naked. At that point the fundamentals can't recover the price and the loss is realised.
Despite the low price, my holding in MTC and my percentage stake of the projects and profits remains the same. If a CR was done at this point that would change, however with $4.12M cash before this quarter's expenses that is not going to happen for a long time. So the share price's 'poor performance' you speak of doesn't actually make any difference to shareholders who are actually investing in the company. MTC could be $1 right now and my percentage ownership and the company's assets would still be identical, the only difference is everyone would be raving about outstanding management and how great the company is.
MTC Price at posting:
9.8¢ Sentiment: Buy Disclosure: Held
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