check last announcement, it was BCC. If you remember the time $2m was purchased at 25, the term used was "sophisticated investors" The BCC purchased was the same. One could argue that this is the same entity. One could speculate that this entity is buying up shares because they plan to buy the mine. The more shares they have the less they pay.
Keep in mind that what you see on asx is 55m shares, this is what we can trade. The rest is owned by MTC. And I haven't seen MTC sell a single share at this price.
Once the drill cores are finalised and proven, in 5-6 months the "Deal" will be revealed. Until then, the share price will continue to rise closer to the "Deal" price. And this I explained earlier which depends on royalties terms of the Deal etc. I'm hoping for a complete buy out, which should be around $3-6 per share depending on the final JORC
Chinese have expedient influence in this region, they can pull strings to obtain open pit if they wish. If MTC can obtain open pit before the "Deal" then 12$ per share isn't a drastic number like bitcoinkid said.
Keep in mind that MTC can throw a few bobcats down there and start pulling gold out now. With the current license and low cost labour it's profitable. But personally, I'm here to see the Deal.
MTC Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
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