From my experience managements of companies don't seem to give a stuff about their SP falling. When they need more cash, as MTC will soon, they just raise it at a lower level and dilute the registry to buggery. Why do they care, as long as they keep their well-paying jobs? It's just the small fish like us who feel the pain. The way this is going they may be raising at about 7.5c in May. Really it's not a great surprise, though, because the writing was on the wall before Christmas. Good assay results would come out and push the SP up 25% and then within a week the gain was all gone. It was only the fact that late last year results were coming out regularly that kept the SP up around 20c. Since then no results has meant sellers have seen no reason to continue holding. It's got so low now that whatever the promising results from holes 3-6 added to the SP has been completely erased, as if no drilling was done at all. Can it come back this year (to 20c)? Somehow I doubt it, particularly with the gold price on the slide. MTC now looks like a lead weight on everyone's portfolio for the foreseeable future unfortunately.
MTC Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
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