-- MTE advised the ASX on 22 March 2011 that it was gaining and seeking expressions of interest for a Joint Venture partner on the 100% owned Wandoan area tenements. The process that MetroCoal and its corporate advisors, Caldrex Capital, have initiated is as follows: 1. Receipt of initial Expressions of Interest; 2. Marketing Presentations to visit interested parties that are currently underway; 3. An on-line Data Room made accessible following the execution of Confidentiality Agreements; 4. Requested receipt of Non-binding Indicative Offers late July 2011; 5. Requested receipt of Formal binding Offers late August 2011. --
Looks like a deal will be signed late August / early Sept... not too far away.
Throw in a resource upgrade on Bundi and perhaps an update on Columboola between now and then, and you'll have a $1+ share price in 2 months.
MTE Price at posting:
70.0¢ Sentiment: LT Buy Disclosure: Held