If you can forget for one moment about what is happening in the global economy,today's sell down of about 2m shares suggests that MTH is now valued at a touch over $6m. Yet nothing really has happened to MTH other than they are methodically going about the task of proving up a potentially rich copper and gold resource. It is true that during Q2, there will be few drill results but come Q3, the drill action will hot up. Today represented an amazing opportunity to buy really cheap shares in MTH as it always does when a seller decides for whatever reason that it is time to quit a register. We now wait but the intraday low of 2.6c today may confirm a double bottom with price matching occuring with a previous low of 2.6c made on the 28th June 2012. There appears little method to the madness that has currently enveloped the world but MTH imo represents very decent longer term value at current prices. The MD, David Hutton is currently doing a roadshow in Melbourne and Sydney with the aim of espousing the very promising exploration story of MTH going forward.
Time will always tell but real opportunity may have presented itself today for those courageous enough to step up to buy MTH at these firesale prices below 4c.
MTH Price at posting:
3.2¢ Sentiment: ST Buy Disclosure: Held
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