Capital Raising, page-2

I may be wrong about the need for a capital raising.

I've just looked back and seen they announced a successful raising of $1m @ 18.5c on 12th of July.

So I'm now presuming that these funds were not received before the 30th of June, so would not have been included in the previous quarterly, which makes all the difference.

Therefore, they should not have any need for a capital raising until next year.

My apologies for the former misleading post, I should have been more thorough in my research.

And on another point, I'm sure the company is aware of how valuable it's Cobalt projects now are, given the mad scramble by electric car makers world wide to lock in any Cobalt supply.

In fact, Battery Mineral Resources (BMR) was going to IPO on it's Cobalt projects some 10 ten months ago with a market cap of $15m. They delayed that listing, and picked up an extra project.

They switched their attention from listing on the ASX to the TSX, and early in 2018 they will list in Canada with an expected value of $200m+.

Not a bad increase in valuation for a private company in 10 months.

Cobalt is in such huge demand. MTC could do something similar with their Cobalt projects.

It will be interesting to see if they are still considering listing the Cobalt IPO next year, perhaps even on the TSX in Canada.

Interesting times ahead for this company. High risk, but worth a small punt.

Gw