Ann: Diamond Drilling Commences at Adina Lithium Project, page-6

Fireworks are coming.

Bought in at $0.27ish and been holding for about a month (topped up twice).

Previously did well on AVZ (circa 40% gain) and then bailed at $0.33 because I'd been watching MTC for months and couldn't not invest any longer. AVZ at the time was overbought and MTC well over-sold. MTC still is.

MTC technicals are perfect imo. PSI is over-sold, MACD about to cross the EMA and about as low as it can go, volumes have been low since December, and the bollies look fantastic. Primed for reversal.

I don't put much value on Morningstar's price target since it is quantitative but some may notice it has gone from $0.17 to $0.23 "undervalued" in just a few days and that is without today's news. Likely to go up to $0.28 in coming days based on today's lift. Investing.com's technical summary is changing too. https://www.investing.com/equities/metalstech-ltd

So why am I still here 100% invested in MTC when AVZ has just had a killer intercept? When KDR is the subject of T/O speculation and BMW are hunting for 10-year supply? (I did more than twice as well on KDR before AVZ)

A: MTC is in my mind the most undervalued lithium stock on the ASX. I got out of AVZ at $0.33 because the best outcome in the short term was perhaps a 100% gain. I believe MTC could multibag from here. ie. $0.40-60 in a short space of time, and go further on good drilling results.

Adina is very promising. The pause at Cancet has been well-explained here https://hotcopper.com.au/threads/email-from-chairman.3970441/

"Adina/Cancet
The Adina exploration program is on track, we have already commenced preparations.
We chose to delay Cancet so as to be able to gain summer access prior to the next round of drilling. This allows us to complete certain pre-drilling investigations so as to maximise the cost and geological efficiency of the next campaign – this was only recognised as a necessity after we received results of the last drill campaign. This can only be completed when the snow has melted unfortunately. The decision was made easier by the fact that we can complete a solid drill program at Adina over the winter without further summer investigations. We also ideally need either Dynavolt or BCC to complete on their investment in order to drive exploration at both Cancet and Adina as hard as we would like."

The pull-out by Dynavolt was naturally disappointing but another will take it's place:

"discussions with other potential strategic partners continue, with the Directors hosting a strategic investor site visit in late February at its lithium and cobalt projects in Quebec and Ontario respectively"

(5 Feb 2018 announcement, bolding is mine)

So we have commencement of drilling at Adina with news flow on progress expected in coming weeks, we have strategic investor site visits occurring in the next 7 trading days, I read on this forum that Wuxi Baichuan Chemical Industrial Co (BCC) has their general shareholder meeting on 28th February (ie. next week), we have today's news that BCC has done everything else at their end, and we know that BCC have an incentive to obtain 5 million+ shares BEFORE the iCobalt record date, which is 4 business days after the date of lodgement of the Prospectus, "which is expected to be in early March 2018" (ie. prior to BCC's deadline of 15 March 2018).

To put it simply, MTC is very tightly held, hence the lack of depth.

Slide 3 of http://www.metalstech.net/wp-content/uploads/2017/12/MetalsTech-Investor-Presentation-Placement.pdf makes this clear:

Top shareholders:

Board & Management 35%
Top 20 Shareholders ~70%

Despite the carry-on on here by a few whingers who don't understand the virtues of owning a smaller slice of a larger (iCobalt) pie with the potential for an in-specie distribution down the track, it is apparent that none of the T20s or board members etc have sold down their holdings. (Why haven't board members bought more? Perhaps they are in a blackout period due to ASX rules. Too much happening atm.)

MTC's lack of depth has obviously meant wild fluctuations in SP. In my 2+ years of share trading I have found that just as what goes up must come down, what goes down must come up - when the technicals and fundamentals are strong. And that's what we have here.

But yeah basically the lack of depth due to tight register has also meant lack of decent discussion on this forum. Hopefully this improves soon enough.

PS. Our tiny market cap cannot stay at this level much longer. When all else fails look at the market cap!

All personal opinion, not advice, DYOR etc