The 'purchase value' is dependant on the vendor's prospectivity expectations imo, given the projects were largely paid for in MTC shares.
The 40km of drilling in MQR can't be used for a resource calculation, they have only 2 drill hole results released and drilling has been halted due to bushfires so I can't say I can agree they're ahead...
Comparing with TAW is more like an apple plant to an apple tree, rather than apples and oranges. This is why I used LTR's own graph and exploration target to compare with.
I'm not sure why you'd even want to read a Hotcopper poster's 'calculation' when you are doubtful of a very wide ranging target produced independantly by Dahrouge geological consultants, a reputable company that has been around for ~50 years with a team of very highly qualified and experienced geologists...
Yes a target involves a lot of 'filling in the gaps'.
The senior geologist behind the $1 MTC research note estimated a 15Mt at 1.6% resource at Cancet before drilling even started, based on all the other information available to him. What do you know, after drilling the target was 15-25Mt at 1-2%, so he was within that range without a single drill result to rely on.
I'm not saying with 100% certainty that it will fall in that range but I expect it, especially given the prospectivity of the East extension. Even if it doesn't, the nature of interpolation means it is much more probable that it will be very close and still profitable than completely different and uneconomic. Shallow, high grade deposits in good jurisdictions don't need world record tonnage to be profitable, as the neighbouring Nemaska has shown.
MTC Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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