Ann: MTC Canadian Cobalt and Lithium Projects Exploration Update, page-44

Not sure I'm pissed off to be honest, my criticism is meant constructively.

I actually appreciate the audaciously large play this is, if it comes off, as early investors (especially at this price if picking up more shares) we will all do extremely well. We have more promising, at first examination, projects than we can handle, in the right sector to make a killing over the coming decade and all close together in an excellent, stable, mining friendly jurisdiction.

The big idea that is MTC is very appealing, which is why I bought in and so did you.

The fundamentals of the mining exploration industry cannot be overlooked when planning the bigger picture however. Those fundamentals include leasing a tenement, increasing its value through exploration by proving an exploitable resource may be there and then attracting investment to develop that resource. They're the basics.

High risk investment in exploration rarely comes from end users, who need to ensure their supplies for the short and mid term to survive and grow their business. They're not gamblers in the sense that those who invest in exploration are, such as you and me, but need a guaranteed supply.

We can only issue a certain number of shares, as you know, so we may not be able to afford to explore them all at once, especially with a share price this low. So we need finance from somewhere, hence the sell down issue.

But first we need something to sell, we must increase the value of the projects through drilling or sell them to another explorer who can. That's how it works, the fundamentals.

We won't get the price we want unless we can show there's something there. The more we show, the higher the price we get. Fundamentals.

The only saleable project, at a profit to our purchase price, in my opinion, that we have is Cancet. Maybe magnetics at other projects have added some small extra value if they show something, but not much because nobody will know what it is until it's drilled.

We have to get those fundamentals right by drilling. Or sell for peanuts.