I was reading something last week, can't find it again yet, which suggested it was easier to offload a project cheaply before it has reached a certain stage of official development in proving up a resource. I'm wondering if that's why we stopped drilling Cancet, so it's not too expensive for whichever entity is lucky enough to buy it or a substantial share of it. It would be more likely to help convince shareholders that it was a good idea to sell what looks like our only proved resource if the company was run right to the edge of running out of funds with a depressed share price to make raising capital from issuing shares less appealing. Could this be a deliberate ploy? A kind of robbery?
This is not an allegation but a simple question to aid thorough analysis.
Almost a year ago plans were announced by the company to drill stage 3 of Cancet in January. 9 months ago. Why did we stop? Who in their right mind would stop drilling and advancing as rapidly as possible a shallow, very high grade lithium ore body starting at surface?
In what way could moving ownership of it into another vehicle potentially benefit those who could influence such a decision and bring it about?
MTC Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
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