We appear to have spent a vast amount of the money raised for the purpose of drilling Terres and many of the other lithium projects we listed with, on aquiring cobalt leases which were then originally to be spun off at terrible terms and limited allowed participation for MTC shareholders.
Then we spent the funds specifically invested by BCC to further drill Cancet and do the scoping study for that, our only proven asset, on drilling what have so far turned out to be dusters. Adina and Bay Lake North are dusters by the looks of it.
So now, with a shareprice trading between 4 and 5c we will need to go back and drill Cancet somehow, as an imperative, in my opinion this is blatantly obvious, if we can get the funds to do it. Funds which we already obtained from BCC but allocated elsewhere apparently.
When will Terres be drilled? By MTC? My money is on never. Didn't we just lose some tenements there also? When they expired and we didn't renew them?
In my opinion we drill Cancet or die now. Our BoD may well have blown it.
MTC Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
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