Probably not quite. They still look in command. If the SP can stabilise at around 50c that'd be a fantastic achievement for a stock that couldn't hold 20c a few months ago. Since then we've spun-off the lithium assets, gained a nice cash balance and drilled a couple more holes containing narrow very high grade gold. So all things considered I'd say 35c would be fair value at this point in time. A lot of recent buyers simply paid too much for their stock, since the WR1s were never worth a great deal (as I showed in another post recently). Additionally, I'm sure a few were taken in by what appeared to be wide high grade intercepts but not realising that almost all the gold was contained in only 1m but averaged out over many metres. If results from the next few drill holes are very good then we may well be on the rise again, but for the time being, if we hold 50c or even close to that, I'll be very happy.
MTC Price at posting:
50.5¢ Sentiment: Hold Disclosure: Held
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