I might be wrong, but I think this is the first cash MTB has raised in about 5 years (probably wrong). It's certainly the most in a long while. I don't know what the guys at GBA are thinking if Ga and Ge are their interest, but all that aside, Kihabe/Nxuu is a good Zn-Pb project. It just doesn't have good management.
I think the Ga/Ge are tied up in micas or silicates, and are therefore refractory. Never see a gram of either come out of Kihabe.
The vanadium as descloizite might be something recoverable. But there's very little in the ways of reasonable assaying of it, most of MTB's data seems to predate the dinosaurs and so they'll need to redrill or reassay their pulps. Companies like MTB, do they keep pulps?
But lets put our thinking caps on. MTB has $530K before costs.
They're proposing metallurgy to "recover" Ga, Ge. That's got to be a good $20K just to pay a met to research it. Then they'll need some sample materials. Doubt MTB has any, happy to be proven wrong, so that's drilling. Give that 6 months, and it'll cost a good hundred grand at least. Then they have to do the tests in the lab. 6 months, minimum, and probably another $100K. Listing fees, office rents. Nigel probably has a bunch of bills he's got to pay which have gone flapping when the company has had no cash.
I mean, the chances of this squirt of money resulting in actual progress is about zip.
MTB Price at posting:
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