Ann: Application for quotation of securities - MCT, page-5

Sold out of MCT today and somewhat relieved despite the capital loss. When one considers they are aiming for a million on the capital raise; of which Steinpreis will get his loan back plus interest, there's 150,000 plus 6% gone. Canaccord will get 40k, and costs of the CR, so we're down another ~50,000. So 20% gone *poof*. The directors indicated that suppressed wages would occur until the next CR, so expect them to rise again, and another bite taken the quarter following. Probably a further 20%.

So that leaves 60% for a drilling run. Likely one shot, maybe two at a stretch. 'Desktop analysis done on publicly available resources' means we could also offer places to drill, if we were prepared to send an email and have it read. It will be more of the same, confirmatory drilling of historical holes with a few new ones thrown in. As to being open at depth, yep, it probably is. Are you gonna mine it and bring some cash in, not possible for a good few years.

Then there's consolidation. 10:1 equals issue price of what, 2c? Thats still a penny dreadful. This will dip very quickly eroding the value I could at least get at two tenths of a cent now (as comical as that sounds).

Admiral Bay. I genuinely hope for all holders they do flog it for the millions promised, so it adds to the kitty. So then they can inflate the board with a few extra pals, none of which know how to plan a Gold mine, the 'administrative otgoings' can go up, the command centre can move into more plush digs with better local massage parlours and maybe, just maybe, they might do a few exciting drill holes adjacent to historical ones.. or buy some more NME shares. Who knows?

Anyway good luck all, this is my own opinion etc and hope you get some bags.