This seems like an average result, at a 0.26 g/t low cut-off, which they may have used in order to get a result over 1.5 Moz, which may have been necessary for directors and consultants to take their bonuses. I'm very wary of these guys. No-one has ever used a cut-off grade that low. They probably will never mine the project themselves. And as pointed out by other posters, the real cut-off should be a minimum of 2 g/t, but for underground mining they are going to need at least 4 g/t, which actually gives them a high-impact short-life project of 212 Koz. At least 93% is in measured and indicated. Over the next 3 to 6 months I'd expect this to retrace below 20c. The only reason I can see to be in this stock is for the Lithium spin-out and the executive who is leading it.
Gw
MTC Price at posting:
24.5¢ Sentiment: None Disclosure: Held
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