MCT (ASX) Ann: $3 million Oversubscribed Placement Completed

Originally posted by SCJH: ↑

Hi S1r1us, thanks for the comment, I think it's been a while that I see your comment here, I hope everything going well with you.

The selection of SP, I think my context was that at the beginning MCT had zero gold asset in Kookynie area and the SP was 0.002 and now the company achieved JV and it's now 0.010. From an old investor's side it's still x 4 times profit but from myside... it's close to -50%... but what I really want to say was that IMO SP increased because of its potential, everyone may have different rationale but in my case, I invested because I think it has a potential.

Thanks for your kind reminder of legitimate concern, noted with thanks! Just to backup myself, I didn't have any intention to advise someone's position - as I clearly state at the end of the writing, I could be wrong (of course) and it should be an individual decision.

I think this is a hot issue now "Assays turnaround time".

First of all, I personally don't think they can sitting on unreported assays as it is price sensitive matter which is breaching the AXS rule. also I have indirect information/ theory to support that - I will talk it later.

Your 2 months cycle makes sense but I think we need a evidence to prove this cycle theory - a) they are sending samples every 2 weeks, b) labs can start their work right after they receive sample (no queue?) c) it takes 2 months?. I really want to find a lab and give a call to confirm but I cannot find it... if anyone has that information please share. So IMO, as I cannot find lab turnaround time from the other source, I decided to trust the company's update - which is that they said delaying assay turnaround is causing a lot of issues not only for MCT but for all industry and they are expecting the assays are cleared over the coming weeks.

My theory - happy to be corrected so please share your feedback.

1) Neighbours' activites

You know that we have couple of neighbours around Kookynie area and I am monitoring their activities as well and from my monitoring there are no company delivered assays after Feb (except CAV) - maybe they are no longer drilling in this area but it seems like their assays are delaying as well.

From my monitoring
GTR - Last announcement about Kookynie - 15/02/21 (granted license: not drill result)
GES - 21/08/20
CAV - 11/05/21 (AC results), 28/05/21 (they completed drilling but no assays update yet) They started drilling Dec 2020 and saying they did 135 holes but only few results are released.
GMD - 17/02/21 (Assays - oriental wall)

Limitation is that none of the above company tells how many drill samples were sent and waiting which I think MCT has better communication as at least they saying how many assays we are waiting.

2) Recent CR
As you said we did CR twice, first one was @ 2.0 for 5M. second one was @ 1 for 3M. IMO recent CR was better deal (was more difficult deal) than the first one but company successfully completed it. I assume that sophisticated investors and IB banks have better information or insight than us as otherwise they cannot achieved this CR. So my guess is that if it is true that they are sitting in unreported assays they will be a big trouble.

So I think I don't need to worry about "Unreporting issue"

All in my opinion only and do your own research!

Cheers

Expand

Still no updates, still no further drilling, still no updates on "visible gold", still no JORC, still no AB update, Please dont come asking for share incentives and further salary increases at the next AGM meeting. If anything put up an resolution for a reduction and hold in salary will be a better idea!

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(20min delay)
Last 0.2¢		Change 0.000(0.00%)		Mkt cap ! $8.972M

Open	High	Low	Value	Volume
0.2¢	0.2¢	0.1¢	$14.49K	7.258M

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