Well, a few months ago the SP drifted down to about 10c so anything is possible. Personally I think that was a greatly undervalue price, though, as the MC then stood at only around $15M. We won't really be able to judge what's a fair price until they turn out the scoping study I don't suppose. We need to know how much gold they think they can economically mine underground. Previous figures quoted for underground have been very low so a lot will depend how much can be added via this Phase 2 drilling campaign. I don't know if they have commenced any of the promised wider exploration drilling yet - probably not - but some good assays from that would help re-engender buying interest. As to whether investors were 'hoodwinked;' if they were then they hoodwinked themselves. Firstly had they taken the trouble to do their own sums they could have worked out the real value of the WR1 shares and also, had they read beyond the 'bonanza' headlines they could perhaps have made a better assessment of the value of the recent intersections. We could drop into the 20s but I still think we might hold in the 30s, as long as there isn't a long pause before more assay results.
MTC Price at posting:
42.5¢ Sentiment: Hold Disclosure: Held
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