while Cancet has high grade at surface, Their target of ~20 mill tons is just a target. I’d guess they’ve defined somewhere around a 1 million tons from their drilling so far. So they really need to find some more spod for that 20 mill target to ever get hit. . I’m not sure how they came up with that target figure though? I would assume a qualified person would have to have had a look at the aerial magnetics or something similar and management didn’t just pluck that figure from outer space..?
the spec end of the market is just dead at the moment, and the lithium end is even more dead. Wouldn’t surprise me if management are just waiting it out for money and confidence to start flowing back into this end of the market. . Which could be 12 months from here IMO.
all in my honest opinion
MTC Price at posting:
2.5¢ Sentiment: None Disclosure: Held
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