Ann: Appointment of Technical Director - Mr Clifford Fitzhenry, page-60

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Mastatrada

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05/09/24

21:54

Post #: 75550874
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Originally posted by gberra: ↑

Won’t be surprised if they extend the suspension till Mon or Tues. There is a fair bit that needs to be cleared up in announcements. Gino has created a fair bit of confusion with the last few. I suspect we will still have a lot of unanswered questions ie

1) Why have 2 directors been the only shareholders able to sell at 53c ( 18c and 99c ???). How is this not insider trading ?

2) Who is minerva and do they have the funds to purchase MTC ? If so why are the funds not due till Dec ?
3) If Minerva don’t have the funds to buy MTC then why sell them a blocking stake ?

4) Is Minerva just a decoy to flush out another bid ?

5) Does MTC need more funding in the meantime ? If so why didn’t they sell new shares in MTC at 53c per share to Minerva instead of Directors shares which don’t add to MTCs coffers ( unless directors give an interest free loan ). Even selling the SPP shortfall shares at 23c instead of some of the director shares would have at least provided some funds for MTC

The positives are -

2.5 million oz Au in ground at decent grade with likely resource extension.

Great scoping study results.

A very healthy gold price.

The fact Gino still holds 17 million shares or so even after the sale.

They found a 3rd director ( ie not trying to remain suspended ).

They got rid of the Lithium assets ( ie pushing for a clean TO ).

GLTAHs

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Definitely valid questions, slight correction is that only one of the sellers was a director, though the other is definitely a company insider

MTC Price at posting: 26.0¢ Sentiment: None Disclosure: Held
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0 Great analysis

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