BOA are Mathews Capital source of finance. They are not dogs. They are dogs to those that can't handle downward volatility (for as long as it will take).
Regardless of share price, tell me of any upcoming thermal coal developer that has a Chinese shareholder holding 19.6% of the company and one of the biggest coal miners/traders in China Coal (Sinocoal) that is a 51% JV partner in Columboola/Goombi?
Shareholders/on-lookers forget that MTE is best placed of all upcoming coal developers.
DADI has invested close on $29 million for 19.6% shareholding.
Sinocoal committed to $30 million spend on exploration for a 51% interest in Columboola/Goombi. They would have at least $10 million left to spend.
At 16 cents MTE is capped at $33 million. Has $10 million in the bank.
The market is the market for all. At some point, maybe this year or following years the market will re-rate many coal developers regardless of delays in infrastructure etc.
The biggest hurdle for most is CAPEX. MTE is best placed to find funds through DADI, Sinocoal, a future JV partner at Bundi and last but not least a bullish coal market.
When that happens is as I have said previously - anyone's guess!
Once they start to upgrade from indicated and measured resources to reserves they will attract a very different audience.
When that happens is anyone's guess also.
The jewel for MTE now is Goombi. It and the rest of Columboola has a value now in my opinion. $30 million for it's 49% holding?
Add to My Watchlist
What is My Watchlist?