So what's now for MTC? Definitely they are now working to complete PFS not to progress the project but to convert their Performance rights into shares so that they can sale. Market clearly knows, given their past performance, it is gonna take long long time. Their timeline is December this year but in my opinion it's gonna take at least six months or so. Some might argue, they have December deadline for their settlement but I have seen extension of time for this type of agreements lots of time in the past in several occasion so that is not a problem. With all this market is clearly not interested to buy at this moment rather some retails are selling specially who can not hold due to their financial situation.
I think this will drag like this for quite a long time unless some other twist takes place. In the meantime we will require CR to keep the boat afloat which means more dilution. I still can't understand how the independent director formed the view that the transaction will be in the beneficial to the general shareholders and how the ASX got satisfied with that view.
Anyway, I am still holding and will hold to see the end of it. Good Luck to myself and all other shareholders. All in my opinion only.
MTC Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
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