As I'll be holding MTC for long term, I'm more interested in current drilling, good results rather than WR1.
IMO, the drilling updates are the main reasons behind constant price rise with high RSI - (though spinout could be small part of).
We can easily notice If we look back the price movements on 2 days when drilling updates were released and the following days.
Also, I like seeing this "more updates will be released in coming weeks" in their announcements. Maybe it's a bait but who cares, this keeps momentum going and sellers, shorters to have another thought.
Very much like of their strategy/timing of announcements as well. For example today, it was rapidly falling in morning hours then at 12:40pm, bam! WR1/China update was released for sudden bounce after to finish just below 70c. I don't think this update would've had much weight if released on normal trading days.
I'm already holding quite good volume and looking to top up if it drops below 55c.
I wouldn't say MTC could hit the jackpot and follow the path of CHN (now $2b MC).
But can't say it's impossible either. It's in different zone, continent.
Regular drilling and essay updates could still drive up the price, no matter what.
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