Gino needs to explain forward funding plans, which we may get a...

Gino needs to explain forward funding plans, which we may get a sense of in the next week when we see the Sept Qtr Report, or at the agm next month.

This silence is creating doubt and plays into Minerva's ( read as China in general because they all work towards one goal) hands.

I don't believe the current sp has anything to do with cyanide restrictions or mining methods because this was known prior to the non binding offer and Minerva's acquisition of shares. Even the need for an equity injection doesn't explain the sp as the loan repayment has been pushed back until after the pfs and the issuance of performance shares, if MTC sticks to it's timeline on the release of the pfs.

Trans Metal was prepared to pay US$81m (circa $120m) for Sturec but Gino wanted them to acquire MTC due to the tax implications, at least that's what we were told.

I have my own theory as to what is going on but won't post it here as it is pure speculation and could be considered defamatory. So I'll just wait and see what happens and buy more if it breaks lower again.

This end of the market really is just gambling as we usually only get the full picture in hindsight after we've already thrown our hat into the ring. As a result we often get burnt. Look at TNC, which went into Voluntary Administration yesterday after one week before releasing a glowing report on how they were about to become Australia's next copper producer and forecast $200m free cashflow over the next 4 years. Some would argue that the constant selling over a period of time prior to VA was a signal of insiders getting out.

There is inherent risks for emerging producers who often burn through cash until they get the mine running profitably, as CAI holders have also found out very recently.

There is vultures everywhere who take advantage of our corporate laws which offer shareholders no protection and therefore encourages collusion which can rarely ever be proved and is mostly ignored as it takes too much time and money to pursue.

As an explorer (I use that term loosely here), MTC can more easily control the rate of cash burn so getting enough cash to fund necessities should be quite easy, though somehow MTC managed to stuff up the 23c raising earlier this year and compounded the current cash shortage by choosing to pursue a private share sale that benefits a director over the needs of the company, leaving MTC paying around 20% interest on the current loan.

Without clarification of the company's recent actions and future intentions, we each let our minds run free with our own theories which could be anything from wildly negative to extreme positivity, which shows that none of us really have a read on the situation here

Just my opinion.