This amplifies my previous post, which was shot down by some,...

This amplifies my previous post, which was shot down by some, that MAT have been skidding along for too long now with limited cash. It worried me that they also borrowed a few million at 12% interest!

Gold digging is a win/lose game. Many have spent millions with nothing to show for it and waste away. Others, with a bit of luck and good resource to mine can reap big rewards. The common issues with goldies is cost of mining and cash on hand.

I find MAT attractive because of a relatively small shareholder base, some 210M shareholders and resources that have potential. But you need money for this. MAT has been increasing its base with placements at 22 cents a year or so ago and now at 15 cents recently, raising $6M. They now have some $8+M in bank, very skinny $ to maintain operations let alone pay for drilling.

At the downside of diluting shareholders further, MAT should raise serious money, say $15+M with a rights issue say 1:2, with options, and seriously advance drilling and exploration and have sufficient money for capital going forward. This will also raise liquidity in the stock.

Do other holders agree?

p.s. In the interest of proper disclosure, I am in the market to by more stock at 14 cents, my rational value to do better than recent placement price. Happy then for rights issue to follow, which I will gladly take up knowing then that they will be better funded going forward. I separately took a position in EAR with NST on the register. After they raised at 13 cents,which I took up, they have now been taken over by NST. With some better $ in the bank, maybe another suitor will take a stake and move in if MAT can’t deliver quickly