Ann: Investor Update, page-15

Neighbour(IR1) up almost 100% in a month just on drilling hype

mct’s previous dill results and current drilling didn’t create lasting effect

imo investors are going with better management to park up their cash, just look how pathetic mct management handled past 18 months

Where we are now.

As pointed out previouslyMCT has a 51% controlling interest in the Kookynie and Yundamindra Gold Projects through the Joint Venture Agreement and NM
has a minority interest in the Kookynie and Yundamindra Gold Projects which is a weakened position as well as cash position to boot with balance sheet position. As shown on past figures more debt  shown also by  debts and payables directors$2.4mil out of a total of $3.4mil. and has weakened NME lending potential on paper and would likely be diluted further if NME cannot co-contribute with MCT;

Also pointed out MCT reported a positive net asset position of $6.08 million in its 31 December 2020 accounts and has subsequently raised $3 million.

Hotcopper has market caps.  MCT: $19.29m. NME: $9.345m.  Around 2:1

MCT offer for shares 4.8 MCT. Shares for 1 NME share. Dyor

An MTC application has been made with the Takeovers Panel 01/10/2021
At that time a sitting Panel had not been appointed at this stage and no decision had been made whether to conduct proceedings. The Panel at that time said it makes no comment on the merits of the application.

On 29 September 2021, Nex Metals announced that it would undertake a 1 for 3 non- renounceable rights issue to raise up to $3.115 million. The announcement disclosed that the rights issue would close on 5 November 2021 (subject to any extension).

Metalicity submits, among other things, that the rights issue will frustrate its bid and impede the potential acquisition of control of Nex Metals, without Nex Metals’ shareholders having the opportunity to choose between the rights issue and the bid.

The earliest Metalicity’s bid could close (assuming a one month bid period) is on 8 November 2021

We await the decision for our direction so we can move one way or another..