I wouldn’t get too excited about today’s announcement, both today’s and last weeks announcements appear to be copy and paste reports based on information dished out over the years.
The recent price spike, to me, appears to be day trader induced and Forrester, the MD of Mount Burgess, will use this as an opportunity to do a placement so he can carry on supporting his 2 staff ( which comprise him and his wife), which he has done for the past 35 years, during which time, at full salary, he has destroyed the company value, lost almost all the shareholder funds raised & the share price has been destroyed, down 99% over 35 years. To me, the outlook is clouded by a few questions- - will they ever get power, it is so remote and there is no power and without power there is no project & no feasibility - will the license be renewed - is the very low grade find a feasible venture; - do they have the management to pull it off ( Forrester is in his late 70,s) and he has done nothing other than destroy value over 35 years.
my prediction: next they will announce a placement to sophisticated investors and nothing of substance will happen other than an extension of the teams employment ( the team of 2, that is!).
MTB Price at posting:
1.3¢ Sentiment: Sell Disclosure: Not Held
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