Ann: MetalsTech Acquires Advanced Sturec Gold Project, page-220

I didn't buy yesterday as much as I would have liked to. Noticed it when it was about 250% up. Stupid me, I thought it was MCT, and not MTC, which I know well. It was my first day home form work and was distracted whole playing with the kids. Owned MTC back in the Li day and sold when the Chinese partnership folded.

Anyway, it's in an interesting position now. I've done some research on the gold play, and it certainly has worth. Whether or not MTC is the company to bring it to fruition is another story, but I would be prepared to give them the benefit of the doubt for the time being. It seems to me that the previous owner let it go due to the several years of waiting for the mining permit to be granted. They have other major interests in Africa, and have focused there. This is a simple, and possibly incomplete explanation, but these few facts are stated.

Yesterday's ride was obviously excessive, and the small SOI would have contributed substantially. As an example, take MRQ announcement today. Great mineral sands project, and a much more reputable company than MTC, but about 500M SOI from my quick calculations. Sellers appeared very thin at first, so 80% was achieved quickly, but from their off screen positions, large holders were very happy to unload into the buys keeping the price from running too far. This was the opposite to MTC yesterday when there are very few large parcels to dampen the rise. Rather, what happened was that the buyers bought eagerly upwards and the sells were just enough to feed it. For as long as there were smallish parcels just above purchase power, the northerly trajectory was easily set in motion. This is typical of a small SOI in demand.

What next? Probably the 50% retrace at 6.9c. Not far from here. Afterwards will depend on the continual strength of the gold project being formalized. That doesn't normally occur overnight, so there will be the normal period of what @Patterns calls the contraction stage: Steady price. The project has potential and the free float is small, which all bodes well. Company now only has to deliver.