Pretty good entry point at the moment, very little risk when buying 1mil ounces in the measured and indicated for about $11 per ounces... it seems the government is quite motivated to get industry happening with underground mining permits coming back quick...
I’ve seen little unloved projects like this get rerated significantly on good news... I believe upcoming drill results will rerate us... with last drilling program returning 130mt hit, with 89mts over 6grams per tonn, that’s really significant ... as we move towards being deal ready in 2021 in-ground ounces will be worth over $100 per ounce.
Patience is required... I can’t see too many selling from here... there’s only a little over 100mil shares on offer, management own nearly 30%. Of them... the share registry is has really strengthened now... new and strong hands will be holding on tight... why would you sell at $11 per ounce at this stage.
MTC Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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