Ann: More Impressive Gold Results & Approval to Drill Big Anomaly, page-37

Yes Chang Mei, your point is well made, it definitely takes deep pockets to play this game, and as you say (and as I have pointed out here previously) the price is being capped.

M&A is a possible play here, but you might think that any hostile bidder would let MCT spend their recently raised money to prove up the resource first and at the same time clear their obligations to NME

MCTs' board would probably want a lot more than the current MC of $36m, and so would I, but then any bidder would also want to buy the remaining 49% of the pie which is NME with a MC of $15m

The thing is the bidder would want a better idea of ounces in the ground, so why not wait until the drilling has been completed and the money spent.

However if your theory is correct, yes this could be a hostile bidder with gold in the area who are gradually accumulating for their hostile, in the meantime though we should see an announcement regarding a new substantial shareholder, but nothing yet.

So it may or may not be the story, but in the meantime price is being capped IMO and MCT are not getting proper reward for what they are bringing to market. I do follow a lot (and own a number) of goldies, so believe I have a feel for the market and something is not adding up here.

Time will tell the story, and all MCT can do in the meantime is drill more gold, I believe if they continue to do so, then sooner or later the price will definitely rise, so bring on the drilling; the main thing I want to see are more good intercepts at good to high grade.

The whole thing doesn't overly concern me, my point is to put the matter up for discussion, so thanks for your thoughts.

In the last 12 mnths I was a holder of SPX and ARS, and they were both bought out, but I still managed to do well on my investment in those companies, however I would have been happier to see them both go higher.
You've just got to go with the flow and move on.