No, they have sufficient funds for a small drill program. A small big hit can send the share price flying north and any sign of visible gold will just add extra spice and excitement, with record gold prices and that is what I think MCT will/should do and then do the raise.
BUZZ-Australia's Metalicity gains on receiving drilling approval for WA project
19 04 2024 03:47pm AEST
** Shares of Australia's Metalicity rise as much as 50% to A$0.003
** Stock at its highest level since April 3
** MCT set to snap two consecutive weeks of losses, gains 25% for the week, as of 0541 GMT
** Mineral explorer receives drilling approvals for first drilling program at Yundamindra project in Western Australia (WA)
** Adds drilling expected to commence in next 2-3 weeks
** Nearly 8.1 mln shares change hands vs 30-day average volume of 3.8 mln shares
** Stock flat YTD, as of last close
Ann: Outstanding Gold Hits up to 56g/t Au, Drilling to Commence, page-9
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Change
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Mkt cap ! $8.972M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $10.18K | 4.091M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 34 | 59871677 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 68680857 | 66 |
View Market Depth
| Last trade - 14.16pm 14/06/2024 (20 minute delay) ? |
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Change
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| Open | High | Low | Volume | ||
| 0.2¢ | 0.2¢ | 0.2¢ | 100200 | ||
| Last updated 11.33am 14/06/2024 ? | |||||
| MCT (ASX) Chart |