Not stoked with the capital raise, but hey, if they are funding more drilling then why not. The assays for the first dill holes are what i'm interested in now. The timing of the CR is concerning. If you expect good results wouldn't you wait and raise later?
In terms of still being too good to be true, it seems like they are sitting on a sizeable resouce with potential from an economic perspective. Cant say I'm sold on management, but it seems as though those who are sour are sour from the lithium days. Bad management or not, lithium explorers and miners have had a bad run. It's hard to fight a falling commodity price.
In terms of price, it seems cheap. I dont understand what is required to get to a PFS and D/BFS and a JORC resource. I dont beleive the resource is currently a JORC resource? but was previously back in circa. 2012. In terms of a JORC resource, what is left to do? their own drilling? or can they leverage off legacy drilling?
From a drilling perspective, holders obviously hope assay results are positive and the resource stays open in whatever direction it's open in (down and to the left on my screen).
Reality always sinks in a little bit, but a few hits and if the market wakes up then I would expect a $50-100m within the next 12 months. $25m seems nuts to me.
MTC Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
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