quarterly says less than 2 quarters of cash. With the scoping study, then pfs they’ll need even more cash than their current burn rate. Although that depends on them continuing to drill or not. With that huge exploration target, they’ll probably keep drilling. So I expect another CR. Tough times to raise cash. Will need decent discount, which will send it lower again. Hope they hold off until scoping study announcement. One of the main issues I have with MTC, is management taking a much larger than usual amount of $ for this size company. I’ve already sold over half my holding much higher and have been looking for an opportunity sell the rest if we have a decent scoping study result.
cheers,
ned.
MTC Price at posting:
36.5¢ Sentiment: Hold Disclosure: Held
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