Jesus, another change of direction. They haven't really explored...

Jesus, another change of direction. They haven't really explored any of the ground and are now flogging it off. The same happened with the Lennard Shelf zinc.

And what of the cobalt?
Just 500m drilled and targets apparently identified for further drilling, yet no mention of it whatsoever.

So this is the scorecard for the last year as I read it.

Develop Admiral Bay with the battery mineral projects to be spun out and shareholders getting in-specie shares in the new company.

Acquire Lennard Shelf zinc projects as shorter term production possibilities, whilst developing AB continues in the background as the flagship project.

Drill Lennard Shelf projects and the lithium and cobalt in the first half of 2018.

Spin AB out into KML and list it in Canada instead of spinning out battery metals as previously announced.

Throw in Lennard Shelf to KML and become a dedicated battery metals company (with first mover status according to the company).

Sell off part of the key battery metals ground and concentrate on nickel and copper down south. No mention of other key ground (cobalt) at all.

So now we wait on KML to list so we have the funds to become a truly grass roots company again.

Matt assured me KML was on track to list in October as planned when I rang him in early September. 3 weeks later the company announces the listing is anticipated during the Dec quarter (so anywhere from Oct to Dec).

No prospectus yet so at best KML coild list by the end of the year imo. But would they list right at the very time brokers are heading off for their annual break over Christmas? Unlikely imo, so you can add a month on at least and that's if there are no further hold ups such as needing to issue a Supplementary Prospectus or extensions due to lack of interest.

As delays are likely before MCT get any more cash from the listing of KML, the chances of the company actually drilling another hole somewhere seems remote, especially as the lithium and cobalt were where the time was spent to identify ready to drill targets.

Why employ an independent expert to identify the lithium targets and then flog the ground off? Why did they bother acquiring the land off Twiggy in the first place if they weren't going to do it justice. The same with the Lennard Shelf zinc projects and what of the now unmentioned cobalt projects.

How can they expect the market to have any confidence in them when they never follow through with a plan?

Seriously, they seem to have the attention span of Homer Simpson.