It's very strange when we look at everything that's happened since the offer was received in January when MTC was trading at
25c :
- Gold price has strengthened significantly from $2,000 to $2,160 Breaking out to all time highs.
Also very important is the placement on 22/12/2022 to the 10% MTC major Chinese shareholder
at 40c when Gold was just $1,800So since the first offer was received, you could say the Gold environment and Npv has significantly moved in our favor to receive a more favorable offer rather than a less favorable one.....
Significantly !
So it must be just this Underground Mining permit anxiety & Cash balance anxiety that currently gives us enough cash to negotiate until Mid May , or another 2 months before they would need some more short term cash...
Let's be clear, if the 10% shareholder gave them $$$ millions at 40c when Gold price was just $1,800 then it's in there best interest to give them as much as they want at 20c isn't it to increase there stake at this late period in the game , so i think it's fair to say we ignore that worry.
I've got no clue about Mining permit waiting time other than they expected it in First quarter this year, which is within 2 weeks time.
Market at 16c is pricing no permit /delays , so i suspect when that news drops we get a revised higher bid straight after , more cash on settlement and less down the track because the Chinese 10% shareholder wants there 40c back and wouldn't want to wait...
They also want a premium to 40c as Gold was just $1800 when they made that investment, so you could expect they are wanting Minimum 50c Cash on settlement day . Minimum !
One thing is 100% guaranteed;
" If you don't have your ticket to the show at 16c, then when the trading halt comes, you won't be seeing the show, that's for sure " 
(20min delay)