Ann: Visible Gold Identified in UGA-06 Drill Core at Sturec Mine, page-11

There's many things that affect the gold price and i would agree that covid and the outcome thereof is one of them.

Whilst there has been much positive news relating to covid in the short term and that's definitely a positive, i do think that there are many many underlining economic damage which has been done and propped the market to an extent.

regardless, without attempting to factor all elements to determine gold price, i find that charting is the sum of all knowns and is sometimes the easiest way to make a call.



Red zone is when the price is oversold and typically has been a very very profitable time to invest in gold.
by my eye, we're only a few weeks away from entering that zone.

So whilst there may be some news teetering the price possibly down, i think there's a number of other factor which may cause it to bounce.

Irrespective of that. At 1800USD/t i think you'll find that a lot of mines will be economic at this price.
given MTC is still quoting the historically known g/t values for undergorund and open cut mines i'm very very confident that regardless of the gold price this sturec project looks eeconomic and at scale.

Finally on a peer to peer basis, you need only look to company like RMX who is the highest volume today. It has no jorc and released results for 1.7g/t at 7ms 100m depth. MTC hit 90m's at 3.8g/t. Has 6m sections at 30g/t. given their mine is a vein deposit it can only be open cut from a small portion and then would need to go underground and under 2g/t not economic.

MTC has 1m ounce of the table already and much better grades. both these companies are value at close the the same market cap. If you look at MTC's MC/ounce ratio. Its extremely low.

if you look at their confidence of geology level its very high.

Meaning not only is the project larger and better grade than peers.
The mineralogy is also better known. aka, not much drilling to be able to input into feasibility studies and mine.

all this whilst sitting at a very low MC. IMO 100M MC is fair value at current. With upside on resource delineation on step out as well the studies.

This is a very prospective investment for me.

*disclosure abg is 15c. I plan to free-carry when this doubles or triples which is my long strategy for capital preservation.

SF2TH