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Don't be fooled by the 10Bt reports. Whilst they *may* have this kind of resource, MTE's immediate plans are to delineate ~1Bt from Coolumboola. Anything more would be a bonus at this stage.

As to the potential value of MTE, a good comparison IMO is BND. We are about 1.5-2 years behind, possibly less with the aggressive drilling programs.

Prior to June 2009, BND had a resource statement similar to what MTE have now. They were trading at $60-$80m. Once they announced their billion tonne resource (also a JV), BND doubled to ~$150m and have risen from there through their continued work in resource definition and confidence. They now have a market cap of ~$700m and are targetting WICET Stage 1 for 4mpta (MTE: WICET Stage 2 for 12mpta). All this in 18 months.

I feel that MTE are following pretty close to the BND story, only bigger and better. Confidence in the management team is a key factor here as well.

There will no doubt be dips along the way, but if you're like me, a long term view on this can potentially yield a "ten-bagger".

All IMO - as always, do your own research and make your own conclusions.