Lucky dog, Scorp - I tried to top up today at 32, but was unsuccessful. Good on you.
Regarding MAT & future news, keep in mind the following:
Although Ni-Cu sulphide deposits can occur as individual bodies, groups of deposits may occur in areas/ belts 10's or even 100's of kms long (called districts - think Sudbury Ontario, Canada & Noril'sk-Talnakh, Russia). If MC calls this a new district - I believe him. In this case, the district would surely include MAT.
MAT longs would benefit from reading all SIR's ASX announcements going back to 2010. There are hints/ clues in there relevant to MAT.
Whilst elevated levels of Ni-Co could be explained by lateritic enrichment, the presence of Cu suggests possible sulphide mineralisation. Basu - has given us hints.
Said it b4, but I take my hat off to MC, MB & SIR. They were the trail blazers who put in the hard yards. Recall that SIR announced on the 25 Oct 2011 that they had discovered a broad zone of Ni-Cu-Co enrichment following their first drill attempts at the Eye. It took another 9 months for the market to wake up & we have seen SIR turn into a 60-bagger in around 4 months. 60-bagger!
I don't think MAT has the same potential (in the ST) but it has several value accretive points including:
Cashed up to aggressively explore their SH target. Whilst elevated levels of Ni-Co could be explained by lateritic enrichment, the presence of Cu suggests possible sulphide mineralisation at SH. MAT could be the next flavour of the month. Relatively low number of shares on issue. Tightly held (by mgt). Less than 10% of issues held as options. The next massive sulphide mineralisation.
Could keep going, but MAT holders know what I'm on about.
GLTA.
Deme
MAT Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
