just a re-cap on what may be around the corner, page-5

Hotfire,

Your simple analysis is ok but we must remember that BND are approximately 1 to 2 years in front of MTE to production and have an allocation at WICET.

MTE has an allocation at 3TL's proposed terminal which the market thus far does not believe. I believe it! Hope I'm not wrong. Hope people are not lying to me.

In the case of no takeover offer in the immediate future I do see MTE being valued at similar valuations as BND 1 to 2 years from now. I know this is not what many want to hear but it is the reality given the timelines of the 2 companies.

BND also have $100m in the bank but that won't last due to it's on going commitments.

Hopefully MTE will have a similar amount in their bank account soon.

I would think that lots of due diligence by potential suitors as well as investors is going on as I write. If these guys are the real deal (nothing suggests to me right now they aren't) investors (hopefully institutional) will start re-rating MTE.

Nevertheless, MTE is trading at a discount. That I know for sure. How much really is anyone's guess.

:)
Nic