A new thread just to briefly summarize things for people now looking at buying into the company.
I think people are beginning to realise just how undervalued MCT is and just how much potential the company has.
Note that the research report compiled by "Independant Investment Research" valued the company at around $0.19-$0.25 per share, as per the announcement/report dated 30-08-16.
ADMIRAL BAY ZINC PROJECT
- Matt and the team picked up this project at a bargain IMO. They have maintained that a zinc supply issue will emerge and managed to secure a deal for a fully funded Scoping Study which yielded incredibly positive results.
The PFS is now underway with potential JV partner discussions also underway.
- Admiral Bay is the largest undeveloped zinc-lead MRE in the country and 4th largest undeveloped zinc-lead MRE globally. It's worth noting that there is around 130km of untested strike zone.
This system has the potential to be much larger than the current MRE.
-We have benefited from approximately $60mill worth of historical expenditure on this project.
- Admiral Bay is 100% owned by Metalicity and unencumbered.
-We talk about the enormous deposit at Admiral Bay in terms of Zinc which has hit 8 and a half year highs.
We should also note that Lead is surging and has recently hit 3 and a half year highs.
The silver content on it's own is also impressive.
LITHIUM PORTFOLIO
- The largest lithium tenament portfolio in WA. There were around 2500km2 of exploration license applications.
-Key tenaments in the Pilbara (Pilgangoora/Wodgina), Greenbushes and Lake Cowan. We have the largest specific landholding for lithium in the Pilgangoora/Wodgina district (790km2).
- Tenament surrounding the Wodgina mine (MinRes) could potentially feed this mill in the future if they're in production next year.
- Non -Binding MOU with a key member of the Chinese Battery Association (Shanghai Metals) including a $3M share placement @ 7c /share.
-Drilling is underway/planned with plenty of funding to execute the high priority programs.
GOLD PORTFOLIO (also nickel and copper)
The company announced (as per the announcement on 05-09-16) that corporate advisors have been engaged to assist with the evaluation of further gold project acquisitions.
There is also consideration being given for potential corporate restructuring of gold projects in new listed vehicle
-Rocky Gully Project : A 1200km2 tenament package located at the southern end of the Albany Fraser belt.
There has been a significant volume of geographical and geophysical data compiled by the company and previous owners.
We now have priority gold targets that have been identified, with drilling planned toward the end of the December quarter after cessation of cropping and related activities.
-Phillips River Project : A recent opportunistic acquisition (around 754km2), underpinning the company's confidence in the potential of the Albany-Fraser belt to host mineral deposits in addition to the world class Tropicana and Nova deposits.
The area was previously held by Silver Lake Resources who undertook considerable target generation work, however, only limited air core drilling has been conducted.
The company is currently compiling a database of historical exploration results.
-Lake Cowan : The company's primary focus here is lithium, however, gold is also being targeted.
OTHER PROJECTS
-Kyarra Cobalt project: A large landholding of 680km2 providing a dominant position in the Yerrida Basin (an emerging Cobalt District).
Desktop and field exploration underway to identify priority targets once tenaments granted (anticipated March qtr 2017).
-Munglinup Graphite project. Largest landholding in the area (around 1000km2). Drilling is currently being planned.
MANAGEMENT
Andrew Daley - Non-Exec Chairman
Matt Gauci - Managing Director
Chris Bain - Non-Exec Director
Mat Longsworth - Non-Exec Director
Mike Hannington - Exploration Manager
A very experienced team. What they have done with the company to date is nothing short of phenomenal.
They make it a habit to strike good deals, rather than dilute the sharebase, to progress projects.
The deal they secured for the Admiral Bay Scoping Study highlights this, as does the placement with a strong strategic partner, Shanghai Metals.
They are constantly looking for projects to add shareholder value and have positioned the company incredibly well in sectors with enormous potential.
We have enough cash in the bank to fund our high priority exploration. We also have successive months ahead of newsflow and exploration.
It's also worth noting that two highly respected experts, Dr Andrew Scogings and Brendan Borg, have also been involved.
As always, DYOR. I've compiled this from past announcements and also included my own opinion.
It was also done on my mobile phone, so hopefully it comes out legible .
Cheyne.
MCT Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
.
