I've finally come to the realisation that it is highly unlikely MTC will ever come out of this downward spiral - in my opinion of course.
Nearly No cash, No executive directors No full time management team No projects worth exploring alone (paraphrasing the words of our own chairman there) a stock price of under 2c. which means raising money with a yearly allowance of 25% dilution would result in raising the huge amount of $500k (just administration and corporate costs were $276k last quarter..that's with no full time management team!!) What exactly are those costs? and why are they so high with such a small, part time management team?
Have the lodgements for the remaining ~$1.9m in exploration claims been approved? or are they just claims that could get knocked back?
MTC had $441k last at the end of last quarter. how much of that is left? and what about the claim for $131,000 from the previous directors?
What's the next "acquisition" going to be? another one from Glen ? with some gold at surface to get the investors excited? pffffft.
Absolutely disgusted with this company
All in my honest opinion.
MTC Price at posting:
1.7¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)