There are examples like LTR of 20+MT JORC resources at good grades with good locations that still have sub $30M market caps. I believe if MTC raised money currently even as drilling progressed with good results it would be at sub 10c so the amount of dilution the drilling would cost would mean Cancet fully realised could only result in a ~15-20c share price. Obviously that would be life changing for anyone averaging down at these prices right now but for those that threw in millions of dollars at 20c, 24c and 30c and anyone wanting to hold long term it isn't really enough upside from the flagship project. I'd still rather wait than have my holdings diluted, and the fact MTC hasn't had any dilution at low share prices is why I'm still here.
MTC Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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