I spoke to David for probably 20 minutes yesterday. Again I apologise I’m sure I didn’t get all of the questions out but will try derail as best I can.
1. Reiterated again BCC invested in MTC as a supplier of battery minerals in general. They’re interested in Cobalt supply as well as Lithium, so they’re ok with the exploration plans
2. Asked about working capital, and he explained there has been a lot happening behind the scenes and they’re pretty confident on the drill targets they’ve identified. The tax rebate will obviously assist them, all paperwork is lodged and they’re now just waiting for the refund. Obviously he couldn’t disclose what the plans were for any further capital injections but he didn’t seem overly concerned with this one at the moment, so I assume a strategy has been developed
3. Majority of these projects are now performance based, so if they don’t deliver something, they don’t get anything
4. The legal claims. He explained it’s something which they’re not concerned about and they are working through it. It’s a case of damned if they do announce and damned if they don’t, so he decided to just announce it so they can’t get criticised if they don’t
5. The quarterly yes wasn’t the best, but they’re trying to work through changing the announcements and detail in them. But we need to understand this can take time, but they’re wanting to get better and improve on past performance.
6. Last of all it was 5.30pm when I was talking to him, they were working late and we should watch this space over the coming week or so. He said the detail is coming, they’re not happy with the share price either. He was quite clear on that.....
Again I felt better after the discussion and it sounds more like they’ve developed a strategy and they’re executing it. Just the announcements obviously need some more work, but they are just like us, wanting to see this reflected in the share price. Good to get some acknowledgement around this, and I’m now going to see what does come out next week or two and hopefully we see this reflected in a more buoyant share price. Apologies if I didn’t get all the q’s in I tried my best
Cheers Guys
MTC Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
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