MTC-General discussion, page-530

So I guess it's probably either one of two likely scenarios -

First that our non-executive Chairman registered a company named Wodgina Resources and visited the site to help him gain exposure to the process of negotiating a very similar transaction with our own specialty chemicals manufacturer BCC. To find out exactly what is required to build and operate these facilites and the mine.

Or second, that neither he nor BCC think that MTC properties hold a sufficient quantity of spodumene to build the expensive processing facilities needed to produce lithium hydroxide on site and were looking for another source.

The second scenario would explain the registering of the new company Wodgina Resources, but he may also have felt it necessary to try to appear to be operating on behalf of a genuine bidder in order to gain the fullest level of exposure possible.

But nobody is buying on market. Not insiders, not BCC.

That news article called it a Hail Mary play. Is this company dying?

The share price has fallen so far it's as though information may well be out there that calls into question the validity of our exploration target, at Cancet, yet the ASX has not been informed by way of an official announcement.

But we expanded the landholdings at Cancet and we are allegedly going to look for more at some stage.

Information is being withheld, but negotiations are often subject to a confidentiality clause. This fact could be conveyed to the market however, if there is such a clause.