Near-term 3 bagger on VTEM only?

I wouldn't normally write on this play so early but I just noticed a ramping newsletter in my email inbox after close that's doing only a little service of info sharing, with obscure claims and comparisons to SIR. I'm surprised they did a write up on this stock, given the very early state of play and lack of liquidity.

However due to the prospectivity of the terrain and probability to throw up a VTEM conductor any time, IMO, this stock is a fair chance to multi-bag within the current exploration spend. Downside is cushioned by a market cap sitting under $2m, little more than most shells.

So my header is titled along the same lines as the promo, but just to add a few things for anyone who read the article, and thought it was a bit vague:

Firstly, despite being in NZ,the geological context is a fair analogy to SIR's Nova / Bollinger. Like the Fraser Range, potential Cu-Ni sulphides targeted by MSC are derived from mantle upwelling from a hot spot at a spreading centre proximal to a continental margin. In this case, rifting at the Gondwana - Pacific margin before NZ broke off from Australia (and took all the sheep and rugby players).

The Ni-Cu sulphide hosts that MSC are targeting comprise a vertically emplaced mafic / ultramafic intrusive conduit bridging deeper more primitive chambers and higher differentiated and mixed magma. Again; Fraser Range style layered intrusive hosts, in this case forming the Riwaka Complex. MSC has agreements with payment triggers to rights over about 100km2 of the complex with a strike length of 26km.

The company has identified "numerous massive sulphide occurences and untested gossans". Limited and shallow drilling in the early 1970's hit 1.4m @ 2.2% Ni and 0.6% Cu. Sulphur sources are postulated to be by contamination with country rocks, mixing enroute and / or fractionation. The prize obviously, is to find where these sulphides have become trapped and settled as Nova / Bollinger style massive sulphide accumulations.

OK. So put simply, the hosts IMO, are prospective, and primary Ni - Cu sulphide associations are known, compared to many Fraser Range hopefuls running on sketchy soil geochem.

From a punter's POV, the interesting part of the story perhaps starts here. As far as I have been able to read no one has trekked this ground or flown above it with modern geophysics, primarily EM. MSC have commissioned Geotech Airborne to fly 600 line km of HeliTEM. The survey started this week. It is my understanding that Geotech's gear is first rate and will detect conductors at depths and resolutions which were only possible with ground surveys up until recently. Furthermore MSC have got Newexco to do the interp, so they are serious about emulating the work programs of some of the pioneers in the Fraser Range.

And therein lies the punt. This is just a Kiwi chapter, albeit geologically more recent, of a story somewhat analogous to the Fraser Range story. But only valued as a shell. I rate the chances of MSC reporting a conductor, or two, or many, to market in the coming weeks as quite good. At which point the stock should get a re-rate if it they spin it well enough and future bets for drill or not can be assessed then.

MSC recently completed a small rights issue which was over-subscribed. This is sufficient to complete the VTEM and announce the interp to market. All very early and very speccy, but without the entry price of the Fraser Rangers and arguably similar or in many cases better prospectivity. Now I'll see whether this post can flush out a few others who got in early, or if I'm just talking to myself.

GLTA or GLTJM.