BC, its looking good today (up 2% on a volume of about 2.5...

BC, its looking good today (up 2% on a volume of about 2.5 million shares) , the market depth is strong and the volume is a lot higher than usual.

Next week MTB is presenting a paper at the Botswana Resource Conference in Botswana called "From Reconnaissance to Resource"

The June quarterly report should be out within a few days (last year it was out by the 27th July) and quite often these reports cause a spike in the price.

Hopefully the report will outline the results from the detailed specialist structural logging on the diamond core and the impact of the higher grades on the resource at Kihabe.

Hopefully there will be some progress and feedback on:
- the royalty stream due from Red October (this should do away with the need for future fund raising);
- diamonds in Namibia;
- gold exploration at Telfer
- nuclear fuels in Botswana and Namibia and
- other Zinc/Silver targets in Botswana

Fron a technical analysis point of view, the price has now breached the 11 day, 31 day, 200 day and 500 day moving average.

Cath Davey says dont look at this stock until it reaches the 12c mark, at this point give it some attention. Once it hits the 18c mark, its time to really pay attention as the outlook becomes bullish from that point.

She rates MTB as having one of the best basting patterns in the penny resource sector and MTB is rated by her as one of her top stocks under 20c.

Support: 0.055; 0.04

Resistance: 0.12; 0.145; 0.18; 0.31; 0.37


BUT DYOR, I am an old fool on this stock and have been bullish for the past 10 years during which time the share price has not moved out of its 6c - 18c range.