Shell / Vanadium
SP 22c
SOI 25.1mil
MC 5.5mil
Cash 3.6mil EV1.9mil
As I am no word smith and I've got too many positives on TMT, it's easier for me to just dot point the reasons for my tip.
1. Register
Mathew Walker is T1 holder with 1.85mil shares (7.37%).
The register has 3.8mil Restricted Securities and T20 hold 8.78mil. Leaving 50% free float which appears to be tightly held (assumming T20 don't jump ship)
As TMT was an IPO back in December 2016, there is no real resistance as there aren't any holders sitting on losses creating an overhang and obviously no stale holders as its only been trading for 3 months now.
Overall TMT has a very healthy register.
2. Maiden Resource
TMT has wholly owned Vanadium rights located in the world class **anthia region. This region has had several successful high grade results.
AVL (next door to TMT) also has rights in the **anthia region and currently has a 22mil MC compared to TMTs 5.5mil MC.
TMT commenced drilling on the 19th of Feb and results in my opinion are going to be as good as AVLs. Although it's not in black and white as the asx has cracked down on forward looking statements but with the results from the Airborne Magnetic Survey it's basically guaranteed that we will have a significant vanadium resource.
3. Cash and Acquisition
Management have made it 100% clear that TMT is not just a Vanadium Play but TMT was formed to target commodities in the technologies sector. They have indicated that 'vanadium, lithium, graphite, cobalt, etc' are target commodities. With 3.6mil cash, an acquisition is more than likely.
Lastly:
Ultimately TMT can return wealth to shareholders in two low risk avenues. It's either a cashed up shell that has a seriously low 1.9mil EV that is backed by Mathew Walker. Or. It's a vanadium play that is currently drilling with positive news flow to come.
