MAT 0.00% 2.6¢ matsa resources limited

sorry to drop cold water on mat, page-33

  1. 61 Posts.
    significant shareholder: 5% is amount at which you have to report your buying and selling. In this company, there are only 3 or 4 who meet that criteria: poli,viner, rasl, and maybe one more- no sure, haven't checked the registry recently. those 3 have around 30%. pretty big chunk.
    remember this:

    less than 20 people have more than a million shares.

    there are still a few hurdles before this becomes a dunk shot:
    1. they do not have unlimited money here. And, there is still an unpaid loan of $250,000 to poli and rasl- the resolution of this could make a serious dent in the cash.
    2. there is a significant difference between sending to the mill raw ore and crushed ore. A crusher runs into a few mil.
    not sure how many.
    3. again, they do not have approval to mine yet, and they don't have a mill contract.

    4. exciting drill results are only the very first step.
    If any of you were around, you might remember the jackpot fiasco.the drill results were up to 2 ou per ton- and that is what they pulled out..but the equipment was poor, the sides of the pit caved in, and it sat on the ground at the mill for months and months. Ultimately, they lost money. So, caution counts. Please don't forget that.
 
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