Has anyone looked at SYA and how undervalued MTC is by comparison?
SYA appears to have fewer projects than us and projects with less potential, yet its market cap is much higher principally because it has an estimated JORC resource (at Authier, in Canada). Mind you SYA had to pay $4m for Authier. "Sayona Mining acquired 100% of the Authier project in July 2016 for CAD$4 million."
SYA (Authier):
"
JORC Resource expanded – In May 2017, based on 4,100 metres of new drilling, the JORC Mineral Resource was expanded to 17.4Mt @ 1.02% Li20."
Source:
http://sayonamining.com.au/authier-project/
MTC (Cancet):
"An Exploration Target at the Cancet Lithium Project has been estimated in the range of 15Mt to 25Mt @ 1.0% to 2.0% Li2O and 100ppm to 250 ppm Ta2O5."
Source:
http://www.metalstech.net/wp-content/uploads/2017/11/MTC-1.pdf
Also from that announcement, by comparison:
"Hard-rock deposits which are currently under development host resources ranging from 16Mt @ 1.1% Li2O (Mt Cattlin, Galaxy Resources), 18.9Mt @ 1.18% Li2O (Bald Hill, Tawana Resources) and 23Mt @ 1.2% Li2O (James Bay, Galaxy Resources)."
....
SYA estimates that Authier has a 20-year+ mine life:
"The mineralisation remains open in all directions (see Figure 2). Currently, the Company is not looking to expand the current Mineral Resource estimate given the current resource provides more than 20 years mine life."
Source:
http://sayonamining.com.au/authier-project/
SYA's total project area is
much smaller in size:
"The project area comprises 19 mineral claims totalling 653 hectares, and extends 3.4 kilometres in an east-west, and 3.1 kilometres in a north-south direction, respectively."
Source:
http://sayonamining.com.au/authier-project/
MTC's total project area is
much larger in size:
"9,584ha prospective for high-grade lithium hosted in spodumene-bearing pegmatites"
Source:
http://www.metalstech.net/projects/cancet/
And don't forget the
Cancet Expansion:
"Project increase of 3,162 hectares east of and along strike of the main strike to 12,746 hectares within a similar geological environment – multiple pegmatite outcrops are evident from satellite imagery"
Source:
http://www.metalstech.net/asx-announcements/mtc-expands-cancet-renegotiates-terre-des-montagnes/
And that's just Cancet !
What is SYA's market cap? Above $80m
Should MTC's market cap be below $20m? I don't think so.
All personal opinion / pure speculation, the above commentary is not complete and is not at all comprehensive, may not be accurate and should not be relied upon, independent investment advice should be sought, do your own research etc
