The critical matter of the SP of MetalsX, page-6

Thanks L. I believe that the tech people working for SFR did a great job with a DHEM (HP?) down an old TLM hole and detected an ever-so-slight response, which was then explored, and bingo!

The comment in the Bell Potter report on TLM that caught me eye was this:

" We also note the extensive presence of sedimentary units hosting the massive sulphide mineralisation at Monty, which indicates that this is a similar geological setting to that at DeGrussa and it also points to the formation conditions having been more tranquil than for many VMS deposits. This more tranquil formation setting indicates to us that there is potential for much larger bodies of massive sulphide to be present elsewhere in the quite extensive hybrid VMS system that formed the mineralisation."
We know that there will be a rights issue at 2c. This will put ordinary shareholders in the same position as the SIs at 2c. Therefore, the SP just has to lift well above the current sp of 1.6c for it to succeed. Those selling below 2c either think the company will fold or they need money. MLX doesn't think it will fold because of the 'purchase' of 15m shares etc. Nor do the SIs who took up in the placement at 2c.