MTC - MetalsTech Limited

[System]

MetalsTech was formed to acquire, explore and develop the Terre des Montagnes Lithium Project, Adina Lithium Project, Kapiwak Lithium Project and Sirmac-Clapier Lithium Project, all located in Quebec, Canada. The Company has entered into various acquisition agreements to directly acquire these projects.

It is anticipated that MTC will list on the ASX during January 2017.

http://www.metalstech.net

 

[Miner]

Thanks Joe for starting this thread. I have been lazy to start this one even if tipped it two months back.
I believe MTC has a great future. It has rocketed more than 60% in last 5 months. Got a speeding ticket and then dived down. I believe this is for a short term with this Lithium hopeful. If every thing goes well they will come out with some strategic result in next 60 days (my wishful thought reading between lines).
For disclosure - yes I do hold this one so as always DYOR

 

[greggles]

Dynavolt Renewable Energy Technology Co Ltd has dropped out of its agreement with MetalsTech Limited. MTC's languishing share price may have been partly responsible for the cancelled deal after almost halving in price from 1 November.

The deal specified that Dynavolt was to subscribe for 10,000,000 MTC shares at a price of $0.30 per share. That must have seemed like a much better deal when MTC was at 35c, but not so good after the share price had slid to the early 20s.

The share price has been hammered accordingly after the announcement and MTC is currently down to 18.5c and looking like it is set to go lower with 100,000 shares on offer at 18c.

 

[greggles]

MetalsTech at all-time lows today, down another 10.23% to 7.9c.

In the last quarter MTC burned through $1,870,000, leaving them with just $1,527,000 in the bank. With no revenue and estimated cash outflows of $872,000 in the current quarter it is clear that they are heading towards another capital raising very soon.

They have just completed diamond core drilling at their Bay Lake North cobalt project in Ontario, Canada and drilling is scheduled to commence at the nearby Rusty Lake cobalt project in the next couple of weeks.

If these upcoming drilling results don't restore some confidence in MetalsTech and their projects, then things could get very ugly. I'd certainly be staying away from MTC until such time as they can show that they have something worthwhile in the ground.

It all seems very touch and go at the moment.

 

[barney]

There will be a story behind this one no doubt

I love the Spec end of the market because it's sometimes like doing jigsaw puzzles.

Speaking in hindsight … If I look at their Chart yesterday, would I buy this Stock?

Rhetorical question; Of course not

 

[barney]

Todays Price action

Coincidental? I don't think so

 

[barney]

And the incredible news that sparked this (now 600% rise) ….

MetalsTech Signs Option to Acquire the Sturec Gold Mine.

Yep, they have signed an "Option" with a 45 day due diligence period.

Steer well clear is my immediate reaction but we will see what develops over the next few weeks.

Of course I'm just jealous because all my logical recent picks are going to trash lol

 

[PZ99]

I sold this years ago for a small profit - double the current price. lol

 

[barney]

I sold this years ago for a small profit - double the current price. lol

Indeed

 

[barney]

Steer well clear is my immediate reaction but we will see what develops over the next few weeks.

Behaving "normally" at this stage.

The initial spike still had a funny taste about it so not one I'd consider buying anyway. Watching out of interest.

Even if it runs again it now has a high Volume resistance area to contend with.

 

[barney]

The initial spike still had a funny taste about it so not one I'd consider buying anyway.

That "funny taste" is still lingering

The Charts tells the story …. Daily and 15 minute for the closeup.

 

[barney]

Steer well clear is my immediate reaction but we will see what develops over the next few weeks.

​

Looks like the Fat Lady is warming her vocal chords. MTC now under what looked like any possible last line of support.

Traders collected their chocolates and left the building leaving a lot of punters under water.


Management will be looking for a hat filled with a rabbit

 

[greggles]

MetalsTech looking to spin out their Quebec-based high grade lithium assets. The share price shot up 41.7% to 17c this morning before the trading halt was requested. The market seems to like MTC's plan.

Will be interesting to see the details of the spin out when the announcement drops in the very near future.

 

[Sean K]

These look significant.

 

[barney]

Management will be looking for a hat filled with a rabbit​

I think they found 2 Rabbits .... Huge turn around from 18 months ago!

 

[greggles]

Those are pretty impressive intersections. Some are very wide and the grades are high. Looks like there's plenty of gold under the ground at the Sturec Gold Mine in Slovakia.

 

[greggles]

These look significant.

MTC has gone and done a huge runner in the last month. Up from 20c to a high of 60c today. A quick glance at recent announcements would seem to indicate the company has a lot going on, including:

1. Phase II drilling at the Sturec gold mine.
2. Strategic Investment Agreement with Chifeng Jilong Gold Mining (Chifeng takes 5,882,352 MTC shares at 34c for an investment of $2 million).
3. MTC spinning out its lithium assets into Winsome Resources Limited (WR1), due to list on the ASX later this year.

I like the way MTC is developing. Management looks to be kicking goals.

 

[Dona Ferentes]

MetalsTech looking to spin out their Quebec-based high grade lithium assets. The share price shot up 41.7% to 17c this morning before the trading halt was requested. The market seems to like MTC's plan.

Will be interesting to see the details of the spin out when the announcement drops in the very near future.

tomorrow ....?

Winsome Resources Limited ... WR1

Listing date	30 November 2021 12:30 PM AEDT ##
Company contact details	https://winsomeresources.com.au/ +61 419 853 904
Principal Activities	Mining exploration
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	WR1
Capital to be Raised	$18,000,000
Expected offer close date	08 November 2021
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager).