MTM - MTM Critical Metals

[System]

Mt Monger Resources Limited is an Australian mineral exploration and development company incorporated on 13 November 2020 with a focus on gold and other precious metals discoveries in Western Australia.

The proceeds from the upcoming IPO will be utilised to enable the Company to systematically explore across its Projects, including the Mt Monger Gold Project and the East Laverton Gold and Rare Earths Project.

The Mt Monger Gold Project is centred approximately 50km east-northeast of Kambalda and 70km to the southeast of Kalgoorlie-Boulder, within the Goldfields Region of Western Australia. The project comprises six granted Exploration Licences, two pending Exploration Licenses and three granted Prospecting Licences, covering an area of approximately 100km2.

The East Laverton Gold and Rare Earths Project is centred 70km south-east of the townsite of Laverton and is comprised of a single granted Exploration Licence and eleven pending Exploration Licences. The project licences cover an area of approximately 3,000km2.

It is anticipated that MTM will list on the ASX during July 2021.

Home | MTM Critical Metals

mtmongerresources.com.au

 

[Dona Ferentes]

Listing date	8 July 2021 12:30 PM ##
Company contact details	Mt Monger Resources — Gold Exploration Western Australia Lead by a qualified team with over 20 years combined experience in the gold mining and exploration sector in Western Australia. mtmongerresources.com.au Ph: +61 8 6444 1788
Principal Activities	Australian mineral exploration and development
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	MTM
Capital to be Raised	$5,000,000
Expected offer close date	18 June 2021
Underwriter	Not underwritten. Lazarus Corporate Finance Pty Ltd and Baker Young Stockbrokers Limited (Joint Lead Manager)

 

[Dona Ferentes]

Mt Monger Resources (MTM) listed today ... opened at its list price and did not move far from the 20c level all day

---- not to be confused with the other recently listed Monger Gold (MMG)

 

[frugal.rock]

SP starting to look attractive together with a little volume on recent drilling commencement announcement together with 3 tenements being granted.
Initial guess is they still have 8 tenement applications outstanding.

 

[frugal.rock]

Has been on a general down trend for 5 years or so, not exactly horrible, depending where one may have entered on the chart.
Has blipped on my radar 2 or 3 times lately. Not sure of FA or where there at though?

 

[Dona Ferentes]

Has been on a general down trend for 5 years or so

which is an extrapolation based on what? Raised capital and listed 9 months ago.

 

[frugal.rock]

which is an extrapolation based on what? Raised capital and listed 9 months ago.

Not I, said the big bad wolf.

This monthly chart back to 2016 weirdly, has made a fool o me?
Not sure how or what's going on?
Perhaps the MTM ticker was in use before or something, I've honestly got no idea?
But, as usual, correct to a tee you are. Can I blame the site sponsor??

 

[Dona Ferentes]

all's good in the universe

 

[frugal.rock]

Fell off my radar fortunately... until recently. Too late? Boat missed?

 

[System]

On May 1st, 2023, Mt Monger Resources Limited changed its name to MTM Critical Metals Limited.

 

[Dona Ferentes]

Fell off my radar fortunately... until recently. Too late?

The explorer formerly known as Mt Monger is up ~170% since acquiring a Canadian rare earths-niobium exploration project called Pomme in February.

Proceeds from a recent $3m capital raise will be used for a maiden drill campaign and metallurgical testwork at Pomme, which it bought from TSX listed explorer Geomega Resources for ~$1m in cash and shares.

MTM directors put in a collective $70,000 as part of the placement.

The company says Pomme has similar geology to Geomega’s advanced 266Mt Montviel carbonatite REE-Nb deposit, just 7km away.

Just two holes were drilled at Pomme in 2012; they both returned thick mineralised intersections interspersed with high grade chunks, including a highlight 508.3m @ 0.43% TREO, 413ppm Nb2O5 and 1.48% P2O5, from 73.7m depth.

 

[Dona Ferentes]

Year to date chart...

 

[frugal.rock]

mineralised intersections interspersed with high grade chunks

Chunks?
Are they talking about Rocky Road?

 

[Dona Ferentes]

Chunks?
Are they talking about Rocky Road?

Dis custard.

 

[frugal.rock]

Dis custard.

filled profit e rolls

 

[peter2]

OK, you two, get a room near a bakery.

We have to keep an eye on these small company transformations as the market tends to like them. Mt Monger had an unreliable but highly volatile outlook. In my DoNotTrade list. Now that it's bought some REE potential in Canada, it's worth watching.

Canada seems to be the new frontier for REE and Li exploration. There's been several similar purchases recently. Stock prices have moved higher immediately.

 

[Dona Ferentes]

Year to date chart...

And since then ....


At the start of May, Managing Director, Lachlan Reynolds said:
“The change of our name to MTM Critical Metals is appropriate to reflect the new focus of our Company and to acknowledge that we are now focused on the exploration of rare earth element projects in both Western Australia and Canada.

Our strategic investment into this sector is underpinned by our belief that critical metals have very positive long-term demand due to their importance to the global clean energy transition and the push by governments worldwide to expand and diversify their supplies.

We are soon to commence diamond drilling at the exciting Pomme rare earth element and niobium project in Quebec, where we are advancing the exploration program rapidly in order to evaluate a known mineralised carbonatite complex. We see this as an excellent opportunity to make a new discovery in a mining-friendly jurisdiction with good access, hydro-electric power grid and existing mining infrastructure.

In addition, our work at East Laverton in WA is highlighting a district-scale opportunity for clay-hosted style rare earth element mineralisation over a broad area. We are currently awaiting results from a recently completed aircore drilling program that has significantly expanded our drilling coverage of the area of interest."

Raised $3 million in a 2 tranche placement, at 10c

 

[Dona Ferentes]

Got some cash, so we'll let the bit do the talking ... My June tip.

 

[Dona Ferentes]

Got some cash, so we'll let the bit do the talking ... My June tip.

Bit? Core blimey!

Highlights:

• Visible rare earth element (REE) mineralisation identified in drill core
• Mineralisation verified using handheld XRF
• 500+ metre intersection of variably mineralised carbonatite, open at depth
• Sampling for detailed assays in progress, with results expected within 4 to 6 weeks
• First of a 10 hole, 5,000 metres first-pass program to test the Pomme carbonatite complex and the known REE-niobium mineralisation. :

“We are extremely excited by the results of this first diamond drill hole. Not only has it intersected prospective carbonatite rocks but it also appears to be continuously mineralised over a 500+ metre interval and based on the visual estimates may contain a number of zones containing significant REE grade.

"This hole is a vindication of our confidence that this drilling campaign at the Pomme project could have potential for making a major new rare earth element and niobium deposit discovery. We are now eagerly waiting in the results of assays and getting samples to the laboratory in Canada is a high priority. Drilling is ongoing and the second hole is underway."

- Managing Director Lachlan Reynolds

 

[Dona Ferentes]

MTM Just fell out of bed ... so much for June tipping comp.