MTC - A ConumdrumI am familiar with MTC story, but am now looking at it more closely. Many junior mines are taking-off and this one is spuddering.
My belief is that its prospecting plans are not likely going to deliver anything truly exciting in the very near-term. But drill results likely going to continue to produce "encourging indications" - meaning that "Something of value may be near by so we'll keep looking".
That said, I'm going to keep my eye in case I see anything more interesting appears. As well, the long, long wait may cause the shares to drift lower. Unless something drastic happens I won't be looking to jump in until below $1.00.
The most recent press release was "ho hum". Lots of "we are encouraged", but no results of value.
Intersections of 1-5 metres over 250m is not terribly encouraging. I would have thought the step-out drilling (that extended the strike to 250m) would have seen widening widths.
And the company reverts back to old drill data.
I think the current drilling program may be far off the mark (or at least targeting locations that aren't likely to generate much excitement(. I stress maybe as I'm obviously not on the ground and not tuned into intimate details.
Be interesting to see the next phase of drilling.
When they highlight: "One hole located 400 metres west of the BL14 zone intersected the proper stratigraphic horizon with strong alteration and stringers of chalcopyrite-sphalerite mineralization. Another hole located 200 metres east of the BL14 zone also intersected this stratigraphic horizon with strong alteration and chalcopyrite stringers and veinlets."....
....I yawn. It usally means it is not economic material, but "its encouraging".