Metalex Ventures Ltd V.MTX

Alternate Symbol(s): MXTLF

Metals & Mining Industrial Metals & Minerals

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay Lowlands Property. It has a 100% earned interest in mineral claims located in the Kyle Lake area of Ontario, located approximately 200 kilometers (km) west of James Bay in Northern Ontario and about 80 km west of De Beers’ Victor Mine. It also has an interest in various mineral claims located in the Wemindji James Bay region of Quebec for the exploration of diamonds and owns 100% of the non-diamond project. It also has a 100% interest in certain mineral claims in the James Bay Lowlands area of Northern Ontario. It has a 70% interest in the Viljoenshof Diamond Project in South Africa.

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Metalex Ventures Ltd > Let’s Do the Math

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Comment by Oregonduckon Sep 22, 2021 12:07am

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Post# 33896945

RE:RE:Let’s Do the Math

pennymaker69 wrote: Ya your math is wrong. 1.8 million left for drilling. They raised 3 mil.
They have plenty of cash for a drill program. The money they have spent is to narrow down where to drill in quebec.. ...

When drills in ground find something. ... LIke a large scandium find...
They can do a deal with Rio Tino to fund the rest.

They have money in the bank. wait until it's 0 before u panic.

Great time to load up before results.. (which will be soon)

Oregonduck wrote: As of July 31, 2021, MTX has $1.8 million (rounded) left.

“...Exploration expenditures of $347,191 have increased significantly from $188,170 in the prior period. This is due to having an active sampling program for the Quebec project during the summer of 2021. In the prior period, there was not an active project an Exploration expenditures related to project maintenance. Please refer to Note 7 in the financial statements for additional detail on exploration expenditures.”

The Co spent roughly $535,000 (rounded) on Que to July 31.

Of the $3.1 million raised - $1.7 million were flow through financing for Quebec only. So far, they have spent $535,000 on lab and exploration there. Around $1.0 million or less are left for Que out of $1.8 million in the kitty.

If Chuck found something, he will need to raise funding at 5 cents that would be hugely dilutive without a rollback.

Chuck said he did contemplate rollback back then.

POS

My Math is not wrong as to how much $$ is still left. You made an erroneous statement that they still have $3.0 million for drilling. That was plain wrong. Do you read or understand financials or just too lazy to do any investment decision??

We can argue about whether there will be a rollback or not. It is my opinion that there could be a rollback coming.

We had a pissing contest before. You wanted a petition at the last Annual Meeting to oust the FN director. I tried to educate you that it couldn’t be done under the corporate law.

You are one of the diehard bulls here. How’s your stock doing this year down from 12 cents to 3 cents ?? Who knows, the stock still might go up before Chuck packs it in. He is pretty old you know.

Good luck. Still POS.