RE:RBCActually RBC sold 489,000 shares of MTB on Aug 14, not 600,000 as I said earlier. Anyway, let's hope they are done selling. Below is part of the shareholders update from the MTB website from July 2023. They talked about Newmount taking over GT Gold's Saddle North deposit for $420 million or 40 times the value of MTB back then. Now that $420 million is 140 times the value of MTB.
Discussions are underway with potential joint venture partners for other projects.
Our mission at MTB is crystal clear: Identify 1-2 substantial metal deposits, priming us for a potential takeover by a larger entity. Our blueprint for success echoes that of GT Gold's game-changing Saddle North deposit discovery, which led to a lucrative acquisition by Newmont, valued at a staggering $420 million - an enviable 40 times the current value of MTB.
The exceptional merits of the Telegraph project are being overlooked with the current dismal market conditions, compounded by the summer doldrums. Savy investors are well versed in the cyclic nature of the mining industry — and the way to make money is to work with the cycles: Buy low — at the bottom of cycles when no one else is paying attention, and sell high, when other investors are the most enthusiastic buyers. We are steadfast in our quest to attract investors who discern the monumental potential the Telegraph drilling program holds. We are certain that this venture will propel MTB into the limelight in the coming weeks.
Lawrence Roulston, CEO
July 7, 2023