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Bullboard - Stock Discussion Forum Metalex Ventures Ltd V.MTX

Alternate Symbol(s):  MXTLF

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... see more

TSXV:MTX - Post Discussion

Metalex Ventures Ltd > Let’s Do the Math
View:
Post by Oregonduck on Sep 21, 2021 1:42am

Let’s Do the Math

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
Comment by Matteo1234 on Sep 21, 2021 5:33am
He's pouring a lot of his personal wealth in Cantex. He suspects that it will be a world class mine. Other than his horses and his lab.He's spending millions.
Comment by pennymaker69 on Sep 21, 2021 11:13pm
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 ...more  
Comment by Oregonduck on Sep 22, 2021 12:07am
Comment by coolshivers on Sep 22, 2021 9:04am
"before he packs it in"  yup!   Time to deliever on a life of path finder minerals that found nothing of scale.
Comment by Matteo1234 on Sep 23, 2021 7:10am
Why did you buy more then ? What a pity party. When silver rallies it will rise. Electric vehichles Pappy dog. They need the metals. Silver will move soon. Don't mess up your Depends.
Comment by pennymaker69 on Sep 22, 2021 9:06pm
Learn to read i said 1.8 million is plenty left for drilling. There will be a drill program. There will be results. It could go up. Maybe not. Also I changed my mind when he answered questions at the agm.
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