Metalex Ventures Ltd V.MTX

People begging for drilling news

[Oregonduck]

It seems the news release about the start of drilling did nothing to the stock price, not even a tiny bump up. The stock is being manipulated to keep it down at 5 cents or less. Mtx has 2.0 million cash but owes $2.0 million in payables. Looking for more funding and dilution.

[pennymaker69]

the 2 mil in payables is for the 2 mil to drill in quebec... which is being done. it's just waiting. the news came out friday afternoon. bad time to come out. but now we know they will be drilling and waiting on core results.. THAT can move the price depending on what is found. They do need better investor relations... but lets see what they have to promote

[Oregonduck]

No, that's wrong..,The payables owing by MTX are money already spent and incurred but not paid. Payables are not money. It is like you owed $2 million in bills not yet paid, but still has $2 million left in your bank account. Practically, you have little money to spend unless you don't pay off the bills to your creditors. As of 9 months ended Jan 31, 2023, the Co had cash of $2.5 million

[lithiumftw]

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