A resource shell

Seems like a resource shell to me...

I posted this at STT yesterday, it might be worth posting here...

A resource shell? or a copper play? I personally think a resource shell.
Market cap 2.7m, cash 1.7m approx. Recent cap raise at 2c.

Here is the interesting part from the quarterly:

The Company is now well positioned to continue its programs to maximize the benefit of its Teutonic and Comval projects, whilst seeking additional complementary of projects for the benefit of our shareholders.

It also has a BGS connection and we know what TMX did recently:
Winton Willesee owns 7% of the company. He happens to be non-executive chairman of BGS. He is also non-executive chairman of MNE.

Also Erlyn Dale and Winton just being appointed as joint secretaries of TMX which acted positively for TMX. Up almost 50% since the appointment... may be the appointment was a contributing factor...

Please double check facts and figures...

Cheers