re: Ann: Fieldwork Rapidly Progressing NT Cop... Bob,Drilling...

re: Ann: Fieldwork Rapidly Progressing NT Cop... Bob,

Drilling ets is Sep Quarter suggesting that it will begin anytime after June 30th or earlier as suggested in today's market announcement. Over the last 6 months, the market has generally lost its appetite for risk. Unlike many small cap greenfield explorers, MTH has very prospective assets that have been extensively mapped and tested in preparation for this drill program. It is therefore advanced enough in its exploration program now to warrant market attention. At 3c and discounting cash,the assets are currently valued at $4m. This is all happening from a very low capital base and if MTH gets a whiff of a copper and base metal resource, expect a very significant market rerating. When preliminary results in Aug 2012 indicated the potential of Illogwa,the SP went from 2.6 to 10c in a few days. At that time,1351 metres of diamond, reverse circulation and air core holes were drilled as part of an initial reconnaissance drill program in respect to a number of priority drill targets in the Illogwa area.Unfortunately, it became clear to the market that there was still a great deal more work to be done before they could formally confirm the resource potential of the Illogwa tenement. This could only be done by an extensive drill program that could then confirm and identify the paremeters of the resource. As a result, the SP fell away understandably. Now we are at the pointy end of the MTH story. Similar drill results to those in the previous reconnaissance program back in 2012 over the next few months will with a doubt result in a significant rerating of the company. While management are seeking the completion of 10 drill ready targets, it is more than likley that they will prepare and target the most promising ie Mini Me, Bessie's Reward,Red Rock Bore etc in the upcoming drill program. On the back of the previous reconnaissance drill program,the indications are extremely promising for MTH. This is not being currently reflected in the SP but that is more a function of the way the market is feeling and reacting at this time.I have been told that the Illogwa ground alone could be valued well in excess of $150m for MTH if early indications are confirmed? But therein lies the gamble. The ground may not contain anything worthwhile and all the visible copper outcropping may just be a geological illusion. But common sense tells me that at 3c, MTH right now may just be one of the best punts on the ASX. We are going to know pretty soon so hold on to your shares!!!