Select Exploration (ASX:SLT) responded to yesterday's ASX price and volume query by noting the increased investor interest in the company as a result of its exposure to the share price of Metals of Africa (ASX:MTA).
MTA’s share price has increased from a low of $0.057 on 18 June 2014 to a high of $0.26 yesterday.
SLT holds 5,000,000 MTA shares, and another 5,000,000 unlisted options exercisable at $0.093 on or before 31 March 2017.
MTA emerged from a trading halt this morning to reveal extensive outcropping of graphite over its new tenements in Mozambique, which are along strike from Syrah Resources (ASX:SYR) and Triton Minerals (ASX:TON).
MTA has commissioned The MSA Group to undertake the initial exploration program. This is significant because MSA is the same firm that recently completed the resource estimates for Syrah’s Balama project.
SLT is capitalised at $3 million, and holds $700,000 in cash in addition to the growing value of its graphite interests via MTA.
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