Ann: MAG Alkane Proximity, page-21

@PovertyBoy & @Atomic Toad

Directors and Friends don't need to/can't even if they wanted to, load up here as there's not much volume to load up.

Why? Because Directors own 42% of the Company already and together with Golfields and Directors' Associates, they own at least 80-90% of the Company.

So the only way they can load up is by selling to themselves.

Oh and most of their average buy-ins are 16c - they got in at IPO at 20c and then a 1-for-3 rights issue at 4c.

They will not sell below that price or anywhere close to it (imo).

Directors have raised/diluted holders by about $1m since IPO - not bad for holders; the SP increase will come for them?

As "tempting" as you/all might find it around here, the reality is that you can't get any/much around these levels as no one wants to sell at these levels.

Regarding things not being quite right, being cheap, geology and comparison to AQX:

The not-quite-right part is that most people that think that they're investors are really just short-term traders looking for a quick buck and therefore are staying away from MAG as MAG is looking to spin-out its NSW assets next to ALK and in the area.

This means that the hold might need to be 6-36 months to get a big return, via takeover or re-listing of the assets perhaps individually or mixed, etc.

MAG has all the right rocks/geology and I'll say it's assets are multiple times better than AQX and should be valued at multiple times of AQX, and I'm being conservative and will gladly discuss with anyone. In saying that, and as I've said before, I want AQX to go to the blue sky as that just makes MAG even better value as it does for all players in the area.

AQX hasn't got any of the right rocks next to ALK and is almost certain to come back from drilling with nothing.

MAG has already drilled at all of their projects and has decent results from all but needs plenty more drilling to prove up a big porphyry, which they will do via JV with a Major (MAG already rejected a JV from a $23 billion Major due to deciding that the offer was not good enough/in the best interests of shareholders.

There's a few more days left until the vote for the spin-out of the NSW assets; if the spin-out goes through: I'll be happy and will very likely get a big return in due course (say 6-36 months).

If the spin-out gets cancelled or gets voted down then I'll get a big return immediately and an even bigger one as they progress along.

See my maps per below in relation to the right rocks/geology.

Anyway, I'm in, I'm holding till I get a big result from this one; whether it's spun-out or stays listed; for me it's just timing of the return that is in question, not the return itself. Just imo of course after my research. I suggest everyone does the same and decides for themselves and what suits their investment style.

I/we'll find out on Tuesday what our fate is and how long our hold in MAG is likely to be.

Cheers,

GB.