chomp, page-17

re: latest announcements a bit lame It's really the big picture / little picture scenario. Unfortunately, most traders and speculators concentrate on the little picture (immediate future) and cannot grasp or envisage the larger picture. I have just accepted a job with Oxiana in preference to Rio Tinto and Newmont because they convinced me that they are big picture orientated and have great futuristic plans in the pipeline. Time will tell! With regards to the statement that it is cheaper to buy the MMN fully paid shares than convert the options, well that is little picture mentallity. Yes I suspect that I will get all sorts of arguments from so called gun traders to back up their thought process but the bottom line is that if everyone thinks this way, MMN will languish around at current or lower prices for the foreseeable future due to the lack of funds to fully develop TEXAS. The big picture person will see the merit in converting these options which will inject the needed capital to pursue production by 31 Dec 05. This action alone will result in the MMN share price rising instead of falling! Little picture = (buy shares at 11 or 11.5c for a bargain and watch the share price trade between 10 - 12c). Big picture = (convert options at 12c resulting in the injection of much needed capital and enable the progression from explorer to producer and subsequently have the share price trade well above current levels). It's really a no brainer as far as I am concerned! My $198K cheques were mailed out yesterday and hopefully MMN have other visionary (big picture) investors that have done the same. To not have done so will relegate the share price down to 10c level, production into next year (maybe!) and a capital raising that will have a greater dillutionary effect than the conversion of the current options at 12c.

cheers,

phillw