that sickening feeling., page-4

Just got off the phone from Dean.

No change from my last update. From the inside the company is still positive and working away diligently. Questions I asked as follows with corresponding answers.
1. Explanation of the current sp? Sell off in Toronto on Friday. All resource stocks are under pressure.
2. General meeting in July. Do you expect all funding resolutions to be passed? Unreserved yes.
3. Progress on power solution? Still working away but progressing. He did note that the power supply issue is a big problem nationwide and attracting a lot of pressure on the png govt to get it fixed from the entire mining sector. Mentioned newcrest being in the same boat and putting the pressure on.
4. The thing I was worried about was arccon going under. What effect will this have? None. They have all the data they need and don't need arrcon anymore.
5. Landowner dissension? All hot air. Not worried at all. Relations with local community still excellent.

Summary.
1. Will have funding until the middle of next year.
2. Arrcon problem not relevant.
3. Community relations still excellent.
4. Company still very positive about the future.
5. Relationship with sentient and NFC still very strong.
6. Power solution is main priority but no time frame given for solution. Mentioned combination hydro / LNG as a possibility. A lot of pressure from entire mining sector to get it fixed ASAP.

Note. On the basis of the above i bought some more. During the transaction it looked like I bought into a bot trade as nothing was on the sell side at the time. Looking at the sequence of trading it does seem that a bot is at work. Maybe the sp is being manipulated down for the reason stipulated in the previous post.

Cheers,

I hold mmc