$10 Million M/C for this?? RE RATE COMING

MRQ Holders, Wanna-be-holders, Non-holders, Believers andNon-Believers I think this whole MRQ Forum deserves a decent rehash of exactlywhere the current status of the company sits.

I think we are ALL now in agreement on the following despiteconsiderable overzealous opinions which all seem to be now in check.

SOI – circa 1 Billion

M/C - $11 Million

Cash: Circa $1.5 Million

EV: Under $10 Million

YES the SP shouldn’t have gone to 3 cents. AGREE here and alwayshave. 100%.

BUT is it worth more than $10 Million based on Peer Comparisonsand upside on whats to come. I have no doubt.

ASX: TSL is $30 Million and I ask you to check their resource statementtoday.

What is below worth?? My view and my view only is that this is a 2cent stock. $20 Million M/C.

Fully diluted call it $30 Million BUT with $8 Million Cash. So anEV of $22 Million.

What does the company have at present:

1. Koko Massava – 82 Drill Holes Completed

1. 1. Likely Jorc Resource statement of over 1 Billion Tonnes HMS at >5% by end of March 2020
   2. Likely high grade zone within this resource which looks from the data received to date to show 100-200M at 6-7% HMS (maybe higher once infill drilling has been commenced within the delineated zone of 7km x1.5km @ >5% as per the most recent announcement to ASX.
   3. Infill Drilling to commence in March within targets above in A and B,
   4. Mineral assemblage update imminent
   5. Ongoing Auger drill campaign along strike of high grade holes as per announcements to ASX to potentially increase the results of A and B above.

1. Piombo – Auger campaign commenced with results imminent to delineate a new drill target. Target area size and grades to be highlighted through preliminary visuals

1. 1. Drill Campaign to commence in March based on results of above to identify:

i. A newresource target for Poimbo and

ii. Likelyhigh grade zones within this resource target?

1. Nhacuste Targets – Auger campaign to commence with results to follow to delineate a new drill target. Target area size and grades to be highlighted through preliminary visuals.

1. 1. Drill Campagin to commence in April /May based on results of above to identify:

i. A newresource target for Nhacuste and

ii. Likelyhigh grade zones within this resource target?

1. Linhuane:
   
   Exploration permit process underway and news here imminent. On the Coast, with Auger results showing grades of

+++25%FROM SURFACE.

Auger Campaign to beginimmediately after permitting to identify:

1. 1. Drill Campaign to commence in April based on results of above to identify:

i. A newresource target for Linhuane and

ii. Likelyhigh grade zones within this resource target?

SO my question to all and sundry is?? What are we worth as a piercomparison? I invite responses?

Management has told me that once all the data is out on thecurrent drill results, and the pending Augers for Koko and Piombo that anon-deal roadshow will be done to bring real eyes to the story.

I am happy to put my 2 BOB worth on the line here and say we are 2cents plus at end of Feb just ahead of the roadshow.

Time will tell of course and this is purely my opinion. Happy tohear other views.