OK team, I spoke to Stephen yesterday and he filled me in on a few things that I was concerned about, I'll try and remember the things he discussed that are relevant....
Anyways, the AGM is on as planned and apparently AB will be there and ready to take it on the chin. I guess it will be an interesting affair.
Regarding the chinese visit, not much to say at this stage and may take some time. Obviously market sensitive stuff wasn't discussed but the Chinese were very positive initially but haven't followed up. That is probably due to the significant change in market conditions.
There are a few opportunities starting to pop up with financially distressed companies but nothing too great at this stage. Itis expected that this will change as time goes on and cash strapped juniors look to offload assets.
Apparently our focus will still be on "energy" and we have some good options beside Wally2 to explore further. Nothing concrete so they are unwilling to make any announcements until something more firm comes around.
I did get the impression that we aren't going to pursue the bauxite too much further but I could be wrong on that. It make take a substantial change in commodity markets for that to fire back up.
The website is nearly there and will contain a lot of information I spoke to him about. It will also contain a strategy document for MKY which will be presented at the AGM after the meeting (I guess about 10-14 days then.)
Seems like a lot of possible moves but everything is kind of in the middle of negotiations and progression. Steve checks Hotcopper so is aware of our concerns and did mention that the SP will directly affect his income/wealth so it is in his best interests to get things moving in the right direction.
Good call, seems like a good fella and has experience in both exploration/mining and finance so must be considered a big positive. Also the cash in the bank and a new geo working with him are big pluses. So it seems there are potentially a lot of different avenues and they are fighting to be "lean and mean."
The only negatives I might take away are that the bauxite deal may take a lot longer than some of the newer shareholders would like and that we don't seem to have a definitive pursuit. The potential however does seem to be good and with the general market (particularly juniors) being so beaten up, they are pursuing opportunities that inevitably arise in such a bearish environment.
It sure beats panicking and trying to find partners in a hurry or selling off the family farm.
If you have any questions regaring the call please post them and I'll see if we covered them....
Cheers,
Litchy
MKY
mky resources ltd
