Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

I've been out of here a long while but watching the water levels rise on the ship month on month.

Until yesterday, looking at the quarterly, the EV for MDI was actually negative!! MC was 3.5m ish, and there's 3m cash and 1m shares.

New CEO has the creds, and you've got to feel that it's probably one of the best appointments they could hope for. Market doesn't believe in the Tennant Creek story at the moment, with other explorers failing to identify the mother lodes.

So MDI is back on my radar as a maybe.... not in yet. The risk is a slow burn of cash as they continue to come up empty handed, but should someone in the area strike something, the reward for a company with a lot of land in the area and a fairly substantial kitty could be large.