directors buys 50 grand worth, page-31

The issues that enter my mind while we wait on news on three fronts (slag upgrade tech, silica, African gold) are these;


Start with silica;
Offtake Another $8m per annum sooner or later. Co has said agreement by by Xmas. I suspect logistics will happen quickly after that. On the Si alone SP could get upwards of 50c IMO.
smelter has potential to further suprise on upside at any time.

African gold
Gold pundits are probably better able to comment but I cannot see this going backwards. Even if it became a spin out (in event of slag being slow to fund it)

Slag,
Pilot plant was sufficiently large in size (1 ton per hour) and scope (range of input materials) for me to be concerned about full scale. I can not see cost blow outs of any sort, running or capital to be a concern. There is plenty of margin to allow for unforeseen. I am not aware of anything unforeseen.

In short at these levels I would regard MHM a steal. The returns now are very good. The silica alone will make this co. The AL is blue sky stuff. The timing for an entry is exceptional weeks before a huge rise in earnings and the demonstration that it can confidently handle Alkoah USA.

In many ways this is a bench mark for my ideal stock and my search process for others. I am heartnened that such great stories do exist. I guess they do because investors get into a mental block and prefer to wait for confirmation rather than do their research and buy early. I do not think it is an isuue of risk reward. At these levels I only see reward (except if we see GFC2 etc).
Most pundits are delaying purchase till upgrade technology is proven. When an announcement of the sort comes out the stock will open at +60c and very quicklyy climb IMO.
Cheers to holders.