set to rise big time, page-5

Nicolelee.

I note the points you make regarding MOL

1. MOL at this present time are not a big Iron Ore producer and 1mtpa is only very small. However it is a cash-flow and that can't but help MOL to secure finance.

2 Its main resource is Molybdenum and yes it will take 20 months to build the mine. The mine will have at least a 45 year life span. The S/P reflects the fact that finance needs to be secured. Hanlong the major shareholders have a long term view and are very focused on obtaining the cash to complete the mine. Once this is achieved the S/P will begin to reflect its true value.

3 We must also remember that Hanlong intend to turn MOL into a world class mining house. Now how that will affect current shareholders remains to be seen.

Like all miners in the first stage of exploration the market gets excited when they find a valuable resource. Its S/P usually takes off then reality sets in when people realise that they have to raise money to get it out of the ground. MOL is a example its S/P went to $7 they had Harbinger Capital come on board at $4. This was before the GFC and a lot of water as gone under the bridge since then.

Hanlong were fortunate they came along after the storm and picked up MOL cheap. I take your point that there are other opportunities out there. But with the finance just around the corner and who knows what other surprises are in store for shareholders I think its a good time to be in MOL.

Tha market cap at the moment is way under the value of whats in the ground. For that reason IMHO the next few months will see the S/P multiples of where it is now. This of course is only my view time will tell "always does"