mnm in victoria, page-32

Bit of a long one Vertigo.

Thanks for the opportunity to debate and chew some fat here.

Appologies in advance if it becomes boring.

Break out the pop corn if you are still up. or put on your favourite breakfast coffee if it's morning.

No high moral ground for me unfortunately and my thought provocation should not be considered as advice or anything more than one persons perspective as he sees the world of microcap dynamics after a life time of experience including BC trading ( Before Computers )

I enjoy thought provocation and although my arguments will be considered controversial, I thank you for entertaining them and then dismissing them as personal midset incorrect info or as the stratagists and tacticians like to call it,,,for what ever reason, or justification, disinformation.

Are you saying the Melbourne strategic 2030 plan does not take in land , be it whole or part of the Maddingly formation also refered to as BM ? And if so do you believe what you read ?

The zoning fiasco c/o Callejes Bros selling off of the old about to be closed for good leonardite BM mine due to non viability was not supposed to happen either. It was land designated in Victorian law as the Mine buffer zone.

History proves that they sold off the old mine's buffer zone decades ago to a real estate developer as all they really wanted was a good sized hole to tip alkaline waste into from their old Alphington paper mill contract. The buffer zone in now occupied by suburban real estate, with real people in real houses, most probably due to a lame argument that the mine was now ( then) defunct and was used as a low level toxic alkaline and cellulose by product waste dump.

Are you trying to convince me that the human factor and any extracts you may be reading from the Melbourne suburban 2030 strategic expansion plan are absolute ?

As just one example, I live in a semi rural 2030 Melbourne strategic development 1890's settled community exclusion zone. but you guessed it,, the green belt buffer disappears 200 acres at a time,,, and 10 hectare non sub dividable lots become 5 as the 5's become 1 and people complain,, but not enough to stop the urban single event dispensation that comes with real estate developers in not so sleepy ol' Melbourne town.

There is just too much dutiable coin to be made by govt compared to the forever cry poor mining community.

If you apply this absolute sort of psychology and principal to Mt M, then we may as well kiss that goodbye too.

IK is good, and will talk up a resource within realms of believability . It's not the job of a director or share traders to sully blue sky, unless they have access to covered OR naked shorting,,, which still exists where it should not exist,,,, that is to say, in non asx 200 companies where certain shorting remains ( in Australia at least) as a tool for the purposes of conducting an 'orderly' market.

I can almost hear the screams from readers yelling , then why the hell do you hold mnm fpo's ???

I bought into the mnm story in part, back before xmas when the background noise seemed to be better than the sp was reflecting. Mt M alone looked to be a sure thing, with the potential to offer a bankable resource which would give the Co a chance to mortgage the asset against the next sleeper project,,, or a spin off at least.

Time will tell the story, and I am now thinking more time than I or the wallet voting market had factored in.

I am too long in the tooth to pass up a good story and when micro cap blue skys run, one never seems to let fact get in the way of the good story. The good story continues in folkloric proportions and less than acceptable market clarification announcements to be honest with you.

One saving face I am happy to share which I hope adds balance and also helps explain why I did not completely sell out on the Mt M anns and sit back on the fence soly to pick a re entry point is as follows;

Recent discussions with broking houses making markets for some of these little tiddlers included the ranking of 5 listed and unlisted potential BCE stocks all vying for position in LV.

MNM was one of those 5 entities based on High probability of a bankable resource in LV and medium probability of bce tech commercially potential synergies. That alone, put it in the middle of the 5 entities mentioned. There are 5 in the top running and suffice to say here MNM was one of them. It was not the highest nor was it the lowest.

BCE tech and it's stake holders were also compared to pre Aramco synergies where go it alone gasoline companies ended up being absorbed for unfair value if they did not get with the strength early in the piece. Similar to the William Crappo Durant story in the US automobile industry about the same time. Just as Durant and his first Partner Dort took opposing views on the potential of horse drawn V horseless carriages, history will repeat itself with the variation being only on the main theme. a good comparison history lesson for all those who reckoned the car was a passing fad.

Probably is ! but not in Dort's life time

We are in uncharted territory here when it comes to this paradigm shift to BCE and back to the syn gas coal gas base load era,, yet many many posters here are convinced one particular tech is the holey grail....All good !

Well what if it's not,, what if it's another wec or conti coal or the A.B. BCE K fuel to the native Indians and so on,, is all that I am saying.

,, a coupla years back the market was convinced WEC was the be all and end all of low rank coal benefication. I post there occasionally too, because I was lucky enough to afford synergies with a market maker, broker early in the white energy story, whom was in part responsible for taking that Co to many tens of times the market capitalisation it had until the recent fiasco. I have only recently posted lessons learnt from that dynamic there, even though from where I hold ( and have sold down) it is still green.

So far as mnm in Victoria is concerned,, there are many yet to be deciphered risks because the human element and sub 100m mkt cap companies fly under the radar of many of the rules and regs asx200 companies would get pinged for,,, and the savy end of the market know this full well.

The watch dogs just do not have the resources, and are also aware that so far as speccie microcaps are concerned,,, a fool and his money are soon parted,,, more or less akin to trying to sue your sp bookie for taking your bet on the 100 to one horse that has good grapevine news.

So pleeease,,, love it or suspect it,,, credability,, regarding information you can personally vouch for is just that,,,, your personal perspective. And I will respect that, and entertain it, but will never set in stone such things nor expect others to do the vice verca . there are just too many personal statements taken as fact or discredited as fiction to act blindly upon.

Leonardite existists ( fact ) in vast quantities all the way thru deans Marsh and the Maddingly formation commonly refered to here as BM. This is not some fable.It is recorded in all the right places if you care to look,, or even the humble wikipedia if you can't access the mining journals.

It was exciting in this food production mad world that such a good value for money semi decomposed urea rich resource known to exist in the Maddingly formation, was about to be given a market spin that the the C bros just simply can not afford to give it from the looks and sounds of it.

The 6 milion dollar + greeny tax C slug that Maddingly mine has been told it has to find on Jul 1 may well see the owners in all probability, close it down,,,due to the marginal profitability of the really quite small niche market enterprise as I understand things stand today. This is something I will not set in stone until I see what evolves post Jul 1. But it is a factor that I will not discount or live in denial of either.

Recent reality check factors;

the SP sentiment, ''elliot waved'' at itself all the way from the 5 or 6c recent sad and fearful times to 3 times that amount based in part on hope that Mt M would soon be a short term bankable asset , DM,,, no go,,, BM,, lots of fantstic back slapping and pretty pictures posted reminded me of the Puntland trucks rolling off the boats in 2007? ( aaaargh ) and then there are the economically worded announcements that have looked as though poor ol' IK and crew have more work cut out for them than the budget can stretch.....

None of this means there is not the real chance of good returns for share holders. So long as they are prepared to filter reality from spin. I still hold and consider the company's best chance of hitting 50c lay somewhere in an LV multilateral deal, and some good work from IK re Mt M.

My reasoning for this lay in the commercial value of lignite of known quality in LV and the fact that it is readily and cheaply available after the right carrots have been consumed.

It must be understood that 60% saturated young lignite is a relatively worthless resource not much more valuable than matured peat, simply because it is an in situ low ranking highly unstable, semi compostable, self combustable resource with one of the 3 worst inviro mind set track records in today's environment.

I keep asking myself, why would anyone commercially exploit a known future sleeper strategic resource held in abyance, that has literally over 2 billion tonnes of overburden hiding it, that needs literally hundreds of test bore holes to even partially jorc it to within industry standards,with LV so well developed and so many hundreds of time larger, and why is it not being conducted by a proven asx 200 coal enterprise ,,, and why weren't big cash companies scrambling over it now, last decade or at any time over the last 100 years, when the port of Geelong that was still reasonably accessable,,, only had the good pub and the pov pub, and greenies had more to do with blowing ones nose than 400 ppm CO2 no going back rubbish,, where are the big Co commercial viability studies,, if it was such a good thing ? and finally,,, why does resource held for future prosperity imply this decad or indeed this century, given there are somewhere between 500 and 2000 years of lignite at known and forecasted stratigic use levels in LV.

Something nqr imo fwiw. take it or leave it ?

Information is only information, something there is always plenty of on the mnm threads. One mans information is another man's disinformation, depending on what he or she understands or is privy to. Heck even the philosophy masters amongst us can not define truth as a concept that actually exists. let alone the many stories told by men in order to convince other men. Or as was once put to me,,, if there were only 2 people on earth. One would be paying tidings to the other mans god. or to finish on a funny note a wiser person than me once said,, '' never argue with an idiot, because law of averages reflect that they only drag you down to their comfort zone then whoop you with experience.

I've been called worse things than 'idiot' and survived!:~)

Cheers and all the best of British for the future mnm ers I hold and trade the story out of interest not out of love.