future looks very promising

In short, brand new recently reborn company MMI's future looks very bright and promising, imo.

With inferred DSO resource 47mt (expected soon to be proven and indicated resource as company mentioned),
it can be approximately 20 plus years of mine life with 2mt annual export capacity.

Not exactly sure current FOB(near any seaport) bauxite price, but just for only entertainment purpose,
if it is, just say, FOB $60 and absolutely ball park figure of total cost, just say, $20 to $25, which means around
$40 to $35 profit before tax. Conservatively $35 before tax profit per one ton export. That means total $70m profit before tax. For easy figuration, about $60m net profit per year based on 2mt yearly export.

As company issued shares about 300m, therefore earning per share looks about 20 cents.
Usually SP is 10 times of earing per share, so after 2mt annual DSO export reasonable SP is to be around $2.00.
Current SP about 4 cents. If its SP eventually follow fundamental of 20 cents earnings, around $2 is absolutely not impossible and beyond reach target.

As things usually won't go along anticipation, therefore reasonable SP after achieving yearly 2mt DSO export
SP around $1.50 looks fair.

I am optimistic because:
1. After contacting company people several times, I found they are all energetic, very focused , very professional
and extremely smart and credible
2. we have actual tangible resources (even current inferred) which means not still drilling company
3. company seems continually contacting and negotiating with government officials to prevent or avoid risk of any policy change or such
4. One of sub holder can be easily off taker upon development
5. This is totally brand new new-born company
(I have had a bad memory of MTE....hold CBX as well)

Again, I am totally blind about company analysis and no expertise in such field at all
and this is Sunday entertainment purpose only.


Regards,