Dead Calm, page-24

Well, Ken is making his presentation next week and I am guessing that many at the GO conference will be asking him what the deal is with MIN. You can bet he will have some sharp answer, for fear of confessing that he has no idea. That may spark some interest in EGO - if nothing else, out of misheard rumors and incorrect information passed around the conference room.

The good thing about the current "slightly soft" share price is that MIN are probably chewing over the concept of buying the whole damn lot. When the SP was 42-45 cents, it would be difficult explaining to MIN shareholders why they then had to pay double that to mop up the balance. But at 30 cents, 45 cents is a 50% premium that could be easily explained (as it is still a sizeable discount to NTA). Today's "adjustment" to P2 resources shouldn't come as a shock given previous mention of problems at Red Gully, and actually only knocks around 8 cents off the valuation (per Hartley's method) bringing the NTA to circa 68 cents (ish - as I am also assuming that Hartleys have their Risking correct). Note that according to Hartleys, RGN1 success (confirmation of mid-range reserves) adds 9.7 cents back on to the share price.

Either way, short of someone falling down the well (someone fat that is - who blocks the well to the point that a rig is needed to remove them) I think all the bad news is now out, and Ken will be in "sell" mode next week which may actually provide the basis for some investor confidence.

Could be wrong though.