Ann: 116 Metre Dolerite Zone Intercepted in Deep Hole, page-38

Hey d&c, I can't deny that the incessant selling of MRP shares since March 2017 has rocked me somewhat, especially as I was one of those adding to my positions on its way down.

I, like you, believe in the overall fundamentals and prospects of MRP (superb location, drill results so far, personnel etc.). But can't help and wonder sometimes whether I am catching a falling knife This is a 9 months bear market we're talking about where the SP lost 64% of its value (and still going)


I'm quite sure one of the reasons for the fall in the MRP SP is the over-commitment and subsequent under-delivering of the following two commitments made back in Sep 2017 "Investor Presentation":-

"Targeting to increase the existing resource of 232,000 ounces gold (5.95 MT @ 1.2 g/t) by end of CY2017 by the ongoing Reverse Circulation (RC) drilling program at the Southern Stockworks and Northern Stockworks deposits"

"DFS to start after release of new mineral resource by end 2017- Tailings Dam and Plant Design" <-- They even kept this line in the November 2017 AGM update!

As an investor who's invested into the SPP based on these commitments, I am of course very disappointed that "end of CY2017" has come and gone with no updates an any "release of new mineral resource".

Have I sold any of my MRP shares? No - Reason's because I have seen Jeff and team delivering results before. I'm confident they can review the promises they could not deliver on and be more careful the next time they make commitments like these. But, I'm not sure other investors are as forgiving.


The consolation is that the junior miner's index GDXJ has itself snapped out of a 9 months bear market just a couple of weeks ago along with the rebound in Gold price, let's see whether MRP will follow suit soon. I hope that the grade results of the deep drill and the MRE upgrade this quarter will be both very positive and is able to coincide with this positive turn in the Gold sentiment.

Please no more delaying Jeff and team- you last committed to delivering on the MRE updates by March Quarter of 2018 . That's less than 3 months to go - make it happen!