Ann: Marquee hits 3.15% Cobalt & Extends Mineralisation, page-22

Good in terms of having a tight capital structure which allows the SP to swing hard upwards when there is interest/positive sentiment, bad in terms of liquidity, particularly when the sentiment of the underlying commodity/stock is poor like we have seen with cobalt since May. Only takes one small trade to drop the SP 10-20% due to the spread. High risk tolerance required. Management have been transparent thus far and it will be interesting to see if any interest is ascertained from the subsequent investment presentations in China.

With Werner Lake shaping up nicely, its important not to forget the Skeleton Lake claims surrounding/aligning MEI as per the recent presentation. Cheers